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LONDON/NEW YORK - Biotechnology company Compass Pathways plc (NASDAQ:CMPS) announced Tuesday the appointment of Justin Gover to its Board of Directors, effective immediately, as the company prepares for potential regulatory approval of its investigational COMP360 synthetic psilocybin treatment.
Gover brings more than 25 years of biopharmaceutical leadership experience, having served as the founding CEO of GW Pharmaceuticals from 1999 until its $7 billion acquisition by Jazz Pharmaceuticals in 2021. During his tenure at GW, he oversaw the FDA approval of Epidiolex, the first plant-derived cannabinoid medicine.
The appointment comes as Compass transitions following positive results in its first Phase 3 trial for treatment-resistant depression (TRD). The company’s COMP360 treatment has received Breakthrough Therapy designation from the FDA and Innovative Licensing and Access Pathway designation in the UK.
"With Compass being potentially the closest psychedelic company to regulatory approval, Justin’s extensive experience in scaling operations and navigating complex regulatory landscapes for scheduled products will be beneficial," said Kabir Nath, Chief Executive Officer of Compass Pathways, in a press release statement.
As part of the board transition, Dr. Linda McGoldrick will retire from her position at the end of October after more than five years of service, during which she helped guide the company through its 2020 initial public offering and early clinical milestones.
Gover currently serves on the board of Xenon Pharmaceuticals (NASDAQ:XENE), a $2.4 billion market cap company, and is involved with nonprofit organizations including the Rady Children’s Hospital Institute for Genomic Medicine and CURE Epilepsy. According to InvestingPro data, Xenon maintains a strong financial position with a healthy current ratio of 17.6, though 7 analysts have recently revised their earnings expectations downward. The company’s stock currently trades below consensus analyst targets, which range from $42 to $65 per share.
Compass Pathways, headquartered in London with offices in New York, focuses on developing evidence-based innovations for mental health conditions. Want deeper insights into companies like Xenon and Compass Pathways? InvestingPro offers comprehensive analysis through Pro Research Reports, available for 1,400+ US stocks, transforming complex financial data into actionable intelligence for smarter investment decisions.
In other recent news, Xenon Pharmaceuticals has been added to the Russell 3000 and 2000 indexes, marking a significant milestone for the company as it gains broader market exposure. RBC Capital has raised its price target for Xenon Pharmaceuticals from $55 to $57, maintaining an Outperform rating, based on promising translatability of Phase II to Phase III results for their epilepsy drug candidate, azetukalner. H.C. Wainwright also reaffirmed its Buy rating on Xenon Pharmaceuticals with a price target of $53, citing the potential of azetukalner in treating refractory focal epilepsy. Additionally, Xenon has appointed Darren Cline as Chief Commercial Officer to lead the commercial strategy for its product portfolio. At its 2025 Annual Meeting of Shareholders, Xenon reported that approximately 94.10% of eligible shares participated, with all director nominees elected to serve until the 2026 meeting. These developments reflect ongoing strategic and operational advancements for Xenon Pharmaceuticals.
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