0000950170-25-071435 | 10-Q | XBRL Viewer

Leases (Tables)

3 Months Ended

Mar. 31, 2025

Components of expenses related to leases is recorded on a straight-line basis over the lease term

The following table summarizes lease costs by component for the three months ended March 31, 2025 and 2024 (in thousands):


		For the Three Months Ended March 31,
Lease Cost Components	Statement of Operations Classification	2025		2024
Operating lease cost	Operating expenses: General and administrative	$	100	$	121
Operating lease cost	Operating expenses: Research and Development		90		—
Short-term lease cost	Operating expenses: General and administrative		44		34
Total lease cost		$	234	$	155

Schedule of future minimum commitments maturity operating leases

Future minimum commitments under all non-cancelable operating leases are as follows (in thousands):


Year Ended
2025	$	393
2026		789
2027		836
2028		608
2029		502
Thereafter		604
Total lease payments	$	3,732
Less: Imputed interest		(858	)
Present value of lease liabilities	$	2,874

Schedule of supplemental cash flow information related to operating leases

Supplemental cash flow information related to the Company’s operating leases for the three months ended March 31, 2025 and 2024 are as follows (in thousands):


	March 31, 2025		December 31, 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	137	$	436
Right-of-use assets obtained in exchange for new operating lease liabilities	$	1,709	$	—

Property and Equipment

3 Months Ended

Mar. 31, 2025

Property, Plant and Equipment [Abstract]

Property and Equipment

10. Property and Equipment

Property and equipment consisted of the following (in thousands):


	March 31, 2025		December 31, 2024
Manufacturing equipment	$	1,572	$	1,572
Furniture and fixtures		973		973
Laboratory and office equipment		236		236
Computer equipment		152		152
Construction-in-process		267		—
	$	3,200	$	2,933
Less: accumulated depreciation and amortization		518		398
Total	$	2,682	$	2,535

As of March 31, 2025, substantially all of the Company’s in use manufacturing equipment, laboratory and office equipment, computer equipment, and construction-in-process were located in Canada and were comprised of assets acquired in connection with the Company's acquisition of IGX. The Company had $1.0 million of manufacturing equipment not in service located in Germany also acquired in connection with the Company's acquisition of IGX. As of March 31, 2025 and December 31, 2024, approximately $0.7 million and $0.7 million of the Company's remaining property and equipment was located in Germany, respectively, and $0.1 million and $0.1 million in the U.S, respectively.

For the three months ended March 31, 2025 and 2024, depreciation and amortization expense on property and equipment was $0.1 million and an immaterial amount, respectively.

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	$ 3,200	$ 2,933
Less: accumulated depreciation and amortization	518	398
Total	2,682	2,535
Manufacturing equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	1,572	1,572
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	973	973
Laboratory and office equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	236	236
Computer equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	152	152
Construction-in-process
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	$ 267	$ 0

Variable Interest Entities

3 Months Ended

Mar. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entities

5. Variable Interest Entities

Consolidated VIEs

At each reporting period, the Company reassesses whether it remains the primary beneficiary for Variable Interest Entities (“VIEs”) consolidated under the VIE model.

The entities consolidated by the Company are comprised of wholly and partially owned entities for which the Company is the primary beneficiary under the VIE model as the Company has (i) the power to direct the activities that most significantly impact the VIE’s economic performance and (ii) the obligation to absorb losses that could potentially be significant to the VIE, or the right to receive benefits from the VIE that could potentially be significant to the VIE. The results of operations of the consolidated entities are included within the Company’s unaudited condensed consolidated financial statements from the date of acquisition to March 31, 2025.

As of March 31, 2025 and December 31, 2024, the Company has accounted for the following consolidated investments as VIEs, excluding the wholly owned subsidiaries:


Consolidated Entities	Relationship as of March, 31, 2025	Relationship as of December 31, 2024	Date Control Obtained	Ownership % March 31, 2025	Ownership % December 31, 2024
Perception Neuroscience Holdings, Inc.	Controlled VIE	Controlled VIE	November 2018	59.2%	59.2%
Recognify Life Sciences, Inc.	Controlled VIE	Controlled VIE	November 2020	51.9%	51.9%

As of March 31, 2025 and December 31, 2024, the assets of the consolidated VIEs can only be used to settle the obligations of the respective VIEs. The liabilities of the consolidated VIEs are obligations of the respective VIEs and their creditors have no recourse to the general credit or assets of atai.

Consolidated VIE Balance Sheets

The following table presents the assets and liabilities (excluding intercompany balances that were eliminated in consolidation) for all VIEs as of March 31, 2025 (in thousands):


	Perception		Recognify
Assets:
Current assets:
Cash	$	171	$	1,874
Accounts receivable		—		—
Prepaid expenses and other current assets		88		42
Total current assets		259		1,916
Total assets	$	259	$	1,916
Liabilities:
Current liabilities:
Accounts payable	$	534	$	498
Accrued liabilities		57		940
Other current liabilities		18		1
Total current liabilities		609		1,439
Total liabilities	$	609	$	1,439

The following table presents the assets and liabilities (excluding intercompany balances that were eliminated in consolidation) for all consolidated VIEs as of December 31, 2024 (in thousands):


	Perception		Recognify
Assets:
Current assets:
Cash	$	31	$	819
Accounts receivable		261		—
Prepaid expenses and other current assets		88		40
Total current assets		380		859
Total assets	$	380	$	859
Liabilities:
Current liabilities:
Accounts payable	$	276	$	221
Accrued liabilities		195		961
Other current liabilities		83		4
Total current liabilities		554		1,186
Total liabilities	$	554	$	1,186

Noncontrolling Interests

The Company recognizes noncontrolling interests related to its consolidated VIEs and provides a roll forward of the noncontrolling interests balance, as follows (in thousands):


	Perception
Balance as of December 31, 2024	$	257
Net loss attributable to noncontrolling interests - preferred		(34	)
Comprehensive income attributable to noncontrolling interests		(2	)
Balance as of March 31, 2025	$	221


	Perception			Kures			Recognify			Total
Balance as of December 31, 2023	$	428		$	369		$	557		$	1,354
Net loss attributable to noncontrolling interests - preferred		(100	)		(25	)		(539	)		(665	)
Comprehensive loss attributable to noncontrolling interests		17			7			—			24
Balance as of March 31, 2024	$	345		$	350		$	18		$	713

Non-consolidated VIEs

The Company evaluated the nature of its investments in Innoplexus AG (“Innoplexus”) and Beckley Psytech Limited (collectively “non-consolidated VIEs”) and determined that the investments are VIEs as of the date of the Company’s initial investment through March 31, 2025. The Company is not the primary beneficiary of the non-consolidated VIEs as it did not have the power to direct the activities that most significantly impact the investments’ economic performance and therefore concluded that it did not have a controlling financial interest in each of the non-consolidated VIEs that would require consolidation as of March 31, 2025 and December 31, 2024.

The Company will reevaluate if the investments meet the definition of a VIE upon the occurrence of specific reconsideration events. The Company accounted for these investments under either the equity method, fair value option, or the measurement alternative included within ASC 321 (See Note 6). As of March 31, 2025 and December 31, 2024, the Company’s maximum exposure for its non-consolidated VIEs was $10.0 million, respectively, of Short-term restricted cash for the purchase of Beckley Deferred Shares (as defined and described in Note 6).

Intangible Assets, Goodwill, and Digital Assets

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets, Goodwill, and Digital Assets

11. Intangible Assets, Goodwill, and Digital Assets

Intangible Assets

Definite-lived Intangible Assets

In connection with the Company’s acquisition of IGX (see Note 4 above), the Company acquired ownership and intellectual property rights to IGX’s Oral Thin Film (“OTF”) platform technology. This platform technology serves as the foundation and platform to deliver active pharmaceutical ingredients for both the Company’s and other potential customer products. Collectively, the OTF Technologies will serve as a platform for both the Company's and other potential customers' own products. The Company determined there to be legal and competitive factors that limit the useful life of these OTF Technologies and therefore designated them as a definite-lived intangible asset.

In addition, the Company acquired a manufacturing contract with regards to IGX's right to manufacture gBelBuca, a generic version of Belbuca®, an opioid that is used to manage chronic pain severe enough to require daily, around-the-clock, long-term treatment. This manufacturing contract includes potential future royalty and milestone payments, for which the Company is now eligible to receive.

In accordance with the acquisition method of accounting, the Company allocated the acquisition cost for the transaction to the underlying assets acquired and liabilities assumed, based upon the estimated fair values of those assets and liabilities at the date of acquisition. The value allocated to the OTF Technology was $2.4 million, which will be amortized over the remaining estimated useful life of approximately 10 years. The value allocated to the gBelBuca contract was $0.2 million, which will be amortized over the estimated remaining useful life of approximately 19 years.

In addition to the definite-lived intangible assets above, the Company's definite-lived intangible assets also includes $0.6 million of internal-use software costs, which will be amortized over the estimated remaining useful life of approximately 2 years.

Indefinite-lived Intangible Assets

As of March 31, 2025, the Company owned various intellectual property, including clinical trial data from previously consolidated or wholly-owned subsidiaries and other intangible assets. The Company has designated each of these intangible assets to be indefinite-lived as there are no characteristics that limit each asset's useful life.

In December 31, 2024, the Company determined they were no longer pursuing digital therapeutics as an enabling technology for their product compounds. The Company performed an impairment assessment and concluded their in-process digital therapeutics application platforms were fully impaired. The carrying value of these indefinite-lived intangible assets prior to the Company's assessment was $0.9 million.

The Company continually evaluates whether events or circumstances have occurred that indicate that the carrying value of the intangible assets may be impaired or that the estimated remaining useful lives of these assets may warrant revision. As of March 31, 2025, the Company determined that no intangible assets were impaired and that there are no facts or circumstances that would indicate a need for changing the estimated remaining useful lives of these assets.

Intangible assets consisted of the following (in thousands):


		March 31, 2025							December 31, 2024
	Remaining Useful Lives	Cost		Accumulated Amortization			Net Carrying Amount		Cost		Accumulated Amortization			Impairment			Net Carrying Amount
OTF Technology	10 years	$	2,433	$	(113	)	$	2,320	$	2,433	$	(57	)	$	—		$	2,376
gBelBuca manufacturing contract	19 years		192		(5	)		187		192		(2	)		—			190
Internal-use software	2 years		647		(496	)		151		647		(466	)		—			181
In-process research and development	indefinite-lived		142		—			142		1,059		—			(917	)		142
Other	various		368		(11	)		357		368		(11	)		—			357
Total		$	3,782	$	(625	)	$	3,157	$	4,698	$	(536	)	$	(917	)	$	3,246

For the three months ended March 31, 2025 and 2024, amortization expense related to these intangible assets was $0.1 million and zero, respectively.

Estimated future amortization expense for intangible assets subsequent to March 31, 2025 is as follows (in thousands):



2025	$	323
2026		289
2027		249
2028		249
2029		249
Thereafter		1,299
	$	2,658

The weighted average remaining useful lives of all amortizable assets is approximately 9.8 years.

Goodwill

In connection with the Company's acquisition of IGX (see Note 4 above), the Company also recognized $0.3 million in goodwill, which was the difference between the amount of consideration associated with the transaction in excess of the fair value of net assets acquired. The goodwill is primarily attributable to the synergies of merging operations, expected future cash flows and the value of the acquired workforce. As of March 31, 2025 and December 31, 2024, the balance of goodwill was approximately $0.3 million, which is recorded as Goodwill on the Company's unaudited condensed consolidated balance sheets.

Digital Assets

During the three months ended March 31, 2025, the Company paid approximately $5.0 million in cash in return for approximately 58 Bitcoins. As of March 31, 2025, the Company's holdings in digital assets consisted exclusively of Bitcoin.

Under ASC 350-60, the Company’s digital assets are measured at fair value based on quoted prices on active exchanges, and are therefore categorized as Level 1 investments in the fair value hierarchy. The Company recognizes changes in the fair value of its digital assets as gains or losses in Change in fair value of digital assets on the Company's unaudited condensed consolidated statements of operations during the period in which they occur.

The details of the activity related to the Company’s digital assets as of March 31, 2025 and December 31, 2024, are as follows (fair value in thousands):


	Units		Fair Value
Digital assets at December 31, 2024		—	$	—
Additions		58.0		5,000
Unrealized loss		—		(212	)
Digital assets at March 31, 2025		58.0	$	4,788

Variable Interest Entities - Additional information (Detail) - USD ($) $ in Millions	Mar. 31, 2025	Dec. 31, 2024
Variable Interest Entity [Line Items]
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	$ 10.0	$ 10.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Fair Value Measurement - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended		12 Months Ended
	Oct. 31, 2023	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024	Apr. 30, 2024	Nov. 30, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Volatility		100.00%		75.00%
Change in fair value of assets and liabilities, net		$ 0.5	$ 1.3
ATAI LIFE SCIENCES N.V. [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, UnobservablE		0.1	1.7
Debt conversion price					$ 17	$ 17
Digital Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of assets and liabilities, net		0.2
Compass Pathways Plc [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of assets and liabilities, net		6.3	4.1
DemeRx [Member] \| Stock Purchase And Framework Agreement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business combination, earn-out consideration	$ 8.0
Fair value of the contingent milestone and royalty liabilities		0.2		$ 0.2
IntelGenx [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, UnobservablE			1.4
Beckley Psytech Limited [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain and immaterial amount		0.5	$ 0.5
Royalty Liabilities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of the contingent milestone and royalty liabilities		$ 0.1		$ 0.1

Subsequent Events

3 Months Ended

Mar. 31, 2025

Subsequent Events [Abstract]

Subsequent Events

25. Subsequent Events

Beckley Escrow Drawdown

On April 1, 2025, pursuant to the terms of the Escrow Agreement, Beckley Psytech, at its sole discretion, drew $10.0 million from the escrow account and the Company was credited 6,024,096 Series C shares.

