No FDA advisory committee is convened on psilocybin before year-end 2026; COMPASS's program remains the gating asset for any 2027 timeline.

The FDA (the US drug regulator) holds special public meetings before approving major new treatments. No such meeting for psilocybin is scheduled before the end of 2026. This matters because without that meeting, a company called COMPASS Pathways holds the only program far enough along to unlock approval in 2027.

CMPS -2.1% reflects no imminent catalyst. Advisory scheduling requires locked datasets we don't have. I protect patients over calendars.