Atai Life Sciences N.V. - $ATAI STOCK NEWS

atai Life Sciences (NASDAQ: ATAI) has appointed Scott Braunstein, M.D., and Laurent Fischer, M.D., as new independent directors to its supervisory board, effective May 23, 2024. Scott Braunstein is the CEO and Chairman of Marinus Pharmaceuticals and has held key positions at Pacira Pharmaceuticals and JP Morgan Global Healthcare Fund. Laurent Fischer currently serves as the CEO and President of Adverum Biotechnologies and has a robust background with roles at CTI Biopharma, Tobira Therapeutics, and others. Jason Camm steps down after four years of service. The addition of Braunstein and Fischer is expected to strengthen atai's board as the company progresses into advanced clinical trials.

atai Life Sciences (NASDAQ: ATAI) reported its Q1 2024 financial results and corporate updates. Notably, the company commenced Phase 1b trials for VLS-01 with data expected in the second half of 2024. Beckley Psytech's BPL-003 Phase 2a showed rapid antidepressant effects, and Phase 2b data is expected in 2H 2024. Compass Pathways’ COMP360 demonstrated significant symptom improvement in PTSD patients. Co-Founder Florian Brand will step down as CEO by YE 2024, succeeded by Co-Founder Srinivas Rao. Financially, atai's cash and equivalents decreased to $121.3 million from $154.2 million in Q4 2023, primarily due to R&D and investment expenditures. The company anticipates its resources to fund operations into 2026. R&D expenses fell to $11.5 million, and G&A expenses also saw a decline, leading to a lower net loss of $26.7 million compared to the previous year.

atai Life Sciences dosed the first patient in Part 2 of Beckley Psytech’s Phase 2a study exploring BPL-003 as an adjunctive therapy to SSRIs in patients with Treatment Resistant Depression. Initial results from the monotherapy Part 1 showed positive outcomes, with a rapid and durable antidepressant effect lasting up to 12 weeks post-dose. Part 2 aims to investigate the safety, tolerability, efficacy, and pharmacokinetics of BPL-003 in combination with SSRIs, with results expected in H1 2025.

atai Life Sciences announced the publication of Beckley Psytech’s Phase 1 study of BPL-003 in the Journal of Psychopharmacology. BPL-003, a novel benzoate salt formulation of 5-MeO-DMT, showed safety, tolerability, and reliable induction of psychedelic effects in healthy participants. The study demonstrated rapid onset and short duration of effects, with potential for scalable single-dose treatment models. Positive participant feedback and plans for Phase 2a and 2b studies in Alcohol Use Disorder and Treatment Resistant Depression highlight the promising future of BPL-003.

Atai Life Sciences (ATAI) announces strategic investment in Beckley Psytech to accelerate the development of psychedelic-based therapies for mental health disorders. Positive Phase 2a results for BPL-003 in TRD patients show rapid and durable antidepressant effects. Dosing starts for VLS-01 in a Phase 1b study for TRD. Financially, the company expects funding to last into 2026.

atai Life Sciences (ATAI) announces positive initial results from BPL-003 Phase 2a study in Treatment Resistant Depression (TRD). A single dose demonstrated rapid and durable antidepressant effects, with 45% of patients in remission at week 12. BPL-003 showed good safety profile and was well-tolerated. Phase 2b study in 225 TRD patients underway with top-line results expected in H2 2024.

atai Life Sciences initiates Phase 1b trial for VLS-01, a rapid-acting antidepressant for treatment-resistant depression, with promising early results.

atai Life Sciences to participate in a panel discussion at the TD Cowen conference in Boston, MA on March 4, 2024, aiming to transform mental health treatment.

atai Life Sciences (ATAI) announced the appointment of Anne Johnson as Chief Financial Officer, succeeding Stephen Bardin. Johnson brings almost 20 years of biotechnology and pharmaceutical experience and will lead the company's financial organization. The interim CFO, Johnson, has demonstrated executive leadership, financial acumen, and a track record in the biopharmaceutical industry. She will work closely with CEO Florian Brand to execute the company's strategy. Stephen Bardin will continue in an advisory role until March 31, 2024, to support the transition.