Hercules Payoff

On May 2, 2025, the Company and Hercules entered into a payoff letter for a voluntary prepayment with respect to the Hercules Loan Agreement (the “Payoff Letter”). Pursuant to the Payoff Letter, on May 2, 2025 (the “Payoff Date”), the Borrower paid off the outstanding loan amount of approximately $21.8 million in full in repayment of the Company’s outstanding obligations under the Hercules Loan Agreement, and thereby terminated the Hercules Loan Agreement. Due to the early prepayment, the Borrower incurred a prepayment fee equal to 0.50% of the outstanding principal balance for a total of $0.1 million, which was offset by a savings of approximately $2.1 million of interest due under the full amortization payment schedule.

Notes Receivable - Additional Information (Detail)		3 Months Ended		12 Months Ended
Notes Receivable - Additional Information (Detail)	Sep. 14, 2021 USD ($)	Mar. 31, 2025 USD ($) $ / shares	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Mar. 31, 2025 € / shares	Mar. 31, 2025 USD ($) $ / shares	Dec. 31, 2024 € / shares	Dec. 31, 2024 USD ($) $ / shares	Sep. 30, 2023 USD ($)	Mar. 08, 2021 USD ($)
Notes Receivable [Line Items]
Change in fair value of assets and liabilities, net		$ (5,497,000)	$ (1,200,000)
Secured debt		$ 2,300,000	2,200,000
Equity method investment, Shares transaction date		Dec. 31, 2026
Change in fair value of assets and liabilities, net		$ 500,000	1,300,000
Issuance of common shares		$ 59,117,000
Other Investments held at fair value						$ 23,053,000		$ 28,887,000
Issuance of common stock shares par value \| (per share)					€ 0.1	$ 0.11	€ 0.1	$ 0.1
Loans Receivable [Member]
Notes Receivable [Line Items]
Receivables, Maturity description		The Original Loan Agreement was amended in September 2021, which, among other things, increased the principal amount of loans available to IntelGenx by $6.0 million, for a total of up to $8.5 million. In August 2023, the Company and IntelGenx entered into the first amendment to the amended and restated loan agreement (the "First Amendment") which, among other things, extended the maturity date from January 5, 2024 to January 5, 2025.
Common Stock [Member]
Notes Receivable [Line Items]
Issuance of common shares		$ 3,151,000
IntelGenx Corp [Member]
Notes Receivable [Line Items]
Change in fair value of assets and liabilities, net			1,700,000
IntelGenx [Member] \| March Term Loan Receivable [Member]
Notes Receivable [Line Items]
Receivable, Face amount										$ 2,000,000
IntelGenx [Member] \| Additional Term Loan Receivable [Member]
Notes Receivable [Line Items]
Receivable, Face amount										$ 500,000
IntelGenx [Member] \| Additional Term Loan Receivable [Member] \| First Tranche [Member]
Notes Receivable [Line Items]
Receivable, Face amount			1,000,000
IntelGenx [Member] \| Additional Term Loan Receivable [Member] \| Second Tranche [Member]
Notes Receivable [Line Items]
Receivable, Face amount			$ 1,000,000
IntelGenx [Member] \| Term Loan Receivable [Member]
Notes Receivable [Line Items]
Receivable, Face amount	$ 8,500,000
Conversion Price									$ 185
IntelGenx [Member] \| Term Loan Receivable [Member] \| Amended and Restated Loan Agreement [Member]
Notes Receivable [Line Items]
Loan agreement	$ 6,000,000
IntelGenx [Member] \| Two Thousand Twenty Three Term Loan Note [Member]
Notes Receivable [Line Items]
Receivable, Face amount				$ 500,000
Loans receivable, Fixed interest rate				14.00%
IntelGenx [Member] \| 2024 Warrants [Member] \| Additional Term Loan Receivable [Member]
Notes Receivable [Line Items]
Issuance of common shares		$ 4,000,000
Warrant exercise price \| $ / shares		$ 0.17

Debt (Tables)

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Schedule of Outstanding debt obligations

Outstanding debt obligations are as follows (in thousands):



	March 31, 2025			December 31, 2024
Principal amount	$	20,000		$	20,000
End of the term charge		1,390			1,390
Less: unamortized issuance discount		(100	)		(123	)
Less: unamortized issuance costs		(41	)		(51	)
Less: unamortized end of term charge		(583	)		(709	)
Net carrying amount		20,666			20,507
Less: current maturities		(11,366	)		(6,374	)
Long-term debt, net of current maturities and unamortized debt discount and issuance costs	$	9,300		$	14,133

Common Stock - Additional Information (Detail) - Common Stock [Member] $ / shares in Units, $ in Millions	1 Months Ended		3 Months Ended
	Feb. 28, 2025 USD ($) $ / shares shares	Nov. 30, 2022 USD ($)	Mar. 31, 2025 USD ($) shares	Mar. 31, 2024 USD ($)	Nov. 30, 2022 € / shares
Class of Stock [Line Items]
Sale of stock issue price per share \| (per share)	$ 2.1				€ 0.1
Proceeds from Issuance of Common Stock \| $			$ 4.1
Common shares public offering	26,190,477		30,119,048
Proceeds from issuance of IPO \| $	$ 59.1	$ 150.0	$ 0.0	$ 0.0
Option Exercisable [Member]
Class of Stock [Line Items]
Additional common shares public offering price	3,928,571
Additional Common Shares Exercised Option	3,928,571

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
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-Subparagraph (SX 210.6-03(i)(2)(i))
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-URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3

+ Details

Income Taxes

3 Months Ended

Mar. 31, 2025

Income Tax Disclosure [Abstract]

Income Taxes

17. Income Taxes

The Company records its quarterly income tax expense by utilizing an estimated annual effective tax rate applied to its period to date earnings as adjusted for any discrete items arising during the quarter. The tax effects for discrete items are recorded in the period in which they occur. The Company recorded an immaterial amount of income tax expense for both the three months ended March 31, 2025 and 2024, respectively. The income tax expense recorded for the three months ended March 31, 2025 was primarily driven by tax expense of subsidiaries in the United States and the United Kingdom. The primary difference between the effective tax rate and the statutory tax rate relates to the income tax treatment of stock compensation expense, which impacts the current and overall tax expense due to the applicable valuation allowance. The Company continues to maintain a full valuation allowance against its deferred tax assets.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Organization and Description of Business

3 Months Ended

Mar. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Description of Business

1. Organization and Description of Business

ATAI Life Sciences N.V. (“atai”, "Company"), headquartered in Berlin, Germany is the parent company of ATAI Life Sciences AG and, along with its subsidiaries, is a clinical-stage biopharmaceutical company aiming to transform the treatment of mental health disorders. Founded in 2018, atai emerged from the urgent need for better mental health solutions for patients who are under-served by current treatment options. The Company is advancing a pipeline of interventional psychiatric product candidates designed to address the complex nature of mental health disorders. The Company believes that these investigational compounds have the potential to become fast-acting, durable, and commercially scalable therapies for mental health patients in need of new treatment options.

The Company's research is focused on developing rapid-acting, effective and durable mental health treatments that can deliver large-scale patient impact. The Company is committed to leading a new era of mental health treatment – one that not only offers relief from symptoms, but the possibility of an improved quality of life and lasting change. The Company pursues this in two ways: the Company develops novel product candidates in-house and the Company makes strategic investments in companies developing promising product candidates.

The Company has built a diversified pipeline of drug and discovery development programs, including psychedelic and nonpsychedelic compounds. Psychedelics are emerging as novel therapies for mental health disorders, such as depression and, with growing scientific support, recent regulatory advancements and increasing patient and physician acceptance. There is a growing body of clinical evidence that supports the development of psychedelics, which the Company believes may have potential therapeutic benefits, such as a rapid onset of effect and sustained efficacy after a short-course of administration. The Company believes these programs, which include new molecular entities as well as variants of known compounds with unique pharmacology, have the potential to address unmet needs in mental health disorders.

These programs vary across stage of development, targeted indication and proposed mechanism of action, which the Company believes will improve the commercial potential and risk profile of our pipeline in the aggregate. The Company also prioritizes the development of, and investments in companies who are developing, compounds and compound classes that have shown potential for efficacy and safety in prior clinical trials or observational studies.

The Company is subject to risks and uncertainties common to clinical stage companies in the biotechnology industry, including, but not limited to, development by competitors of new technological innovations, dependence on key personnel, third-party clinical research organizations and manufacturers, protection of proprietary intellectual property and technology, compliance with government regulations and the ability to secure additional capital to fund operations. Therapeutic candidates currently under development will require significant additional research and development ("R&D") efforts, including preclinical and clinical testing and regulatory approval, prior to commercialization. These efforts require significant amounts of capital, adequate personnel and infrastructure and extensive compliance-reporting capabilities. Even if the Company’s therapeutic development efforts are successful, it is uncertain when, if ever, the Company will realize revenue from sales.

IntelGenx Corp. Acquisition

In October 2024, the Company acquired all of the issued and outstanding shares of IntelGenx Corp. (“IGX”), a subsidiary of IntelGenx Technologies Corp. (“IntelGenx”). IntelGenx is a drug delivery company focused on the development and manufacturing of novel oral thin film products for the pharmaceutical market and for the Company's product candidates, VLS-01. The acquisition was structured as a credit bid, whereby the Company agreed that its senior secured debt in IGX was discharged in exchange for IGX shares. No Company equity or cash was exchanged in connection with this transaction.

Liquidity and Going Concern

The Company has incurred significant losses and negative cash flows from operations since its inception. As of March 31, 2025, the Company had cash and cash equivalents of $48.3 million, restricted cash of $10.0 million, and short-term securities of $49.9 million and its accumulated deficit was $726.6 million. The Company has historically financed its operations through the sale of equity securities, debt financings, sale of convertible notes and revenue generated from licensing and collaboration arrangements. The Company has not generated any revenues to date from the sale of its core psychedelic product candidates or non-psychedelic product candidates and does not anticipate generating any revenues from the sale of either unless and until it successfully completes development and obtains regulatory approval to market its product candidates. The Company recognizes revenue from license and research and development arrangements through IGX.

The Company currently expects that its existing cash and cash equivalents and short-term securities as of March 31, 2025 will be sufficient to fund its operating expenses and capital expenditure requirements for at least the next 12 months from the date the unaudited condensed consolidated financial statements are issued.

