ATAI Life Sciences (ATAI) AI Stock Analysis

• Market Cap: $1.48B
• Dividend Yield: N/A
• Average Volume (3M): 3.35M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.25
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 54
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Pharmaceuticals
• EPS (TTM): -0.28
• Shares Outstanding: 363,214,600
• 10 Day Avg. Volume: 3,322,773
• 30 Day Avg. Volume: 3,348,433
• PEG Ratio: >-0.01
• Price to Book (P/B): 1.83
• Price to Sales (P/S): 691.60
• P/FCF Ratio: -2.58
• Enterprise Value/Market Cap: 0.70
• Enterprise Value/Revenue: 344.47
• Enterprise Value/Gross Profit: -132.94
• Enterprise Value/Ebitda: -7.17
• 1Y Price Target: $13.13
• Price Target Upside: 222.60% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 9
• EPS Forecast (FY): -0.64
• Revenue Forecast (FY): $3.00M

• Rating: 47 Neutral
• Price Target: $4.50 ▲(10.57% Upside)

ATAI Life Sciences' overall stock score is primarily impacted by its challenging financial performance, with ongoing losses and reliance on external funding. However, recent strategic corporate events, such as the acquisition of Beckley Psytech and FDA designations, provide a positive outlook for future growth potential. Technical indicators suggest short-term volatility, and valuation remains a concern due to the lack of profitability.

Positive Factors

Strategic Acquisition

The acquisition of Beckley Psytech positions ATAI as a leader in mental health therapies, enhancing its pipeline and market position with Phase 3-ready assets.

FDA Breakthrough Designation

The FDA Breakthrough Therapy designation for BPL-003 accelerates its development, potentially transforming treatment for depression and boosting ATAI's market impact.

Strong Financial Backing

The successful public offering raises significant capital, supporting clinical trials and operations through 2029, indicating strong investor confidence in ATAI's mission.

Negative Factors

Ongoing Financial Losses

Persistent financial losses and lack of revenue growth threaten ATAI's sustainability, requiring continuous external funding to maintain operations.

Negative Cash Flows

Consistent negative cash flows highlight inefficiencies in cash management, making ATAI reliant on external financing for operational sustainability.

Profitability Challenges

Ongoing profitability issues, with negative EBIT and net income, indicate significant cost pressures and challenges in revenue generation for ATAI.

ATAI Life Sciences Business Overview & Revenue Model

Company Description

Atai Beckley NV is a clinical-stage biopharmaceutical company. It engages in the treatment of mental health disorders. The company was founded by Christian Angermayer, Florian Brand, Srinivas Rao and Lars Christian Wilde in June 2018 and is headquartered in Amstelveen, Netherlands.

How the Company Makes Money

ATAI Life Sciences generates revenue primarily through the development and commercialization of its therapeutic products. The company partners with pharmaceutical firms, research institutions, and other stakeholders to co-develop its drug candidates, which can lead to milestone payments and royalties upon successful commercialization. Additionally, ATAI may receive funding from grants or investments aimed at supporting its research initiatives. Strategic partnerships with larger pharmaceutical companies can also provide substantial financial backing, facilitating further research and development while sharing potential profits from successful product launches.

ATAI Life Sciences Financial Statement Overview

Summary

ATAI Life Sciences faces significant financial challenges, marked by ongoing losses and a lack of revenue growth. Despite maintaining a low leverage position, its persistent negative cash flows and earnings pose substantial risks. The financial sustainability relies on continued access to external funding to support operations.

Income Statement

ATAI Life Sciences has consistently faced challenges with profitability, as indicated by negative EBIT and net income figures across all reported years. The absence of revenue growth further underscores the company's struggle to generate revenue. The gross profit remained negative or negligible, pointing towards significant cost pressures and lack of revenue generation capabilities.

Balance Sheet

The company's balance sheet shows a high level of equity in comparison to its total assets, with an improving trend in stockholders' equity, despite negative earnings. The debt-to-equity ratio is relatively low, suggesting conservative leverage use. However, the continued accumulation of losses poses a risk to financial stability over time.

Cash Flow

ATAI Life Sciences has struggled to generate positive cash flows, with negative operating and free cash flows reported consistently. The cash flow to net income ratios indicate inefficiencies in cash management. The company's ability to sustain operations heavily depends on external financing, evident from periodic positive financing cash flows.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.02M	308.00K	314.00K	233.00K	20.38M	0.00
Gross Profit	-7.82M	308.00K	314.00K	233.00K	20.38M	0.00
EBITDA	-144.96M	-144.81M	-36.31M	-134.09M	-120.28M	-92.12M
Net Income	-154.19M	-149.27M	-40.22M	-152.38M	-167.81M	-169.84M
Balance Sheet
Total Assets	239.82M	159.39M	293.48M	305.44M	414.17M	111.55M
Cash, Cash Equivalents and Short-Term Investments	114.61M	62.33M	179.26M	273.11M	362.27M	97.25M
Total Debt	2.96M	24.71M	19.14M	15.34M	743.00K	2.18M
Total Liabilities	79.91M	42.83M	49.16M	39.67M	28.21M	16.18M
Stockholders Equity	159.75M	116.30M	242.96M	260.74M	376.91M	90.82M
Cash Flow
Free Cash Flow	-90.34M	-82.53M	-84.71M	-105.49M	-64.37M	-20.82M
Operating Cash Flow	-79.49M	-82.44M	-84.12M	-104.47M	-63.25M	-20.77M
Investing Cash Flow	-62.22M	59.17M	-53.30M	-86.85M	-81.28M	-28.27M
Financing Cash Flow	127.26M	5.37M	-8.36M	20.79M	409.86M	113.05M

ATAI Life Sciences Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 4.07
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ATAI, the sentiment is Negative. The current price of 4.07 is below the 20-day moving average (MA) of 4.17, below the 50-day MA of 4.60, and above the 200-day MA of 3.40, indicating a neutral trend. The MACD of -0.07 indicates Negative momentum. The RSI at 45.04 is Neutral, neither overbought nor oversold. The STOCH value of 37.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ATAI.

