Atai nasal spray hits mark in depression study

Atai Life Sciences (NASDAQ: ATAI) released encouraging preliminary results from a Phase 2a study of its depression treatment drug, BPL-003.

The company reported that a single dose of the intranasal drug, a synthetic form of the psychedelic compound 5-MeO-DMT, has shown a rapid and lasting antidepressant effect in individuals who have not responded to traditional treatments.

The study, which involved a small group of participants, found that nearly half of the patients experienced improvement in their depression symptoms, achieving clinical remission by the 12-week follow-up.

According to Atai, BPL-003 was well-received by patients, with no serious side effects reported. The most common adverse effects were minor and included nasal discomfort and headaches. The drug’s fast-acting nature, with effects dissipating in under two hours, suggests it could be administered within a clinical setting, which could provide a practical and quick treatment option for treatment-resistant depression.

“The positive data from the Phase 2a study is highly encouraging as we await the results of the larger Phase 2b study anticipated later this year,” CEO Florian Brand said in a statement. “With around half of TRD patients in remission three months after just a single dose of BPL-003 in this study, we are particularly excited about its antidepressant durability potential. The results indicate that BPL-003 could offer a scalable, single-dose administration within the two hour in-clinic treatment paradigm successfully established by Spravato.”

The firm said it will confirm the findings in a larger, more diverse patient population in the subsequent Phase 2b trial.