COMPASS Pathways plc

For the period ended Jun 30, 2026. Filed Aug 5, 2026.

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, 2026 · Filed Aug 5, 2026

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)

ITEM 1. FINANCIAL STATEMENTS

Condensed Consolidated Balance Sheets

	June 30,	December 31,
	2026	2025
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$433,295	$149,608
Restricted cash	425	379
Prepaid expenses and other current assets	41,954	41,503
Total current assets	475,674	191,490
NON-CURRENT ASSETS:
Operating lease right-of-use assets	3,937	3,424
Deferred tax assets	4,555	3,751
Long-term prepaid expenses and other assets	20,395	11,684
Total assets	$504,561	$210,349
LIABILITIES AND SHAREHOLDERS' EQUITY/(DEFICIT)
CURRENT LIABILITIES:
Accounts payable	$12,240	$15,222
Accrued expenses and other liabilities	15,701	9,214
Debt, current portion	—	17,523
Operating lease liabilities - current	1,885	2,110
Warrant liabilities	337,459	203,726
Total current liabilities	367,285	247,795
NON-CURRENT LIABILITIES:
Debt, non-current portion	50,727	14,110
Operating lease liabilities - non-current	2,016	1,292
Total liabilities	420,028	263,197
Commitments and contingencies (Note 9)
SHAREHOLDERS' EQUITY/(DEFICIT):
Ordinary shares, £0.008 par value; 135,722,306 and 96,085,785 shares authorized, issued and outstanding at June 30, 2026 and December 31, 2025, respectively	1,401	973
Additional paid-in capital	1,083,059	783,562
Accumulated other comprehensive loss	(14,741)	(14,789)
Accumulated deficit	(985,186)	(822,594)
Total shareholders' equity/(deficit)	84,533	(52,848)
Total liabilities and shareholders' equity/(deficit)	$504,561	$210,349

Condensed Consolidated Statements of Operations and Comprehensive Loss

	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025
OPERATING EXPENSES:
Research and development	$29,175	$30,325	$55,655	$61,205
General and administrative	23,197	12,608	39,621	31,344
Total operating expenses	52,372	42,933	95,276	92,549
Loss from operations:	(52,372)	(42,933)	(95,276)	(92,549)
OTHER (EXPENSE) INCOME, NET:
Fair value change of warrant liabilities	(205,577)	(2,540)	(74,661)	16,920
Interest income	3,744	1,898	6,163	4,284
Benefit from R&D tax credit	2,583	4,287	5,060	12,735
Interest expense	(1,483)	(1,151)	(2,948)	(2,275)
Foreign exchange (losses) gains	(904)	2,349	(1,640)	4,482
Other income (expense)	546	(176)	1,030	627
Total other (expense) income, net	(201,091)	4,667	(66,996)	36,773
Loss before income taxes	(253,463)	(38,266)	(162,272)	(55,776)
Income tax expense	(331)	(137)	(320)	(491)
Net loss	$(253,794)	$(38,403)	$(162,592)	$(56,267)
Net loss per share attributable to ordinary shareholders: basic and diluted	$(1.88)	$(0.41)	$(1.33)	$(0.62)
Weighted average ordinary shares outstanding: basic and diluted	135,039,810	93,341,594	122,679,123	91,278,385
Net loss	$(253,794)	$(38,403)	$(162,592)	$(56,267)
Other comprehensive income:
Foreign exchange translation adjustment	54	1,729	48	1,612
Comprehensive loss	$(253,740)	$(36,674)	$(162,544)	$(54,655)

Condensed Consolidated Statements of Shareholders' Equity / (Deficit)