ATAI Life Sciences Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CVAC	70 Outperform	$968.28M	5.98	17.68%	―	-86.40%	30.72%
WVE	67 Neutral	$3.25B	-23.78	-86.51%	―	103.75%	33.84%
PRAX	58 Neutral	$6.73B	-20.84	-75.20%	―	364.98%	-25.33%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ATAI	47 Neutral	$1.48B	-5.06	―	―	―	―
NKTR	47 Neutral	$905.00M	-5.61	-180.24%	―	-32.79%	36.87%
ORIC	43 Neutral	$803.46M	―	-39.73%	―	―	4.29%

ATAI Life Sciences Corporate Events

ATAI Life Sciences Files Prospectus for Share Registration

On December 5, 2025, Atai Beckley N.V. filed a prospectus supplement with the SEC regarding its common shares, which are being registered to fulfill certain contractual rights related to the acquisition of Beckley Psytech Limited. This filing is part of the company’s registration statement process and includes a legal opinion on the validity of the shares.

ATAI Life Sciences Files Prospectus for Share Resale

On November 5, 2025, Atai Beckley N.V. filed a prospectus supplement with the SEC related to the resale of 5,316,238 common shares. This action is part of fulfilling registration rights granted during the acquisition of Beckley Psytech Limited, impacting the company’s share distribution and potentially its market standing.

ATAI Life Sciences Completes Acquisition of Beckley Psytech

On November 5, 2025, Atai Beckley N.V. completed its acquisition of Beckley Psytech Limited, resulting in a strategic combination to form AtaiBeckley, a global leader in transformative mental health therapies. The acquisition, approved by 98% of shareholders, brings together a robust pipeline of investigational treatments, including a Phase 3-ready asset, BPL-003, and positions the company to potentially transform the treatment landscape for serious mental health conditions. The company is well-financed to fund operations through 2029 and has a strong leadership team in place to execute its mission.

ATAI Life Sciences Approves Beckley Psytech Acquisition

On November 4, 2025, ATAI Life Sciences held an extraordinary general meeting to discuss the acquisition of Beckley Psytech Limited and the company’s redomiciliation to Delaware. Shareholders approved several proposals, including the acquisition, issuance of shares, and appointment of new directors, indicating strong support for the company’s strategic moves. The completion of the redomiciliation is still subject to certain conditions.

ATAI Life Sciences Closes $149.5 Million Public Offering

On October 20, 2025, atai Life Sciences announced the successful closing of its public offering of 27,283,750 common shares, raising approximately $149.5 million. The proceeds, along with existing cash resources, will fund the advancement of clinical trials for its product candidates, including the Phase 3 program for BPL-003 and Phase 2 trials for VLS-01 and EMP-01. This financing is expected to support operations into 2029, reflecting strong investor confidence in atai’s mission to transform mental health treatment.

ATAI Life Sciences’ BPL-003 Receives FDA Breakthrough Designation

On October 16, 2025, atai Life Sciences and Beckley Psytech announced that the U.S. FDA granted Breakthrough Therapy designation to BPL-003, an intranasal formulation for treatment-resistant depression. This designation, following positive Phase 2b trial results, highlights BPL-003’s potential to significantly improve depressive symptoms rapidly and durably, fitting into existing treatment paradigms. The designation is expected to expedite the development and regulatory review process, positioning BPL-003 for Phase 3 trials in 2026, and underscores the potential impact on patients and the mental health treatment landscape.

ATAI Life Sciences to Acquire Beckley Psytech

ATAI Life Sciences N.V. has announced a share purchase agreement dated June 2, 2025, to acquire the remaining issued share capital of Beckley Psytech Limited, a company based in England and Wales. The transaction is expected to close in the fourth quarter of 2025, pending shareholder approval and other conditions. This acquisition could potentially enhance ATAI’s position in the mental health treatment industry, although there are risks related to the completion and benefits realization of the transaction.

ATAI Life Sciences to Acquire Beckley Psytech Shares

ATAI Life Sciences announced a share purchase agreement dated June 2, 2025, to acquire the remaining shares of Beckley Psytech Limited, a company based in England and Wales. The transaction is expected to close in the fourth quarter of 2025, pending shareholder approval and other customary conditions, potentially impacting ATAI’s market position and operational capabilities.

ATAI Life Sciences Announces Positive Phase 2a Study Results

On September 23, 2025, ATAI Life Sciences and Beckley Psytech announced positive results from a Phase 2a study of BPL-003, an intranasal formulation for treatment-resistant depression. The study demonstrated that a two-dose regimen of BPL-003 led to significant reductions in depression scores and improved remission rates, with sustained effects and a strong safety profile. These findings support further development and regulatory discussions for Phase 3 trials, potentially enhancing ATAI’s position in the mental health treatment industry.