On July 16, 2026, agreed to buy AtaiBeckley for $2.8 billion upfront, with up to $1 billion more in .
On the deal news, 's sold 1.1 million shares of AtaiBeckley and bought nearly 400,000 shares of , a developer of psilocybin-based therapy.
What bought is Atai's lead candidate, BPL-003 — an in a for adults with . The first data readouts are not expected until early 2029.
estimates of $1 billion to $2 billion if the drug is ever commercialized. That is for , which had $65.2 billion in revenue in 2025.
The reason bought Atai now is that the regulatory landscape shifted. signed an executive order in April 2026 directing the to prioritize psychedelic drug review. Six days later, the issued a to 's lead program, compressing review to one to two months. In July 2026, the finalized its psychedelic medicine clinical trial guidance.
That guidance was with the regulatory process that derailed ' in 2024, sending the psychedelics sector into a two-year period of doubt.
's candidate, COMP360, already met its primary endpoint in both phase 3 trials for treatment-resistant depression. is targeting completion of its in the fourth quarter of 2026 and expects to be launch-ready by year-end 2026, a positive review and the rescheduling from .
has $466 million in cash, giving it a into 2028 — well past a plausible launch date.
is roughly two years ahead of AtaiBeckley's own timeline for reaching the market.
is betting on capturing the treatment-resistant depression market before competitors — the two-year lead makes the likely first-mover in a new drug class.