KOL Sees Psychedelics as the Biggest Change to Psychiatry: CMPS DFTX ATAI HELP

研报英文原文证据摘录

KOL Sees Psychedelics as the Biggest Change to Psychiatry: CMPS DFTX ATAI HELP

USA | Biotechnology EquityJulyResearch5, 2026

KOL Sees Psychedelics as the Biggest Change

to Psychiatry: CMPS DFTX ATAI HELP

We hosted an interventional psychiatrist at RADIAL in NYC: (1) In depression,

psychedelics offering rapid/durable efficacy should become "practice-

changing" and "bigger than" JNJ's Spravato ($5B+ guidance). (2) Patient

demand should be a non-issue as well, especially for COMP360's launch (oral .

psilocybin) in early 2027 for TRD. (3) DT120's (oral LSD) Phase III MDD data Source: Jefferies

is a "game changer." (4) Major adoption of psychedelics is predicated on 5+

variables.

** See 25 pages inside for full discussion. On 7/17 (Fri),

we are hosting a second NYC lunch on psychedelics **

Dr. Malzberg confirms MDD/TRD patient demand for interventional psychiatry treatments (TMS,

ketamine, Spravato, etc) is growing rapidly. (a) At RADIAL, the Manhattan center operates 6 rooms,

2 of which are Spravato-dedicated (dissociative esketamine nasal spray). The other rooms offer

Spravato as well. (b) Spravato's edge is its rapid onset and broad payor coverage, but its efficacy

durability is a weakness. TMS responders do benefit from long durability, but TMS machines require

high upfront costs. (c) On average, his 50+ Spravato patients come in every 2-3 weeks. (d) The

monitoring time per session is 135min (2+ hours), so each room can dose 3+ patients per day.

Staffing intervention for panic attacks or BP pressure changes is required <10-20% of the time.

(e) For staff monitoring reimbursement, he generates at least $800-900 of revenue per patient

per session. Since the average patient visits him 20x year, the annual revenue could be $16K+