Despite recent setbacks, this analyst still believes in Atai Life Sciences' pipeline

HC Wainwright The price target was lowered Atai Life Sciences N.V. (NASDAQ: ATAI) from $50 to $20 These are recent adverse results from programs such as PCN-101, which treats treatment-resistant depressive disorder, and KUR-101, which treats opioid use disorder.
Recently, Atai Life Sciences was acquired Perception Neuroscience An announcement was made that Phase 2a in the trial of PCN101 (R-ketamine), did not achieve its primary endpoint. This included a statistically significant improvement from baseline in the participants’ depression rating scale score at 24-hours. compared to the placebo.
Data comparing KUR101 with oxycodone was not conclusive, according to the company in December. Further research will be required to identify the characteristics of the KUR-101 respiratory effects, according to the company. therapeutic potential of KUR-101 further.
However, the analyst retains the Buy rating because of confidence in several programmes, including VLS-01, RL007 and GRX-917. All are currently in Phase 1 or 2, with multiple data updates expected over the next 12 month.
HC Wainwright points out that Atai has a cash balance of $313 millions, which is enough to finance these programs via value-generating Phase 2 data readouts.
Price Action ATAI shares have fallen 2.74% to $1.95 since the last check on Thursday.
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Date	Firm	Take Action	To
Nov 2021	Maxim Group	Initiates Coverage	Buy
Nov 2021	HC Wainwright & Co.	Keep it up	Buy
Nov 2021	Credit Suisse	Keep it up	Outperform

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