atai Life Sciences (NASDAQ:ATAI, ETR:9VC) stock is poised to move higher following its planned merger with Beckley Psytech, as the combined entity will provide investors with maximum exposure to a promising therapy targeting treatment-resistant depression (TRD), analysts at Jefferies believe.
BPL-003, Beckley’s intranasal formulation of 5-MeO-DMT, is a short-acting psychedelic with the potential to deliver rapid and durable effects in TRD.
Boeing Co (NYSE:BA, ETR:BCO) has earned an upgrade from Bank of America to “Buy” from “Neutral,” with analysts citing growing confidence in the aerospace giant’s turnaround under CEO Kelly Ortberg and its emerging role as a favored asset in U.S. trade negotiations.
“Under Kelly’s leadership, we are more confident BA can break the ‘doom loop,’” BofA analysts wrote in a note titled Sisyphus on the path to breaking the 'doom loop.'
Moderna Inc (NASDAQ:MRNA, ETR:0QF) shares edged higher after the US Food and Drug Administration (FDA) approved its newest COVID-19 vaccine mNEXSPIKE (mRNA-1283).
The vaccine was approved for use in adults aged 65 and older and individuals aged 12 to 64 who have at least one underlying health risk factor as defined by the Centers for Disease Control and Prevention (CDC), Moderna said on Monday.
atai Life Sciences (NASDAQ:ATAI, ETR:9VC) announced it has inked a definitive agreement to merge with Beckley Psytech, a private clinical-stage biopharmaceutical company developing psychedelic-based therapies, in an all-share transaction valued at $390 million.
The merger is contingent upon the achievement of pre-agreed success criteria in Beckley’s ongoing Phase 2b trial of BPL-003 (mebufotenin benzoate), the company said.
Shares of American steel firms jumped in early trade on Monday after US president Donald Trump said he would be doubling tariffs on steel imports to 50% from 25%, effective June 4.
“We're going to bring it from 25% to 50%, the tariffs on steel into the United States of America, which will even further secure the steel industry in the United States," Trump said at a rally in Pennsylvania on Friday.
US Gold Corp (NASDAQ:USAU) is set to be added to the Russell 3000 and Russell 2000 indexes following the conclusion of FTSE Russell’s annual reconstitution later this month.
Membership in the broad-market Russell 3000 Index, which comprises the largest 3,000 US public companies by market capitalization, results in automatic inclusion in the Russell 2000 Index for small-cap firms.
Tesla Inc (NASDAQ:TSLA) stock was marked down 1.6% ahead of Monday’s opening bell, following fresh data showing another sharp decline in car sales across much of Europe.
May marked the fifth straight month of falling registrations for the company, with steep drops in markets including Sweden, Portugal, Denmark and France.
Polarean Imaging PLC (AIM:POLX, OTC:PLLWF) shares rose 7% in afternoon trading after the company received US regulatory approval to expand the use of its lung imaging agent, XENOVIEW, to children as young as six.
The decision by the Food and Drug Administration lowers the age threshold from 12, potentially opening access to around one million additional patients.