AtaiBeckley Inc.
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
Whoever holds today holds a claim on $6.75 in cash — provided a majority of all outstanding shares approves and the antitrust agencies clear it; only about 15 percent of the votes are locked up. Whoever buys new above $6.75 is buying the contingent half alone: a non-transferable right worth up to $2.50 on deadlines of four to seven years, of which the market was pricing roughly $0.43 per share as of July 27, 2026. Whoever waits gives up nothing but the spread and gets the two documents that actually decide this: the proxy statement with the full contingent value rights agreement, and the result of the special meeting. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
Since July 15, 2026 AtaiBeckley has stopped being a science case and become an arithmetic case. Eli Lilly is paying $6.75 a share in cash and adding a non-transferable contingent value right worth up to $2.50 — $1.50 of it dependent on an agency the company will not vouch for in its own annual report. Underneath sits a business with no approved product: $4.1 million of 2025 revenue from licensing and lab services, a $1.4 billion accumulated deficit, a share count that more than doubled in twelve months — and a reported $660.0 million loss of which $530.0 million never left the bank account. Not investment advice.
The offer
A merger agreement signed July 15, 2026 with Eli Lilly and Company: $6.75 per share in cash, no financing condition, unanimously recommended by the board, a premium of roughly 40 percent to the 30-day volume-weighted average price through July 15, 2026. Closing is expected in the third quarter of 2026 (current report 8-K filed July 16, 2026).
Contingent value right
Up to $2.50 more per share — but in three steps with deadlines of four, five and seven years, $1.50 of it dependent on rescheduling by the Drug Enforcement Administration, about which the 2025 annual report gives no assurance at all. The rights are not transferable, not listed on any exchange, and carry no voting or dividend rights (8-K filed July 16, 2026).
Closing risk
The deal needs the approval of a majority of all outstanding shares; per the press release of July 16, 2026 only about 15 percent are locked up by voting agreements (Apeiron Investment Group and the directors and officers; the 13D/A of July 17, 2026 reports 56,812,134 shares, or 15.4 percent). Add antitrust clearance, an outside date of six to nine months, and a $104.3 million termination fee.
Substance and revenue
No approved product and no product revenue: 2025's $4.1 million came from licensing and the Nualtis research-services subsidiary. The accumulated deficit reached $1.4 billion against stockholders' equity of $198.7 million (March 31, 2026). The offer price pays for possibilities, not earnings.
Financing and dilution
The share count rose from 168.0 million to 363.3 million during 2025 and 368.2 million by May 8, 2026; four raises brought in $269.5 million against a $102.7 million burn. The 10-K concedes "our shareholders experienced significant dilution"; a fresh at-the-market program with Jefferies was signed March 6, 2026, and 750.0 million shares are authorized.
Worth Noting
ATAI reached our research list through the Reddit hype scanner (ApeWisdom, 12 mentions in 24 hours, as of July 16, 2026). The company row in our database was created with this analysis on July 27, 2026 — until December 30, 2025 AtaiBeckley was a Dutch N.V. The first run after that returns, as of July 27, 2026: fundamental rating D (44 out of 100), Piotroski score 5 out of 9, Altman Z 11.80, price $7.18 (close of July 24, 2026); relative strength rating, Weinstein stage and EPS rating are absent for lack of price history, and the only substantive list carrying the ticker is "EPS acceleration". These lists are recomputed daily. The assessment here still rests on the SEC filings: a midfield Piotroski score and an arithmetically high Altman Z, drawn from a one-day-old data row, say little at a company with no approved product.
The SEC history of this ticker is split across two CIKs: the current filer is AtaiBeckley Inc. (CIK 0002081043), while everything before the December 30, 2025 redomiciliation sits under Atai Beckley N.V. / ATAI Life Sciences N.V. (CIK 0001840904), which deregistered via Form 15-12G on December 31, 2025.
