CMPS
COMPASS Pathways plc
NASDAQ
29.00
+12.00<----
+70.59%<-------
After Hours:31.50 +2.5 +8.62%<-----
WHAT AN IPO!
(CMPS)
29.00+12.00 (+70.59%)
At close: September 18 4:00PM EDT
OPEN
23.40 <---- . Why did no one tell me the magic mushroom stock was coming public so quickly.... They sound like they want to charge for what others will give for free...
This is a sign of an overheated market.
Compass, in its IPO paperwork, noted that it faces "substantial competition" from big drugmakers, along with academic and nonprofit researchers. It said such nonprofits, like the Usona Institute, "may be willing to provide psilocybin-based products at cost or for free, undermining our potential market for COMP360."
Carey Turnbull, a board member of Usona and the Heffter Research Institute, another psychedelics-research nonprofit, has helped fund some of the legal challenges against Compass' patenting efforts, Lucid News has reported.