atai Life Sciences: 60% of Patients Report “Complete Mystical Experience” in Psychedelics Trial

atai Life Sciences’ (Nasdaq: ATAI) share price reached $2.20 in intraday trading on Wednesday, and rose a further 0.75% in morning trading on Thursday after the company announced the publication of the results of Beckley Psytech’s Phase 1 study of BPL-003 in peer-reviewed The Journal of Psychopharmacology. atai owns a 35.5% ownership stake in Beckley Psytech.

BPL-003 is currently under investigation in Phase 2a studies as a potential treatment for Alcohol Use Disorder and Treatment Resistant Depression (TRD). Initial results from a multi-site Phase 2b study for BPL-003 TRD are expected in H2 2024.

Beckley Psytech’s study found that 60% of participants had a ‘complete mystical experience,’ 87% of participants who received BPL-003 said they would accept the same or higher dose again, and 100% of participants who received the highest dose stated they would accept the same or higher dose again.

Commenting on the publication, Florian Brand, CEO and Co-Founder of atai, said, “We are pleased by the publication of the BPL-003 Phase 1 data in the Journal of Psychopharmacology, a well-regarded, peer-reviewed journal. Consistent with the initial Phase 2a data reported recently, the Phase 1 results showed that BPL-003 was safe and well-tolerated and underscore its potential as a scalable interventional treatment requiring two hours or less in the clinic, in line with the treatment paradigm successfully established by Spravato®.”

BPL-003 is Beckley Psytech’s novel patent-protected benzoate salt formulation of 5-MeO-DMT that is administered intranasally. The compound was shown to be safe and well-tolerated with a predictable pharmacokinetic profile and a reliable induction of subjective psychedelic effects with single doses of up to 12 mg in healthy participants. Subjective psychedelic effects correlated with 5-MeO-DMT exposure and had a rapid onset and short duration, with acute effects resolving in less than two hours.

About atai Life Sciences

atai is a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders and was founded as a response to the significant unmet need and lack of innovation in the mental health treatment landscape. atai is dedicated to efficiently developing innovative therapeutics to treat depression, anxiety, addiction, and other mental health disorders. By pooling resources and best practices, atai aims to responsibly accelerate the development of new medicines to achieve clinically meaningful and sustained behavioral change in mental health patients. atai’s vision is to heal mental health disorders so that everyone, everywhere can live a more fulfilled life. For more information, please visit www.atai.life.