COMPASS Pathways Plc

Good morning and welcome to Compass Pathways' first quarter 22 earnings call. During the presentation, all participants will be in a listen-only mode. Afterwards, we will conduct a question and answer session. At that time, if you have a question, please press the 1 followed by the 4 on your telephone. If at any time during the conference you need to reach an operator, please press star 0. As a reminder, today's conference is being recorded. I would like to turn the conference over to Stephen Schultz, VP Investor Relations. Please go ahead, sir.

Welcome all of you and thank you for joining us today for our first quarter 2022 results conference call. We hope you've had a chance to review the press release issued earlier today covering these results. Again, my name is Steve Schultz, Senior Vice President of Investor Relations at Compass Pathways. Today I'm joined by George Goldsmith, Chairman and Chief Executive Officer, Dr. Guy Goodwin, Chief Medical Officer, and Mike Falvey, our Chief Financial Officer. The call is being recorded and will be available on the Compass Pathways Investor Relations website shortly after the conclusion of the call. Before we begin, let me remind everyone that during the call today, the team will be making forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as amended. You should not place undue reliance on these forward-looking statements. Actual events or results could differ materially from those expressed or implied by any forward-looking statements as a result of various risks, uncertainties, and other factors, including those risks and uncertainties described under the heading Risk Factors in our quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission and in subsequent filings made by Compass with the SEC. Additionally, these forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. We specifically disclaim any obligation to update or revise any forward-looking statement. With that, I'll now hand the call over to our Chairman and CEO, George Goldsmith. Thank you, Steve, and welcome, everyone.

I will begin today's call with an update on our business progress. I will then ask Guy to provide some high level comments on the recently completed end of phase two meeting with the FDA, and then Mike will provide a financial review. After our prepared comments, we will open the call to questions. I'm pleased to report to you that in this first quarter, Compass continued to make significant progress toward our goal of transforming mental health care. Too many individuals who suffer from mental health Thank you for joining us today. In the face of this growing crisis, Compass continues to advance our development programs in both treatment-resistant depression, TRD, and in post-traumatic stress disorder, PTSD, two substantially underserved patient populations. Our strong cash position and experienced team of experts across key disciplines continues to differentiate Compass in this area of science and also keeps us on track to bring our therapy safely to patients as quickly as possible. Our innovative clinical care pathways that integrate psychedelic medicine, digital platforms, data science, and psychological support to help people get well and stay well are novel and valuable propositions for patients, healthcare providers, and payers. This integrated approach is unique both in psychedelic research and in the treatment of mental health challenges overall. Our strategy of innovation is one that we believe will propel Compass to a much broader leadership role. in developing personalized, predictive, and preventative approaches in mental health care. We know that psychiatrists and therapists caring for patients with these severe mental health conditions are eager for new treatment options. This was reflected in a survey conducted late last year in which doctors surveyed believed psilocybin therapy has potential benefit for patients with TRD. In this survey, half would prescribe psilocybin therapy if it were approved. We are also aware of the desire of individuals with these conditions to have access to new non-invasive ways of addressing their depression. They see this as a move from drugs that may only partially alleviate symptoms of depression to a treatment that provides the opportunity for a breakthrough in emotional understanding, a life-changing experience. Based on our clinical results to date, we believe this better outcome is within reach for a significant number of these individuals. Let me now turn to Guy, who will provide his thoughts on the next steps in our planned Phase 3 program. Guy?