As investors pile into psychedelics, idealism gives way to pharma economics [Yahoo! Finance]
ATAI Life Sciences N.V. - Common Shares (ATAI)
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Source: Yahoo! Finance
While psychedelics are still illegal under federal law, companies are jostling to try and patent key ingredients found in magic mushrooms, ayahuasca and other substances that have been used underground for decades or — in some cases — for millennia by indigenous cultures. Wall Street's sudden exuberance for hallucinogens has rankled longtime advocates and philanthropists , who dreamed of making low-cost psychedelics widely available for mental health and personal growth. Instead, many now see a very different future for drugs like psilocybin and LSD: as expensive, specialty medications controlled by a handful of biotech companies. “It's disappointing,” said Carey Turnbull, an investor and philanthropist who sits on the board of several psychedelic nonprofits. “All the air is getting sucked out of the room by these for-profit companies who say, ‘Wow, this stuff is awesome, if I could patent it I'd make a fortune.'” Since 2010, Turnbull and his wife have donated millions to fund
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ATAI
Earnings
- 3/28/24 - Beat
ATAI
Sec Filings
- 5/3/24 - Form 144
- 4/22/24 - Form DEF
- 4/17/24 - Form 4
- ATAI's page on the SEC website