Investments - (Additional Information) (Details) $ / shares in Units, $ in Thousands			1 Months Ended			3 Months Ended		12 Months Ended
	Jan. 18, 2024 USD ($)	Jan. 05, 2024 USD ($) $ / shares shares	Oct. 31, 2024 USD ($) shares	May 31, 2024 USD ($) shares	Feb. 28, 2021 USD ($)	Mar. 31, 2025 USD ($) shares	Mar. 31, 2024 USD ($) shares	Dec. 31, 2024 USD ($) shares	Feb. 28, 2025 $ / shares	Jan. 18, 2024 € / shares	Jan. 18, 2024 USD ($) $ / shares shares	Jan. 03, 2024 € / shares	Jan. 03, 2024 USD ($) $ / shares shares	Dec. 31, 2023 shares	Nov. 30, 2022 € / shares	Dec. 31, 2020 USD ($)
Cash and Cash Equivalents [Line Items]
Proceeds from Issuance of Secured Debt						$ 2,300	$ 2,200
Other current liabilities						2,335		$ 2,647
Other Investments held at fair value						$ 23,053		28,887
Equity method investment, Shares transaction date						Dec. 31, 2026
Losses from investments in equity method investees, net of tax						$ 0	(1,701)
Fair Value, Option, Changes in Fair Value, Gain (Loss)						500	$ 1,300
Equity method investment, Investee shares sold						9,600
Call Option Units [Member]
Cash and Cash Equivalents [Line Items]
Other Investments						$ 0		$ 0
Common Stock [Member]
Cash and Cash Equivalents [Line Items]
Sale of stock issue price per share \| (per share)									$ 2.1						€ 0.1
Shares, Outstanding \| shares						199,775,512	166,274,426	167,959,752						166,026,396
Additional Warrants [Member]
Cash and Cash Equivalents [Line Items]
Other Investments held at fair value				$ 2,600
Beckley Psytech Limited [Member] \| Warrant [Member]
Cash and Cash Equivalents [Line Items]
Purchase of Warrants \| shares				4,393,400
Beckley Psytech Limited [Member] \| Deferred Shares [Member]
Cash and Cash Equivalents [Line Items]
Deposited to an escrow account		$ 15,000
Draw down amount from escrow account		$ 5,000
Sale of stock issue price per share \| $ / shares		$ 1.66
Other current liabilities						$ 1,900
Deferred Payment shares \| shares		9,036,144
Warrants at fair value			$ 5,300
Short term restricted cash for other investments						10,000
Beckley Psytech Limited [Member] \| Series C Shares [Member]
Cash and Cash Equivalents [Line Items]
Exercise price, warrants \| $ / shares													$ 2.158
Beckley Psytech Limited [Member] \| Series C Shares [Member] \| Maximum [Member]
Cash and Cash Equivalents [Line Items]
Purchase of Warrants \| shares													24,096,385
Beckley Psytech Limited [Member] \| Series C Shares [Member] \| Warrant [Member]
Cash and Cash Equivalents [Line Items]
Purchase of Warrants \| shares													24,096,385
GABA Therapeutics Inc [Member]
Cash and Cash Equivalents [Line Items]
Equity Method Investments						0										$ 0
Investment In Preferred Stock						0	$ 0
Losses from investments in equity method investees, net of tax						0	1,700
GABA Therapeutics Inc [Member] \| Common Stock [Member]
Cash and Cash Equivalents [Line Items]
Investment In Preferred Stock						$ 5,500
Innoplexus AG [Member]
Cash and Cash Equivalents [Line Items]
Equity method investment, ownership percentage						35.00%										35.00%
Share Purchase Deed [Member] \| Beckley Psytech Limited [Member] \| Series C Preferred Shares [Member]
Cash and Cash Equivalents [Line Items]
Investment Owned, Balance, Shares \| shares													11,153,246
Secondary Sale [Member] \| Beckley Psytech Limited [Member]
Cash and Cash Equivalents [Line Items]
Warrants at fair value	$ 35,300
Secondary Sale [Member] \| Beckley Psytech Limited [Member] \| Deferred Shares [Member]
Cash and Cash Equivalents [Line Items]
Sale of stock issue price per share \| $ / shares											$ 1.66
Secondary Sale [Member] \| Beckley Psytech Limited [Member] \| Series C Shares [Member]
Cash and Cash Equivalents [Line Items]
Sale of stock issue price per share \| (per share)										€ 0.0001	$ 0.8966
Other Investments held at fair value											$ 2,600
Investment Measured At Fair Value Using Fair Value Option											35,300
Equity Method Investment, Aggregate Cost											$ 10,000
Investment Owned, Balance, Shares \| shares											11,153,246
Secondary Sale [Member] \| Beckley Psytech Limited [Member] \| Series C Shares [Member] \| Deferred Shares [Member]
Cash and Cash Equivalents [Line Items]
Other current liabilities											$ 2,900
Beckley Psytech Escrow Agreement [Member]
Cash and Cash Equivalents [Line Items]
Drewings From Escrow Account			$ 5,000
Beckley Psytech Escrow Agreement [Member] \| Series Stock [Member]
Cash and Cash Equivalents [Line Items]
Sale of Stock, Number of Shares Issued in Transaction \| shares			3,012,048
Escrow Agreement [Member] \| Beckley Psytech Limited [Member] \| Series C Shares [Member]
Cash and Cash Equivalents [Line Items]
Payment made for purchase of shares													$ 25,000
Exercise price, warrants \| $ / shares													$ 1.66
Investment Owned, Balance, Shares \| shares													15,060,241
Subscription And Shareholders Agreement [Member]
Cash and Cash Equivalents [Line Items]
Increase (Decrease) in Derivative Assets and Liabilities						$ 500	500
Subscription And Shareholders Agreement [Member] \| Warrant [Member]
Cash and Cash Equivalents [Line Items]
Warrants at fair value				$ 1,500		3,300		$ 2,800
Subscription And Shareholders Agreement [Member] \| Beckley Psytech Limited [Member] \| Series C Preferred Shares [Member]
Cash and Cash Equivalents [Line Items]
Sale of stock issue price per share \| € / shares												€ 0.0001
Equity Method Investment, Aggregate Cost													$ 40,000
Investment Owned, Balance, Shares \| shares													24,096,385
Amended GABA PSPA \| GABA Therapeutics Inc [Member] \| Series A Preferred Stock [Member] \| Common Stock [Member]
Cash and Cash Equivalents [Line Items]
Equity Method Investments						900
Innoplexus SPA [Member]
Cash and Cash Equivalents [Line Items]
Equity method investment, Investee shares sold					$ 2,400
Innoplexus SPA [Member] \| Innoplexus AG [Member]
Cash and Cash Equivalents [Line Items]
Equity method investment, Proceeds						22,300
IntelGenx [Member] \| Strategic Development Agreement [Member]
Cash and Cash Equivalents [Line Items]
Research & development expense						100
Credit received						$ 2,500
Fair Value, Option, Changes in Fair Value, Gain (Loss)							$ 1,400

Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2025

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of Share-Based Payment Arrangement, Option, Activity

The following is a summary of stock option activity from December 31, 2024 to March 31, 2025:


	Number of Options				Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value (thousands)
Outstanding as of December 31, 2024		40,042,922			$	3.81		7.29	$	5,119
Granted		9,345,259		(i)		1.55		—		—
Exercised		(627,655	)			0.63		—		—
Cancelled or forfeited		(3,330,628	)			4.65		—		—
Outstanding as of March 31, 2025		45,429,898		(ii)	$	3.32		7.65	$	4,908
Options exercisable as of March 31, 2025		24,143,992			$	4.42		6.52	$	4,359

(i)

Includes (a) 5,502,859 stock options granted in March 2025 with 25% vesting on January 1, 2026 and the remaining over a three-year service period and (b) 3,842,400 stock options that will vest over a four-year service period.

(ii)

The 21,285,906 outstanding unvested stock options includes (a) 13,674,299 stock options that will continue to vest over a one to four-year service period, (b) 5,502,859 stock options granted in March 2025 with 25% vesting on January 1, 2026 and the remaining over a three-year service period (c) 1,016,094 stock options that will vest upon the satisfaction of specified market-based conditions tied to the price of the Company's publicly traded shares, and (d) 992,654 stock options that will continue to vest over a three to four-year service period and upon the satisfaction of specified performance-based vesting conditions, and (e) 100,000 stock options that will continue to vest over a two-year service period and upon the satisfaction of specified market-based conditions tied to the price of the Company's publicly traded shares.

Summary of Employee Stock Ownership Plan (ESOP) Disclosures

The following is a summary of stock option activity under the HSOP Plan from December 31, 2024 to March 31, 2025:


	Number of Options		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value (thousands)
Outstanding as of December 31, 2024		6,921,829	$	6.64		11.01	$	—
Granted		—		—		—		—
Exercised		—		—		—		—
Cancelled or forfeited		—		—		—		—
Outstanding as of March 31, 2025		6,921,829	$	6.64		10.76	$	—
Options exercisable as of March 31, 2025		6,921,829	$	6.64		10.76	$	—

Shedule of Restricted Stock Unit Activity

The following is a summary of restricted stock unit activity from December 31, 2024 to March 31, 2025:


	Number of Restricted Stock Units		Weighted-Average Grant Date Fair Value
Unvested at December 31, 2024		719,557	$	1.18
Granted		—		—
Vested		719,557		1.18
Forfeited		—		—
Unvested at March 31, 2025		—		—

Share-Based Payment Arrangement, Expensed and Capitalized, Amount


	Three months ended March 31, 2025
	atai 2020 and 2021 Incentive Plans		Other Subsidiary Equity Plans		Total
Research and development	$	962	$	4	$	966
General and administrative		2,389		—	$	2,389
Total stock-based compensation expense	$	3,351	$	4	$	3,355

The following table summarizes the total stock-based compensation expense by function for the three months ended March 31, 2024, which includes expense related to stock options and restricted stock unit awards (in thousands):


	For the three months ended March 31, 2024
	atai 2020 and 2021 Incentive Plans		atai HSOP		Other Subsidiary Equity Plans		Total
Research and development	$	2,043	$	—	$	115	$	2,158
General and administrative		3,478		117		7	$	3,602
Total stock-based compensation expense	$	5,521	$	117	$	122	$	5,760

Two Thousand And Twenty Incentive Plan [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions

The Company estimates the fair value of each stock option using the Black-Scholes option-pricing model on the date of grant. During the three months ended March 31, 2025, the assumptions used in the Black-Scholes option pricing model were as follows:


	March 31,
	2025	2024
Weighted average expected term in years	6.01	5.98
Weighted average expected stock price volatility	99.8%	73.4%
Risk-free interest rate	3.97% - 4.47%	3.78% - 4.15%
Expected dividend yield	0%	0%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Basis of Presentation, Consolidation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2025
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and follow the requirements of the United States Securities and Exchange Commission (“SEC”) for interim financial reporting. Accordingly, these unaudited condensed consolidated financial statements do not include all of the information and disclosures required by U.S. GAAP for complete financial statements as certain footnotes or other financial information that are normally required by U.S. GAAP can be condensed or omitted. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on March 17, 2025. The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair statement of the Company’s financial position, its results of operations and comprehensive loss, and its cash flows for the periods presented. The results of operations for the three months ended March 31, 2025 are not necessarily indicative of the results to be expected for the year ending December 31, 2025 or for any other future annual or interim period. Any reference in these notes to applicable accounting guidance is meant to refer to the authoritative U.S. GAAP included in the Accounting Standards Codification (“ASC”), and Accounting Standards Update (“ASU”) issued by the Financial Accounting Standards Board (“FASB”). Consolidation The Company's unaudited condensed consolidated financial statements include the accounts of atai and its subsidiaries. All intercompany balances and transactions have been eliminated in the consolidation. The Company's policy is to consolidate all entities that it controls by ownership of a majority of the outstanding voting stock. In addition, entities that meet the definition of a variable interest entity (“VIE”) for which atai is the primary beneficiary are consolidated. The primary beneficiary is the party who has the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and who has an obligation to absorb losses of the entity or a right to receive benefits from the entity that could potentially be significant to the entity. For consolidated entities that are less than wholly-owned, the third-party’s holding of equity interest is presented as Noncontrolling interests in the Company's unaudited condensed consolidated balance sheets and unaudited condensed consolidated statements of stockholders' equity. The portion of net earnings attributable to the noncontrolling interests is presented as Net loss attributable to noncontrolling interests in the Company's unaudited condensed consolidated statements of operations. Ownership interests in entities over which the Company has significant influence, but not a controlling financial interest, are accounted for under either the alternative measurement under ASC Topic 321: Investments - Equity Securities ("ASC 321) or as an equity method investment. Investments eligible for the measurement alternative under ASC 321 are carried at its initial cost, with remeasurements to fair value upon impairment or upon a price change observed in an orderly transaction of the same or similar investment of the same issuer. For equity method investments where the Company has not elected the fair value option, it records gains (losses) from investments in equity method investees, net of tax, for its proportionate share of the underlying company’s net results until the investment balance is adjusted to zero. If the Company makes subsequent additional investments in that same company, it may record additional gains (losses) based on changes to its investment basis and also may record additional income (loss) in equity method investments. If the Company has elected the fair value option for an equity investment, the fair value of the investment will be recorded upon acquisition and any changes in fair value will be recorded as a component of other income (expense), net.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements ASU 2023-07 Segment Reporting: Improvements to Reportable Segment Disclosures In November 2023, the Financial Accounting Standard Board ("FASB") issued new guidance designed to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant expenses per segment. The guidance is effective for all fiscal years beginning after December 15, 2023, and for interim periods beginning after December 15, 2024. The new standard must be adopted on a retrospective basis and early adoption is permitted. The Company adopted this standard for fiscal year 2024, and applied the amendments retrospectively to all prior periods presented in the Company's unaudited condensed consolidated financial statements. Refer to Note 24 for more information. ASU 2023-08 Intangibles - Goodwill and Other - Crypto Assets In December 2023, the FASB issued ASU 2023-08, Accounting for and Disclosure of Crypto Assets, which is codified as ASC subtopic 350-60 ("ASC 350-60"). The new guidance is designed to streamline the accounting treatment of crypto assets. ASC 350-60 requires that an entity measure crypto assets at fair value with changes recognized in net income at each reporting period and present crypto assets separately from other intangible assets in the balance sheet and changes from the remeasurement of crypto assets separately from changes in the carrying amounts of other intangible assets in the income statement. The guidance is effective for annual periods beginning after December 15, 2024 and interim periods within annual periods beginning after December 15, 2024. The Company adopted ASC 350-60 as of January 1, 2025 resulting in certain expanded disclosures about its digital assets. Refer to Note 11 for more information.

