Full Press Release Details
AtaiBeckley Reports Fourth Quarter and Full Year 2025 Financial Results and Provides Business and Clinical Update
NEW YORK, UNITED STATES - MARCH 6, 2026 -
AtaiBeckley Inc. (NASDAQ: ATAI) ("AtaiBeckley" or the "Company"), a clinical-stage biotechnology company on a mission to transform patient outcomes by developing rapid-acting, durable and convenient mental health treatments, today announced fourth
quarter and full year 2025 financial results and provided key regulatory, clinical and business updates.
"Following our strategic combination of atai
Life Sciences and Beckley Psytech, and U.S. redomiciliation, we have entered a pivotal execution phase," said Srinivas Rao, M.D., Ph.D., Chief Executive Officer and Co-Founder of
AtaiBeckley. "We received constructive feedback from the FDA on the Phase 3 development plan for BPL-003 in treatment-resistant depression, positioning us to initiate our pivotal program in
the second quarter of 2026. We also reported positive topline results from our exploratory Phase 2a study of EMP-01 in Social Anxiety
Disorder, which met its primary safety objective and demonstrated clinically meaningful improvements across key efficacy measures after just two administrations and without adjunct psychotherapy. With multiple clinical catalysts ahead and
capital expected to fund operations into 2029, we believe AtaiBeckley is well positioned to advance a differentiated portfolio of rapid-acting mental health therapies."
Program Updates and Anticipated Milestones
BPL-003: mebufotenin benzoate nasal spray for TRD
VLS-01: dimethyltryptamine (DMT) buccal film for TRD
EMP-01: Oral R-enantiomer of 3,4-methylenedioxy-methamphetamine (R-MDMA) for social anxiety disorder (SAD)
Upcoming Anticipated Milestones and Events
Consolidated Financial Results
Cash, cash equivalents, and short-term
securities (primarily US treasuries): As of December 31, 2025, the Company had cash, cash equivalents and short-term securities of $220.7 million compared to $72.3 million of cash, cash
equivalents, restricted cash and short-term securities as of December 31, 2024. The $148.4 million increase is primarily attributable to $291.1 million in net proceeds from equity-related
issuances and $9.1 million in proceeds from sale of equity holdings, partially offset by $102.7 million used in operations, $21.8 million payoff of Hercules debt facility, $20.0 million in payments relating to the Beckley Psytech investment prior
to the strategic combination, and $10.0 million investment in digital assets. The Company expects its cash, cash equivalents, short-term investments and other liquid assets to fund operations into 2029.
Research and development (R&D) expenses: R&D expenses were $19.0 million and $53.1 million for the three and twelve months ended December 31, 2025, respectively, as compared to $18.9
million and $55.5 million for the same prior year periods. The year-over-year full-year decrease of $2.4 million was primarily attributable to decreased personnel-related expenses and consulting services, partially offset by higher clinical
program contract research organizations and manufacturing costs.
We recorded non-cash acquisition of in-process R&D expenses of $527.0 million and $530.0 million for the three and twelve months ended December 31, 2025, respectively, primarily relating to the strategic combination with Beckley
General and administrative (G&A) expenses:
G&A expenses for the three and twelve months ended December 31, 2025, were $25.1 million and $65.1 million, respectively, as
compared to $11.3 million and $47.5 million in the same prior year periods. The year-over-year increase of $17.6 million was primarily attributable to increased legal and professional service expenses in connection with the Beckley Psytech
strategic combination and the Company's redomiciliation to the United States, partially offset by decreases in personnel-related expenses.
Net income (loss): Net loss attributable to stockholders for the three and twelve months ended December 31, 2025, was $544.8 million and $660.0 million, respectively, as compared to $39.0 million and $149.3 million for the comparable prior year periods. Net loss attributable to stockholders for the twelve months ended December 31, 2025, includes $24.4 million non-cash reduction in the fair value of assets and liabilities, net, $14.2 million of non-cash stock-based compensation, and $10.7 million non-cash gain related to the
investment in Beckley Psytech. Net loss attributable to stockholders for the twelve months ended December 31, 2024, includes $48.9 million
non-cash reduction in the fair value of assets and liabilities, net and $25.5 million of non-cash stock-based compensation.
About AtaiBeckley Inc.
AtaiBeckley is a clinical-stage biotechnology company with a mission to transform patient outcomes by developing rapid-acting, durable and
convenient mental health treatments. AtaiBeckley's pipeline of novel therapies includes BPL-003 (mebufotenin benzoate nasal spray) for treatment-resistant depression (TRD), VLS-01 (DMT buccal film) for TRD and EMP-01 (oral R-MDMA) for social
anxiety disorder. BPL-003 is in Phase 3 planning, VLS-01 and EMP-01 are in Phase 2 clinical development. The Company is also advancing a drug discovery program to identify novel, non-hallucinogenic 5-HT2AR agonists for
opioid use disorder and TRD. These programs aim to create new breakthroughs in mental health by providing transformative interventional psychiatry therapies that can integrate seamlessly into healthcare systems.
For the latest updates and to learn more about the AtaiBeckley mission, visit www.ataibeckley.com
or follow the Company on LinkedIn and on X.
