Beckley Psytech and Atai Life Sciences reported positive Phase 2b trial results for BPL-003, an intranasal formulation of the psychedelic mebufotenin, significantly reducing symptoms in treatment-resistant depression patients. The drug met primary and key secondary endpoints, with reductions in MADRS scores exceeding expectations. This data has accelerated plans for the Atai-Beckley merger and reinvigorated interest in psychedelic therapies amid a favorable regulatory climate in the US.