Compass’s Psychedelic Drug to Treat Depression Meets Goal in Trial

Compass Pathways Plc’s shares plummeted after its psychedelic drug to treat a form of depression disappointed investors in a late-stage trial.

The company said its psilocybin drug reduced depression symptoms by 3.6 points on a rating scale compared to a placebo, meeting its goal but falling short of Wall Street expectations. The study evaluated 258 adults for a change in their symptoms at six weeks, Compass said Monday.