Eli Lilly Acquires AtaiBeckley in $2.8 Billion Deal; Cathie Wood Shifts Focus to Compass Pathways
On July 16, Eli Lilly announced a deal to acquire biotech firm AtaiBeckley for an upfront payment of $2.8 billion, with up to $1 billion more available through milestone payments. The acquisition centers around BPL-003, a nasal spray in phase 3 trials for treatment-resistant depression (TRD), which could generate peak annual sales between $1 billion and $2 billion if approved. Cathie Wood’s Ark Invest sold shares of AtaiBeckley following the news but simultaneously increased its stake in Compass Pathways. This shift reflects a belief that Compass, with its psilocybin-based therapy COMP360 already showing positive phase 3 results, is closer to market approval and regulatory clarity. Recent changes in U.S. psychedelic drug policy have accelerated development timelines for therapies like these. An executive order by President Donald Trump prioritized FDA review of psychedelics, while Compass received a CNPV voucher that could fast-track its NDA submission as early as late 2026.
