AtaiBeckley Inc. (NASDAQ:ATAI) agreed to be bought by Eli Lilly for $6.75 cash plus up to $2.50 in milestone CVRs as its lead intranasal antidepressant BPL‑003—now in Phase 3 after FDA Breakthrough status—advances while the company weighs sales or partnerships and sees a cut in analyst target to $7.50.
Previous Week Recap
- Lilly To Buy Atai Beckley: Eli Lilly to buy AtaiBeckley (ATAI) for $6.75 cash plus up to $2.50 CVRs tied to BPL-003 and VLS-01 milestones; upfront value ~$2.8B, potential $1B extra; closing targeted Q3 2026.
- BPL-003 Reaches Phase 3: AtaiBeckley (ATAI) reports lead asset BPL-003, an intranasal 5‑MeO‑DMT, has entered Phase 3 after FDA Breakthrough Therapy designation; prior Phase 2b showed rapid, durable antidepressant effects.
- AtaiBeckley Weighs Deals 2026: AtaiBeckley (ATAI) is exploring sale or partner deals for lead program in 2026. Lead asset BPL-003 is in late-stage trials for treatment‑resistant depression; other programs under review.
- Jefferies Cuts ATAI Target: Jefferies lowered its price target for ATAI Life Sciences (ATAI) from $10.00 per share to $7.50 per share.
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