12 Best German Stocks to Buy According to Hedge Funds

6. Atai Life Sciences (NASDAQ:ATAI)

Number of Hedge Fund Holders: 14

Atai Life Sciences (NASDAQ:ATAI) is a clinical-stage biopharmaceutical company that develops innovative therapeutics for mental health disorders like depression, anxiety, and addiction. Its pipeline features compounds that range from psilocybin and MDMA derivatives to novel neuromodulators and formulations of established substances.

The company is focused on its BPL-003 program which is developed by Beckley Psytech, as a key driver for its growth in the treatment-resistant depression (TRD) market. BPL-003 is an intranasal formulation of mebufotenin benzoate that is designed for rapid and durable antidepressant effects. The Phase 2b clinical trial for its evaluation has completed enrollment of 196 patients across 38 sites in 6 countries, with topline results expected in mid-2025. This trial is assessing the efficacy and safety of single doses of BPL-003 against a sub-perceptual dose, with efficacy measured using the Montgomery-Asberg Depression Rating Scale (MADRS).

The Phase 2a study of BPL-003 demonstrated promising results and showed a 55% remission rate on Day 29 and a 45% remission rate on Day 85, with patients dischargeable in under two hours post-dose. Atai Life Sciences’ (NASDAQ:ATAI) financial position is strengthened by a recent equity offering that extends its operational runway into 2027.