AbbVie Raises Neuroscience Sales Guidance to $12.7 Billion for 2026
AbbVie now expects its neuroscience portfolio to generate approximately $12.7 billion in revenue during 2026, raising guidance by another $100 million after a strong first half of the year. The portfolio generated $10.8 billion last year and continues to grow at a double-digit pace. Second-quarter neuroscience revenue climbed 20.3% year over year to $3.23 billion, led by Vraylar at $1.07 billion, therapeutic Botox at $1.04 billion, and migraine drugs Ubrelvy and Qulipta at $742 million combined. AbbVie also acquired Gilgamesh Pharmaceuticals' lead drug candidate bretisilocin for $906 million upfront, with another $300 million tied to future development milestones, as part of its push into psychedelics-based medicines for major depressive disorder.
Helus Pharma reported a first-quarter fiscal 2027 net loss of $47.8 million for the quarter ended June 30, 2026, compared to a net loss of $24.6 million in the same period last year. Cash totaled $166.4 million as of June 30, 2026. Cash-based operating expenses consisting of research, general, and administrative costs totaled $37.5 million for the quarter, compared to $23.9 million in the same period last year.
NRx Pharma rises as FDA completes initial review of ketamine product
Shares of NRx Pharmaceuticals rose after the FDA completed an initial review of its marketing application for a preservative-free ketamine product without identifying any major drug-related deficiencies. The regulator did not require new clinical or drug-related findings to prove safety and efficacy, but it classified a question about the luer lock tip of the medication vial as a major deficiency. Following a clarification meeting on August 6, NRx Pharma cited a substantially de-risked path to approval, noting that three ANDA-approved products on the market use the same luer-lock vial. CEO Jonathan Javitt said the company is encouraged by the FDA's commitment to review the remaining information in the shortest possible cycle.
Compass Pathways partners with VA on psilocybin trial for veterans with treatment-resistant depression
Compass Pathways is working with the U.S. Department of Veterans Affairs on a multi-site randomized controlled trial evaluating COMP360 psilocybin for veterans with treatment-resistant depression, including those with concurrent PTSD. The trial, called PIVOT, will enroll veterans at five VA sites led by the Birmingham VA Health Care System and compare two doses of COMP360 with an optional second open-label administration. Compass will donate the synthetic psilocybin formulation and provide training materials and guidance, while VA investigators will train healthcare providers. The primary endpoint is depression severity measured by the MADRS scale, with secondary outcomes including PTSD symptoms and tolerability. Compass Pathways CEO Kabir Nath called the study groundbreaking and expressed gratitude for VA resources to explore psilocybin's potential in transforming care for veterans.
Rose Hill Life Sciences and Control Z sign letter of intent to advance psilocybin therapy for PTSD
Rose Hill Life Sciences and Control Z have signed a letter of intent to advance a clinically structured psilocybin-assisted therapy program for post-traumatic stress disorder through Rose Hill’s Psychedelic Therapeutic Intervention program. The collaboration, which awaits state approval and licensing, aims to deliver a fully regulated, medically supervised psychedelic therapy program in Massachusetts, combining Rose Hill’s scientific and regulatory infrastructure with Control Z’s bio-psycho-social care model. PTSD affects an estimated 13 million Americans annually, and the partnership targets patients who have not responded to conventional treatments, including veterans and first responders. Rose Hill’s PTI program for PTSD is one of four active clinical-stage development efforts, alongside a lead program with Johns Hopkins University investigating psilocybin for post-stroke motor recovery. Psilocybin remains an investigational compound not approved by the FDA for any indication outside regulated research.
Wohl & Fruchter Investigates Fairness of AtaiBeckley Sale to Eli Lilly
The law firm of Wohl & Fruchter LLP is investigating the fairness of the proposed sale of AtaiBeckley, Inc. to Eli Lilly and Company. Under the deal, AtaiBeckley shareholders would receive $6.75 per share in cash plus a contingent value right worth up to an additional $2.50 per share. The firm notes that the total potential consideration of $9.25 per share is well below Wall Street price targets from analysts at H.C. Wainwright, Canaccord Genuity, Oppenheimer, Guggenheim, and Berenberg Bank, which ranged from $14.00 to $25.00 before the announcement. Shareholders on Seeking Alpha have expressed disappointment, with one calling the price a cheap sellout and another saying even $50.00 per share would be a steal for Eli Lilly. Wohl & Fruchter is examining whether the AtaiBeckley board acted in shareholders' best interests and whether all material information has been disclosed.
