COMPASS Pathways plc

For the period ended Jun 30, 2025. Filed Jul 31, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2025 · Filed Jul 31, 2025

CMPS$9.25+0.8%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 1. Financial Statements (Unaudited)

Condensed Consolidated Balance Sheets

	June 30,	December 31,
	2025	2024
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$221,881	$165,081
Restricted cash	379	389
Prepaid expenses and other current assets	54,143	35,821
Total current assets	276,403	201,291
NON-CURRENT ASSETS:
Operating lease right-of-use assets	4,341	2,006
Deferred tax assets	4,290	3,774
Long-term prepaid expenses and other assets	8,502	6,595
Total assets	$293,536	$213,666
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$10,925	$12,283
Accrued expenses and other liabilities	10,370	14,495
Debt, current portion	7,982	5,513
Operating lease liabilities - current	2,051	1,725
Total current liabilities	31,328	34,016
NON-CURRENT LIABILITIES
Debt, non-current portion	22,951	24,652
Operating lease liabilities - non-current	2,304	303
Warrant liabilities	74,398	—
Total liabilities	$130,981	$58,971
Commitments and contingencies (Note 9)
SHAREHOLDERS' EQUITY:
Ordinary shares, £0.008 par value; 93,586,348 and 68,552,215 shares authorized, issued and outstanding at June 30, 2025 and December 31, 2024, respectively	946	702
Additional paid-in capital	767,190	704,919
Accumulated other comprehensive loss	(14,582)	(16,194)
Accumulated deficit	(590,999)	(534,732)
Total shareholders' equity	162,555	154,695
Total liabilities and shareholders' equity	$293,536	$213,666

Condensed Consolidated Statements of Operations and Comprehensive Loss

	Three Months ended June 30,		Six months ended June 30,
	2025	2024	2025	2024
OPERATING EXPENSES:
Research and development	$30,325	$29,069	$61,205	$53,970
General and administrative	12,608	14,253	31,344	27,925
Total operating expenses	42,933	43,322	92,549	81,895
Loss from operations:	(42,933)	(43,322)	(92,549)	(81,895)
OTHER INCOME (EXPENSE), NET:
Fair value change of warrant liabilities	(2,540)	—	16,920	—
Benefit from R&D tax credit	4,287	3,709	12,735	6,810
Interest income	1,898	2,408	4,284	4,668
Foreign exchange gains (losses)	2,349	225	4,482	(558)
Interest expense	(1,151)	(1,112)	(2,275)	(2,210)
Other (expense) income	(176)	167	627	295
Total other income, net	4,667	5,397	36,773	9,005
Loss before income taxes	(38,266)	(37,925)	(55,776)	(72,890)
Income tax expense	(137)	(176)	(491)	(398)
Net loss	$(38,403)	$(38,101)	$(56,267)	$(73,288)
Net loss per share attributable to ordinary shareholders: basic and diluted	$(0.41)	$(0.56)	$(0.62)	$(1.11)
Weighted average ordinary shares outstanding: basic and diluted	93,341,594	68,371,139	91,278,385	66,296,658
Net loss	$(38,403)	$(38,101)	$(56,267)	$(73,288)
Other comprehensive loss:
Foreign exchange translation adjustment	1,729	81	1,612	45
Comprehensive loss	$(36,674)	$(38,020)	$(54,655)	$(73,243)

Condensed Consolidated Statements of Shareholders’ Equity

ORDINARY SHARES £0.008 · ADDITIONAL PAID-IN CAPITAL · ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME · ACCUMULATED DEFICIT · TOTAL SHAREHOLDERS' EQUITY
	PAR VALUE
	SHARES	AMOUNT	AMOUNT	AMOUNT	AMOUNT	AMOUNT
Balance at December 31, 2023	61,943,471	$635	$621,645	$(16,926)	$(379,610)	$225,744
Exercise of share options	86,510	1	219	—	—	220
Issuance of ordinary shares, net of issuance costs	2,509,798	25	26,194	—	—	26,219
Issuance of ordinary shares to settle vested restricted stock units	50,705	—	—	—	—	—
Issuance of ordinary shares to settle warrants exercised	3,752,050	38	37,220	—	—	37,258
Shares tendered for withholding taxes	—	—	(185)	—	—	(185)
Share-based compensation expense	—	—	5,129	—	—	5,129
Unrealized loss on foreign currency translation	—	—	—	(36)	—	(36)
Net loss	—	—	—	—	(35,187)	(35,187)
Balance at March 31, 2024	68,342,534	$699	$690,222	$(16,962)	$(414,797)	$259,162
Exercise of share options	3,845	—	—	—	—	—
Issuance of ordinary shares to settle vested restricted stock units	4,438	—	—	—	—	—
Vesting of equity awards under the employee purchase plan	36,652	—	210	—	—	210
Share-based compensation expense	—	—	4,921	—	—	4,921
Unrealized gain on foreign currency translation	—	—	—	81	—	81
Net loss	—	—	—	—	(38,101)	(38,101)
Balance at June 30, 2024	68,387,469	$699	$695,353	$(16,881)	$(452,898)	$226,273

