ATAI Life Sciences stock rises after closing $149.5 million public offering

Investing.com -- ATAI Life Sciences (NASDAQ:ATAI) stock gained 2% in after-hours trading Monday following the company’s announcement that it has closed its public offering of 27.28 million common shares, raising approximately $149.5 million in gross proceeds.

The clinical-stage biopharmaceutical company, which focuses on mental health disorder treatments, sold shares at $5.48 each, including the full exercise of the underwriters’ option to purchase an additional 3.56 million shares. The offering attracted both new investors such as Janus Henderson Investors and Deep Track Capital, as well as existing backers including Ferring Ventures and Columbia Threadneedle Investments.

ATAI plans to use the proceeds to advance its clinical pipeline, particularly funding the planned Phase 3 program for BPL-003 (mebufotenin benzoate) nasal spray through top-line data readout from the first Phase 3 trial. The company will also allocate funds to complete Phase 2 trials for VLS-01 (buccal film DMT) and the Phase 2a study for EMP-01 (oral R-MDMA).

Christian Angermayer, Founder and Chairman of ATAI, highlighted the significance of the financing: "We are deeply grateful for the strong and continued validation of our mission that this successful financing represents. The commitment from both our distinguished existing and new, predominantly healthcare-focused institutional investors reflects their confidence in atai’s pipeline and long-term vision."

The company estimates that with this new funding, its cash reserves will be sufficient to fund operations into 2029. Jefferies LLC served as the lead bookrunner for the offering, with Berenberg Capital Markets LLC acting as passive bookrunner.

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