Overview

• US biotech firm's Q1 revenue fell yr/yr, net loss widened

• Higher R&D and G&A expenses drove increased net loss in Q1

• Company expects cash to fund operations through anticipated Phase 3 topline readouts into 2029

Outlook

• AtaiBeckley expects to initiate BPL-003 Phase 3 program for depression in Q2 2026

• Company anticipates VLS-01 Phase 2 topline results in Q4 2026

• AtaiBeckley expects cash to fund operations through BPL-003 Phase 3 topline readouts, with runway into 2029

Result Drivers

• R&D SPENDING - Higher clinical development and personnel costs for BPL-003, VLS-01, and EMP-01 drove increased R&D expenses

• G&A EXPENSES - Increased legal, intellectual property, professional service, and personnel costs raised G&A expenses

Company press release: ID:nGNX8GlQWL

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 EPS		-$0.08
Q1 Net Income		-$29.80 mln
Q1 Operating Expenses		$31.86 mln
Q1 Operating Income		-$30.90 mln
Q1 Pretax Profit		-$29.78 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• Wall Street's median 12-month price target for AtaiBeckley Inc is $14.50, about 258.9% above its May 11 closing price of $4.04

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