- HC Wainwright lowered the price target for Atai Life Sciences N.V. (NASDAQ:ATAI) from $50 to $20 to reflect recent adverse outcomes in programs such as PCN-101 in treatment-resistant depression and KUR-101 in opioid use disorder.
- Most recently, Atai Life Sciences-owned Perception Neuroscience announced that the Phase 2a trial of PCN-101 (R-ketamine) did not meet its primary endpoint of a statistically significant change from baseline in participants’ depression rating scale score at 24 hours compared to the placebo.
- In December, data comparing the respiratory effects of KUR-101 to oxycodone and placebo were inconclusive. The company said additional research would be needed to characterize the therapeutic potential of KUR-101 further.
- But the analyst maintains the Buy rating due to confidence in several programs, including VLS-01, RL-007, and GRX-917, all of which are in Phase 1 or 2 development with multiple data updates expected in the next 12 months.
- HC Wainwright notes that Atai’s cash balance of $313 million is sufficient to fund these programs through value-generating Phase 2 data readouts.
- Price Action: ATAI shares are down 2.74% at $1.95 on the last check Thursday.
- Photo Via Company
WWE, RPM International And 3 Stocks To Watch Heading Into Monday
With US stock futures trading slightly lower this morning on Monday ahead of earnings reports from several big companies, some of the stocks that may grab investor focus today are as follows:
