Beckley Psytech and Atai Life Sciences announced positive Phase 2b data for intranasal mebufotenin (BPL-003), demonstrating significant symptom reductions in treatment-resistant depression versus control arms. These results have accelerated the planned merger of both companies, underscoring the growing momentum in psychedelic drug therapies for psychiatric conditions. Industry optimism is buoyed by regulatory openness and high-profile endorsements, although additional clinical validation and commercialization hurdles remain.