Forward-looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. We
intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "anticipate," "initiate," "could," "would," "project," "plan," "potentially," "preliminary," "likely," and similar expressions are intended to
identify forward-looking statements, although not all forward-looking statements contain these words. Forward-looking statements include express or implied statements relating to, among other things: our business strategy and plans; the potential,
success, cost and timing of development of our product candidates, including the progress of preclinical and clinical trials and related milestones and the outcome of related regulatory discussions; expectations regarding our intellectual property
portfolio; expectations regarding our cash runway; and the plans and objectives of management for future operations, research and development and capital expenditures.
Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual
results to differ materially from those projected, including, without limitation, the important factors described in the section titled "Risk Factors" in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission
("SEC") or Quarterly Reports on Form 10-Q filed with the SEC, as such factors may be updated from time to time in our other filings with the SEC. AtaiBeckley disclaims any obligation to update or revise any forward-looking statements contained in
this press release, other than to the extent required by applicable law.
Contact Information:
VP, Investor Relations
Associate Director, Communications
-- Financial Statements Attached -
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except share and per share amounts)
| Three Months Ended | Twelve Months Ended | |||||||||||||||
| December 31, | December 31, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| (unaudited) | ||||||||||||||||
| Revenue | $ | 1,066 | $ | (5 | ) | $ | 4,089 | $ | 308 | |||||||
| Operating expenses: | ||||||||||||||||
| Research and development | 18,962 | 18,942 | 53,062 | 55,455 | ||||||||||||
| Acquisition of in-process research and development | 527,000 | - | 530,000 | - | ||||||||||||
| General and administrative | 25,086 | 11,318 | 65,088 | 47,544 | ||||||||||||
| Total operating expenses | 571,048 | 30,260 | 648,150 | 102,999 | ||||||||||||
| Loss from operations | (569,982 | ) | (30,265 | ) | (644,061 | ) | (102,691 | ) | ||||||||
| Other income (expense), net | 25,062 | (8,919 | ) | (15,788 | ) | (45,714 | ) | |||||||||
| Net loss before income taxes | (544,920 | ) | (39,184 | ) | (659,849 | ) | (148,405 | ) | ||||||||
| Benefit from (provision for) income taxes | 82 | 193 | (298 | ) | 356 | |||||||||||
| Losses from investments in equity method investees, net of tax | - | - | - | (2,000 | ) | |||||||||||
| Net loss | (544,838 | ) | (38,991 | ) | (660,147 | ) | (150,049 | ) | ||||||||
| Net loss attributable to noncontrolling interests | (25 | ) | (33 | ) | (100 | ) | (780 | ) | ||||||||
| Net loss attributable to AtaiBeckley Inc. stockholders | $ | (544,813 | ) | $ | (38,958 | ) | $ | (660,047 | ) | $ | (149,269 | ) | ||||
| Net loss per share attributable to AtaiBeckley Inc. stockholders - basic and diluted | $ | (1.73 | ) | $ | (0.24 | ) | $ | (2.91 | ) | $ | (0.93 | ) | ||||
| Weighted average common shares outstanding attributable to AtaiBeckley Inc. stockholders - basic and diluted | 314,276,378 | 160,711,543 | 226,532,786 | 160,159,983 |
CONDENSED CONSOLIDATED BALANCE SHEET
(Amounts in thousands)
| December 31, | December 31, | |||||||
| 2025 | 2024 | |||||||
| Assets | ||||||||
| Cash and cash equivalents | $ | 85,300 | $ | 17,505 | ||||
| Securities carried at fair value | 135,351 | 44,825 | ||||||
| Short-term restricted cash for other investments | - | 10,000 | ||||||
| Other current investments held at fair value | 35,389 | - | ||||||
| Prepaid expenses and other current assets | 19,644 | 7,795 | ||||||
| Property and equipment, net | 2,166 | 2,535 | ||||||
| Operating lease right-of-use assets, net | 1,846 | 1,334 | ||||||
| Other investments held at fair value | - | 28,887 | ||||||
| Other investments | - | 42,079 | ||||||
| Intangible assets, net | 2,851 | 3,246 | ||||||
| Goodwill | 331 | 331 | ||||||
| Digital assets | 8,735 | - | ||||||
| Other assets | 1,110 | 850 | ||||||
| Total assets | $ | 292,723 | $ | 159,387 | ||||
| Liabilities and Stockholders' Equity | ||||||||
| Accounts payable | $ | 4,906 | $ | 2,616 | ||||
| Accrued liabilities | 14,168 | 9,847 | ||||||
| Current portion of lease liabilities | 271 | 477 | ||||||
| Short-term convertible promissory notes and derivative liability - related party | - | 1,150 | ||||||
| Short-term convertible promissory notes and derivative liability | - | 1,840 | ||||||
| Current portion of long-term debt | - | 6,374 | ||||||
| Deferred revenue | 1,524 | 721 | ||||||
| Other current liabilities | 2,610 | 1,926 | ||||||
| Contingent consideration liability - related party | 104 | 110 | ||||||
| Contingent consideration liabilities | 205 | 212 | ||||||
| Noncurrent portion of lease liabilities | 1,801 | 732 | ||||||
| Pre-funded warrant liabilities | 44,379 | - | ||||||
| Long-term debt, net | - | 14,133 | ||||||
| Other liabilities | 754 | 2,695 | ||||||
| Total stockholders' equity attributable to AtaiBeckley Inc. stockholders | 221,874 | 116,297 | ||||||
| Noncontrolling interests | 127 | 257 | ||||||
| Total liabilities and stockholders' equity | $ | 292,723 | $ | 159,387 |