Compass Pathways plc, a biotechnology company listed on NASDAQ with ticker symbol CMPS, and Greenbrook TMS Inc, traded as GBNH, have formed a groundbreaking three-year research partnership to investigate the delivery models for investigational COMP360 psilocybin treatment.

The collaboration aims to research and examine scalable, commercial COMP360 delivery within healthcare systems, expected upon FDA approval.

The initial phase will focus on researching the delivery of COMP360 at treatment centers across the United States, particularly targeting individuals with treatment-resistant depression (TRD) and other mental health conditions.

Recognized as a “Breakthrough Therapy” by the FDA for TRD, COMP360 has propelled Compass into initiating a phase 3 clinical program for TRD and envisioning an FDA approval application post clinical trial completion.

Kabir Nath, CEO of Compass Pathways, stressed the urgency of innovative mental health medication and emphasized the crucial need for prompt delivery to those most in need.

Market Movement: On the last check Friday, CMPS shares declined by 5.52% to $9.08.