Compass Pathways Has Entered Into A Term Loan Agreement With Hercules Capital For Up To $50M, To Support The COMP360 Phase 3 Program In Treatment-resistant Depression, With Initial Data Expected In The Summer Of 2024
Portfolio Pulse from Benzinga Newsdesk
Compass Pathways has secured a term loan agreement with Hercules Capital for up to $50M to support its COMP360 Phase 3 program in treatment-resistant depression. The initial data is expected in the summer of 2024. COMPASS drew an initial $30 million at closing on June 30, 2023, with an additional $20 million available in two tranches of up to $10 million each.
July 05, 2023 | 11:06 am
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POSITIVE IMPACT
Compass Pathways has secured a significant loan to support its COMP360 Phase 3 program, which could potentially boost its financial stability and future prospects.
The loan agreement provides Compass Pathways with the necessary funding to support its COMP360 Phase 3 program. This could potentially lead to positive outcomes for the company, boosting its financial stability and future prospects.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Hercules Capital has entered into a loan agreement with Compass Pathways, which could potentially increase its revenue through interest payments.
By providing a loan to Compass Pathways, Hercules Capital stands to increase its revenue through interest payments. This could potentially have a positive impact on its financial performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100