Atai Beckley N.V. (ATAI) Achieves Significant Milestone on Pipeline Development and Corporate Foundation

Atai Beckley N.V. (NASDAQ:ATAI) is one of the best debt-free penny stocks to buy right now. On December 23, chief executive officer Srinivas Rao reiterated significant progress in pipeline development and corporate foundation. The remarks followed the company’s addition to the NASDAQ Biotechnology Index.

The addition followed the strengthening of the company’s balance sheet with the raising of $300 million in capital expected to support the advancement of multiple clinical programs into late-stage development. In addition, the company has deepened its leadership in the development of next-generation mental health therapeutics through a strategic partnership with Beckley Psytech.

“As we look ahead, AtaiBeckley is entering a pivotal phase and is well positioned to translate scientific leadership into long-term value for both patients and shareholders, as our recent addition to the NBI further validates, said Srinivas Rao, Chief Executive Officer of AtaiBeckley.

ATAI Beckley has also completed the redomiciliation of its parent company, AtaiBeckley Group, from a Netherlands company to a U.S. entity. The redomiciliation is expected to save costs, simplify corporate structure, and streamline reporting requirements.

Atai Beckley N.V. (NASDAQ:ATAI) is a clinical-stage biopharmaceutical company that develops treatments for mental health disorders. Its pipeline includes psychedelic and non-psychedelic compounds targeting depression, anxiety, and other unmet needs in psychiatry.

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Disclosure: None. This article is originally published at Insider Monkey.