Atai Life Sciences (ATAI 14.96%), an ambitious biotech that targets mental health disorders, was a hot item among equity investors Tuesday. A most promising drugThat drug, tagged BPL-003 by Atai, is an antidepressant that was recently evaluated in an open-label phase 2a study. Further, a second, higher dose of BPL-003 produced continued reductions in the Montgomvery-Asberg Depression Rating Scale (MADRS), a gauge of the affliction's severity. In their press release discussing the results of the study, Atai and Beckley said they aim to advance the drug to phase 3 clinical testing. In July, Atai and Beckley revealed that a phase 2b trial of the treatment showed it produced efficacious and lasting results with only a single dose.