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Phase 2a data for BPL-003 ‘encouraging' for Atai Life Sciences, says Jefferies

Jefferies analyst Andrew Tsai notes that Beckley Psytech shared positive Phase 2a data on BPL-003 in combination with SSRI antidepressants for treatment-resistant depression that the firm calls 'encouraging.' The drug's profile seems to be consistent across multiple studies, incrementally de-risking the key Phase 2b TRD study in mid-2025, the analyst tells investors. Although the BPL-003 program is controlled by Beckley Psytech, Atai Life Sciences (ATAI) currently holds about a 34% stake in Beckley that can be increased to 45%-plus for about $60M, adds the analyst, who has a Buy rating and $5 price target on Atai shares. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on ATAI: Disclaimer & DisclosureReport an Issue Home Depot backs outlook as U.S. sales ticked up: Morning Buzz Atai Life Sciences announces data from Part 2 of Phase 2a study of BPL-003 ATAI Life Sciences: Positioned for Leadership in Scalable Psychedelic Psychiatry with Strong Financial Foundation and Promising Clinical Milestones ATAI Life Sciences: Strong Buy Rating Backed by Promising Trials and Robust Financial Health ATAI Life Sciences: Buy Rating Backed by Promising Pipeline and Strong Cash Position Amid Upcoming Catalysts