ORDINARY SHARES £0.008 · ADDITIONAL PAID-IN CAPITAL · ACCUMULATED OTHER COMPREHENSIVE LOSS · ACCUMULATED DEFICIT · TOTAL SHAREHOLDERS' (DEFICIT)/EQUITY
	PAR VALUE
SHARES · AMOUNT · AMOUNT · AMOUNT · AMOUNT · AMOUNT
Balance at December 31, 2025	96,085,785	$973	$783,562	$(14,789)	$(822,594)		$(52,848)
Issuance of ordinary shares, net of issuance costs	17,500,000	189	131,097			131,286
Exercise of share options	6,333	1	23	—	—		24
Issuance of ordinary shares to settle vested restricted stock units	170,558	2	(2)	—	—		—
Issuance of ordinary shares to settle warrant exercised	21,160,619	228	153,905	—	—		154,133
Share-based compensation expense	—	—	2,896	—	—		2,896
Unrealized loss on foreign currency translation	—	—	—	(6)	—		(6)
Net income	—	—	—	—	91,202		91,202
Balance at March 31, 2026	134,923,295	1,393	1,071,481	(14,795)	(731,392)		326,687
Issuance of ordinary shares under ATM facility, net of issuance costs	108,000	1	1,396	—	—		1,397
Exercise of share options	136,883	1	1,126	—	—		1,127
Issuance of ordinary shares to settle vested restricted stock units	9,375	—	—	—	—		—
Issuance of ordinary shares under the employee share purchase plan	29,753	—	160	—	—		160
Issuance of ordinary shares to settle warrant exercised	515,000	6	5,108	—	—		5,114
Share-based compensation expense	—	—	4,027	—	—		4,027
Shares tendered for withholding taxes	—	—	(239)	—	—		(239)
Unrealized gain on foreign currency translation	—	—	—	54	—		54
Net loss	—	—	—	—	(253,794)		(253,794)
Balance at June 30, 2026	135,722,306	$1,401	$1,083,059	$(14,741)	$(985,186)		$84,533

ORDINARY SHARES £0.008 · ADDITIONAL PAID-IN CAPITAL · ACCUMULATED OTHER COMPREHENSIVE LOSS · 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,
	2026	2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$(162,592)	$(56,267)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation	—	195
Non-cash interest expense	513	768
Non-cash gain on foreign currency remeasurement	(1,396)	(1,885)
Non-cash share-based compensation expense	6,923	7,531
Non-cash lease expenses	1,032	1,169
Transaction costs allocated to warrants	643	5,778
Fair value change of warrant liabilities	74,661	(16,920)
Changes in operating assets and liabilities
Prepaid expenses and other current assets	(981)	(14,369)
Deferred and prepaid tax assets	(804)	(515)
Other assets	(9,030)	(1,445)
Operating lease liabilities	(1,047)	(1,174)
Accounts payable	(2,820)	(2,337)
Accrued expenses and other liabilities	6,656	(4,875)
Net cash used in operating activities	(88,242)	(84,346)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from the issuance of ordinary shares and pre-funded warrants associated with the 2026 Offering, net of issuance costs	140,643	140,357
Proceeds from issuance of ordinary shares under ATM facility, net of issuance costs	1,397	—
Proceeds from the exercise of ADS warrants	87,871	—
Proceeds from the exercise of PIPE warrants	5,114
Proceeds from conversion of ADS warrants into pre-funded warrants	115,333	—
Payments of tax withholdings on stock award	(239)	—
Proceeds from issuance of shares under the employee share purchase plan	160	157
Net proceeds from issuance of long term debt	18,582	—
Proceeds from exercise of options	1,151	11
Proceeds from issuance of pre-funded warrants associated with the 2025 Offering, net of issuance costs	1	—
Net cash provided by financing activities	370,013	140,525
Effect of exchange rate changes on cash, cash equivalents and restricted cash	1,962	611
Net increase in cash, cash equivalents and restricted cash	283,733	56,790
Cash, cash equivalents and restricted cash, beginning of the period	149,987	165,470
Cash, cash equivalents and restricted cash, end of the period	$433,720	$222,260

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

	As of June 30,
	2026	2025
Cash and cash equivalents	$433,295	$221,881
Restricted cash	425	379
Total cash, cash equivalents and restricted cash	$433,720	$222,260

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.