Investments - COMPASS Pathways plc (Additional Information) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024	Aug. 31, 2023
Cash and Cash Equivalents [Line Items]
Change in fair value of other investments held at fair value	$ 0.5	$ 1.3
Compass Pathways Plc [Member]
Cash and Cash Equivalents [Line Items]
Change in fair value of other investments held at fair value	6.3	$ 4.1
Market value of the Company's ownership	$ 19.8		$ 26.1
COMPASS Pathways Plc Two [Member]
Cash and Cash Equivalents [Line Items]
Equity method investment, ownership percentage				15.40%

Stock-Based Compensation - Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions (Detail)	3 Months Ended		12 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average expected stock price volatility	100.00%		75.00%
Service And Performance Based Options [Member] \| Two Thousand And Twenty Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average expected term in years	6 years 3 days	5 years 11 months 23 days
Weighted average expected stock price volatility	99.80%	73.40%
Expected dividend yield	0.00%	0.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Debt - Additional Information (Detail) $ / shares in Units, $ in Thousands, € in Millions	1 Months Ended	3 Months Ended
	Apr. 30, 2024 USD ($) CommonStock $ / shares	Mar. 31, 2025 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2024 USD ($)	Aug. 14, 2024 USD ($)	May 26, 2023 USD ($)	Aug. 31, 2022 USD ($)	Nov. 30, 2018 EUR (€)	Nov. 30, 2018 USD ($) $ / shares
Debt Instrument [Line Items]
Convertible promissory notes issued		$ 20,000		$ 20,000
Fair value of the outstanding debt obligation		9,300		14,133
EmbeddedDerivativeGainLossOnEmbeddedDerivativeNet		$ 100	$ 1,700
Maturity date		Aug. 01, 2026
Debt Instrument, Convertible, Number of Equity Instruments \| CommonStock	16
Amortization of debt discount		$ 149	98
Principal amount		175,000
Maximum [Member]
Debt Instrument [Line Items]
Convertible promissory notes issued								€ 1.0	$ 1,200
ATAI LIFE SCIENCES N.V. [Member]
Debt Instrument [Line Items]
Debt conversion price \| $ / shares	$ 17								$ 17
Face value of convertible notes	$ 1								$ 1
2020 Convertible Note Agreement [Member]
Debt Instrument [Line Items]
Convertible promissory notes issued		1,900		1,200
Fair value of derivative liabilities				1,800
Carrying amount of convertible promissory note		1,200
Hercules Loan Agreement [Member]
Debt Instrument [Line Items]
Fair value of the outstanding debt obligation		21,300		$ 21,500
Interest expense		$ 100	$ 100
Line of credit						$ 30,000
Market capitalization daily basis					$ 550,000		$ 550,000
Loan agreement description		In addition, the financial covenant under the 2022 Term Loan Agreement requires that beginning on October 1, 2024, the Company shall maintain Qualified Cash in an amount no less than the sum of (1) 50% of the outstanding amount under the 2022 Term Loan Facility, and (2) the amount of the Borrowers’ and Subsidiary Guarantors’ accounts payable that have not been paid within 180 days from the invoice date of the relevant account payable, subject to certain exceptions; provided, upon the occurrence of certain conditions, the Company shall at all times maintain Qualified cash in an amount no less than the sum of (1) 70% of the outstanding amount under the 2022 Term Loan Facility, and (2) the amount of the Borrowers’ and Subsidiary Guarantors’ accounts payable that have not been paid within 180 days from the invoice date of the relevant account payable, subject to certain exceptions; provided, further, that the financial covenant shall not apply on any day that the Company's market capitalization is at least $550.0 million measured on a consecutive 10-business day period immediately prior to such date of measurement and tested on a daily basis.
Principal amount							$ 175,000
Hercules Loan Agreement [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Market capitalization daily basis						550,000
Hercules Loan Agreement [Member] \| Line of Credit Agreements [Member]
Debt Instrument [Line Items]
Line of credit						40,000
Hercules Loan Agreement [Member] \| Tranche 1 \| Line of Credit Agreements [Member]
Debt Instrument [Line Items]
Term loan advance					25,000
Hercules Loan Agreement [Member] \| Tranche 1B \| Line of Credit Agreements [Member]
Debt Instrument [Line Items]
Term loan advance					5,000	10,000
Hercules Loan Agreement [Member] \| Tranche 1C \| Line of Credit Agreements [Member]
Debt Instrument [Line Items]
Term loan advance						15,000
Hercules Loan Agreement [Member] \| Tranche 1D \| Line of Credit Agreements [Member]
Debt Instrument [Line Items]
Term loan advance						20,000
Hercules Loan Agreement [Member] \| Tranche 2 \| Line of Credit Agreements [Member]
Debt Instrument [Line Items]
Term loan advance					30,000	$ 15,000
Hercules Loan Agreement [Member] \| Tranche 3 \| Line of Credit Agreements [Member]
Debt Instrument [Line Items]
Term loan advance					$ 100,000

Leases - Components of expenses related to leases is recorded on a straight-line basis over the lease term (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Total lease cost	$ 234	$ 155
General and Administrative Expense [Member]
Operating lease cost	100	121
Short-term lease cost	44	34
Research and Development Expense [Member]
Operating lease cost	$ 90	$ 0

Corporate Restructuring

3 Months Ended

Mar. 31, 2025

Restructuring and Related Activities [Abstract]

Corporate Restructuring

23. Corporate Restructuring

2025 Restructuring

In March 2025, the Company eliminated approximately 25% of its global workforce as part of a restructuring initiative in order to reduce operational costs and extend the Company's cash runway.

Restructuring expense related to the workforce reduction was incurred primarily during the three months ended March 31, 2025, resulting in $1.1 million of restructuring expense, which consisted of $1.1 million of cash expenditures for severance and other employee separation-related costs and an immaterial amount of stock-based compensation expense. Of the restructuring expense, for the three months ended March 31, 2025, $0.4 million and $0.7 million were recorded in research and development expenses and general and administrative expenses, respectively, in the unaudited condensed consolidated statement of operations.

As of March 31, 2025, net restructuring liabilities totaled approximately $1.1 million, which are included in accrued expenses on the Company's unaudited condensed consolidated balance sheets.

2024 Restructuring

In February 2024, the Company eliminated approximately 10% of its global workforce in order to more effectively allocate its research and development and other resources supporting the revised business and program priorities and to reduce operational costs.

Restructuring expense related to the workforce reduction was incurred primarily during the three months ended March 31, 2024, resulting in $1.9 million of restructuring expense, which consisted of $1.5 million of cash expenditures for severance and other employee separation-related costs and $0.4 million of stock-based compensation expense. Of the restructuring expense, for the three months ended March 31, 2024, $0.3 million and $1.6 million were recorded in research and development expenses and general and administrative expenses, respectively, in the unaudited condensed consolidated statement of operations.

As of March 31, 2024, net restructuring liabilities totaled approximately $0.3 million included in accrued expenses on the Company's unaudited condensed consolidated balance sheets.

A reconciliation of the restructuring charges and related payments for the three months ended March 31, 2025 and 2024 is as follows (in thousands):


	As of March 31,
	2025			2024
Restructuring costs expensed during the period	$	1,098		$	1,925
Non-cash impact of stock-based compensation		(35	)		(358	)
Cash payments of restructuring liabilities, net		—			(1,237	)
Ending Restructuring liability	$	1,063		$	330

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2025	May 09, 2025
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2025
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Trading Symbol	ATAI
Title of 12(b) Security	Common shares, par value €0.10 per share
Security Exchange Name	NASDAQ
Entity Registrant Name	ATAI Life Sciences N.V.
Entity Central Index Key	0001840904
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Securities Act File Number	001-40493
Entity Incorporation, State or Country Code	P7
Document Transition Report	false
Entity Address, Address Line One	ATAI Life Sciences N.V.
Entity Address, Address Line Two	Wallstraße 16, 10179
Entity Address, City or Town	Berlin
City Area Code	49 89
Local Phone Number	2153 9035
Entity Address, Country	DE
Entity Address, Postal Zip Code	00000
Entity Tax Identification Number	00-0000000
Entity Common Stock, Shares Outstanding		200,337,609

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Weighted average grant-date fair value of options granted	$ 1.25	$ 1.23
Other Subsidiaries Equity Plan [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unrecognized stock based compensation compensation, Expected period of recognition	10 months 24 days
Share based compensation expenses	$ 0.1	$ 0.1
Restricted Stock [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unrecognized stock based compensation compensation	0.0
Fair Value Of Restricted Stock	0.8
Share based compensation expenses	$ 0.2	0.4
HSOP Plan[Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Shares reserved for future issuance	257,419
Unrecognized stock based compensation compensation	$ 0.0
Share based compensation expenses	$ 0.0	0.1
HSOP Plan[Member] \| HSOP Shares [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based payment arrangements, Equity instruments other than options granted	0
Two Thousand And Twenty Incentive Plan [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unrecognized stock based compensation compensation	$ 25.2
Unrecognized stock based compensation compensation, Expected period of recognition	2 years 10 months 20 days
Share based compensation expenses	$ 3.1	$ 5.1
Number of options outstanding	0
Number of options outstanding, including both vested and non-vested options.	21,285,906
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	3,842,400
2021 Incentive Award Plan [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Shares reserved for future issuance	46,066,136

Variable Interest Entities (Tables)

3 Months Ended

Mar. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Primary Beneficiary for VIEs Consolidated Under the VIE Model

As of March 31, 2025 and December 31, 2024, the Company has accounted for the following consolidated investments as VIEs, excluding the wholly owned subsidiaries:


Consolidated Entities	Relationship as of March, 31, 2025	Relationship as of December 31, 2024	Date Control Obtained	Ownership % March 31, 2025	Ownership % December 31, 2024
Perception Neuroscience Holdings, Inc.	Controlled VIE	Controlled VIE	November 2018	59.2%	59.2%
Recognify Life Sciences, Inc.	Controlled VIE	Controlled VIE	November 2020	51.9%	51.9%

Summary of the Assets and Liabilities for all Consolidated VIEs

The following table presents the assets and liabilities (excluding intercompany balances that were eliminated in consolidation) for all VIEs as of March 31, 2025 (in thousands):


	Perception		Recognify
Assets:
Current assets:
Cash	$	171	$	1,874
Accounts receivable		—		—
Prepaid expenses and other current assets		88		42
Total current assets		259		1,916
Total assets	$	259	$	1,916
Liabilities:
Current liabilities:
Accounts payable	$	534	$	498
Accrued liabilities		57		940
Other current liabilities		18		1
Total current liabilities		609		1,439
Total liabilities	$	609	$	1,439

The following table presents the assets and liabilities (excluding intercompany balances that were eliminated in consolidation) for all consolidated VIEs as of December 31, 2024 (in thousands):


	Perception		Recognify
Assets:
Current assets:
Cash	$	31	$	819
Accounts receivable		261		—
Prepaid expenses and other current assets		88		40
Total current assets		380		859
Total assets	$	380	$	859
Liabilities:
Current liabilities:
Accounts payable	$	276	$	221
Accrued liabilities		195		961
Other current liabilities		83		4
Total current liabilities		554		1,186
Total liabilities	$	554	$	1,186

Schedule of Non Controlling Interest Recognized to Its Consolidated VIEs Roll Forward

The Company recognizes noncontrolling interests related to its consolidated VIEs and provides a roll forward of the noncontrolling interests balance, as follows (in thousands):


	Perception
Balance as of December 31, 2024	$	257
Net loss attributable to noncontrolling interests - preferred		(34	)
Comprehensive income attributable to noncontrolling interests		(2	)
Balance as of March 31, 2025	$	221


	Perception			Kures			Recognify			Total
Balance as of December 31, 2023	$	428		$	369		$	557		$	1,354
Net loss attributable to noncontrolling interests - preferred		(100	)		(25	)		(539	)		(665	)
Comprehensive loss attributable to noncontrolling interests		17			7			—			24
Balance as of March 31, 2024	$	345		$	350		$	18		$	713

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2025	Mar. 31, 2024
Pay vs Performance Disclosure
Net Income (Loss)	$ (26,431)	$ (26,713)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 2
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
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-Section 50
-Paragraph 6
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-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 65
-Paragraph 1
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
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+ Details

Leases - Schedule of supplemental cash flow information related to operating leases (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 137		$ 436
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 1,709	$ 0	$ 0

Net Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

Schedule of Basis and Diluted Net Loss Per Share Attributable to ATAI Stockholders

Basic and diluted net loss per share attributable to atai stockholders were calculated as follows (in thousands, except share and per share data):


	For the three months ended March 31,
	2025			2024
Basic and Diluted EPS
Numerator:
Net loss	$	(26,465	)	$	(27,378	)
Net loss attributable to noncontrolling interests		(34	)		(665	)
Net loss attributable to ATAI Life Sciences N.V. shareholders - basic and diluted	$	(26,431	)	$	(26,713	)
Denominator:
Weighted average common shares outstanding attributable to ATAI Life Sciences N.V. Stockholders - basic and diluted		176,271,176			158,891,067
Net loss per share attributable to ATAI Life Sciences N.V. shareholders - basic and diluted	$	(0.15	)	$	(0.17	)

Schedule of Computation of Diluted net Income (Loss) Per Share Attributable to Common Shareholders

Potentially dilutive securities to the Company’s common shares:


	As of March 31,
	2025		2024
Options to purchase common stock		45,429,898		43,573,274
HSOP options to purchase common stock		6,921,829		6,921,829
2018 short-term convertible promissory notes - related parties		2,367,200		2,367,200
2018 short-term convertible promissory notes		3,818,704		3,818,704
Unvested restricted stock units		—		1,183,797
		58,537,631		57,864,804

Leases - Schedule of future minimum commitments maturity operating leases (Details) $ in Thousands	Mar. 31, 2025 USD ($)
Leases [Abstract]
2025	$ 393
2026	789
2027	836
2028	608
2029	502
Thereafter	604
Total lease payments	3,732
Less: Imputed interest	(858)
Present value of lease liabilities	$ 2,874

Investments - Schedule of Other Investments Held at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Other Investments, Held at Fair Value	$ 23,053	$ 28,887
Compass Pathways Plc [Member]
Other Investments, Held at Fair Value	19,751	26,104
Beckley Psytech Additional Warrants [Member]
Other Investments, Held at Fair Value	$ 3,302	$ 2,783

Investments - Summary of Statements of operations (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Shedule Of Equity Method Investment Summarized Statement Of Operations [Line Items]
Revenue	$ 1,555	$ 0
Net loss	(26,465)	(27,378)
GABA Therapeutics Inc [Member]
Shedule Of Equity Method Investment Summarized Statement Of Operations [Line Items]
Loss from continuing operations	(255)	(1,701)
Net loss	$ (255)	$ (1,701)

- Definition

Amount after tax of income (loss) from continuing operations including portion attributable to the noncontrolling interest.

