H.C. Wainwright Maintains Buy on Atai Beckley (ATAI) Following Breakthrough Therapy and Merger Completion

Group 1 - Atai Beckley NV (NASDAQ:ATAI) is considered one of the most oversold biotech stocks, with H.C. Wainwright reaffirming a Buy rating and a $15 price target following the third-quarter report [1] - The company’s BPL-003 received Breakthrough Therapy Designation (BTD) for treatment-resistant depression, which is a significant milestone [1][2] - The merger between Atai Life Sciences and Beckley Psytech has been concluded, and shareholders approved the acquisition [3] Group 2 - The Phase 2b clinical trial for BPL-003 showed promising results, with a 12 mg dose administered eight weeks after the original dose leading to accelerated antidepressant effects lasting up to eight weeks [2] - Atai Beckley NV is focused on developing innovative treatments for mental health disorders, including depression, anxiety, and substance use disorders [4] - The company is planning a redomiciliation in Delaware and has filed a proposal for the resale of up to 5.3 million shares related to the acquisition of Beckley Psytech [3]