Shares of the Atai Life Sciences N.V. (ATAI) stock were rising in the current market trading session today on January 7, 2022. ATAI stock price saw a push of 0.61% to reach $6.64 a share at the time of this writing. The trading volume on the last check was 397,494. Let’s deep dive to understand the reason behind this rally.
What’s Happening?
ATAI stock is hot among investors in the stock market today however there is no specific news associated with this rise. There is no press release or any announcement by Atai Life Sciences to justify the current bullish sentiment. No analyst has upgraded or increased the per-share target price of ATAI stock in recent times. It seems that the stock is getting the push due to discussions among investors on the social media platforms like Reddit, StockTwits, Twitter, etc. So, what do you need to know now at this point, let’s discuss some recent events of ATAI stock?
Recent event of ATAI stock
Atai Life Sciences’ recent program atai Impact previously on December 16, 2021, announced the establishment of the Fellowship Fund in Psychedelic Neuroscience. The company announced this fellowship program in collaboration with Massachusetts General Hospital’s (MGH) Center for the Neuroscience of Psychedelics.
The Fellowship program will increase the research on psychedelics in order to meet the needs of the patients. The graduate student will be able to take benefit from this program.
The company launched the atai Impact in October 2021, the purpose of which is to expand the mental health care ecosystem. Atai impact is initially focusing on psychedelics.
Financial View of ATAI stock
According to the third quarter of 2021 financial results, the company spent $13.4 million in research and development expenses. In the first nine months of 2021, research and development expenses reached $35.0 million. Research and development expenses significantly increased in these periods as compared to respective periods in the previous year. This represents positive growth of the company which is a good sign for long-term shareholders of ATAI stock.
General and administrative expenses in the third quarter of 2021 were $20.3 million as compared to $4.3 million in the same tenure of the previous year. In the first nine months of 2021, the company spent $66.9 million in general and administrative expenses.
Net loss of the ATAI stock was $31.2 million in the third quarter of 2021. Net loss for the first nine months of 2021 was $78.9 million. The company ended the quarter with
