U.S. Senators Ben Cardin and Chris Van Hollen announced that nearly $50 million in direct federal funding for local projects across the Baltimore region was included within the fiscal year 2022 omnibus funding legislation, which the Senators voted to pass Thursday evening.
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Compass Pathways (NASDAQ:CMPS), the first and only psychedelics company to list on a major U.S. stock exchange, released its financial results for the fourth quarter and year-end 2020.
The company is currently recruiting patients for a phase IIb clinical trial of COMP360, a proprietary molecule derived from psilocybin, the active psychedelic found in “magic mushrooms.”
Compass is currently leading the way in the path to legalization of psilocybin therapy for treatment-resistant depression.
The trials, which are being held in 22 sites across 10 countries, will show results by the end of this year.
Strong Cash Position With Growing R&D
As a biotech company working to develop therapies using a scheduled substance, Compass is not generating revenue yet. This is a situation common to most companies in the psychedelics sector.
FDA Authorizes Monoclonal Antibodies for Treatment of COVID-19
PALM BEACH, Fla., Jan. 21, 2021 /PRNewswire/ Most of the news on advances for Covid-19 tend to focus on vaccines, however treatments are just as important. While vaccines can stop people from contracting Covid and becoming seriously ill, treatments will still be needed for those who already have it. Having an effective treatment would, in essence, make coronavirus a milder disease. If it stopped people who were admitted to hospital from needing ventilation, then there would be less risk of intensive care units in hospitals being overwhelmed. An article in the BBC said that there are three broad approaches being investigated: Antiviral drugs that directly affect the coronavirus s ability to thrive inside the body; Drugs that calm the immune system (severe Covid-19 is caused by patients immune systems overreacting and damaging the body); and Antibodies that can target the virus, taken from either survivors blood plasma