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Why Compass Pathways Stock Blasted Higher This Week

TheMotleyFool

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Why Compass Pathways Stock Blasted Higher This Week: https://g.foolcdn.com/editorial/images/698160/drug-development-pharmaceutical-pharma-research-researchers-doctors.jpg

Shares of the mental healthcare company Compass Pathways (NASDAQ: CMPS) rose by a noteworthy 15.8% through the first four days of trading this week, according to data from S&P Global Market Intelligence. Following this latest move higher, Compass' stock is up by a staggering 129% over the prior 90 days.

Investors have been rushing into this biotech stock in response to the steady progress of its psilocybin-based depression therapy COMP360 in the clinic. After a successful mid-stage trial, the company is reportedly gearing up to advance COMP360 into a pivotal-stage trial for treatment-resistant depression (TRD) soon.

Image source: Getty Images.

Source Fool.com

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