CMPS - Atai Life Sciences N.V.: A First Take
- Shares of mental health biopharma Atai Life Sciences N.V. have fallen some two-thirds from their June 2021 IPO pricing as the biotech market continues to crater.
- The company’s approach of identifying (in many instances psychedelic) compounds that have been tested in previous human trials marginally de-risks its programs.
- With the market placing a valuation of ~$210 million on ten of its 11 programs – many with blockbuster potential – the recent insider buying merited further investigation.
- A full investment analysis follows in the paragraphs below.
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Atai Life Sciences N.V.: A First Take