Five Biotech Stocks Delivered Triple-Digit Gains in Under Two Years
RTTNews highlights five biotech and medical device stocks that generated returns of 86% to 327% since being featured on its website. Arrowhead Pharmaceuticals surged 222% to a 52-week high of $95.49 following FDA approval of its lead drug Redemplo and positive clinical data. Compass Pathways climbed 327% to a 3.5-year high of $15.40 after reporting positive Phase 3 results for its psilocybin therapy COMP360 in treatment-resistant depression. CG Oncology rose 148% to an all-time high of $77.00 on the back of encouraging data for its bladder cancer candidate Cretostimogene. Alpha Tau Medical gained 182% to a 52-week high of $14.11 driven by regulatory progress and promising clinical results for its Alpha DaRT cancer therapy. Electromed advanced 86% to a 52-week high of $47.40 supported by strong quarterly revenue and profit growth.
Jupiter Neurosciences Signs Up to $100 Million Deal for Exclusive U.S. Rights to Psychedelic MDMA Formulation
Jupiter Neurosciences has signed a definitive licensing agreement with PharmAla Biotech for perpetual exclusive U.S. rights to ALA-002, a patented formulation of MDMA, in a deal valued at up to $100 million including milestones. The transaction transforms Jupiter into a dual clinical-stage CNS company, adding ALA-002 to its existing Phase II Parkinson's disease program for JOTROL, a proprietary enhanced bioavailability resveratrol formulation. Chairman and CEO Christer Rosén and President Alison Silva discussed the acquisition during a fireside chat hosted by IPO Edge, noting the primary indication for ALA-002, its addressable market size, and potential revenue relative to the acquisition cost. They also addressed the status of the Phase II Parkinson's trial, the evolving U.S. regulatory landscape for psychedelics, and key milestones across the company's portfolio.
Eli Lilly to Acquire AtaiBeckley for $2.8 Billion Upfront
Eli Lilly has entered into a definitive agreement to acquire clinical-stage biotech AtaiBeckley for an initial upfront payment of $2.8 billion. Under the deal, Lilly will pay AtaiBeckley shareholders $6.75 per share in cash upon closing, with the potential for an additional $2.50 per share through contingent value rights if specified development and regulatory milestones for the BPL-003 and VLS-01 programs are achieved, which could increase the total deal value by up to $1.0 billion. The acquisition is driven by AtaiBeckley's pipeline of novel psychedelic therapies for mental health disorders, including lead asset BPL-003, an intranasal formulation of mebufotenin benzoate in Phase III for treatment-resistant depression that has received FDA Breakthrough Therapy designation. The transaction, expected to close in the third quarter of 2026, is part of Lilly's broader 2026 acquisition spree totaling more than $20 billion in biotech deals to diversify beyond GLP-1 therapies.
AtaiBeckley Trades at 13.2x Price-to-Book After Eli Lilly’s $3.8 Billion Bid
Eli Lilly and Company has agreed to acquire AtaiBeckley in a cash and contingent value rights deal valued at up to $3.8 billion, putting fresh focus on the stock's valuation. AtaiBeckley's share price surged 33.4% on the announcement and is up 84.75% year to date, with a one-year total shareholder return of 156.27% contrasting with a five-year total shareholder return that remains down 58.57%. The stock last closed at $7.15, above Eli Lilly's $6.75 per share cash offer, and its price-to-book multiple stands at 13.2x, more than five times the US pharmaceuticals industry average of 2.4x and more than double the peer group average of 5.5x. The company recorded a loss of $663.4 million on only $3.5 million of reported revenue and is forecast to remain unprofitable over the next three years, suggesting the market is pricing in substantial future potential for its mental health pipeline and clinical-stage assets.
Manpower, Abbott, UnitedHealth lead midday stock movers on earnings beats
Several stocks made big moves in midday trading following earnings reports and analyst actions. ManpowerGroup surged 33% after calling for third-quarter revenue to rise 2% to 6%, above the FactSet consensus of 1.7%, and posting adjusted earnings of 99 cents per share on revenue of $4.9 billion, topping estimates. Abbott Laboratories jumped almost 11% as it raised its full-year adjusted earnings guidance to a range of $5.45 to $5.60 per share, above the FactSet consensus of $5.47. UnitedHealth rose 4% after reporting adjusted earnings of $6.38 per share on revenue of $112.03 billion, beating LSEG estimates, and hiked its full-year outlook. Taiwan Semiconductor Manufacturing shed 2% despite beating second-quarter earnings estimates, as it raised full-year capital expenditures to between $60 billion and $64 billion and announced an additional $100 billion investment in Arizona. AtaiBeckley jumped 33% after Eli Lilly agreed to buy the psychedelic drugmaker for $2.8 billion, or $6.75 per share in cash, with potential milestone payments of up to $2.50 per share. GE Aerospace dropped 4% even after beating second-quarter earnings and revenue estimates and raising full-year guidance. United Airlines fell more than 1% as softer-than-expected third-quarter guidance of $2.50 to $3.50 per share, below the FactSet estimate of $3.53, overshadowed an earnings beat. J.B. Hunt Transport Services jumped almost 7% after reporting earnings of $1.91 per share on revenue of $3.5 billion, exceeding FactSet estimates. Cintas gained 6.5% following a Bank of America upgrade to buy, while Cinemark and Imax fell about 4% and 2% respectively after Wells Fargo downgraded both to equal weight. AST SpaceMobile tumbled more than 16% on plans to offer $1 billion of convertible senior notes due 2034.
