Atai Life Sciences NV (ATAI:NASDAQ) anticipates, by year-end 2022, several catalysts involving its various drug development programs for mental health disorders, management reiterated at its recent R&D Day, reported ROTH Capital Partners analyst, Dr. Elemer Piros, in an October 25, 2022 research note.
Given atai's robust pipeline of treatment candidates and expected milestones, ROTH considers the biopharma a Buy and assigns it a $32 per share price target. Given atai is trading now at about $2.89 per share, this difference implies a significant potential return on investment.
"Atai expects eight compounds in drug development in addition to the advancement of its digital therapeutics platform," Piros wrote.
Given atai's robust pipeline of treatment candidates and expected milestones, ROTH considers the biopharma a Buy and assigns it a $32 per share price target. Given atai is trading now at about $2.89 per share, this difference implies a significant potential return on investment.
Events to Watch For
Piros listed each of atai's compounds and the anticipated positive stock-moving event for each. He noted the timelines the biopharma provided are the same as the ones it previously announced.
The catalysts expected in the remaining months of 2022 for this Germany-based company are:
1) PCN-101, R ketamine, treatment-resistant depression: efficacy results from the Phase 2a trial of the intravenous formulation
2) RL-007, compound, schizophrenia-associated cognitive impairment: initiation of a Phase 2b randomized, placebo-controlled trial
3) KUR-101, deuterated mitragynine, opioid use disorder: initial results from the two-part Phase 1 trial in healthy male volunteers
Milestones anticipated in the near future but without a specific date are:
4) COMP-360, psilocybin, treatment-resistant depression: launch of the Phase 3 trial, design for which atai just announced
5) GRX-917, deuterated etifoxine, generalized anxiety disorder: start of a proof-of-concept Phase 2a trial
Catalysts forecasted for next year are:
6) DMX-1002, ibogaine, opioid user disorder: safety data in H1/23
7) VLS-01, DMT, treatment-resistant depression: safety and pharmacokinetics data in H1/23
8) EMP-01, MDMA derivative, post-traumatic stress disorder: initial data in H2/23 from a Phase 1 trial in 32 healthy volunteers
With all these advancing programs and catalysts on the horizon, Atai has a busy 12 months ahead.
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Disclosures For ROTH Capital Partners, atai Life Sciences N.V. , October 25, 2022
Regulation Analyst Certification ("Reg AC"): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
Disclosures: ROTH makes a market in shares of atai Life Sciences N.V. and as such, buys and sells from customers on a principal basis. Shares of atai Life Sciences N.V. may be subject to the Securities and Exchange Commission's Penny Stock Rules, which may set forth sales practice requirements for certain low-priced securities.
ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months. The material, information and facts discussed in this report other than the information regarding ROTH Capital Partners, LLC and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This report should not be used as a complete analysis of the company, industry or security discussed in the report. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or estimates in this report are subject to change without notice.
An investment in the stock may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additionally, an investment in the stock may involve a high degree of risk and may not be suitable for all investors. No part of this report may be reproduced in any form without the express written permission of ROTH.
