The FDA-nominee story produces no measurable (>5%) single-day move in CMPS or ATAI within 6 weeks.

Despite the media attention around the FDA nominee story, the stock prices of major psychedelic companies — including CMPS (Compass Pathways) and ATAI Life Sciences — are unlikely to fall more than 5% in a single day because of it. Investors who move serious money into biotech stocks care most about clinical trial results and regulatory decisions, not political drama. A news story about a nominee's background simply doesn't change whether a drug works or when it might get approved.

Reputation narratives don't reprice biotech absent trial or regulatory-timeline changes. Institutional capital waits on catalysts, not exposés.