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ATAI Life Sciences B.V. (ATAI)

atallife jun17 lt

Berlin, Germany-based ATAI Life Sciences is slated to go public on the Nasdaq Global Market on June 18, under the ticker symbol "ATAI".

Founded in 2018, ATAI Life Sciences is a clinical-stage biotechnology company developing psychedelic drugs for mental health disorders.

The company has offered to sell 15.0 million ordinary shares at a price of $15 per share in the IPO. The underwriters have an option for a period of 30 days to purchase up to an additional 2.25 million shares.

The offering, which is scheduled to close on June 22, 2021, is expected to rake in gross proceeds of $225.0 million.

Some of the subsidiaries of ATAI Life Sciences are, Perception Neuroscience, GABA Therapeutics, Neuronasal, Kures, DemeRx, Revixia Life Sciences, Viridia Life Sciences, EmpathBio, and Recognify Life Sciences.

Underwriters of the IPO:

Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Cowen and Company, LLC, Berenberg Capital Markets LLC, Cantor Fitzgerald & Co, RBC Capital Markets, LLC, Canaccord Genuity LLC

Pipeline and Near-term Catalysts:

The company's pipeline includes 10 development programs and six enabling technologies.

--The lead candidate, PCN-101, is being developed by Perception Neuroscience for treatment resistant depression, or TRD. A Phase I trial for PCN-101 was successfully completed in September 2020. This compound is expected to enter into a Phase II trial in Europe in mid-2021, with topline data anticipated by the end of 2022.

-- RL-007, developed by Recognify Life Sciences, in phase II trial for the treatment of cognitive impairment associated with schizophrenia, or CIAS.

---DMX-1002, developed by DemeRx IB, for the treatment of opioid use disorder. In March of this year, company received approval from the UK Medicines and Healthcare products Regulatory Agency (MHRA) to commence subject enrollment in a Phase 1/2a clinical trial of DMX-1002.

--GRX-917, developed by GABA Therapeutics, for the treatment of generalized anxiety disorder, or GAD, is under phase I testing in Australia.

--NN-101, being developed by Neuronasal, for the treatment of acute Mild traumatic brain injury, or mTBI. A phase 1 clinical trial of NN-101 in Australia in approximately 62 healthy volunteers is expected to be initiated in mid-2021.

--KUR-101, developed by Kures, for the treatment of opioid use disorder, under preclinical testing.

--EMP-01, developed by EmpathBio, for the treatment of post-traumatic stress disorder, or PTSD, under preclinical testing.

--RLS-01, developed by Revixia Life Sciences, for treatment resistant depression, under preclinical testing.

--VLS-01, developed by Viridia, for treatment resistant depression, under preclinical testing.

--DMX-1001, developed by DemeRx, for the treatment of opioid use disorder, under preclinical testing.

ATAI Life Sciences holds 23.43% share in COMPASS Pathways plc (CMPS), which went public last September , offering its shares at a price of $17 per ADS . A phase IIb clinical trial of COMP360 as a potential treatment for treatment-resistant depression, conducted by COMPASS Pathways is underway.

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