Psilocybin-focused mental health company Compass Pathways (Nasdaq:CMPS) has seen its share price steadily decline since late last year. In early November, 2021, its share price flirted with reaching $50 per share. On July 18, CMPS shares closed at $13.02.
Today, however, the shares were up 6% in mid-day trading, hovering around $13.80, after the company announced it would install a new CEO on August 1.
Kabir Nath will replace the company’s current CEO and chairman, who will assume the role of executive chairman until the end of the year.
Kabir Nath
“I am grateful for this opportunity and excited to get to know all our teams here at Compass Pathways as well as the members of our community,” Nath wrote on LinkedIn, “This is an exciting time to be joining Compass and I can’t wait to see what we will accomplish together.”
Nath is a veteran of the life sciences industry, having held senior ro…