Eli Lilly acquires AtaiBeckley for $2.8B; Cathie Wood shifts to Compass Pathways

Published Jul 29, 09:20 AM UTC

Eli Lilly has agreed to acquire psychedelic drug developer AtaiBeckley for $2.8 billion upfront, with up to $1 billion in milestone payments, signaling major pharma interest in psychedelic medicine. The deal follows regulatory shifts, including an FDA executive order and finalized psychedelic drug guidance. Meanwhile, Cathie Wood's Ark Genomic Revolution ETF sold 1.1 million shares of AtaiBeckley and bought nearly 400,000 shares of Compass Pathways, which is developing COMP360, a psilocybin therapy for treatment-resistant depression. Compass has completed phase 3 trials meeting primary endpoints and plans to submit a rolling NDA by Q4 2026, aiming for launch readiness by year-end 2026. Wood's move suggests she sees Compass as a better bet due to its proximity to market approval.