TD Cowen downgraded AtaiBeckley (ATAI) to Hold from Buy without a price target after after Eli Lilly (LLY) agreed to acquire the company for $6....

AtaiBeckley shares jumped 64.70% after hours following reports that Eli Lilly is in talks to acquire the psychedelic drugmaker at a premium.

Lilly will acquire AtaiBeckley in a deal worth up to $3.8 billion, adding late-stage depression therapies to its mental health pipeline.

TD Cowen downgraded AtaiBeckley (ATAI) to Hold from Buy without a price target after after Eli Lilly (LLY) agreed to acquire the company for $6....