ORDINARY SHARES £0.008 · ADDITIONAL PAID-IN CAPITAL · ACCUMULATED OTHER COMPREHENSIVE (LOSS)/INCOME · ACCUMULATED DEFICIT · TOTAL SHAREHOLDERS' EQUITY
	PAR VALUE
	SHARES	AMOUNT	AMOUNT	AMOUNT	AMOUNT	AMOUNT
Balance at December 31, 2024	68,552,215	$702	$704,919	$(16,194)	$(534,732)	$154,695
Issuance of ordinary shares, net of issuance costs	24,014,728	233	54,583	—	—	54,816
Exercise of share options	164,422	2	—	—	—	2
Issuance of ordinary shares to settle vested restricted stock units	116,961	1	(1)	—	—	—
Share-based compensation expense	—	—	3,935	—	—	3,935
Unrealized loss on foreign currency translation	—	—	—	(117)	—	(117)
Net loss	—	—	—	—	(17,864)	(17,864)
Balance at March 31, 2025	92,848,326	$938	$763,436	$(16,311)	$(552,596)	$195,467
Exercise of share options	682,682	7	2	—	—	9
Issuance of ordinary shares to settle vested restricted stock units	9,375	—	—	—	—	—
Issuance of ordinary shares under the employee share purchase plan	45,965	1	156	—	—	157
Share-based compensation expense	—	—	3,596	—	—	3,596
Unrealized gain on foreign currency translation	—	—	—	1,729	—	1,729
Net loss	—	—	—	—	(38,403)	(38,403)
Balance at June 30, 2025	93,586,348	$946	$767,190	$(14,582)	$(590,999)	$162,555

Condensed Consolidated Statements of Cash Flows

(in thousands)

	Six months ended June 30,
	2025	2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$(56,267)	$(73,288)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation	195	124
Non-cash interest	768	677
Non-cash (gain)/loss on foreign currency remeasurement	(1,885)	356
Non-cash share-based compensation	7,531	10,050
Non-cash lease expenses	1,169	1,102
Transaction costs allocated to warrants	5,778	—
Fair value change of warrant liabilities	(16,920)	—
Changes in operating assets and liabilities
Prepaid expenses and other current assets	(14,369)	3,202
Deferred and prepaid tax assets	(515)	437
Other assets	(1,445)	637
Operating lease liabilities	(1,174)	(1,082)
Accounts payable	(2,337)	2,346
Accrued expenses and other liabilities	(4,875)	195
Net cash used in operating activities	(84,346)	(55,244)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of ordinary shares and Pre-funded Warrants, net of issuance costs	140,357	26,219
Proceeds from the exercise of warrants	—	37,258
Payments of withholding tax on stock award	—	(185)
Proceeds from issuance of shares under the employee share purchase plan	157	210
Proceeds from exercise of options	11	220
Net cash provided by financing activities	140,525	63,722
Effect of exchange rate changes on cash, cash equivalents and restricted cash	611	(99)
Net increase in cash, cash equivalents and restricted cash	56,790	8,379
Cash, cash equivalents and restricted cash, beginning of the period	165,470	220,638
Cash, cash equivalents and restricted cash, end of the period	$222,260	$229,017

The following table provides a reconciliation of the cash, cash equivalents and restricted cash balances as of each of the periods, shown above:

	Six months ended June 30,
	2025	2024
Cash and cash equivalents	$221,881	$228,628
Restricted cash	$379	$389
Total cash, cash equivalents and restricted cash	$222,260	$229,017

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.