Shares of Compass Pathways climbed after the company said data from a late-stage trial of its drug for treatment-resistant depression confirmed its rapid onset and durable profile.

The stock jumped 8.7%, to $13.96, in premarket trading Tuesday. Through Monday's close, shares have nearly doubled year-to-date.

The biotechnology company said before the bell that nearly 40% of people who received the treatment, COMP360, in a recent trial achieved a clinically meaningful response. The drug, meanwhile, continues to be generally well-tolerated and safe.

Compass is working to submit a rolling new drug application and initial review with the U.S. Food and Drug Administration, planned for later this year. The company added that it plans to launch the drug in the first half of next year, subject to approvals and reschedulings.

"We are convinced this profile will lead to a profound shift in mental health care -- moving beyond daily or frequent administration towards an option potentially involving just a few treatments in a year that could be life changing for patients," Chief Executive Kabir Nath said.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

July 07, 2026 07:15 ET (11:15 GMT)

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