The $6.75 offer price and the $9.25 maximum are contractually agreed amounts from the current report 8-K filed July 16, 2026, not daily quotes. Market value and analyst figures carry the data cut-off of July 27, 2026. Even signed acquisitions can fail, and with clinical-stage biotechnology the total loss of invested capital is a realistic scenario.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at ATAI since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 3.40 $ to 7.40 $ · Last price: 7.40 $ (As of: September 11, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Biotechnology
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| AtaiBeckley Inc. ATAI | 2.7 | – | 0.3 | -1,579.3 | -3,239.1 | 1,227.6 | 59.8 |
| Vertex Pharmaceuticals Inc VRTX | 130.6 | 31.3 | 24.5 | 55.0 | 38.1 | 9.6 | 33.4 |
| Regeneron Pharmaceuticals Inc REGN | 82.0 | 19.9 | 13.1 | 44.5 | 20.7 | 1.0 | 35.5 |
| Moderna Inc MRNA | 62.7 | – | 4.6 | -66.0 | -131.1 | -39.2 | 532.3 |
| argenx NV ARGX | 61.9 | 38.1 | 34.2 | 59.1 | 32.0 | 89.6 | 30.9 |
| Revolution Medicines Inc RVMD | 40.9 | – | -9.7 | -174,708.6 | 0.0 | -100.0 | 338.3 |
| BeiGene, Ltd. ONC | 40.0 | 63.1 | 34.1 | 88.9 | 19.1 | 40.2 | 6.4 |
| Alnylam Pharmaceuticals Inc ALNY | 32.6 | 61.8 | 28.4 | 79.7 | 23.0 | 65.2 | -48.1 |
| Royalty Pharma Plc RPRX | 32.5 | 31.8 | 19.6 | 95.8 | 100.3 | 5.1 | 68.6 |
| Median of companies shown | 40.9 | 34.9 | 19.6 | 55.0 | 20.7 | 9.6 | 35.5 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2019 | 0 | -18 | -14 | -0.09 | -8 | 59 | 62 |
| 2020 | 20 | -104 | -170 | -1.11 | -21 | 91 | 112 |
| 2021 | 20 | -120 | -168 | -1.04 | -63 | 377 | 414 |
| 2022 | 0 | -144 | -152 | -0.98 | -104 | 261 | 305 |
| 2023 | 0 | -125 | -40 | -0.25 | -84 | 243 | 293 |
| 2024 | 0 | -103 | -149 | -0.93 | -82 | 116 | 159 |
| 2025 | 4 | -100 | -660 | -2.91 | -103 | 222 | 311 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q2 | -0.36 | -71.40 | 0 | 58.70 | -20,993.40 | -16 | -16 |
| 2024: Q3 | -0.16 | 42.90 | 0 | -54.00 | -65,715.00 | -19 | -19 |
| 2024: Q4 | -0.24 | -100.00 | 0 | -127.80 | – | -24 | -24 |
| 2025: Q1 | -0.15 | 11.80 | 2 | – | -1,699.70 | -18 | -18 |
| 2025: Q2 | -0.14 | 61.10 | 1 | 163.40 | -3,856.60 | -14 | -19 |
| 2025: Q3 | -0.28 | -75.00 | 1 | 1,772.50 | -8,154.10 | -23 | -29 |
| 2025: Q4 | -1.73 | -620.80 | 1 | 21,420.00 | -51,108.20 | -48 | -48 |
| 2026: Q1 | -0.08 | 44.50 | 1 | -38.60 | -3,121.80 | -21 | -21 |
| 2026: Q2 | -0.09 | 35.70 | 2 | 142.90 | -1,911.80 | -35 | -35 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 4 of our scanner strategies — each hit links to the scanner.
Growth
Research
Risk & Weakness
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | -0.42 | -0.52 – -0.37 | 3 | 85.4% | 5 |
| 12/31/2027 | -0.48 | -0.75 – -0.38 | 1 | -13.1% | 7 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Free cash flow over the past twelve months is negative, which rules out a serious reverse calculation. Any growth rate only makes a negative cash flow more negative; no present value comes out of it. What the price reflects here is therefore not a stream of cash flows, but the expectation that there will be one at all.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
AtaiBeckley verkauft keine KI, sondern Arzneimittel-Kandidaten — der Geschäftsbericht 2025 (10-K) räumt aber ausdrücklich ein, dass das Unternehmen KI, maschinelles Lernen und automatisierte Entscheidungsverfahren im eigenen Betrieb einsetzt und die Rechtslage dazu als unsicher beschreibt.
View the full file — quotes, sources, reviewed filings
„In addition, we use AI, ML, and automated decision-making technologies (collectively, „AI Technologies“) in our business. The regulatory framework for AI Technologies is rapidly evolving as many federal, state, and foreign government bodies and agencies have introduced or are currently considering additional laws and regulations."
Darüber hinaus setzen wir in unserem Geschäft KI, maschinelles Lernen und automatisierte Entscheidungstechnologien (zusammen „KI-Technologien“) ein. Der Rechtsrahmen für KI-Technologien entwickelt sich rasch, da viele Bundes-, Landes- und ausländische Behörden zusätzliche Gesetze und Vorschriften eingeführt haben oder derzeit prüfen.
10-K · 2026-03-06 · View SEC filing
„In addition, we may experience difficulties in enforcing the intellectual property rights in output generated by generative AI Technologies. The United States Copyright Office has previously denied copyright protection for content generated by AI Technologies, and the United States Patent and Trademark Office has similarly stated that an AI tool cannot be an „inventor“ of a patent, rendering it impossible to obtain patent protection for inventions created solely by AI Technologies."