Clearmind Medicine reports positive retention results for intranasal MEAI formulation
Clearmind Medicine announced positive ex vivo mucoadhesion results for its intranasal formulation of MEAI, a psychedelic-based neuroplastogen. The study showed that the new formulation, which uses a nasal drug-delivery system, consistently maintained a greater proportion of its initially adhered dose on rabbit nasal mucosa over a 30-minute period compared with a standard MEAI solution. These results highlight the contribution of the mucoadhesive polymer system and validate Clearmind's nasal drug-delivery platform, which is designed to increase formulation residence at mucosal surfaces. Extended residence time is a key factor in effective intranasal drug administration, potentially improving absorption and therapeutic efficiency for Alcohol Use Disorder and other indications. Clearmind is a clinical-stage biotechnology company pioneering non‑hallucinogenic neuroplastogen‑derived treatments.
Psychedelic stocks surge after Eli Lilly agrees to acquire AtaiBeckley
Shares of psychedelic drug developers are surging premarket after Eli Lilly announced a definitive agreement to acquire AtaiBeckley Inc., validating the sector. AtaiBeckley shares rose 30.8%, Compass Pathways gained 7.4%, and GH Research jumped 18.9%. Lilly will pay $6.75 per share in cash, plus up to $2.50 per share via a Contingent Value Right tied to milestones for lead programs BPL-003 and VLS-01, implying an upfront equity value of about $2.8 billion and additional potential value of roughly $1.0 billion. The deal is expected to close in the third quarter. RBC Capital said GH Research represents the most direct read-through given its lead asset GH001 is nearly identical to AtaiBeckley's BPL-003, both based on 5-MeO-DMT for treatment-resistant depression, and maintained an Outperform rating with a $40 price target.
AtaiBeckley Joins Russell 2000 and 3000 Indices, Canaccord Raises Price Target to $17
AtaiBeckley N.V. will be added to the Russell 2000 and Russell 3000 indices effective June 29, a move the company notes is significant given over $12 trillion in assets benchmarked to Russell indexes. Canaccord Genuity subsequently raised its price target on the stock from $15 to $17 on July 7, implying more than 227% upside, while reiterating a Buy rating. The revision followed completion of dosing in the Phase 2 Elumina trial of VLS-01 for treatment-resistant depression, with the company targeting Phase 3 development for major depressive disorder and potential expansion into generalized anxiety disorder. AtaiBeckley is a clinical-stage biopharmaceutical company focused on mental health therapies, with a pipeline that includes BPL-003 in Phase 2 for treatment-resistant depression and alcohol addiction, and RL-007 for cognitive decline from schizophrenia.
Oppenheimer Reaffirms Outperform on COMPASS Pathways After Positive COMP360 Phase 3 Data
Oppenheimer reaffirmed its Outperform rating and $20 price target on COMPASS Pathways after the company reported 26-week results from Part B of its Phase 3 COMP006 study of COMP360 for treatment-resistant depression. The data showed sustained clinical benefits, with 39% of patients on the 25 mg dose achieving clinically meaningful improvement by Week 6 and benefits generally maintained through Week 26, along with a favorable safety profile. Oppenheimer stated the findings strengthen the regulatory outlook ahead of a planned NDA submission in the fourth quarter and reinforce the potential for the first FDA approval of a classical psychedelic therapy. The firm also believes the stock's commercial opportunity is not fully reflected in its current valuation ahead of a possible first-half 2027 launch.
AtaiBeckley Completes Dosing in Phase 2b Trial of VLS-01 for Depression
AtaiBeckley Inc. has completed patient dosing in its Phase 2b Elumina clinical trial evaluating VLS-01, a DMT buccal film, for treatment-resistant depression. The multi-center, double-blind, placebo-controlled study enrolled 156 participants, with topline results expected in the fourth quarter of 2026. The company plans to advance VLS-01 into Phase 3 development for major depressive disorder, while generalized anxiety disorder remains a potential future indication. Canaccord raised its price target on ATAI to $17 from $15 and maintained a Buy rating, noting the trial remains on track.
