Positive data from Irish biotechnology firm GH Research’s Phase 2 trial of GH001, an inhalation formulation of synthetic mebufotenin (5-MeO-DMT), in treatment-resistant depression bodes well for atai Life Sciences (NASDAQ:ATAI, ETR:9VC)’ own psychedelic, analysts at Jefferies believe.
Jefferies repeated its ‘Buy’ rating on atai and awarded it a $5 price target. The stock traded 14.3% higher at US$1.77 in the early afternoon on Monday, boosted by GH Research’s results.
Shares of automakers fell in early trade on Monday after the United States imposed a 25% tariff on most goods from Canada and Mexico and 10% on various Chinese goods, raising concerns about a potential global trade war.
The tariffs will hit the automotive sector hard because it relies heavily on cross-border manufacturing and complicated supply chains.
Coniagas Battery Metals (TSX-V:COS) announced that it has engaged Laurentia Exploration to manage ongoing exploration activities at its Graal property in Quebec.
The company said it aims to expand the resource potential of the polymetallic project, which features nickel-copper-cobalt-platinum group metals massive sulfide mineralization zones, and enhance its economic viability.
Triumph Group shares surged almost 35% after the aerospace parts maker announced it would be taken private by Warburg Pincus and Berkshire Partners in a deal valued at about $3 billion.
Radnor, Pennsylvania-based Triumph said its shareholders will receive $26 per share, representing a premium of 123% over its unaffected closing stock price.
Shares in Ultimate Products (LSE:ULTP), owner of the Bedlray and Salter household brands, fell 16% after the company reported a decline in first-half revenue due to weak UK consumer demand.
Sales for the six months to 31 January 2025 dropped 5.7% to £79.4 million, with UK sales struggling while international revenue grew 12%. The decline was partly driven by a 46% drop in air fryer sales, a key product category in the previous year.