AtaiBeckley surges after report Lilly poised to buy psychedelic drug developer

AtaiBeckley shares jumped 50% premarket after a report that Eli Lilly is in talks to acquire the psychedelic drug developer potentially as soon as this week, signaling a major M&A catalyst. The news is likely to drive near-term upside volatility for the company as deal prospects develop.

Analysis

AtaiBeckley shares jumped 50% premarket after a report that Eli Lilly is in talks to acquire the psychedelic drug developer potentially as soon as this week, signaling a major M&A catalyst. The news is likely to drive near-term upside volatility for the company as deal prospects develop.