ATAI - Compass pathways joins Atai's post earnings rally

German clinical-stage biopharmaceutical company Atai Life Sciences (NASDAQ:ATAI) is trading higher on Monday in reaction to the company’s 1Q 2022 results. The U.K.-based biotech COMPASS Pathways (CMPS), in which it holds an ownership stake, is also rising in solidarity. Atai’s (ATAI) earnings report included updates on the key clinical programs for PCN-101 and COMP360, two investigational candidates targeted at treatment resistant depression (TRD). Outlining the anticipated catalysts, the company highlighted the upcoming data from a Phase 2 proof-of-concept study for PCN-101 as a potential at-home therapy in TRD. In addition, a bioavailability study, which is designed to compare a subcutaneous formulation of PCN-101 to the existing IV formulation, are expected later this year. Jefferies analyst Andrew Tsai argues that the experimental TRD therapy has a 30% – 40% chance of generating robust efficacy data in at-home use with a clean safety profile. Atai (ATAI) shares will rise as much as 50%, subject

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Compass pathways joins Atai's post earnings rally