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+ Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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+ Details

Related Party Transactions

3 Months Ended

Mar. 31, 2025

Related Party Transactions

21. Related Party Transactions

atai Formation

In connection with the formation of atai in 2018, the Company entered into a series of transactions with its shareholders Apeiron, among other shareholders, contributed their investments in COMPASS, Innoplexus and Juvenescence to the Company in exchange for the Company's common stock of equivalent value. Apeiron is the family office of the Company’s co-founder who owns 23.3% and 20.1% of the outstanding common stock in the Company as of March 31, 2025 and December 31, 2024, respectively.

Consulting Agreement with Mr. Angermayer

In January 2024, the Company and Mr. Angermayer entered into the Termination and New Consultancy Agreement (the “2024 Consultancy Agreement"). Pursuant to the 2024 Consultancy Agreement, the parties agreed to terminate the original consulting agreement between ATAI AG and Mr. Angermayer dated January 16, 2021 (the “Original Consultancy Agreement”) and enter into a new consultancy agreement between the Company and Mr. Angermayer to, among other things, extend the term of the Original Consultancy Agreement to January 5, 2028, increase the services to include various business objectives (including related to business and finance, communication and investor relations), and provide for the grant of an option to purchase 1,658,094 shares of the Company that vests over four years in part based on continued service and in part based on the Company's total shareholder return compared to the four-year total shareholder return of the companies comprising the XBI.

As a result of the 2024 Consulting Agreement, for the three months ended March 31, 2025 and 2024, the Company recognized $0.1 million and an immaterial amount, respectively, of stock-based compensation included in general and administrative expense in its unaudited condensed consolidated statements of operations.

For the three months ended March 31, 2025 and 2024, the Company recognized an immaterial amount and $0.1 million, respectively, of stock-based compensation included in general and administrative expense in its unaudited condensed consolidated statements of operations related to Mr. Angermayer's service as Chairman of the supervisory board.

Apeiron's Purchase of Common Shares

As mentioned in Note 15 above, in February 2025, the Company entered into an Underwriting Agreement in connection with the issuance and sale by the Company in a public offering of its common shares. Apeiron participated in the public offering, purchasing 10,835,718 common shares at a price per share of $2.10.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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+ Details

Intangible Assets, Goodwill, and Digital Assets - Company's digital assets (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2025 USD ($) $ / Bitcoin
Goodwill and Intangible Assets Disclosure [Abstract]
Digital assets at December 31, 2024 \| $ / Bitcoin	0
Digital assets at December 31, 2024 \| $	$ 0
Additions, Unit \| $ / Bitcoin	58
Additions \| $	$ 5,000
Unrealized loss \| $	$ (212)
Unrealized loss, Unit \| $ / Bitcoin	0
Digital assets at March 31, 2025 \| $	$ 4,788
Digital assets at March 31, 2025 \| $ / Bitcoin	58

Acquisitions (Tables)

3 Months Ended

Mar. 31, 2025

Business Combinations [Abstract]

Schedule of Business Acquisitions by Acquisition

The following table sets forth the allocation of the IGX purchase price to the estimated fair value of the net assets acquired at the Acquisition Date (in thousands):


	Amounts recognized at the Acquisition Date
Assets acquired:
Cash	$	359
Accounts receivable		46
Prepaid expenses and other current assets		971
Property and Equipment		1,892
Right-of-use assets, net		527
Definite-lived intangible assets		2,625
Other assets		275
Total assets	$	6,695
Liabilities assumed:
Accounts payable	$	214
Deferred revenue		575
Accrued liabilities		136
Right-of-use liabilities		327
Other current liabilities		59
Total liabilities	$	1,311
Total identifiable net assets acquired		5,384
Goodwill		331
Total consideration transferred	$	5,715

Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Summary of Fair Value Measurement on Recurring Basis

The following table presents information about the Company’s financial assets and liabilities that are measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation (in thousands):


	Fair Value Measurements as of
	March 31, 2025
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	31,570	$	—	$	—	$	31,570
Investment in securities at fair value:
U.S. treasuries		—		49,917		—		49,917
Digital assets		4,788		—		—		4,788
Other investments held at fair value		19,751		—		3,302		23,053
	$	56,109	$	49,917	$	3,302	$	109,328
Liabilities:
Short-term convertible promissory note conversion option - related party	$	—	$	—	$	1,044		1,044
Short-term convertible promissory note conversion option		—		—		1,689		1,689
Contingent consideration liability - related party		—		—		110		110
Contingent consideration liabilities		—		—		212		212
	$	—	$	—	$	3,055	$	3,055


	Fair Value Measurements as of
	December 31, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	6,196	$	—	$	—	$	6,196
Investment in securities at fair value:
U.S. treasuries		—		44,825		—		44,825
Other investments held at fair value		26,104		—		2,783		28,887
	$	32,300	$	44,825	$	2,783	$	79,908
Liabilities:
Short-term convertible promissory note conversion option - related party	$	—	$	—	$	995	$	995
Short-term convertible promissory note conversion option		—		—		1,616		1,616
Contingent consideration liability - related party		—		—		110		110
Contingent consideration liabilities		—		—		212		212
	$	—	$	—	$	2,934	$	2,934

Summary of Fair Value Measurement Inputs and Valuation Techniques

The fair value of the Perception contingent consideration liability – related parties was calculated using the following significant unobservable inputs:


		March 31, 2025	December 31, 2024

Valuation Technique	Significant Unobservable Inputs	Input Range	Input Range
Discounted cash flow	Milestone contingent consideration:
	Discount rate	11.6%	11.6%
	Probability of the milestone	5.0%	5.0%
Discounted cash flow with scenario-based method	Royalty contingent consideration:
	Discount rate for royalties	3.8% - 4.3%	3.8% - 4.3%
	Discount rate for royalties on milestones	3.8% - 4.3%	3.8% - 4.3%
	Probability of success rate	5.0%	5.0%

Fair value of Contingent Consideration liability

The fair value of the DemeRx contingent consideration liability – related parties was calculated using the following significant unobservable inputs:


		March 31, 2025	December 31, 2024

Valuation Technique	Significant Unobservable Inputs	Input Range	Input Range
Discounted cash flow	Milestone contingent consideration:
	Discount rate	11.7%-11.8%	11.7%-11.8%
	Probability of the milestone	4.0% - 5.0%	4.0% - 5.0%

Defined Contribution Plan

3 Months Ended

Mar. 31, 2025

Retirement Benefits [Abstract]

Defined Contribution Plan

22. Defined Contribution Plan

The Company has a defined contribution retirement savings plan under Section 401(k) of the Internal Revenue Code. This plan allows eligible employees to defer a portion of their annual compensation. Employees may make contributions by having the Company withhold a percentage of their salary up to the Internal Revenue Service annual limit. The Company recognized $0.1 million and $0.2 million of related compensation expense for the three months ended March 31, 2025 and 2024, respectively.

Segment Reporting (Additional Information) (Details)	3 Months Ended
Segment Reporting (Additional Information) (Details)	Mar. 31, 2025 Segment
Segment Reporting [Abstract]
Number of reportable segments	1
Number Of Operating Segments	1

Debt - Schedule of Outstanding debt obligations (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Debt and Lease Obligation [Abstract]
Principal amount	$ 20,000	$ 20,000
End of the term charge	1,390	1,390
Less: unamortized issuance discount	(100)	(123)
Less: unamortized issuance costs	(41)	(51)
Less: unamortized end of term charge	(583)	(709)
Net carrying amount	20,666	20,507
Less: current maturities	(11,366)	(6,374)
Long-term debt, net of current maturities and unamortized debt discount and issuance costs	$ 9,300	$ 14,133

- Definition

Amount of unamortized debt discount (premium) and debt issuance costs.

+ References + Details

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Accrued Liabilities - Summary of Accrued Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Accrued Liabilities, Current [Abstract]
Accrued payroll	$ 2,276	$ 3,776
Accrued accounting, legal, and other professional fees	2,768	2,867
Accrued external research and development expenses	1,891	2,479
Accrued restructuring costs	1,063	0
Other liabilities	576	537
Taxes payable	106	188
Total	$ 8,680	$ 9,847

Stock-Based Compensation - Summary of Restricted Stock Awards (Details) - Options and Restricted Stock Awards [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share Based Compensation Expenses	$ 3,355	$ 5,760
Atai ESOP [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share Based Compensation Expenses	3,351	5,521
Atai HSOP [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share Based Compensation Expenses		117
Other Subsidiary Equity Plans [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share Based Compensation Expenses	4	122
Research and Development Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share Based Compensation Expenses	966	2,158
Research and Development Expense [Member] \| Atai ESOP [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share Based Compensation Expenses	962	2,043
Research and Development Expense [Member] \| Atai HSOP [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share Based Compensation Expenses		0
Research and Development Expense [Member] \| Other Subsidiary Equity Plans [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share Based Compensation Expenses	4	115
General and Administrative Expense [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share Based Compensation Expenses	2,389	3,602
General and Administrative Expense [Member] \| Atai ESOP [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share Based Compensation Expenses	2,389	3,478
General and Administrative Expense [Member] \| Atai HSOP [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share Based Compensation Expenses		117
General and Administrative Expense [Member] \| Other Subsidiary Equity Plans [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share Based Compensation Expenses	$ 0	$ 7

Condensed Consolidated Balance Sheets (Parenthetical)	Mar. 31, 2025 € / shares shares	Mar. 31, 2025 $ / shares shares	Dec. 31, 2024 € / shares shares	Dec. 31, 2024 $ / shares shares
Common Stock, Par or Stated Value Per Share \| (per share)	€ 0.1	$ 0.11	€ 0.1	$ 0.1
Common stock, shares authorized	750,000,000	750,000,000	750,000,000	750,000,000
Common stock, shares, issued	199,775,512	199,775,512	167,959,752	167,959,752
Common stock, shares, outstanding	199,775,512	199,775,512	167,959,752	167,959,752

Variable Interest Entities - Summary of Primary Beneficiary for VIEs Consolidated Under the VIE Model (Detail)	3 Months Ended	12 Months Ended
	Mar. 31, 2025	Dec. 31, 2024
Perception Neuroscience Holdings, Inc. [Member]
Variable Interest Entity [Line Items]
Relationship	Controlled VIE	Controlled VIE
Date Control Obtained	November 2018
Ownership %	59.20%	59.20%
Recognify Life Sciences, Inc. [Member]
Variable Interest Entity [Line Items]
Relationship	Controlled VIE	Controlled VIE
Date Control Obtained	November 2020
Ownership %	51.90%	51.90%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Commitments and Contingencies (Additional Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Lease payments	$ 234	$ 155

