Clinical stage bio-pharmaceutical company aiming to transform treatment of mental conditions and disorders Atai Life Sciences BV (ATAI) made history as the third psychedelics company to get listed on the NASDAQ stock exchange market.
Shares of the company are now trading in Nasdaq under the ticker symbol ‘ATAI’. This listing comes as a relief since the company had been anticipating it for quite some time now however, it was long overdue.
Atai floated 15 million shares in Nasdaq as each share went for $15 in the initial public offering, a majority of this shares will be retained by the company’s insiders.
Many experts are expecting this latest psychedelic listing to maintain the larger psychedelics sector afloat.
On the day Atal Life Sciences made its debut on Nasdaq, the stock rallied making highs of $21 representing a 40% increase in relation to the IPO price. Later the stock closed the day at $19.45.