AtaiBeckley Inc. (NASDAQ:ATAI) on Thursday shared topline results from an exploratory Phase 2a trial of EMP-01, an oral R-MDMA treatment for Social Anxiety Disorder.
The encouraging data highlights a favorable safety profile and significant patient improvement, which may be contributing to the stock’s upward movement from an exploratory Phase.
Social Anxiety Data
In the trial, 49% of patients receiving EMP-01 were rated as “very much improved” or “much improved,” compared to only 15% in the placebo group, indicating a clinically meaningful improvement.
The 34-percentage-point difference corresponds to a Number Needed to Treat (NNT) of 2.95, indicating a clinically meaningful level of global improvement in the EMP-01 group.
EMP-01 demonstrated improvements across both Fear and Avoidance sub-domains of the Liebowitz Social Anxiety Scale (LSAS), including improvement in social avoidance behaviors after two administrations over six weeks, and without adjunctive psychotherapy.
The study, which involved 71 adults across seven clinical sites in the U.K., met its primary safety objective, showing no serious adverse events.
The results suggest that EMP-01 could significantly impact the treatment landscape for Social Anxiety Disorder, a condition that has seen little therapeutic advancement in over two decades.
Technical Analysis
The stock is currently trading 10.5% below its 20-day simple moving average (SMA) and 5.2% below its 100-day SMA, indicating some short-term weakness. Over the past 12 months, shares have increased by 43%, and they are currently positioned closer to their 52-week highs than lows, reflecting a strong longer-term trend.
The RSI is at 50.00, which is considered neutral territory, suggesting that the stock is neither overbought nor oversold. Meanwhile, MACD is at 0.10, below its signal line at 0.15, indicating bearish pressure on the stock.
The combination of neutral RSI and bearish MACD suggests mixed momentum, indicating that traders should watch for potential changes in direction.
- Key Resistance: $5.00
- Key Support: $4.00
ATAI Price Action: AtaiBeckley shares were down 10.60% at $3.88 at the time of publication on Thursday, according to Benzinga Pro data.
Image via Shutterstock/ fizkes
