AtaiBeckley (ATAI)
Market Price (5/22/2026): $4.33 | Market Cap: $1.5 BilSector: Health Care | Industry: Biotechnology
AtaiBeckley (ATAI)
Market Price (5/22/2026): $4.33Market Cap: $1.5 BilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -15% Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 87% Megatrend and thematic driversMegatrends include Precision Medicine, and Biotechnology & Genomics. Themes include Biopharmaceutical R&D, Psychedelic Therapeutics, Show more. | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -123 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3531% Expensive valuation multiplesP/SPrice/Sales ratio is 444x Stock price has recently run up significantly12M Rtn12 month market price return is 127% Weak revenue growthRev Chg QQuarterly Revenue Change % is -39% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 467% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -3037%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -3197% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -47% Key risksATAI key risks include [1] the potential failure of its clinical trials for complex mental health disorders and [2] the heightened regulatory scrutiny and unique approval challenges facing its novel psychedelic-based drug candidates. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -15% |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 87% |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Biotechnology & Genomics. Themes include Biopharmaceutical R&D, Psychedelic Therapeutics, Show more. |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -123 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3531% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 444x |
| Stock price has recently run up significantly12M Rtn12 month market price return is 127% |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -39% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 467% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -3037%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -3197% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -47% |
| Key risksATAI key risks include [1] the potential failure of its clinical trials for complex mental health disorders and [2] the heightened regulatory scrutiny and unique approval challenges facing its novel psychedelic-based drug candidates. |
Qualitative Assessment
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1. Advancement of BPL-003 to Phase 3 Clinical Trials.
AtaiBeckley announced significant progress for its lead candidate, BPL-003 (mebufotenin benzoate nasal spray) for treatment-resistant depression (TRD). Following positive Phase 2b topline results and a successful End-of-Phase 2 meeting with the FDA, the company confirmed in March and May 2026 its plans to initiate two parallel Phase 3 pivotal studies in Q2 2026. BPL-003 holds Breakthrough Therapy Designation from the FDA, and its Phase 2b results demonstrated rapid, robust, and durable antidepressant effects.
2. Strong Financial Position and Extended Cash Runway.
The company reported a solid financial standing with cash, cash equivalents, and short-term securities totaling $209.9 million as of March 31, 2026. This capital is projected to fund operations into 2029, a crucial factor for a clinical-stage biotechnology company, providing reassurance for the extensive costs associated with late-stage clinical trials, including the anticipated BPL-003 Phase 3 topline readouts.
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Stock Movement Drivers
Fundamental Drivers
The 15.2% change in ATAI stock from 1/31/2026 to 5/21/2026 was primarily driven by a 63.7% change in the company's P/S Multiple.| (LTM values as of) | 1312026 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.76 | 4.33 | 15.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3 | 3 | 15.6% |
| P/S Multiple | 271.1 | 443.7 | 63.7% |
| Shares Outstanding (Mil) | 218 | 357 | -39.1% |
| Cumulative Contribution | 15.2% |
Market Drivers
1/31/2026 to 5/21/2026| Return | Correlation | |
|---|---|---|
| ATAI | 15.2% | |
| Market (SPY) | 7.6% | 36.6% |
| Sector (XLV) | -3.9% | 19.3% |
Fundamental Drivers
The -25.9% change in ATAI stock from 10/31/2025 to 5/21/2026 was primarily driven by a -45.0% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 10312025 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.84 | 4.33 | -25.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2 | 3 | 51.1% |
| P/S Multiple | 497.2 | 443.7 | -10.8% |
| Shares Outstanding (Mil) | 197 | 357 | -45.0% |
| Cumulative Contribution | -25.9% |
