Shares of Compass Pathways PLC (CMPS) plummeted 5.28% in Tuesday's trading session following the release of its third-quarter financial results. The clinical-stage mental health care company reported a larger-than-anticipated loss, disappointing investors and triggering a sell-off.

According to the earnings report, Compass Pathways posted a quarterly adjusted loss of $1.44 per share for the quarter ended September 30, significantly wider than the loss of $0.56 per share reported in the same quarter last year. This figure also surpassed the mean expectation of ten analysts, who had forecast a loss of $0.39 per share. The company's reported loss of $137.72 million for the quarter further underscored the financial challenges it faces.

Despite the negative financial results, Compass Pathways remains focused on advancing its research in mental health treatments. The company announced plans to speed up the launch of its depression drug, which could potentially offer a new avenue for growth. However, investors seemed more concerned with the immediate financial performance, leading to the sharp decline in stock price.