Canopy Growth stock tumbles after announcing $200 million share sale plan
BERLIN—Sahil Kirpekar, Chief Business Officer of ATAI Life Sciences N.V. (NASDAQ:ATAI), recently sold a portion of his holdings in the company. According to a regulatory filing, Kirpekar sold 48,563 common shares on March 21, 2025, at a price of $1.35 per share, totaling approximately $65,560. The stock has since risen to $1.57, marking a significant 16.3% gain over the past week. InvestingPro data shows the company maintains a strong cash position, with liquid assets exceeding short-term obligations.
The transaction was executed to satisfy Kirpekar’s tax liability related to the vesting of restricted stock units. Following this sale, Kirpekar holds 115,636 shares directly. Want deeper insights into insider trading patterns and 8 additional exclusive tips? Check out InvestingPro.
ATAI Life Sciences, a company based in Berlin, is involved in pharmaceutical preparations, focusing on developing treatments for mental health disorders. The company, currently valued at $310 million, has seen its stock surge 33% over the past six months despite not yet achieving profitability.
In other recent news, ATAI Life Sciences has made several significant announcements. The company recently disclosed an investment of $5 million in Bitcoin as part of its treasury reserve strategy, a move reflecting a broader trend of corporations diversifying into digital assets. ATAI also completed patient enrollment for its Phase 2b clinical trial of BPL-003, aimed at treating treatment-resistant depression, with results expected in mid-2025. Additionally, preliminary results from a Phase 2a study indicate that BPL-003 shows promise in reducing alcohol consumption in patients with alcohol use disorder.
In terms of corporate governance, ATAI announced the resignation of supervisory board member Michael Auerbach, with the board now comprising six members. The company has not announced plans to fill the vacancy. ATAI also underwent a leadership restructuring, appointing Dr. Srinivas Rao as the sole CEO, along with new roles for Dr. Kevin Craig, Dr. Glenn Short, and Dr. Gerd Kochendoerfer. These changes come as ATAI advances its clinical trials for novel therapeutics, including VLS-01 and EMP-01, with data expected in 2026.
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