COMPASS Pathways (CMPS) H.C. Wainwright 5th Annual Neuro Perspectives Virtual Conference summary

Key challenges and solutions in commercialization

• Integrating drug delivery with psychological support in clinical settings is essential for efficacy and safety.

• Existing medical models like chemotherapy and dialysis provide useful analogies for implementation.

• Learning from Spravato's commercialization helps anticipate and address unique challenges.

• Partnerships with diverse care sites inform scalable templates for treatment delivery.

• Building strong relationships with clinics and professionals is critical for successful integration.

Insurance coverage and reimbursement strategies

• Two reimbursement pathways are needed: one for the drug and one for psychological support.

• New CPT codes for psychedelic treatment support were issued and are now in use.

• Specific codes (0820–0822T) capture the full scope of psychological support during administration.

• Existing psychotherapy codes will be used for preparation and integration sessions.

• Adequate provider compensation is a focus to ensure broad adoption.

Health economics, outcomes, and pricing models

• Health economics and outcomes research (HEOR) models are being developed to demonstrate long-term value.

• Durability and depth of response data from Phase III trials will inform value arguments.

• Broad and equitable patient access is a goal, with ongoing data collection to support it.

• Value-based pricing is aspirational but per-dose pricing is expected at launch.