COMPASS Pathways plc

For the period ended Sep 30, 2026. Filed Nov 3, 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.

Sep 30, 2026 · Filed Nov 3, 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

	September 30,	December 31,
	2026	2025
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$443,979	$149,608
Restricted cash	425	379
Prepaid expenses and other current assets	43,144	41,503
Total current assets	487,548	191,490
NON-CURRENT ASSETS:
Operating lease right-of-use assets	3,454	3,424
Deferred tax assets	5,114	3,751
Long-term prepaid expenses and other assets	22,980	11,684
Total assets	$519,096	$210,349
LIABILITIES AND SHAREHOLDERS' EQUITY/(DEFICIT)
CURRENT LIABILITIES:
Accounts payable	$8,988	$15,222
Accrued expenses and other liabilities	16,970	9,214
Debt, current portion	1,425	17,523
Operating lease liabilities - current	1,803	2,110
Warrant liabilities	296,677	203,726
Total current liabilities	325,863	247,795
NON-CURRENT LIABILITIES:
Debt, non-current portion	49,561	14,110
Operating lease liabilities - non-current	1,605	1,292
Total liabilities	377,029	263,197
Commitments and contingencies (Note 9)
SHAREHOLDERS' EQUITY/(DEFICIT):
Ordinary shares, £0.008 par value; 141,684,353 and 96,085,785 shares authorized, issued and outstanding at September 30, 2026 and December 31, 2025, respectively	1,461	973
Additional paid-in capital	1,150,543	783,562
Accumulated other comprehensive loss	(14,920)	(14,789)
Accumulated deficit	(995,017)	(822,594)
Total shareholders' equity/(deficit)	142,067	(52,848)
Total liabilities and shareholders' equity/(deficit)	$519,096	$210,349

Condensed Consolidated Statements of Operations and Comprehensive Loss

	Three Months Ended September 30,		Nine Months Ended September 30,
	2026	2025	2026	2025
OPERATING EXPENSES:
Research and development	$23,458	$27,325	$79,113	$88,530
Selling, general and administrative	32,979	13,211	72,600	44,555
Total operating expenses	56,437	40,536	151,713	133,085
Loss from operations:	(56,437)	(40,536)	(151,713)	(133,085)
OTHER INCOME (EXPENSE), NET:
Fair value change of warrant liabilities	40,782	(101,318)	(33,879)	(84,398)
Interest income	3,596	1,588	9,759	5,872
Benefit from R&D tax credit	2,048	3,924	7,108	16,659
Interest expense	(1,505)	(1,105)	(4,453)	(3,380)
Foreign exchange gains (losses)	23	(883)	(1,617)	3,599
Other income	556	383	1,586	1,010
Total other income (expense), net	45,500	(97,411)	(21,496)	(60,638)
Loss before income taxes	(10,937)	(137,947)	(173,209)	(193,723)
Income tax benefit (expense)	1,106	230	786	(261)
Net loss	$(9,831)	$(137,717)	$(172,423)	$(193,984)
Net loss per share attributable to ordinary shareholders: basic	$(0.07)	$(1.44)	$(1.35)	$(2.09)
Weighted average ordinary shares outstanding: basic	138,719,375	95,337,993	128,084,630	92,646,458
Net loss per share attributable to ordinary shareholders: diluted	$(0.31)	$(1.44)	$(1.35)	$(2.09)
Weighted average ordinary shares outstanding: diluted	162,568,025	95,337,993	128,084,630	92,646,458
Net loss	$(9,831)	$(137,717)	$(172,423)	$(193,984)
Other comprehensive (loss) income:
Foreign exchange translation adjustment	(179)	(605)	(131)	1,007
Comprehensive loss	$(10,010)	$(138,322)	$(172,554)	$(192,977)

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
Issuance of ordinary shares under ATM facility, net of issuance costs	1,795,373	18	24,146	—	—	24,164
Exercise of share options	363,783	4	1,412	—	—	1,416
Issuance of ordinary shares to settle vested restricted stock units	18,530	—	—	—	—	—
Issuance of ordinary shares to settle warrant exercised	3,784,361	38	37,541	—	—	37,579
Share-based compensation expense	—	—	4,452	—	—	4,452
Shares tendered for withholding taxes	—	—	(67)	—	—	(67)
Unrealized loss on foreign currency translation	—	—	—	(179)	—	(179)
Net loss	—	—	—	—	(9,831)	(9,831)
Balance at September 30, 2026	141,684,353	$1,461	$1,150,543	$(14,920)	$(995,017)	$142,067

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
Exercise of share options	44,121	—	—	—	—	—
Issuance of ordinary shares to settle vested restricted stock units	26,909	—	—	—	—	—
Issuance of ordinary shares to settle warrant exercised	2,344,666	27	10,124	—	—	10,151
Share-based compensation expense	—	—	3,207	—	—	3,207
Unrealized loss on foreign currency translation	—	—	—	(605)	—	(605)
Net loss	—	—	—	—	(137,717)	(137,717)
Balance at September 30, 2025	96,002,044	$973	$780,521	$(15,187)	$(728,716)	$37,591

Condensed Consolidated Statements of Cash Flows

(in thousands)

	Nine Months Ended September 30,
	2026	2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$(172,423)	$(193,984)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation	—	210
Non-cash interest expense	771	1,104
Non-cash gain (loss) on foreign currency remeasurement	73	(682)
Non-cash share-based compensation expense	11,375	10,738
Non-cash lease expenses	1,533	1,114
Transaction costs allocated to warrants	643	5,778
Fair value change of warrant liabilities	33,879	84,398
Changes in operating assets and liabilities
Prepaid expenses and other current assets	(2,045)	(17,364)
Deferred and prepaid tax assets	(1,363)	(753)
Other assets	(11,572)	2,035
Operating lease liabilities	(1,558)	(1,150)
Accounts payable	(6,166)	(7,719)
Accrued expenses and other liabilities	7,842	(3,177)
Net cash used in operating activities	(139,011)	(119,452)
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 and the 2025 Financing, net of issuance costs	140,643	140,357
Proceeds from issuance of ordinary shares under ATM facility, net of issuance costs	25,561	—
Proceeds from the exercise of ADS warrants	87,871	—
Proceeds from the exercise of PIPE warrants	42,693
Proceeds from conversion of ADS warrants into pre-funded warrants	115,333	—
Payments of tax withholdings on stock award	(306)	—
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	2,567	11
Proceeds from issuance of pre-funded warrants associated with the 2025 Financing, net of issuance costs	1	—
Net cash provided by financing activities	433,105	140,525
Effect of exchange rate changes on cash, cash equivalents and restricted cash	323	(227)
Net increase in cash, cash equivalents and restricted cash	294,417	20,846
Cash, cash equivalents and restricted cash, beginning of the period	149,987	165,470
Cash, cash equivalents and restricted cash, end of the period	$444,404	$186,316

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 September 30,
	2026	2025
Cash and cash equivalents	$443,979	$185,937
Restricted cash	425	379
Total cash, cash equivalents and restricted cash	$444,404	$186,316

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.