COMPASS Pathways Plc American Depository Shares (CMPS)

Compass Pathways, a U.K.-based biotech company focused on psilocybin, has completed dosing in a late-stage clinical trial for its synthesized psilocybin treatment, COMP005. The company is testing the treatment on patients with moderate to severe depression who have not responded to previous treatments. Investors are hopeful for the success of this trial, as the field of psychedelic medicine is seen as having significant potential.

The depression treatment market is experiencing steady growth, driven by rising mental health awareness, increasing prevalence of depression, and advancements in novel therapies. The market is expanding with the introduction of innovative antidepressants, psychedelic-based treatments, and digital therapeutics.

Several biotechnology firms have psychedelic treatments in development, with promising results from clinical trials. The psychedelic market is expected to grow significantly, and most investors are favorable towards psychedelic stocks.

U.S. stocks were lower, with the Dow Jones falling around 250 points on Monday. Shares of Micron Technology, Inc. (NASDAQ: MU) rose sharply during Monday’s session after B of A Securities maintained a Buy rating on the stock and raised its price target from $120 to $144. Micron Technology shares climbed 6.6% to $125.69 on Monday. Here are some other big stocks recording gains in today’s session. Doma Holdings Inc. (NYSE: DOMA) shares rose 34% to $6.08 after the company entered a merger transaction with TRG to go private at $6.29 per share in cash. Mesoblast Limited (NASDAQ: MESO) gained 22.4% to $6.13 after the FDA earlier in the week informed the company that the available clinical data from its Phase 3 study MSB-GVHD001 appears sufficient to support submission of the ...

The FDA’s move will speed up development of MindMed’s LSD-based drug as a treatment for generalized anxiety disorder.