Beckley Psytech’s intranasal psychedelic treatment for treatment-resistant depression has met key endpoints in a Phase 2b trial, prompting a merger with Atai Life Sciences. The compound, mebufotenin (BPL-003), demonstrated significant symptom reduction relative to low-dose comparator, meeting primary and secondary outcomes without serious adverse effects. This success has generated renewed investor optimism in psychedelic therapeutics, contributing to rising interest in this class amidst a shifting regulatory climate with increased endorsement from U.S. health authorities.