Basis of Presentation, Consolidation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2025
Accounting Policies [Abstract]
Basis of Presentation, Consolidation and Summary of Significant Accounting Policies	2. Basis of Presentation, Consolidation and Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and follow the requirements of the United States Securities and Exchange Commission (“SEC”) for interim financial reporting. Accordingly, these unaudited condensed consolidated financial statements do not include all of the information and disclosures required by U.S. GAAP for complete financial statements as certain footnotes or other financial information that are normally required by U.S. GAAP can be condensed or omitted. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on March 17, 2025. The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair statement of the Company’s financial position, its results of operations and comprehensive loss, and its cash flows for the periods presented. The results of operations for the three months ended March 31, 2025 are not necessarily indicative of the results to be expected for the year ending December 31, 2025 or for any other future annual or interim period. Any reference in these notes to applicable accounting guidance is meant to refer to the authoritative U.S. GAAP included in the Accounting Standards Codification (“ASC”), and Accounting Standards Update (“ASU”) issued by the Financial Accounting Standards Board (“FASB”). Consolidation The Company's unaudited condensed consolidated financial statements include the accounts of atai and its subsidiaries. All intercompany balances and transactions have been eliminated in the consolidation. The Company's policy is to consolidate all entities that it controls by ownership of a majority of the outstanding voting stock. In addition, entities that meet the definition of a variable interest entity (“VIE”) for which atai is the primary beneficiary are consolidated. The primary beneficiary is the party who has the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and who has an obligation to absorb losses of the entity or a right to receive benefits from the entity that could potentially be significant to the entity. For consolidated entities that are less than wholly-owned, the third-party’s holding of equity interest is presented as Noncontrolling interests in the Company's unaudited condensed consolidated balance sheets and unaudited condensed consolidated statements of stockholders' equity. The portion of net earnings attributable to the noncontrolling interests is presented as Net loss attributable to noncontrolling interests in the Company's unaudited condensed consolidated statements of operations. Ownership interests in entities over which the Company has significant influence, but not a controlling financial interest, are accounted for under either the alternative measurement under ASC Topic 321: Investments - Equity Securities ("ASC 321) or as an equity method investment. Investments eligible for the measurement alternative under ASC 321 are carried at its initial cost, with remeasurements to fair value upon impairment or upon a price change observed in an orderly transaction of the same or similar investment of the same issuer. For equity method investments where the Company has not elected the fair value option, it records gains (losses) from investments in equity method investees, net of tax, for its proportionate share of the underlying company’s net results until the investment balance is adjusted to zero. If the Company makes subsequent additional investments in that same company, it may record additional gains (losses) based on changes to its investment basis and also may record additional income (loss) in equity method investments. If the Company has elected the fair value option for an equity investment, the fair value of the investment will be recorded upon acquisition and any changes in fair value will be recorded as a component of other income (expense), net. Significant Accounting Policies During the three months ended March 31, 2025, the following changes were made to the Company’s significant accounting policies as described in the Company’s audited consolidated financial statements as of and for the year ended December 31, 2024: Digital Assets As a result of the Company's investment in Bitcoin in March 2025 as part of its treasury reserve diversification strategy, the Company recognized its investment in accordance under ASC 350-60 (as defined below). Under the guidance, Bitcoin and other crypto assets (“digital assets”) are accounted for as indefinite-lived intangible assets, and are initially measured at cost, and are adjusted to fair value at the end of each reporting period. The Company measures gains or losses on the disposition of digital assets in accordance with the first-in-first-out (“FIFO”) method of accounting. Additionally, changes in fair value will be recorded in Change in fair value of digital assets on the Company's unaudited condensed consolidated statements of operations. The Company expects to hold its digital assets as a long-term investment, and, therefore, they are classified as non-current assets as of March 31, 2025 on the unaudited condensed consolidated balance sheets. Contingent Consideration Liabilities The Company may record contingent consideration as part of the cost of either business combinations or asset acquisitions. For contingent consideration recognized as part of a business combination, the Company recognizes the contingent consideration in accordance with ASC Topic 805: Business Combinations ("ASC 805") which is measured at the fair value as of the date of acquisition and accounted for under Contingent consideration liabilities or Contingent consideration liability - related party on the consolidated balance sheets. Contingent considerations from business combinations are remeasured on a quarterly basis, as appropriate, using a discounted cash-flow valuation technique until fulfillment of the contingency. Changes in the fair value of the contingent consideration are recognized as Change in fair value of assets and liabilities, net, a component of other income (expense), net in the consolidated statements of operations. For contingent consideration recognized as part of an asset acquisition, the Company must first assess whether the contingent consideration should be accounted for as either an embedded derivative under ASC Topic 815: Derivatives ("ASC 815"), or in accordance with an acquisition of an equity-method investment under Subtopic ASC 323-10 ("ASC 323-10"). Contingent consideration under the guidance of ASC 815 will be recorded as a derivative liability, which is measured at fair value and remeasured on a quarterly basis. Under the guidance of ASC 323-10, contingent consideration is recorded as a liability at the lesser of either the maximum amount of contingent consideration or the excess of the Company's share of the equity method investee's net assets over the initial cost measurement. If the contingent consideration does not fall under the guidance of either ASC 815 or ASC 323-10, the Company elects the practical expedient under FASB's Statement 141, in which no contingent consideration liability is recognized on the acquisition date, and recognition does not occur unless the contingency is resolved and the consideration is issued or become issuable. Recently Adopted Accounting Pronouncements ASU 2023-07 Segment Reporting: Improvements to Reportable Segment Disclosures In November 2023, the Financial Accounting Standard Board ("FASB") issued new guidance designed to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant expenses per segment. The guidance is effective for all fiscal years beginning after December 15, 2023, and for interim periods beginning after December 15, 2024. The new standard must be adopted on a retrospective basis and early adoption is permitted. The Company adopted this standard for fiscal year 2024, and applied the amendments retrospectively to all prior periods presented in the Company's unaudited condensed consolidated financial statements. Refer to Note 24 for more information. ASU 2023-08 Intangibles - Goodwill and Other - Crypto Assets In December 2023, the FASB issued ASU 2023-08, Accounting for and Disclosure of Crypto Assets, which is codified as ASC subtopic 350-60 ("ASC 350-60"). The new guidance is designed to streamline the accounting treatment of crypto assets. ASC 350-60 requires that an entity measure crypto assets at fair value with changes recognized in net income at each reporting period and present crypto assets separately from other intangible assets in the balance sheet and changes from the remeasurement of crypto assets separately from changes in the carrying amounts of other intangible assets in the income statement. The guidance is effective for annual periods beginning after December 15, 2024 and interim periods within annual periods beginning after December 15, 2024. The Company adopted ASC 350-60 as of January 1, 2025 resulting in certain expanded disclosures about its digital assets. Refer to Note 11 for more information. Recently Issued Accounting Pronouncements Not Yet Adopted In December 2023, the FASB issued guidance designed to improve income tax disclosure requirements, primarily through increased disaggregation disclosures within the effective tax rate reconciliation as well as enhanced disclosures on income taxes paid. The guidance is effective for all fiscal years beginning after December 15, 2024. The new standard can be adopted on a prospective basis with an option to be adopted retrospectively and early adoption is permitted. The Company is not early adopting the standard. The Company is currently evaluating this guidance to determine its impact on the Company's unaudited condensed consolidated financial statements. In November 2024, the FASB issued guidance designed to improve income statement expense disclosures, primarily by requiring new financial statement disclosures in tabular format and disaggregating information about prescribed categories underlying any relevant income statement captions. The standard is effective for fiscal years beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. Upon adoption, the new standard may be applied prospectively or retrospectively. The Company is currently evaluating the impact that the adoption may have on its disclosures in its unaudited condensed consolidated financial statements. In November 2024, the FASB issued guidance which clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. The standard is effective for annual periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods. Early adoption is permitted for all entities that have adopted the amendments in Update 2020-06. Adoption can be on a prospective or retrospective basis. The Company is currently in the process of evaluating the impact of adoption on the unaudited condensed consolidated financial statements.

Corporate Restructuring (Tables)

3 Months Ended

Mar. 31, 2025

Restructuring and Related Activities [Abstract]

Schedule Of Reconciliation Of The Restructuring Charges And Related Payments

A reconciliation of the restructuring charges and related payments for the three months ended March 31, 2025 and 2024 is as follows (in thousands):


	As of March 31,
	2025			2024
Restructuring costs expensed during the period	$	1,098		$	1,925
Non-cash impact of stock-based compensation		(35	)		(358	)
Cash payments of restructuring liabilities, net		—			(1,237	)
Ending Restructuring liability	$	1,063		$	330

Corporate Restructuring (Additional Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Restructuring Cost and Reserve [Line Items]
Restructuring expense	$ 1,098	$ 1,925
Restructuring Liability	1,063	330
Research and Development Expense [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expense	400	300
General and Administrative Expense [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expense	700	1,600
Stock-based compensation expense [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expense		400
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expense	$ 1,100	$ 1,500

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Leases - Schedule of operating leases assets and liabilities lessee (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Feb. 28, 2025	Dec. 31, 2024
Leases [Abstract]
Operating lease right-of-use asset, net	$ 2,905	$ 1,700	$ 1,334
Current portion of lease liability	$ 287		$ 477
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Operating lease right-of-use asset, net		Operating lease right-of-use asset, net
Noncurrent portion of lease liability	$ 2,587		$ 732
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Noncurrent portion of lease liability		Noncurrent portion of lease liability

Acquisitions - Additional Information (Detail) - USD ($)			3 Months Ended		12 Months Ended
	Aug. 30, 2023	Sep. 14, 2021	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2023	May 31, 2024	Sep. 30, 2023	May 31, 2021	Mar. 08, 2021
Business Combinations [Line Items]
Secured debt			$ 2,300,000	$ 2,200,000
Stock issued during period, Value			59,117,000
Non-operating income expense			$ (5,939,000)	(1,596,000)
Call Option [Member]
Business Combinations [Line Items]
Convertible debenture units			7,401
Loans Receivable [Member]
Business Combinations [Line Items]
Receivables, Maturity description			The Original Loan Agreement was amended in September 2021, which, among other things, increased the principal amount of loans available to IntelGenx by $6.0 million, for a total of up to $8.5 million. In August 2023, the Company and IntelGenx entered into the first amendment to the amended and restated loan agreement (the "First Amendment") which, among other things, extended the maturity date from January 5, 2024 to January 5, 2025.
IntelGenx [Member]
Business Combinations [Line Items]
Estimated fair value of contingent consideration			$ 5,700,000
IntelGenx [Member] \| Warrant [Member]
Business Combinations [Line Items]
Common shares								$ 12,300,000
IntelGenx [Member] \| Convertible debenture [Member] \| Subscription Agreement [Member]
Business Combinations [Line Items]
Secured debt	$ 2,200,000
Convertible debenture units	2,220
Conversion of units, debentures, Value	$ 800,000
Investment measured at fair value as per fair value option	$ 1,000,000
Common share purchase warrants	5,405
IntelGenx [Member] \| Convertible debenture [Member] \| Unit [Member] \| Subscription Agreement [Member]
Business Combinations [Line Items]
Convertible debenture units	750
IntelGenx [Member] \| Debtor in Possession Loan [Member]
Business Combinations [Line Items]
Long-Term Debt, Fair Value						$ 8,000,000
IntelGenx [Member] \| Term Loan Receivable [Member]
Business Combinations [Line Items]
Receivable, Face amount		$ 8,500,000
Conversion Price							$ 185
Aggregate principal amount		8,500,000
IntelGenx [Member] \| Term Loan Receivable [Member] \| Amended and Restated Loan Agreement [Member]
Business Combinations [Line Items]
Loan agreement		$ 6,000,000
IntelGenx [Member] \| March Term Loan Receivable [Member]
Business Combinations [Line Items]
Receivable, Face amount									$ 2,000,000
Aggregate principal amount									2,000,000
IntelGenx [Member] \| Additional Term Loan Receivable [Member]
Business Combinations [Line Items]
Receivable, Face amount									500,000
Aggregate principal amount									$ 500,000
IntelGenx [Member] \| Additional Term Loan Receivable [Member] \| First Tranche [Member]
Business Combinations [Line Items]
Receivable, Face amount				1,000,000
Aggregate principal amount				1,000,000
IntelGenx [Member] \| Additional Term Loan Receivable [Member] \| Second Tranche [Member]
Business Combinations [Line Items]
Receivable, Face amount				1,000,000
Aggregate principal amount				$ 1,000,000
IntelGenx [Member] \| Additional Term Loan Receivable [Member] \| Two Thousand Twenty Four Warrant [Member]
Business Combinations [Line Items]
Stock issued during period, Value			$ 4,000,000
Warrant exercise price			$ 0.17
IntelGenx [Member] \| Two Thousand Twenty Three Term Loan Note [Member]
Business Combinations [Line Items]
Receivable, Face amount					$ 500,000
Loans receivable, Fixed interest rate					14.00%
Aggregate principal amount					$ 500,000

Intangible Assets, Goodwill, and Digital Assets (Additional Information) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2025 USD ($) Bitcoin	Dec. 31, 2024 USD ($)
Finite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets		$ 900
Amortization of Intangible Assets	$ 100
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life	9 years 9 months 18 days
Goodwill	$ 331	$ 331
Bitcoins \| Bitcoin	58
Cash paid for Bitcoin	$ 5,000
IntelGenx Corp [Member]
Finite-Lived Intangible Assets [Line Items]
Definite-lived intangible assets	2,625
Goodwill	$ 331
OTF Technology Member
Finite-Lived Intangible Assets [Line Items]
Remaining Useful Lives	10 years
Amortization of Acquisition Costs	$ 2,400
gBelBuca manufacturing contract Member
Finite-Lived Intangible Assets [Line Items]
Remaining Useful Lives	19 years
Amortization of Acquisition Costs	$ 200
Internal use software Member
Finite-Lived Intangible Assets [Line Items]
Remaining Useful Lives	2 years
Definite Lived Intangible Assets Includes Internal Use Software Costs	$ 600

Leases

3 Months Ended

Mar. 31, 2025

Leases [Abstract]

Leases

13. Leases

Operating lease Right-of-Use (“ROU”) assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. The operating lease ROU asset also includes lease payments made, lease incentives, and initial direct costs incurred, if any.

The Company leases certain office space under long-term operating leases that expire at various dates through 2028. The Company generally has options to renew lease terms on its facilities, which may be exercised at the Company's sole discretion.

In connection with the Company's acquisition of IGX on October 2, 2024, the Company assumed lessee rights to approximately 43,000 square feet of office, lab, and manufacturing spaces in Montréal, Canada which expire in February 2026. The lease terms include an option to renew for an additional 5 years, which may be exercised at the Company's sole discretion.

In February 2025, the Company amended the lease agreements to exercise the aforementioned renewal option. As a result, the leases will now expire in February 2031. The Company adjusted the Operating lease right-of-use asset, net and lease liability by approximately $1.7 million to reflect the extended lease term. The amendment between the Company and the landlord does not entitle the Company to lease additional space.

The weighted-average remaining lease term for the Company’s operating leases as of March 31, 2025 was 5.0 years. The weighted-average discount rate for the Company’s operating leases as of March 31, 2025 was 10.3%.

