Today’s Change
(33.40%) $1.79
Current Price
$7.15
Key Data Points
Market Cap
Day’s Range
$7.02 – $7.22
52wk Range
$2.81 – $7.22
Volume
166M
Avg Vol
10.4M
AtaiBeckley (ATAI +33.40%), a clinical-stage mental health and psychedelic drug developer, closed at $7.15, up 33.4%. Eli Lilly’s (LLY +1.38%) announced acquisition drove the move, and investors are watching the deal terms and closing process. Trading volume reached 164.9M shares, coming in about 1,494% above its three-month average of 10.3M shares. AtaiBeckley IPO’d in 2021 and has fallen 64% since going public.
How the markets moved today
The S&P 500 (^GSPC 0.51%) fell 0.50% to 7,535, and the Nasdaq Composite (^IXIC 1.47%) fell 1.47% to 25,882. Among clinical-stage biopharmaceuticals focused on mental health and psychedelic therapeutics, COMPASS Pathways (CMPS 6.61%) fell 6.61% to $12.43, while broader psychedelics sentiment stayed tied to AtaiBeckley’s Lilly deal.
What this means for investors
Pharmaceutical behemoth Eli Lilly acquired AtaiBeckley in a purchase worth up to $3.8 billion today, sending the latter’s shares 34% higher. The deal consists of $6.75 in cash per ATAI share, as well as $2.50 in contingent value rights (CVRs) tied to two of AtaiBeckley’s treatments meeting certain milestones over the next four, five, and seven years.
Thanks to the value of these CVRs, ATAI’s $7.15 share price currently sits above the $6.75 cash portion of the deal, suggesting the market sees potential in AtaiBeckley’s psychedelic treatments reaching their various milestones. AtaiBeckley offers DMT and other psychedelic treatments for depression, anxiety, and opioid use disorder, and has seen its stock double over the last year thanks to today’s deal and the Trump administration’s positive outlook on psychedelic-based treatments.