Market Drivers
10/31/2025 to 5/21/2026| Return | Correlation | |
|---|---|---|
| ATAI | -25.9% | |
| Market (SPY) | 9.5% | 28.4% |
| Sector (XLV) | 3.6% | 11.8% |
Fundamental Drivers
The 188.7% change in ATAI stock from 4/30/2025 to 5/21/2026 was primarily driven by a 1032.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302025 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.50 | 4.33 | 188.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 3 | 1032.5% |
| P/S Multiple | 782.7 | 443.7 | -43.3% |
| Shares Outstanding (Mil) | 161 | 357 | -55.0% |
| Cumulative Contribution | 188.7% |
Market Drivers
4/30/2025 to 5/21/2026| Return | Correlation | |
|---|---|---|
| ATAI | 188.7% | |
| Market (SPY) | 35.5% | 22.4% |
| Sector (XLV) | 7.3% | 12.6% |
Fundamental Drivers
The 126.7% change in ATAI stock from 4/30/2023 to 5/21/2026 was primarily driven by a 1403.4% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302023 | 5212026 | Change |
|---|---|---|---|
| Stock Price ($) | 1.91 | 4.33 | 126.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 3 | 1403.4% |
| P/S Multiple | 1,306.8 | 443.7 | -66.0% |
| Shares Outstanding (Mil) | 159 | 357 | -55.6% |
| Cumulative Contribution | 126.7% |
Market Drivers
4/30/2023 to 5/21/2026| Return | Correlation | |
|---|---|---|
| ATAI | 126.7% | |
| Market (SPY) | 85.6% | 25.4% |
| Sector (XLV) | 16.6% | 16.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ATAI Return | -61% | -65% | -47% | -6% | 208% | 0% | -79% |
| Peers Return | 51% | -13% | 36% | -7% | -6% | -20% | 25% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 98% |
Monthly Win Rates [3] | |||||||
| ATAI Win Rate | 14% | 33% | 33% | 50% | 75% | 20% | |
| Peers Win Rate | 58% | 53% | 53% | 47% | 56% | 30% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| ATAI Max Drawdown | - | -69% | -61% | -59% | -53% | -23% | |
| Peers Max Drawdown | -49% | -45% | -41% | -48% | -50% | -30% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: HELP, NBIX, ACAD, AVXL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/21/2026 (YTD)
How Low Can It Go
| Event | ATAI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -42.1% | -18.8% |
| % Gain to Breakeven | 72.7% | 23.1% |
| Time to Breakeven | 49 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -11.4% | -7.8% |
| % Gain to Breakeven | 12.8% | 8.5% |
| Time to Breakeven | 7 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -48.0% | -9.5% |
| % Gain to Breakeven | 92.3% | 10.5% |
| Time to Breakeven | 39 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -34.6% | -6.7% |
| % Gain to Breakeven | 53.0% | 7.1% |
| Time to Breakeven | 9 days | 31 days |
In The Past
AtaiBeckley's stock fell -42.1% during the 2025 US Tariff Shock. Such a loss loss requires a 72.7% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | ATAI | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -42.1% | -18.8% |
| % Gain to Breakeven | 72.7% | 23.1% |
| Time to Breakeven | 49 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -48.0% | -9.5% |
| % Gain to Breakeven | 92.3% | 10.5% |
| Time to Breakeven | 39 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -34.6% | -6.7% |
| % Gain to Breakeven | 53.0% | 7.1% |
| Time to Breakeven | 9 days | 31 days |
In The Past
AtaiBeckley's stock fell -42.1% during the 2025 US Tariff Shock. Such a loss loss requires a 72.7% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About AtaiBeckley (ATAI)
AI Analysis | Feedback
Here are 1-2 brief analogies to describe AtaiBeckley (ATAI):
An early-stage 'Eli Lilly' focused entirely on developing new drugs for mental health.
The 'Moderna for mental health,' pioneering a diverse pipeline of novel therapies to tackle psychiatric disorders.
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- PCN-101: A subcutaneous formulation of R-ketamine for the treatment of treatment-resistant depression (TRD).
- RL-007: A cholinergic, glutamatergic, and GABA-B receptor modulator designed to treat cognitive impairment associated with schizophrenia.
- DMX-1002: An oral formulation of ibogaine targeting opioid use disorder (OUD).
- GRX-917: An oral formulation of a deuterated version of etifoxine for generalized anxiety disorder treatment.
- NN-101: A novel intranasal formulation of N-acetylcysteine developed to treat mild traumatic brain injuries.
- VLS-01: A formulation of N,N-dimethyltryptamine intended for the treatment of TRD.
- EMP-01: An oral formulation of 3,4-methylenedioxymethamphetamine for the treatment of post-traumatic stress disorder (PTSD).
- RLS-01: A formulation of Salvinorin A being developed for TRD.
