Atai says its depression treatment failed in a mid-stage clinical trial

Shares of Atai Life Sciences NV
ATAI,
-30.80%
tumbled about 44% in premarket trading on Friday after the company said a Phase 2a clinical trial evaluating a ketamine therapy for treatment-resistant depression did not meet the primary endpoint. Atai’s stock has declined 60.1% over the past year, while the S&P 500
SPX,
+2.28%
is down 19.0%.