COMPASS Pathways (CMPS) Stock Jumps 25% After Trump Signs Psychedelics Executive Order

TLDR

• President Trump signed an executive order to speed up research and access to psychedelic treatments for PTSD and serious mental illness.
• COMPASS Pathways (CMPS) rose 25% in premarket trading following the news.
• CMPS also reported two positive Phase 3 trials of its COMP360 synthetic psilocybin for treatment-resistant depression.
• The company has begun a rolling FDA submission for COMP360.
• Analysts at Oppenheimer, Jefferies, and RBC all responded positively, citing faster paths to commercialization.

President Trump signed an executive order on April 20, 2026, directing federal agencies to accelerate research and expand access to psychedelic substances used abroad to treat PTSD and serious mental illness.

The move sent psychedelic-related stocks sharply higher in premarket trading.

COMPASS Pathways (CMPS) led the sector, jumping 25%. AtaiBeckley (ATAI) gained 22%, Definium Therapeutics (DFTX) rose 20%, and both GH Research (GHRS) and Cybin (HELP) surged 17%.

COMPASS Pathways plc, CMPS

The executive order came at a moment when COMPASS already had strong clinical momentum behind it.

Earlier this month, the company reported two positive Phase 3 trials for COMP360, its synthetic psilocybin therapy targeting treatment-resistant depression (TRD). A rolling FDA submission is now underway.

COMP360 had previously cleared late-stage trials with what the company described as robust efficacy and safety data. The rolling submission means the FDA can review completed sections before the full application is filed — a process that can shorten review timelines.

Analysts Back the Sector

Oppenheimer analyst Jay Olson said the executive order “represents a structural inflection for the US psychedelics sector by facilitating research, regulatory timelines, and patient access.” Olson flagged Atai Beckley, COMPASS Pathways, and Definium Therapeutics as having “differentiating advantages.”

Jefferies analyst Andrew Tsai pointed to alignment across the executive branch — including Trump, HHS, FDA, and the VA — saying “investor mindshare should rise meaningfully ahead of potential approvals in 2027–30.” He added that “the path to commercialization could be even faster now.”

RBC analyst Brian Abrahams called the order an acceleration of psychedelics as “the key next wave of mental health treatments,” naming Definium Therapeutics, COMPASS Pathways, and GH Research as direct beneficiaries.

What the Numbers Look Like

Analyst forecasts for COMPASS vary widely. The most optimistic project $193.1 million in revenue and $24.2 million in earnings by 2029. The most cautious estimates sit at around $59.5 million in revenue and $6.5 million in earnings by the same year.

The gap reflects real uncertainty around how label terms, reimbursement, and treatment site capacity will play out in practice.

COMPASS is currently burning through cash at a rate that requires the company to reach commercialization within a reasonable window to avoid further dilution or funding rounds.

The company’s most immediate milestones remain the FDA review of COMP360 for TRD, and a potential future filing targeting PTSD.

As of April 20, 2026, CMPS stock was up more than 40% on the day as trading opened, extending the premarket gains.

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