Compass Pathways rises as Peter Thiel-backed Atai ups stake

AtaiBeckley

29/11/2021 14:46

** Compass Pathways plc  CMPS.O  shares up 1.2% at $33.15
early Mon after Peter Thiel-backed start-up discloses increased
stake in fellow mental health drug developer
    ** German psychedelic co Atai Life Sciences  ATAI.O  last
week bought about 619,000 CMPS shares at avg price of $31.525,
boosting its stake from 19.4%% to 20.8%, per filing https://www.sec.gov/Archives/edgar/data/1816590/000119312521341785/d236908dsc13da.htm
    ** CMPS shares have lost about 20% this month. On Nov 9, co
reported positive topline results from mid-stage trial of
experimental drug for treatment-resistant depression, but also
found serious side-effects like suicidal behavior and
intentional self-injury  urn:newsml:reuters.com:*:nL4N2S03DH
    ** Atai debuted on the Nasdaq in June at $21, 40% above IPO
price, but its shares are currently trading at $10.96, down ~2%
on the session, for roughly $1.8 bln market cap, per Refinitiv
data  urn:newsml:reuters.com:*:nL3N2O03DU

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))