ATAI - Atai spikes 12% as dosing begins in Phase 1 trial for depression candidate
2023-04-13 15:36:07 ET
- German biotech Atai Life Sciences ( NASDAQ: ATAI ) added 12% Thursday after announcing investigators have dosed the first participant in a Phase 1 study for PCN-101, a candidate targeted at treatment-resistant depression (TRD).
- Atai ( ATAI ) company Perception Neuroscience develops PCN-101, a subcutaneous formulation of R-ketamine.
- The open-label study is designed to compare subcutaneous 60mg, 90mg, and 120mg doses of PCN-101 against 60mg of intravenous PCN-101. The enrollment target of ~16 healthy volunteers is expected to reach in mid-2023.
- Announcing mid-stage data for a single IV administration, ATAI said in January that the Phase 2a proof-of-concept study for PCN-101 did not reach statistical significance on the primary endpoint. However, there were encouraging signs of efficacy and safety for two weeks.
- Perception Neuroscience has partnered with Otsuka Pharmaceutical Co., LTD of Otsuka Holdings ( OTCPK:OTSKF ) to develop and commercialize the treatment in Japan.
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Atai spikes 12% as dosing begins in Phase 1 trial for depression candidate