Why Compass Pathways Stock Dropped 12% in September
Mental healthcare company Compass Pathways (NASDAQ: CMPS) continues to work on developing a new model of psilocybin therapy. It's a gradual path, however, and the stock hasn't moved much overall since the company last provided a financial update on Aug. 11. But in the month of September, Compass shares slid 11.9%, according to data provided by S&P Global Market Intelligence.
The company is pursuing a psychoactive treatment for depression using psilocybin, the active ingredient in psychedelic (or "magic") mushrooms. Though there was no real negative news to explain the stock-price drop in the month, it effectively just gave back the gains seen since that second-quarter update. But Compass has taken more steps forward on its research and development since that time.
Psilocybin. Image source: Getty Images.
Source Fool.com