- KUR-101: An oral formulation of deuterated mitragynine aimed at treating OUD.
- DMX-1001: An oral formulation of noribogaine also focused on the treatment of OUD.
AI Analysis | Feedback
Atai Life Sciences N.V. (ATAI) is a clinical-stage biopharmaceutical company focused on the research and development of therapeutic candidates for various mental health disorders. Its drug candidates are currently in different phases of clinical trials and have not yet been commercialized.
As a clinical-stage company, ATAI does not currently have commercialized products available for sale to end-users or other companies. Therefore, it does not have major customers in the traditional sense of purchasers of goods or services.
AI Analysis | Feedback
The major suppliers for Atai Life Sciences N.V. (ATAI) are:
- Catalent (CTLT)
- Hovione
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Srinivas Rao, Chief Executive Officer
Srinivas Rao became the sole Chief Executive Officer of Atai Life Sciences (now AtaiBeckley) on January 1, 2025, after previously serving as Co-CEO and Chief Scientific Officer. He is also the CEO of Atai portfolio company, EntheogeniX Biosciences. Dr. Rao has over 19 years of experience in the pharmaceutical and biotechnology industries, holding Chief Scientific, Medical, or Executive Officer roles at various companies, including venture-backed startups and publicly-traded firms. He received his M.D. and Ph.D. in neurobiology from Yale, and holds Bachelor and Master of Science degrees in Electrical Engineering from Yale. He is recognized for bringing an engineering mindset, focused on simplicity and scalability, to drug development and for helping transform Atai from an investment fund into an operating biopharmaceutical platform.
Michael Faerm, Chief Financial Officer
Michael Faerm was appointed Chief Financial Officer of AtaiBeckley, effective March 9, 2026. He brings over 25 years of experience in life sciences finance, including equity research and investment banking. His past roles include serving as CFO in various capacities and as interim CFO at Harpoon, which was acquired by Merck.
Christian Angermayer, Co-Founder & Chairman of the Board
Christian Angermayer is a serial entrepreneur and investor who founded Atai Life Sciences in 2018. He is also the founder of Apeiron Investment Group, a private investment firm with over USD 2.5 billion under management, focusing on areas like life sciences, fintech, and crypto. Angermayer co-founded Ribopharma AG at 21, which later merged with Alnylam Pharmaceuticals and went public. He has been a lead investor in numerous successful companies and co-founded the blockchain startup Plasma.
Gerd Kochendoerfer, Chief Operating Officer
Gerd Kochendoerfer joined Atai Life Sciences as Chief Operating Officer. His appointment was made to strengthen the leadership team by enhancing capabilities in operational excellence for the company's clinical programs.
Glenn Short, Chief Scientific Officer
Glenn Short serves as the Chief Scientific Officer of Atai Life Sciences. In this role, he leads research programs, including discovery, nonclinical pharmacology, and preclinical development, with a focus on advancing novel 5-HT2AR agonists with non-hallucinogenic potential. He has over 20 years of experience in both industry and research.
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Key Risks to Atai Life Sciences (ATAI)
- Clinical Trial Failure and Regulatory Approval Risk: As a clinical-stage biopharmaceutical company, Atai Life Sciences' success is critically dependent on the successful outcome of its numerous drug candidates in preclinical and clinical trials, as well as obtaining necessary regulatory approvals. The vast majority of drug candidates fail during development or do not receive regulatory clearance, which could lead to significant financial losses, delays, and a failure to bring any products to market. This risk is amplified by the fact that many of their candidates target complex mental health disorders and, in some cases, involve novel formulations of substances (e.g., psychedelics) that may face heightened scrutiny and unique regulatory challenges.
- Capital Requirements and Funding Risk: Developing and commercializing new pharmaceutical products is an extremely costly and time-intensive process. Atai Life Sciences, with no approved products generating revenue, is highly reliant on external financing through equity or debt offerings to fund its research and development activities, clinical trials, and operational expenses. The inability to secure sufficient additional funding on acceptable terms, or at all, could significantly delay or halt the development of its pipeline, jeopardizing the company's long-term viability.
