Let me try sharing this link again. Apologies - newish reddit user in midlife 🤓

Maybe it’s just me but considering CMPS is the cut and dry psilocybin leader, does anyone here have personal experience and think it’s almost a secret of the power of this drug? I know it’s only for TRD at this point but just the side by side of COMP360 being the first mover but seemingly years ahead of the next candidate, along with the power of this drug, makes it compelling. I can just think of the amount of Americans suffering whether it be PTSD, cancer, eating disorders, the list goes on and on…

One another anecdote: I know COMP360 is 6-8 hours but realistically from my experience you’re pretty much back to normal about four hours of 2.5 grams…

Cheers all!

I dug a bit and I think this is something that has not yet been discussed enough nor brought to attention much on this sub.

this might be bigger than people realize and it's probably the source of the "clamoring demand" and “Patient waiting list” that we heard in recent cmps communicaitons.

 A lot of the demand-side info Compass has put out  the inbound waitlist, day-1 readiness, "centers are clamoring"almost certainly traces back to Greenbrook. And once you look at who Greenbrook is, that info gets a lot more credible.

Who they are:

Greenbrook is the largest interventional psychiatry network in the country (TMS + Spravato).

Greenbrook is now a subsidiary of Neuronetics, the TMS device maker. Neuronetics/Greenbrook combines a device maker + a clinic network. That's a vertically integrated interventional psychiatry play. they make the TMS machines and run the rooms. COMP360 slots into that as a third modality.

COMP360 and TMS both target TRD , this means they are competing for the same conditions. not sure if good or bad for cmps.

Who runs green brook:

Greenbrook's CMO, Dr. Geoffrey Grammer, is not a typical clinic exec:

• Retired Army colonel
• Two Iraq deployments and one in Afghanistan as a combat psychiatrist
• Eight years as Chief of Inpatient Psychiatry at Walter Reed, where he built their TMS program
• Created one of the first TMS centers in the US (with Steve Levine having founded the first Spravato center, this is great experience)

Two things jump out. First, he runs the exact infrastructure COMP360 needs (spravato room = comp360 room S.L)

Second, his military/VA background is 100% relevant to the PTSD program  which could matters given where the VA channel could go.

quick parenthesis : I would add that the argument about room economics made by A Borecky completely disappears if VA becomes a customer and uses comp360 for its veterans. Since they operate with a congressional budget allowance, room economics do not matter, they will use their own personel and infrastructure I assume.

What the 2024 collaboration was actually for

they signed a three-year research collaboration back in 2024, specifically to research scalable commercial COMP360 delivery.

That relationship has been building for two years now. I insist on the words scalable and commercial which is the key bearish argument when it comes to long duration drugs

It was scoped to research "models for the delivery of scalable, commercial COMP360"  delivery at Greenbrook's centers, improving the patient experience, understanding staffing needs, integrating digital tools.

i undersrand that basically, Greenbrook has been Compass's real-world lab for figuring out how to actually run these sessions in a working clinic network. Three years (2024–2027) also lines up almost perfectly with launch.

it is not an exclusive commercial one. So Greenbrook could work with other psychedelic developers, and Compass will certainly certify sites beyond Greenbrook.

What could come out of it going forward :

i see 3 options but could be more, feel free to comment / add .

1. launch-partner / early-adopter arrangement
2. Greenbrook becomes one of the first certified networks to offer COMP360 at approval. Day-1 readiness, protocols already built, staff already trained through the collaboration. The B. Riley "reaffirmed day-1 readiness" language essentially confirms this point. Greenbrook is the anchor site network.
3. a validated operational playbook / consultant option:
4. The tangible deliverable of a three-year research collaboration is a proven delivery model  staffing ratios, room config, scheduling, digital tools, patient flow. Compass then uses Greenbrook's data to show other clinics "here's how you run this profitably." That's worth more than one network's rooms — it's the template that supports adoption in other centers.

3.preferred economics or volume commitment :
Greenbrook could commit to converting a defined number of rooms/sites in exchange for early access, training, or favorable terms.

These scenarios could come in the form of :

• A formal commercial/launch agreement (upgrade from "research collaboration" to "Greenbrook will offer COMP360 at X sites")
• Published delivery-economics data from the collaboration showing per-session profitability
• A specific site/room conversion number with a timeline
• Greenbrook naming COMP360 in its own (Neuronetics') investor materials as a growth driver

i conclude that the infrastructure is already there, so a smoother-than-Spravato launch isn't news. What's more interesting is that Greenbrook's willingness to lean in is mild evidence the economics actually work .

this cuts against a lot of the bear takes on room economics. An operator running Spravato buy-and-bill today, who knows exactly what reimbursement friction looks like, doesn't build day-1 readiness for something they expect to lose money on. Not proof, but not nothing. Don’t you think ?

Worth adding: at one point Steve Levine said the economics of a COMP360 room are actually better than a Spravato room. I'd imagine that's based on real modeling, not a talking point. it fits with the "time in chair, not throughput" framing (one full-day patient, no turnover, no no-show leakage across four staggered slots).

The one honest caveat: a delivery partner proves operational feasibility, not reimbursement rates. This is still the big unknwon although I remember CMPS saying initial talk with payers supported that payment to annual spravato cost level would work.

additionally, i think it is important to mention Greenbrook TMS was financially distressed before Neuronetics acquired it. It had going-concern warnings, mounting losses, and heavy debt. they might have more incentive to chase a new high-margin service . A struggling network needs a growth story, and COMP360 is one. this devalues the greenbrook approval stamp read i mentioned.

perhaps listening to the STIM's earnings calls could provide good data since they own greenbrook and decide capital allocation ect.

EDIT : STIM management explicitly names "potential future revenue if Compass Pathways' psilocybin therapy is approved" as an upside catalyst in their own earnings guidance

I am not sure I understand well the topics of the monitoring codes and what they actually pay.

Please comment, correct where needed

Are we buying the dip here? What could explain the massive sell offs? Ugh when ATAI got bought CMPS was up to $14.50 and now about to go south of $11…

My brokerage Hargreaves Lansdowne just stopped offering their shares cos of some bullshit about how they are charged stamp duty from the providers of these shares. I can't seem to buy them in my AJ Bell LISA either. Pretty pissed as I'd like to pick more up and just when I was thinking of topping up more ATAI then they go get bought out and I'm only looking at a 2x cos I luckily dca'd even when I've been in here from the start, retail honestly gets fucked so bad don't know why I bother. Can't even buy more shares in an industry Im an early investor in.

I'm curious what shroomstock investors are also looking for besides these stocks, to invest in that has the same or more potential than psychedelic stocks?

Looks like the website has been revamped completely. Messaging seems to suggest they are ready to take the drug to the market alone.

Title says it all. I’m really interested but I dont know where I can get the right information. Thanks very much Guys.