Atai Life Sciences, UniQuest launch InnarisBio » 09:1407/2807/28/21
atai Life Sciences and…
atai Life Sciences and UniQuest announced the launch of InnarisBio, to develop a novel sol-gel intranasal drug delivery technology to improve treatments for mental health disorders. InnarisBio aims to commercialize the sol-gel intranasal drug delivery platform technology developed in the laboratory of UQ researcher Dr. Harendra Parekh at the School of Pharmacy in the Faculty of Health and Behavioural Sciences. The platform technology, which also includes a patent filing, was licensed to InnarisBio by UniQuest. Under the terms of the license, InnarisBio will receive exclusive rights in their desired fields. Florian Brand, CEO and co-founder of atai Life Sciences said, "This novel technology has the potential to be superior to other intranasal drug delivery methods available by improving absolute uptake and duration of uptake through muco-adhesion in the nose, reducing dose administered and dosing frequency. We plan to explore the potential use of this technology for a variety of psychedelic and non-psychedelic compounds across atai's platform." Under the terms of the license, InnarisBio will receive exclusive rights in their desired fields and UniQuest will receive equity in InnarisBio along with the potential to receive future development and commercial milestone payments and a royalty on product sales. InnarisBio will collaborate with UniQuest, UQ's Dr Parekh and his research team to formulate and develop bespoke sol-gel formulations for several psychedelic and non-psychedelic compounds nominated by InnarisBio.
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Atai Life Sciences initiated with a Buy at Baader Helvea » 05:3707/1407/14/21
Baader Helvea initiated…
Baader Helvea initiated coverage of Atai Life Sciences with a Buy rating and $21 price target.
Atai Life Sciences initiated with an Outperform at Cowen » 08:5507/1307/13/21
Cowen analyst Ritu Baral…
Cowen analyst Ritu Baral initiated coverage of Atai Life Sciences with an Outperform rating and no price target. The company's current pipeline consists of 10 therapeutics and six technologies focused on mental health disorders, Baral tells investors in a research note. The analyst believes Atai will create "much shareholder value" as its multiple candidates advance through the clinic and generate data in the next 12-18 months.
Atai Life Sciences initiated with a Buy at Canaccord » 06:5807/1307/13/21
Canaccord analyst Sumant…
Canaccord analyst Sumant Kulkarni initiated coverage of Atai Life Sciences with a Buy rating and $28 price target. The clinical-stage biopharma company has a decentralized model of development via acquisitions or creating new companies, which has given it a relatively large pipeline of 10 programs, half of which are psychedelics, Kulkarni noted. Though the stock is up about 25% since its IPO, Kulkarni sees "more upside to come" given the multi-billion dollar market opportunities for indications in which Atai expects to compete and what the analyst sees as "a steady stream of catalysts."
Atai Life Sciences initiated with an Overweight at Cantor Fitzgerald » 06:5707/1307/13/21
Cantor Fitzgerald analyst…
Cantor Fitzgerald analyst Charles Duncan initiated coverage of Atai Life Sciences with an Overweight rating and $45 price target. Atai is an emerging Neuro-Innovator that we believe could become a leader in developing drugs to facilitate a new paradigm for treating high unmet need mental health disorders, Duncan tells investors in a research note.
Atai Life Sciences initiated with a Buy at Berenberg » 06:3707/1307/13/21
Berenberg initiated coverage of Atai Life Sciences with a Buy rating and $35 price target.
Atai Life Sciences initiated with a Buy at Citi » 06:2807/1307/13/21
Citi analyst Neena…
Citi analyst Neena Bitritto-Garg initiated coverage of Atai Life Sciences with a Buy rating and $26 price target. The analyst cites the company's leadership position in the psychedelic medicine revolution for the Buy rating. Emerging data on the clinical benefit of psychedelics and increasing regulatory flexibility "has spurred a new wave of interest," Bitritto-Garg tells investors in a research note. The analyst expects continued regulatory de-risking, physician/patient enthusiasm, and an increasingly active public health conversation about mental health to make the stock appealing to both specialist and generalist investors.
Atai Life Sciences initiated with a Sector Perform at RBC Capital » 06:2807/1307/13/21
RBC Capital analyst Brian…
RBC Capital analyst Brian Abrahams initiated coverage of Atai Life Sciences with a Sector Perform rating and $19 price target. Abrahams believes the company's valuation appropriately credits its broad assembly of promising assets and future leadership potential in an emerging neuropsych space, and expects in-line trade in the near-term as the company executes on its early clinical development and in-licensing strategies, until the programs mature further and more de-risking data emerge, the analyst tells investors in a research note.
Atai Life Sciences initiated with an Outperform at Credit Suisse » 06:2607/1307/13/21
Credit Suisse analyst…
Credit Suisse analyst Judah Frommer initiated coverage of Atai Life Sciences with an Outperform rating and $25 price target. The analyst believes Atai Life offers investors a diversified platform built around 10 development programs and six enabling technologies. These programs cover a wide range of mental health disorders including depression, substance use disorder, cognitive impairment, anxiety, and post-traumatic stress disorder, Frommer tells investors in a research note. The analyst thinks Atai is "attractively positioned" to capitalize on increased awareness around psychedelic drug development, with five of its programs leveraging psychedelic compounds.
Opening Day: Moving iMage moves up on market debut » 08:1207/1007/10/21
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