Eli Lilly is in talks to acquire psychedelic drugmaker AtaiBeckley 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. 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.
Weight-loss drugmaker Lilly nears $1.97 bn AtaiBeckley's acquisition: Report
Eli Lilly is reportedly negotiating to acquire psychedelic drugmaker AtaiBeckley. AtaiBeckley shares experienced a significant surge following the news of these discussions. The company focuses on mental health treatments using psychedelic-based compounds. AtaiBeckley is developing an intranasal formulation for treatment-resistant depression. Talks are ongoing, and a deal could be announced this week.
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