Mental illnesses are tough to treat, and modern medicine can't guarantee relief for many patients. New therapies derived from psychedelic compounds, however, are offering hope, not to mention a slew of opportunities for forward-thinking investors.
Since ATAI Life Sciences' (NASDAQ: ATAI) outsize initial public offering (IPO) on June 22, it's flush with an estimated $225 million in cash. And with a market cap of $2.81 billion, it's the largest of the biotechs focusing on making psychedelic therapies thus far. Importantly, Atai's telehealth-heavy approach to psychedelics is significantly different from its competitors'. So, if you're looking to invest $1,000 in a speculative but promising stock, I think Atai is a good option. Let's explore why.
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Got $1,000? Consider This Freshly IPO'd Psychedelic Biotech