- Competition and Intellectual Property Risk: The pharmaceutical and biotechnology industries are highly competitive. Atai Life Sciences faces competition from established pharmaceutical companies and emerging biotechs that may be developing similar or superior treatments for mental health disorders. Additionally, the company's future success depends significantly on its ability to obtain, maintain, and enforce intellectual property protection for its therapeutic candidates and technologies. Failure to adequately protect its intellectual property or the emergence of competitive products could adversely affect its market position and revenue potential.
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Addressable Markets for Atai Life Sciences N.V. (ATAI) Main Products or Services
- Treatment-Resistant Depression (TRD): The global market for treatment-resistant depression is estimated to be valued at approximately USD 2.67 billion in 2026 and is projected to reach USD 6.15 billion by 2034. Another estimate places the global market at USD 2.0 billion in 2025, with a projection to grow to USD 4.8 billion by 2035. In 2022, the market size in the seven major markets (7MM), which includes the United States, EU4 (Germany, Spain, Italy, France), and the United Kingdom, and Japan, was approximately USD 3.1 billion. The United States alone accounted for approximately USD 2.4 billion of this market in 2022.
- Cognitive Impairment Associated with Schizophrenia (CIAS): The global market for Cognitive Impairment Associated with Schizophrenia is estimated to be valued at USD 5.47 billion in 2024 and is expected to reach USD 9.54 billion by 2035. Another source indicates a global market valuation of USD 5.48 billion in 2025, projected to reach USD 7.87 billion by 2032. In 2023, the market size across the 7MM was approximately USD 948.1 million, with the U.S. contributing around USD 706.2 million. North America holds the largest share in this market.
- Opioid Use Disorder (OUD): The global opioid use disorder market size is valued at USD 5.90 billion in 2025 and is predicted to increase to approximately USD 15.32 billion by 2034. Another report states a global market size of USD 7.15 billion in 2025, projected to reach around USD 20.61 billion by 2035. In 2023, the market size in the 7MM was around USD 2 billion, with the United States representing approximately USD 1.4 billion of that. The U.S. market specifically is valued at USD 3.37 billion in 2025 and is projected to be worth around USD 9.48 billion by 2035. North America is anticipated to lead the global market.
- Generalized Anxiety Disorder (GAD): The global generalized anxiety disorder market was valued at USD 7.93 billion in 2025 and is projected to reach USD 9.72 billion by 2030. Another estimate indicates a global market valued at USD 2.14 billion in 2025, expected to grow to USD 5.06 billion by 2035. In 2023, the market size in the 7MM was approximately USD 1.56 billion, with the United States accounting for nearly USD 1.019 billion. North America was the largest region in this market in 2025.
- Mild Traumatic Brain Injuries (mTBI): The global mild traumatic brain injury treatment market size is expected to grow from USD 5.76 billion in 2025 to USD 8.59 billion by 2035. Another estimate places the global market size at USD 5.96 billion in 2026, projected to reach USD 7.18 billion by 2031. In North America, the market was valued at USD 2.58 billion in 2024 and is expected to rise to USD 3.82 billion by 2035.
- Post-traumatic Stress Disorder (PTSD): The global post-traumatic stress disorder treatment market size is calculated at USD 2.37 billion in 2025 and is predicted to increase to approximately USD 3.55 billion by 2035. Another source projects the global market to grow from USD 2.04 billion in 2025 to over USD 3.55 billion by 2035. The market size in the 7MM is expected to grow from USD 1,867 million in 2025 to USD 5,256 million in 2034. North America dominated the global market with the largest market share of 58% in 2025.
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Atai Life Sciences N.V. (ATAI) anticipates several key drivers for future revenue growth over the next 2-3 years, primarily stemming from the progression and potential commercialization of its diverse pipeline of mental health therapeutics and strategic corporate developments.
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Advancement and Potential Commercialization of BPL-003: The company's lead candidate, BPL-003, an intranasal formulation for treatment-resistant depression (TRD), is a significant growth driver. AtaiBeckley has received positive feedback from the U.S. Food and Drug Administration (FDA) regarding its Phase 3 development plan for BPL-003, with promising Phase 2b results already reported. An End-of-Phase 2 meeting with the FDA is expected in the third quarter of 2025, which could pave the way for later-stage trials and eventual market entry.