Außerdem könnten wir Schwierigkeiten haben, die Schutzrechte an Ergebnissen durchzusetzen, die von generativen KI-Technologien erzeugt wurden. Das US-Copyright-Amt hat Urheberrechtsschutz für von KI-Technologien erzeugte Inhalte bereits verweigert, und das US-Patent- und Markenamt hat entsprechend festgestellt, dass ein KI-Werkzeug nicht „Erfinder“ eines Patents sein kann — Patentschutz für ausschließlich von KI-Technologien geschaffene Erfindungen ist damit unmöglich.
10-K · 2026-03-06 · View SEC filing
Filings Reviewed: 10-K 2026-03-06 · 10-Q 2026-05-12 · 8-K 2026-07-16
Rated on July 27, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 159.8%
- More than 10% revenue growth is expected for the coming year -98.0%
- Share count grows by less than 3% a year 13.3%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") -1,305.4%
- Gross margin at 40% or higher and without meaningful erosion 75.3%
- Goodwill from acquisitions does not grow faster than revenue 0.1%
- Net debt below twice EBITDA 254 m net cash
- Operating cash flow covers the profits of the last three years 580 m
- Return on capital at 15% or higher, or up versus two years ago -34.8%
- Insiders hold at least 10% or are net buyers 2.3%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
1/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% –
- Exp. sales growth 3Y > 5% -61.7%
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% -61.7%
- Net debt < 4x EBIT –
- EBIT positive, 10Y straight 0
- Max. EBIT decline < 50% –
- Return on equity > 15% -314.4%
- ROCE > 15% -34.8%
- Expected return > 10% -63.1%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Sep 11, 2026 | Craig Kevin James | Chief Medical Officer | Other | 8,437 | – | – |
| Sep 11, 2026 | Rao Srinivas | See remarks | Other | 3,500 | – | – |
| Sep 11, 2026 | Rao Srinivas | See remarks | Other | 212,942 | – | – |
| Sep 11, 2026 | Johnson Anne Nagengast | Chief Accounting Officer | Other | 140,045 | – | – |
| Sep 11, 2026 | Barrett Christopher Ryan Cave | See remarks | Other | 155,066 | – | – |
| Sep 11, 2026 | Short Glenn Frank | Chief Scientific Officer | Other | 42,333 | – | – |
| Sep 11, 2026 | Kalali Amir H | Director | Other | 4,666 | – | – |
| Sep 11, 2026 | Smiley Andrea Heslin | Director | Other | 4,666 | – | – |
| Sep 11, 2026 | Angermayer Christian | Director | Other | 1,799,302 | – | – |
| Sep 11, 2026 | Angermayer Christian | Director | Other | 53,398,214 | – | – |
The company
About the Company
AtaiBeckley Inc., a clinical-stage biopharmaceutical company, engages in the research, development, and commercialization of mental health treatments in the United States, Germany, and Canada. The company develops BPL-003, an intranasal formulation of the benzoate salt form of mebufotenin that is in Phase 2a and 2b clinical studies for treatment resistant depression (TRD) and alcohol use disorder; RL-007, an orally bioavailable compound, which is a pro-cognitive neuromodulator in Phase 2b trial for cognitive impairment associated with schizophrenia; and ELE-101, a serotonergic psychedelic for the treatment of major depressive disorder. It is also developing VLS-01, an oral transmucosal film formulation of N,N-Dimethyltryptamine in Phase 2 clinical study to treat TRD; EMP-01, an oral formulation of R-3,4-methylenedioxy-methamphetamine that is in Phase 2 clinical study for social anxiety disorder; and EGX-A & EGX-B, which are non-hallucinogenic 5-HT2A receptor agonists for TRD. In addition, the company offers COMP360 for psilocybin therapy; and GRX-917 for the treatment of anxiety, depression, and various neurological disorders. The company was formerly known as Atai Beckley N.V. and changed its name to AtaiBeckley Inc. in December 2025. AtaiBeckley Inc. was founded in 2018 and is based in New York, New York.
- Employees
- 99
- Headquarters
- New York, NY
- Address
- 250 West 34th Street, 10119 New York, United States
- Phone
- 332 282 0507
- Website
- ataibeckley.com
- IPO Date
- 06/18/2021
- ISIN
- US04650F1012
Management
| Name | Title | Birth Year |
|---|---|---|
| Glenn Short Ph.D. | Chief Scientific Officer | 1970 |
| Jason Awe Ph.D. | Vice President of Investor Relations | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 09/11/2026 AtaiBeckley Inc. (ATAI): Completion of Acquisition or Disposition of Assets; Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing; Material Modifications to Rights of Security Holders; Changes in Control of Registrant; Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers; Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year; Financial Sta SEC ↗
- 09/08/2026 AtaiBeckley Inc. (ATAI): Submission of Matters to a Vote of Security Holders SEC ↗
- 08/31/2026 AtaiBeckley Inc. (ATAI): Other Events SEC ↗
- 07/16/2026 AtaiBeckley Inc. (ATAI): Entry into a Material Definitive Agreement; Regulation FD Disclosure; Financial Statements and Exhibits SEC ↗
Data as of: September 11, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.