Eli Lilly nears deal to buy psychedelic drugmaker AtaiBeckley, Bloomberg News reports
LLY•Lilly in talks to acquire AtaiBeckley
July 15 (Reuters) - Eli Lilly LLY.N is in talks to acquire psychedelic drugmaker AtaiBeckley ATAI.O and a deal could be announced as soon as this week, Bloomberg News reported on Wednesday, citing people familiar with the matter.
AtaiBeckley shares soared 66% in aftermarket trading, while Lilly was flat. AtaiBeckley was up 31% so far this year and had a market value of $1.97 billion as of Wednesday's close, according to LSEG data.
Lilly is negotiating a deal at a premium, Bloomberg News said.
Eli Lilly and AtaiBeckley were not immediately available for comment outside regular business hours.
AtaiBeckley’s psychedelic treatment focus
New York-based AtaiBeckley focuses on psychedelic-based treatments for mental health conditions and is developing BPL-003, an intranasal formulation of 5-MeO-DMT for treatment-resistant depression.
The company's shares received a boost this year after U.S. President Donald Trump ordered health regulators to speed up reviews of psychedelic treatments and increased federal funding for their research.