ROU assets and lease liabilities related to the Company’s operating leases are as follows (in thousands):


	Balance Sheet Classification	March 31, 2025		December 31, 2024
Right-of-use assets	Operating lease right-of-use asset, net	$	2,905	$	1,334
Current lease liabilities	Current portion of lease liability		287		477
Non-current lease liabilities	Non-current portion of lease liability		2,587		732

Expenses related to leases is recorded on a straight-line basis over the lease term. The following table summarizes lease costs by component for the three months ended March 31, 2025 and 2024 (in thousands):


		For the Three Months Ended March 31,
Lease Cost Components	Statement of Operations Classification	2025		2024
Operating lease cost	Operating expenses: General and administrative	$	100	$	121
Operating lease cost	Operating expenses: Research and Development		90		—
Short-term lease cost	Operating expenses: General and administrative		44		34
Total lease cost		$	234	$	155

Future minimum commitments under all non-cancelable operating leases are as follows (in thousands):


Year Ended
2025	$	393
2026		789
2027		836
2028		608
2029		502
Thereafter		604
Total lease payments	$	3,732
Less: Imputed interest		(858	)
Present value of lease liabilities	$	2,874

Supplemental cash flow information related to the Company’s operating leases for the three months ended March 31, 2025 and 2024 are as follows (in thousands):


	March 31, 2025		December 31, 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	137	$	436
Right-of-use assets obtained in exchange for new operating lease liabilities	$	1,709	$	—

Fair Value Measurement - Summary of Fair Value Measurement on Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Liabilities:
Contingent consideration liability	$ 212	$ 212
Fair Value, Recurring [Member]
Cash equivalents:
Digital assets	4,788
Other investment at fair value	23,053	28,887
Assets fair value	109,328	79,908
Liabilities:
Short-term convertible promissory note conversion option - related party	1,044	995
Short-term convertible promissory note conversion option	1,689	1,616
Contingent consideration liability - related party	110	110
Contingent consideration liability	212	212
Liability fair value	3,055	2,934
Fair Value, Recurring [Member] \| U.S. Treasuries [Member]
Cash equivalents:
Fair value of debt securities	49,917	44,825
Fair Value, Recurring [Member] \| Money Market Funds [Member]
Cash equivalents:
Cash & Money market funds	31,570	6,196
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member]
Cash equivalents:
Digital assets	4,788
Other investment at fair value	19,751	26,104
Assets fair value	56,109	32,300
Liabilities:
Short-term convertible promissory note conversion option - related party	0	0
Short-term convertible promissory note conversion option	0	0
Contingent consideration liability - related party	0	0
Contingent consideration liability	0	0
Liability fair value	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member] \| U.S. Treasuries [Member]
Cash equivalents:
Fair value of debt securities	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 1 [Member] \| Money Market Funds [Member]
Cash equivalents:
Cash & Money market funds	31,570	6,196
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Cash equivalents:
Digital assets	0
Other investment at fair value	0	0
Assets fair value	49,917	44,825
Liabilities:
Short-term convertible promissory note conversion option - related party	0	0
Short-term convertible promissory note conversion option	0	0
Contingent consideration liability - related party	0	0
Contingent consideration liability	0	0
Liability fair value	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member] \| U.S. Treasuries [Member]
Cash equivalents:
Fair value of debt securities	49,917	44,825
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member] \| Money Market Funds [Member]
Cash equivalents:
Cash & Money market funds	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Cash equivalents:
Digital assets	0
Other investment at fair value	3,302	2,783
Assets fair value	3,302	2,783
Liabilities:
Short-term convertible promissory note conversion option - related party	1,044	995
Short-term convertible promissory note conversion option	1,689	1,616
Contingent consideration liability - related party	110	110
Contingent consideration liability	212	212
Liability fair value	3,055	2,934
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member] \| U.S. Treasuries [Member]
Cash equivalents:
Fair value of debt securities	0	0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member] \| Money Market Funds [Member]
Cash equivalents:
Cash & Money market funds	$ 0	$ 0

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Statement of Comprehensive Income [Abstract]
Net loss	$ (26,465)	$ (27,378)
Other comprehensive income:
Foreign currency translation adjustments, net of tax	(682)	535
Comprehensive loss	(27,147)	(26,843)
Net loss attributable to noncontrolling interests	(34)	(665)
Foreign currency translation adjustments, net of tax attributable to noncontrolling interests	(2)	24
Comprehensive loss attributable to noncontrolling interests	(36)	(641)
Comprehensive loss attributable to ATAI Life Sciences N.V. stockholders	$ (27,111)	$ (26,202)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

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- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

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- Definition

Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature.

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- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Accrued Liabilities (Tables)

3 Months Ended

Mar. 31, 2025

Accrued Liabilities, Current [Abstract]

Summary of Accrued Liabilities

Accrued liabilities consist of the following (in thousands):


	March 31, 2025		December 31, 2024
Accrued payroll	$	2,276	$	3,776
Accrued accounting, legal, and other professional fees		2,768		2,867
Accrued external research and development expenses		1,891		2,479
Accrued restructuring costs		1,063		—
Other liabilities		576		537
Taxes payable		106		188
Total	$	8,680	$	9,847

Common Stock

3 Months Ended

Mar. 31, 2025

Stockholders' Equity Note [Abstract]

Common Stock

15. Common Stock

All common shareholders have identical rights. Each common share entitles the holder to one vote on all matters submitted to the shareholders for a vote.

All holders of common shares are entitled to receive dividends, as may be declared by the Company’s board of supervisory directors. Upon liquidation, common shareholders will receive distribution on a pro rata basis. As of March 31, 2025 and December 31, 2024, no cash dividends have been declared or paid.

In November 2022, the Company entered into an Open Market Sale Agreement with Jefferies LLC (“Jefferies”), pursuant to which the Company may issue and sell its common shares, nominal value €0.10 per share, having an aggregate offering price of up to $150.0 million, from time to time through an “at the market” equity offering program under which Jefferies will act as sales agent. There have been no sales under the Sales Agreement for the three months ended March 31, 2025 and 2024.

In February 2025, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Berenberg Capital Markets LLC in connection with the issuance and sale by the Company in a public offering of 26,190,477 of its common shares, at a public offering price of $2.10 per share, less underwriting discounts and commissions. The common shares were offered pursuant to a registration statement on Form S-3 filed with the SEC on July 1, 2022 and declared effective on July 11, 2022 as well as a prospectus supplement filed with the SEC on February 13, 2025. Under the terms of the Underwriting Agreement, the Company granted to the Underwriter an option exercisable for 30 days to purchase up to an additional 3,928,571 common shares at the public offering price, less underwriting discounts and commissions. Pursuant to the Underwriting Agreement, the Underwriter exercised the option to purchase the full amount of the additional 3,928,571 common shares.

The net proceeds from the offering of the common shares were approximately $59.1 million, after deducting the underwriting discounts and commissions and offering expenses payable by the Company.

- Definition

The entire disclosure for equity.

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+ Details

Investments - Summary of Equity Method Investments and Other Investments (Detail) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Investment [Line Items]
Other Long-term Investments	$ 42,079	$ 42,079
Beckley Psytech Limited [Member]
Investment [Line Items]
Other Long-term Investments	$ 42,079	$ 42,079

Variable Interest Entities - Summary of the Assets and Liabilities for all Consolidated VIEs (Detail) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Current assets:
Prepaid expenses and other current assets	$ 7,774	$ 7,795
Total current assets	115,978	80,125
Other assets	810	850
Total assets	195,783	159,387
Current liabilities:
Accounts payable	2,705	2,616
Accrued liabilities	8,680	9,847
Other current liabilities	2,335	2,647
Total current liabilities	28,501	24,951
Total liabilities	43,509	42,833
Perception [Member]
Current assets:
Cash	171	31
Accounts receivable	0	261
Prepaid expenses and other current assets	88	88
Total current assets	259	380
Total assets	259	380
Current liabilities:
Accounts payable	534	276
Accrued liabilities	57	195
Other current liabilities	18	83
Total current liabilities	609	554
Total liabilities	609	554
Recognify [Member]
Current assets:
Cash	1,874	819
Accounts receivable	0	0
Prepaid expenses and other current assets	42	40
Total current assets	1,916	859
Total assets	1,916	859
Current liabilities:
Accounts payable	498	221
Accrued liabilities	940	961
Other current liabilities	1	4
Total current liabilities	1,439	1,186
Total liabilities	$ 1,439	$ 1,186

Net Loss Per Share - Schedule of Computation of Diluted net Income (Loss) Per Share Attributable to Common Shareholders (Detail) - shares	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	58,537,631	57,864,804
Options to purchase Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	45,429,898	43,573,274
HSOP options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	6,921,829	6,921,829
2018 short-term convertible promissory notes - related parties
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,367,200	2,367,200
2018 short-term convertible promissory notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,818,704	3,818,704
Unvested restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	1,183,797

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Fair Value Measurement - Summary of Fair Value Measurement on Recurring Basis, Unobservable Input Reconciliation (Detail) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2025

Mar. 31, 2024

IntelGenx Convertible Notes Receivable [Member]

Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Beginning Balance

$ 11,202

Initial fair value of instrument

988

Change in fair value, including interest

1,712

Ending Balance

13,902

Beckley Psytech Additional Warrants [Member]

Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Beginning Balance

Initial fair value of instrument

2,645

Change in fair value, including interest

Ending Balance

2,645

New NV Notes Conversion Feature [Member]

Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Beginning Balance

2,385

Initial fair value of instrument

Change in fair value, including interest

1,734

Ending Balance

4,119

IntelGenx Investments Held at Fair Value [Member]

Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Beginning Balance

^[1]

6,124

Initial fair value of instrument

^[1]

420

Change in fair value, including interest

^[1]

1,429

Ending Balance

^[1]

7,973

Contingent Consideration Liability - Related Parties [Member]

Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Beginning Balance

^[2]

620

Initial fair value of instrument

^[2]

Change in fair value, including interest

^[2]

(13)

Ending Balance

^[2]

607

Contingent Consideration Liability Related Parties [Member]

Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Beginning Balance

^[3]

$ 110

Change in fair value, including interest

^[3]

(0)

Ending Balance

^[3]

110

Contingent Consideration Liability [Member]

Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Beginning Balance

212

^[4]

1,637

^[5]

Initial fair value of instrument

^[5]

Change in fair value, including interest

(0)

^[4]

(231)

^[5]

Ending Balance

212

^[4]

$ 1,406

^[5]

2018 Convertible Notes Call Option [Member]

Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Beginning Balance

2,611

Change in fair value, including interest

122

Ending Balance

2,733

Beckley Additional Warrants [Member]

Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

Beginning Balance

2,783

Change in fair value, including interest

519

Ending Balance

$ 3,302

[1]	(i) Includes, Initial Warrants, Additional Unit Awards, 2023 Initial Warrants, 2023 Subsequent Warrants, and Call Option Units
[2]	(ii) Includes Perception's milestone-based contingent consideration liability.
[3]	(i) Includes Perception milestone based contingent consideration liability.
[4]	(ii) Includes contingent consideration liability related to DemeRx IB Stock Purchase as well as contingent consideration liability related to the TryptageniX research and development milestone success fee payments and royalties payments.
[5]	(iii) Includes the contingent consideration liability related to DemeRx IB Stock Purchase and the contingent consideration liability related to the TryptageniX research and development milestone success fee payments and royalties payments.

Stock-Based Compensation - Summary of Employee Stock Ownership Plan (ESOP) Disclosures (Detail) - HSOP Shares [Member] - HSOP Plan[Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2025	Dec. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of optionsOutstanding as of December 31, 2024	6,921,829
Number of Options, Granted	0
Number of options, Exercised	0
Number of Options, Cancelled or forfeited	0
Number of options Outstanding as of March 31, 2025	6,921,829	6,921,829
Number of Options,Options exercisable as of March 31, 2025	6,921,829
Weighted-Average Exercise Price, Exercised	$ 0
Weighted- Average Remaining Contractual Term (Years)	10 years 9 months 3 days	11 years 3 days
Weighted- Average Remaining Contractual Term (Years),Options exercisable as of March 31, 2025	10 years 9 months 3 days
Aggregate Intrinsic Value,Beginning		$ 0

Stock-Based Compensation - Summary of Restricted Common Stock Awards Activity (Detail) - Restricted Stock Units (RSUs) [Member]	3 Months Ended
	Mar. 31, 2025 $ / shares shares
Share Based Arrangements To Obtain Goods And Services [Line Items]
Number of optionsOutstanding as of December 31, 2024 \| shares	719,557
Number of Options, Granted \| shares	0
Number of options,Vested \| shares	719,557
Number of options,Forfeited \| shares	0
Number of options Outstanding as of March 31, 2025 \| shares	0
Weighted Average Grant Date Fair Value at December 31, 2024 \| $ / shares	$ 1.18
Weighted Average Grant Date Fair Value, Granted \| $ / shares	0
Weighted Average Grant Date Fair Value, Vested \| $ / shares	1.18
Weighted Average Grant Date Fair Value, Forfeited \| $ / shares	0
Weighted Average Grant Date Fair Value at March 31, 2025 \| $ / shares	$ 0

Net Loss Per Share

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

Net Loss Per Share

18. Net Loss Per Share

Basic and diluted net loss per share attributable to atai stockholders were calculated as follows (in thousands, except share and per share data):


	For the three months ended March 31,
	2025			2024
Basic and Diluted EPS
Numerator:
Net loss	$	(26,465	)	$	(27,378	)
Net loss attributable to noncontrolling interests		(34	)		(665	)
Net loss attributable to ATAI Life Sciences N.V. shareholders - basic and diluted	$	(26,431	)	$	(26,713	)
Denominator:
Weighted average common shares outstanding attributable to ATAI Life Sciences N.V. Stockholders - basic and diluted		176,271,176			158,891,067
Net loss per share attributable to ATAI Life Sciences N.V. shareholders - basic and diluted	$	(0.15	)	$	(0.17	)

HSOP Shares issued to the Partnership and allocated to the HSOP Participants are not considered outstanding for accounting purposes and not included in the calculation of basic weighted average common shares outstanding in the table above because the HSOP Participants have a forfeitable right to distributions until the HSOP Options vest and are exercised, at which time the right becomes nonforfeitable.