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Progression and Potential Launch of VLS-01: VLS-01, a buccal film formulation of N,N-dimethyltryptamine (DMT) for treatment-resistant depression, represents another core program. The company has dosed its first patient in the VLS-01 trial and anticipates topline data from its Phase 2 clinical development in the first quarter of 2026.
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Development and Potential Launch of EMP-01: EMP-01, an oral formulation of R-MDMA for the treatment of social anxiety disorder, is also undergoing Phase 2 clinical development. Topline data for this program is expected around the same time as VLS-01, in the first quarter of 2026. The focus on social anxiety disorder, an area with high unmet medical need, positions EMP-01 as a potential revenue contributor upon successful development and approval.
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Strategic Merger and Expanded Pipeline through Beckley Psytech: The strategic merger with Beckley Psytech is expected to create a global leader in short in-clinic psychedelic-based mental health therapies. This merger not only integrates Beckley Psytech's assets, such as BPL-003, more fully into Atai’s pipeline but also aims to leverage combined resources to accelerate the development and potential commercialization of a broader portfolio of innovative treatments, thereby expanding future revenue streams.
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Share Issuance
- Atai Life Sciences completed a public offering on October 20, 2025, raising approximately $149.5 million in gross proceeds from the sale of 27,283,750 common shares.
- On October 16, 2025, Atai Life Sciences announced the pricing of an underwritten offering of 23,725,000 common shares, which was expected to generate approximately $130 million in gross proceeds.
- In July 2025, Atai Life Sciences secured approximately $50 million in gross proceeds through a private placement financing involving ordinary shares and pre-funded warrants.
Inbound Investments
- The October 20, 2025 public offering saw participation from new institutional investors including Janus Henderson Investors, Foresite Capital, Deep Track Capital, and HBM Partners, alongside existing investors such as Ferring Ventures, Columbia Threadneedle Investments, Ally Bridge Group, Woodline Partners LP, and ADAR1 Capital Management.
- The July 1, 2025 private placement was co-led by Ferring Ventures S.A. and Apeiron Investment Group, with additional contributions from new and existing healthcare-focused institutional investors, including Ally Bridge Group and ADAR1.
Outbound Investments
- In November 2025, Atai Life Sciences completed a strategic combination with Beckley Psytech Limited.
- The company reported a non-cash acquisition of in-process research and development (IPR&D) for $530.0 million in fiscal year 2025, likely related to the Beckley Psytech acquisition.
Capital Expenditures
- Atai Life Sciences' annual capital expenditures were $0.06 million in 2025, $1.13 million in 2024, and $1.02 million in 2023.
- Proceeds from share issuances are primarily intended to advance the clinical development of its product candidates and programs.
- The company expects its financial resources to fund operations, including capital expenditures for its pipeline, into early 2029.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Is Atai Beckley Stock Built to Withstand More Downside? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 4.60 |
| Mkt Cap | 2.6 |
| Rev LTM | 3 |
| Op Inc LTM | -45 |
| FCF LTM | -34 |
| FCF 3Y Avg | -33 |
| CFO LTM | -34 |
| CFO 3Y Avg | -33 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 28.6% |
| Rev Chg 3Y Avg | 29.6% |
| Rev Chg Q | 9.7% |
| QoQ Delta Rev Chg LTM | 2.2% |
| Op Inc Chg LTM | -8.4% |
| Op Inc Chg 3Y Avg | 5.7% |
| Op Mgn LTM | 7.4% |
| Op Mgn 3Y Avg | 5.2% |
| QoQ Delta Op Mgn LTM | -2.4% |
| CFO/Rev LTM | 11.3% |
| CFO/Rev 3Y Avg | 11.4% |
| FCF/Rev LTM | 10.7% |
