AwesomeStocks Hello! We wanted to briefly update our newest alert, ATAI. So far, ATAI is off to a nice start, rallying above yesterdayâs close. Following our alert this morning, ATAI opened today at 1.70 and has so far rallied to a high of 1.75. In the event that ATAI closes above todayâs open, this could be just the beginning of the renewed breakout. In the past, we have seen companies with a similar chart setup experience increased growth. Could that happen again? A few days ago, ATAI rallied to a high of 1.95, which is more than 14% from current levels. Furthermore, ATAI has been forming a potential base above its 50 day moving average, presenting a bullish breakout opportunity. In addition, ATAI has a RSI of 58, suggesting the opportunity for increased upside. ATAI has announced several accomplishments recently that could be upward catalysts for the companyâs growth. In early March, the company announced: âatai Life Sciences Announces Key Clinical Pipeline and Corporate Updatesâ Here are some of the companyâs comments from this press release: âThe dosing of the first patient in the phase 2b study of RL-007 in CIAS earlier this quarter exemplifies the execution capabilities of our team as we advance our programs into later-stage clinical studies,â said Florian Brand, CEO and Co-Founder of atai. âAlong these lines, we are excited to announce the updated clinical strategy for GRX-917. The compound will progress directly into a phase 2 study in patients living with an anxiety disorder to accelerate development and generate the robust clinical data needed to inform a potential future registration.â Furthermore: Mr. Brand continued, âAs part of our efforts to further focus our capital allocation towards generating meaningful clinical readouts in the near-term and to optimize our operational efficiency, we reduced our team by approximately 30%. I am grateful for the dedication of the team members impacted by this decision and their contributions towards our mission.â Most recently, the company announced: âatai Life Sciences Reports Fourth Quarter and Full Year 2022 Financial Results and Provides Clinical Pipeline Highlightsâ Here are some of the companyâs comments from this press release: âWith multiple clinical-stage programs aimed at addressing significant unmet patient needs in mental health and the capital to fund us into the first half of 2026, we believe we are in a strong position to advance our clinical candidates towards proof of concept in patients,â said Florian Brand, CEO and Co-Founder of atai. âRecently we announced dosing the first patient in our Phase 2 study of RL-007 in CIAS and the modification of the GRX-917 clinical development plan to advance directly into a proof-of-concept study in patients with anxiety.â âRL-007 is an orally available compound that modulates cholinergic, glutamatergic and GABA-B receptors, thereby putatively altering the excitatory/inhibitory balance in the brain to produce pro-cognitive effects.â Importantly, as the company explains with regards to âRL-007 (Pro-Cognitive Neuromodulator for Cognitive Impairment Associated with Schizophrenia (CIAS))â - âNotably, in four clinical studies that assessed cognition, including one in patients with CIAS, the compound consistently demonstrated pro-cognitive effects.â Furthermore: âIt has previously been evaluated in 10 clinical studies with over 500 unique participants dosed to-date and in which it was well tolerated at all doses tested.â As the company further explains, âSchizophrenia results in a life expectancy of approximately 20 years below that of the general populationâ. Sadly, âthere are currently no FDA-approved medications for CIAS, a major cause of disability in 80% of patients with schizophreniaâ. We are continuing to monitor this opportunity. Sources: [NAMI]( [Hopkins]( [Presentation]( [PR1]( [PR2]( [PR3]( [PR4]( [PR5]( [PR6]( [PR7]( [PR8]( [Website]( [Chart]( Happy Trading! AwesomeStocks Note: We encourage all traders and investors to develop personal trading rules that you can follow and that work for you. Always protect your downside and note that we alert extremely volatile short-term opportunities. Before investing in securities, you should always consult with your financial, tax and legal advisor and never invest money you cannot afford to lose. DISCLAIMER You should read and understand this disclaimer in its entirety before joining the website or email/blog list of AwesomeStocks.com (the âPublisherâ). 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