Canaccord Cuts Helus Pharma Price Target to $42, Maintains Buy Ahead of Phase 3 Trial Results
Canaccord analyst Sumant Kulkarni lowered the price target on Cybin D/B/A Helus Pharma to $42 from $45 while maintaining a Buy rating. The firm highlighted the lead candidate HLP003, a deuterated psilocin analog in a Phase 3 program for adjunctive treatment of major depressive disorder, with significant potential upside expected from the upcoming Phase 3 APPROACH trial results anticipated in the fourth quarter of 2026. Separately, on June 24, the company priced an underwritten public offering of 10,309,280 common shares at $4.85 each, generating approximately $50 million in gross proceeds to support ongoing operations and development programs.
Three Psychedelic Stocks With Potential Clinical Trial Catalysts
Optimi Health, AtaiBeckley, and COMPASS Pathways are three psychedelic medicine companies with upcoming clinical trial catalysts that could reshape their risk-reward profiles. Optimi Health, a Canadian manufacturer with a Health Canada-licensed GMP facility, is already shipping pharmaceutical-grade MDMA and psilocybin into Australia's reimbursed prescription market, though its revenue remains below CA$1 million. AtaiBeckley has multiple Phase 2 programs targeting treatment-resistant depression and social anxiety, with Phase IIb data expected in 2026 and potential progression to Phase 3 trials, but it faces widening losses and high funding risk. COMPASS Pathways is advancing its psilocybin therapy COMP360 in Phase III for treatment-resistant depression and plans to file a rolling NDA with the FDA, yet it remains pre-revenue with a history of shareholder dilution.
PharmAla Completes GMP Manufacture of ALA-002 Drug Substance
PharmAla Biotech Holdings has completed GMP production of the drug substance for its lead candidate ALA-002. The company plans to use the substance to advance ALA-002 through clinical activities worldwide and for commercialization in Australia via its subsidiary Cortexa, co-owned by Vitura Health. PharmAla focuses on developing MDXX class molecules, including MDMA, in highly titrated forms for treating neurobiological and mental disorders. The stock closed at $0.14 on the Canadian Stock Exchange, up 3.57%.
Compass gains on new late-stage trial data for psychedelic therapy in depression
Compass Pathways shares rose about 8% in early premarket trading after the company announced additional 26-week data from the Part B portion of its Phase 3 COMP006 trial for COMP360 in treatment-resistant depression. The results confirmed a rapid onset of action and durable clinical profile, with 39% of patients receiving two fixed 25 mg doses showing at least a 25% reduction in MADRS at Week 6, an effect maintained through at least 26 weeks. This compares to 25% of patients reaching that measure at Week 6 with a single dose in the COMP005 trial, suggesting a second dose may improve clinical benefit. No new safety events were reported, and the therapy continued to show a well-tolerated safety profile. An ongoing rolling submission for a new drug application is expected to conclude in the fourth quarter, with a potential launch in the first half of 2027 subject to FDA approval.
XTL BioPharma completes Psyga Bio acquisition, pivots to psychedelic therapies
XTL Biopharmaceuticals has completed its acquisition of Psyga Bio, making psychedelic operations its exclusive core business. XTL acquired 0.27 million shares of Psyga Bio, representing approximately 83.40% of Psyga's share capital on a fully diluted basis, through the issuance of American Depositary Shares that account for roughly 33.36% of XTL's capital post-issuance. Psyga Bio develops a pipeline of products based on psilocybin and other psychedelic substances targeting severe mental health disorders, and operates a licensed pharmaceutical manufacturing facility for clinical trials. Psyga's shareholders may receive up to an additional 25.02% of XTL's capital upon achieving three clinical and commercial milestones. XTL believes growing interest in psychedelic therapies presents significant market opportunities for the combined business.
CRISPR Therapeutics, Insilico Medicine, and Compass Pathways Join Healthcare Technology and Innovation Index
The Healthcare Technology and Innovation index added three companies during its quarterly rebalance on June 19: CRISPR Therapeutics, Insilico Medicine, and Compass Pathways. CRISPR Therapeutics co-developed CASGEVY, the only viable gene-editing cure for sickle cell disease and beta-thalassemia, and is advancing therapies for cardiovascular and autoimmune diseases. Insilico Medicine is the first pure-play AI drug discovery company in the index, generating 6 to 8 preclinical candidates annually and projecting $1,287MM in FY 2026 revenue. Compass Pathways joined following final large-scale trials of COMP360, a synthetic psilocybin treatment that provided three to six months of relief for treatment-resistant depression.