| FCF/Rev 3Y Avg | 7.8% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 2.6 |
| P/S | 5.0 |
| P/Op Inc | 7.1 |
| P/EBIT | 8.6 |
| P/E | 3.7 |
| P/CFO | 5.5 |
| Total Yield | -6.1% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -1.9% |
| D/E | 0.0 |
| Net D/E | -0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -6.7% |
| 3M Rtn | -12.4% |
| 6M Rtn | -6.9% |
| 12M Rtn | -2.4% |
| 3Y Rtn | -14.0% |
| 1M Excs Rtn | -12.4% |
| 3M Excs Rtn | -18.9% |
| 6M Excs Rtn | -22.9% |
| 12M Excs Rtn | -27.0% |
| 3Y Excs Rtn | -83.7% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Global discovery, research, development, and commercialization of highly effective mental health | 0 | 0 | |||
| Total | 0 | 0 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Global discovery, research, development, and commercialization of highly effective mental health | -150 | ||||
| Total | -150 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Global discovery, research, development, and commercialization of highly effective mental health | 293 | 112 | 112 | ||
| Total | 293 | 112 | 112 |
Price Behavior
| Market Price | $4.33 | |
| Market Cap ($ Bil) | 1.4 | |
| First Trading Date | 06/18/2021 | |
| Distance from 52W High | -32.9% | |
| 50 Days | 200 Days | |
| DMA Price | $3.96 | $4.30 |
| DMA Trend | up | up |
| Distance from DMA | 9.4% | 0.8% |
| 3M | 1YR | |
| Volatility | 78.6% | 81.4% |
| Downside Capture | 137.57 | 56.25 |
| Upside Capture | 141.27 | 136.42 |
| Correlation (SPY) | 27.0% | 22.7% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.19 | 1.25 | 2.20 | 1.58 | 1.51 | 1.44 |
| Up Beta | 0.87 | 0.59 | 0.91 | 1.32 | 1.21 | 1.26 |
| Down Beta | 12.53 | 4.60 | 3.83 | 1.88 | 3.02 | 1.96 |
| Up Capture | 41% | 121% | 291% | 113% | 233% | 248% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 11 | 18 | 28 | 51 | 117 | 334 |
| Down Capture | -1565% | 29% | 197% | 171% | 60% | 106% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 11 | 22 | 33 | 68 | 124 | 375 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ATAI | |
|---|---|---|---|---|
| ATAI | 111.8% | 81.7% | 1.27 | - |
| Sector ETF (XLV) | 12.0% | 14.7% | 0.55 | 8.2% |
| Equity (SPY) | 26.8% | 12.1% | 1.67 | 22.6% |
| Gold (GLD) | 37.5% | 26.8% | 1.16 | 9.8% |
| Commodities (DBC) | 43.5% | 18.6% | 1.80 | 4.3% |
| Real Estate (VNQ) | 12.0% | 13.4% | 0.59 | 12.4% |
| Bitcoin (BTCUSD) | -27.2% | 41.8% | -0.65 | 7.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ATAI | |
|---|---|---|---|---|
| ATAI | -26.0% | 83.9% | 0.01 | - |
| Sector ETF (XLV) | 5.4% | 14.6% | 0.19 | 21.7% |
| Equity (SPY) | 13.8% | 17.0% | 0.64 | 28.9% |
| Gold (GLD) | 19.3% | 18.0% | 0.87 | 7.0% |
| Commodities (DBC) | 10.8% | 19.4% | 0.44 | 5.0% |
| Real Estate (VNQ) | 3.8% | 18.8% | 0.10 | 25.4% |
| Bitcoin (BTCUSD) | 9.3% | 55.6% | 0.37 | 19.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ATAI | |
|---|---|---|---|---|
| ATAI | -14.0% | 83.9% | 0.01 | - |
| Sector ETF (XLV) | 9.8% | 16.5% | 0.48 | 21.7% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 28.9% |
| Gold (GLD) | 13.2% | 16.0% | 0.68 | 7.0% |
| Commodities (DBC) | 7.8% | 17.9% | 0.35 | 5.0% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.22 | 25.4% |
| Bitcoin (BTCUSD) | 67.3% | 66.9% | 1.06 | 19.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/6/2026 | -4.2% | 7.9% | 8.8% |
| SUMMARY STATS | |||
| # Positive | 0 | 1 | 1 |
| # Negative | 1 | 0 | 0 |
| Median Positive | 7.9% | 8.8% | |
| Median Negative | -4.2% | ||
| Max Positive | 7.9% | 8.8% | |
| Max Negative | -4.2% | ||
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/12/2026 | 10-Q |
| 12/31/2025 | 03/06/2026 | 10-K |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/14/2025 | 10-Q |
| 12/31/2024 | 03/17/2025 | 10-K |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 03/28/2024 | 10-K |
| 09/30/2023 | 11/14/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/24/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/15/2022 | 10-Q |
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.