The following also represents the maximum amount of outstanding shares of potentially dilutive securities that were excluded from the computation of diluted net loss per share attributable to common shareholders for the periods presented because including them would have been antidilutive:

Potentially dilutive securities to the Company’s common shares:


	As of March 31,
	2025		2024
Options to purchase common stock		45,429,898		43,573,274
HSOP options to purchase common stock		6,921,829		6,921,829
2018 short-term convertible promissory notes - related parties		2,367,200		2,367,200
2018 short-term convertible promissory notes		3,818,704		3,818,704
Unvested restricted stock units		—		1,183,797
		58,537,631		57,864,804

Stock-Based Compensation

3 Months Ended

Mar. 31, 2025

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

16. Stock-Based Compensation

atai Equity Incentive Plans

The Company has stock options and restricted stock units (“RSUs”) outstanding under various equity incentive plans, including the 2020 Incentive Plan, 2021 Incentive Plan, and HSOP Plan, which are further described in Note 15 of the Company’s audited consolidated financial statements included in the Company’s Annual Report on Form 10-K filed with the SEC on March 17, 2025.

As of March 31, 2025, there were no shares available for future grants under the 2020 Incentive Plan and any shares subject to outstanding options originally granted under the 2020 Equity Incentive Plan that terminate, expire or lapse for any reason without the delivery of shares to the holder thereof shall become available for issuance pursuant to the atai Life Sciences 2021 Incentive Award Plan.

Shares that are expired, terminated, surrendered, or canceled without having been fully exercised will be available for future awards. As of March 31, 2025, 46,066,136 shares were available for future grants under the 2021 Incentive Plan.

As of March 31, 2025, 257,419 HSOP Options were available for future grants under the HSOP Plan.

Stock Option activity under 2020 Incentive Plan and 2021 Incentive Plan

The stock options outstanding noted below consist primarily of both service and performance-based options to purchase common stock. These stock options have a ten-year contractual term. These awards are subject to the risk of forfeiture until vested by virtue of continued employment or service to the Company.

The following is a summary of stock option activity from December 31, 2024 to March 31, 2025:


	Number of Options				Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value (thousands)
Outstanding as of December 31, 2024		40,042,922			$	3.81		7.29	$	5,119
Granted		9,345,259		(i)		1.55		—		—
Exercised		(627,655	)			0.63		—		—
Cancelled or forfeited		(3,330,628	)			4.65		—		—
Outstanding as of March 31, 2025		45,429,898		(ii)	$	3.32		7.65	$	4,908
Options exercisable as of March 31, 2025		24,143,992			$	4.42		6.52	$	4,359

(i)

(ii)

The weighted-average grant-date fair value of options granted during the three months ended March 31, 2025 was $1.25 per option. The weighted-average grant-date fair value of options granted during the three months ended March 31, 2024 was $1.23 per option.


	March 31,
	2025	2024
Weighted average expected term in years	6.01	5.98
Weighted average expected stock price volatility	99.8%	73.4%
Risk-free interest rate	3.97% - 4.47%	3.78% - 4.15%
Expected dividend yield	0%	0%

For the three months ended March 31, 2025 and 2024, the Company recorded stock-based compensation expense related to stock options of $3.1 million and $5.1 million, respectively.

As of March 31, 2025, total unrecognized compensation cost related to the unvested stock options was $25.2 million, which is expected to be recognized over a weighted average period of 2.89 years.

Restricted Stock Unit activity under the 2021 Incentive Plan

The Company has granted RSUs to certain of its employees under the 2021 Incentive Plan, as part of its equity compensation program. Pursuant to the terms of the applicable award agreements, each RSU represents the right to receive one share of the Company’s common stock. The restricted stock units noted below consist of service-based awards vesting over a two-year period, subject to the risk of forfeiture until vested by virtue of continued employment or service to the Company. The Company reflects restricted stock units as issued and outstanding common stock when vested and the shares have been delivered to the individual.

The following is a summary of restricted stock unit activity from December 31, 2024 to March 31, 2025:


	Number of Restricted Stock Units		Weighted-Average Grant Date Fair Value
Unvested at December 31, 2024		719,557	$	1.18
Granted		—		—
Vested		719,557		1.18
Forfeited		—		—
Unvested at March 31, 2025		—		—

For the three months ended March 31, 2025 and 2024, the Company recorded stock-based compensation expense related to restricted stock units of $0.2 million and $0.4 million, respectively.

The total fair value of restricted stock units vested during the three months ended March 31, 2025 was $0.8 million. As of March 31, 2025, there was no unrecognized compensation cost related to the unvested stock-based awards.

Stock Option activity under HSOP Plan

The HSOP Options outstanding noted below consist of service and performance-based options to request the distribution of HSOP Shares. These HSOP Options have a fifteen-year contractual term. These HSOP Options vested over a three to four-year service period. These awards are subject to the risk of forfeiture until vested by virtue of continued employment or service to the Company.

The following is a summary of stock option activity under the HSOP Plan from December 31, 2024 to March 31, 2025:


	Number of Options		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value (thousands)
Outstanding as of December 31, 2024		6,921,829	$	6.64		11.01	$	—
Granted		—		—		—		—
Exercised		—		—		—		—
Cancelled or forfeited		—		—		—		—
Outstanding as of March 31, 2025		6,921,829	$	6.64		10.76	$	—
Options exercisable as of March 31, 2025		6,921,829	$	6.64		10.76	$	—

As shown above, the Company did not grant any new HSOP options during the three months ended March 31, 2025 or 204. For the three months ended March 31, 2025 and 2024, the Company recorded stock-based compensation expense of zero and $0.1 million, respectively.

As of March 31, 2025, there was no unrecognized compensation cost related to the unvested stock-based awards.

Subsidiary Equity Incentive Plans

Certain controlled subsidiaries of the Company adopted their own equity incentive plans (each, an “EIP”). Each EIP is generally structured so that the applicable subsidiary, and its affiliates’ employees, directors, officers and consultants are eligible to receive non-qualified and incentive stock options and restricted stock unit awards under their respective EIP. Standard option grants have time-based vesting requirements, generally vesting over a period of four years with a contractual term of ten years. Such time-based stock options use the Black-Scholes option pricing model to determine grant date fair value.

For the three months ended March 31, 2025 and 2024, the Company recorded share-based compensation expense of an immaterial amount and $0.1 million, respectively, in relation to subsidiary EIPs. As of March 31, 2025, there was an immaterial amount of total unrecognized stock-based compensation expense related to unvested EIP awards to employees and non-employee directors expected to be recognized over a weighted-average period of approximately 0.9 years.

Stock-Based Compensation

Stock-based compensation expense is allocated to either research and development or general and administrative expense on the unaudited condensed consolidated statements of operations based on the cost center to which the option holder belongs.

The following table summarizes the total stock-based compensation expense by function for the three months ended March 31, 2025, which includes expense related to stock options and restricted stock unit awards (in thousands):


	Three months ended March 31, 2025
	atai 2020 and 2021 Incentive Plans		Other Subsidiary Equity Plans		Total
Research and development	$	962	$	4	$	966
General and administrative		2,389		—	$	2,389
Total stock-based compensation expense	$	3,351	$	4	$	3,355


	For the three months ended March 31, 2024
	atai 2020 and 2021 Incentive Plans		atai HSOP		Other Subsidiary Equity Plans		Total
Research and development	$	2,043	$	—	$	115	$	2,158
General and administrative		3,478		117		7	$	3,602
Total stock-based compensation expense	$	5,521	$	117	$	122	$	5,760

Corporate Restructuring - Schedule Of Reconciliation Of The Cash Restructuring Charges And Related Payments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
Restructuring costs expensed during the period	$ 1,098	$ 1,925
Non-cash impact of stock-based compensation	(35)	(358)
Cash payments of restructuring liabilities, net	0	(1,237)
Restructuring liability , Ending Balance	$ 1,063	$ 330

Prepaid Expenses and Other Current Assets - Summary of Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid research and development related expenses	$ 4,508	$ 4,900
Tax receivables	1,490	1,348
Other	1,384	775
Prepaid insurance	392	772
Total	$ 7,774	$ 7,795

License Agreements - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2022	Dec. 31, 2021	Feb. 28, 2025	Dec. 31, 2024	Jan. 31, 2022
License Agreements [Line Items]
Common Stock, Value, Issued	$ 22,121					$ 18,785
Otsuka Agreement [Member]
License Agreements [Line Items]
Revenue Related To Certain Research And Development	0	$ 0
CHIBA License [Member]
License Agreements [Line Items]
Material Payment	0	0
Allergan License Agreement [Member]
License Agreements [Line Items]
Material Payment	0	0
Dalriada License Agreement [Member]
License Agreements [Line Items]
Research & development expense	400	400
Service fees				$ 12,800
Dalriada License Agreement [Member] \| Research And Development Services [Member]
License Agreements [Line Items]
Research and development in process			$ 600
Dalriada License Agreement [Member] \| Service, Other [Member]
License Agreements [Line Items]
Service fees	0	$ 0
Invyxis ESLA [Member]
License Agreements [Line Items]
Upfront deposit							$ 1,100
Invyxis ESLA [Member] \| Minimum [Member]
License Agreements [Line Items]
Upfront deposit			500
Invyxis ESLA [Member] \| Maximum [Member]
License Agreements [Line Items]
Upfront deposit			$ 1,100
Rizafilm LLC License And Supply Agreement [Member]
License Agreements [Line Items]
Purchase Orders	0
Contract with customer liability, revenue recognized	200
Psilera Acquisition [Member]
License Agreements [Line Items]
Milestone payment payable					$ 82,300
Upfront deposit					$ 800
Contingent Liabilities	0
Psilera Acquisition [Member] \| Service, Other [Member]
License Agreements [Line Items]
Service fees	0
Otsuka [Member] \| Otsuka Agreement [Member]
License Agreements [Line Items]
Performance obligation	20,000
Otsuka [Member] \| Commercial Milestones [Member] \| Otsuka Agreement [Member]
License Agreements [Line Items]
Milestone payments, receivable	66,000
Otsuka [Member] \| Development And Regulatory Milestones [Member] \| Otsuka Agreement [Member]
License Agreements [Line Items]
Milestone payments, receivable	$ 35,000

Revenue

3 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

Revenue

3. Revenue

As described in Note 1 above, the Company's primary operations are inclusive of the research and development of several product candidates. The Company's ability to generate revenue will depend substantially on the successful development and eventual commercialization of product candidates. For the three months ended March 31, 2025 and 2024, the Company has not recognized revenue from its primary operations and does not expect to do so for at least the next several years. The Company does generate revenue from license agreements and research and development agreements, which is further explained below:

License Revenue

Otsuka License and Collaboration Agreement

In March 2021, Perception entered into a license and collaboration agreement (the “Otsuka Agreement”) with Otsuka under which Perception granted exclusive rights to Otsuka to develop and commercialize products containing arketamine, known as PCN-101 in Japan for the treatment of any depression, including treatment-resistant depression, or major depressive disorder or any of their related symptoms or conditions at its own cost and expense. Perception retained all rights to PCN-101 outside of Japan.

Upon execution of the Otsuka Agreement, Perception received an upfront, non-refundable payment of $20.0 million. Perception is also entitled to receive aggregate payments of up to $35.0 million if certain development and regulatory milestones are achieved for the current or a new intravenous formulation of a product and up to $66.0 million in commercial milestones upon the achievement of certain commercial sales thresholds. Otsuka is obligated to pay Perception a tiered, double-digit royalty on net sales of products containing PCN-101 in Japan, subject to reduction in certain circumstances. In January 2025, Otsuka provided a notice of termination pursuant to the Otsuka Agreement, effective April 24, 2025. Following the effective termination date, the Company will no longer be eligible to receive any milestone payments or royalties pursuant to the Otsuka Agreement.

For the three months ended March 31, 2025 and 2024 there were no milestones achieved or revenue recognized under the Otsuka Agreement, respectively.

Rizafilm LLC License and Supply Agreement

In January 2025, the Company, through its wholly-owned subsidiary IGX, entered into an Amended & Restated Asset Purchase Agreement ("APA") and an Amended & Restated Supply Agreement ("Supply Agreement") with Rizafilm LLC ("Rizafilm"). Under the APA, IGX sold licensing and intellectual property rights of IGX's oral thin film technology in exchange for an upfront payment of $0.2 million and an additional $0.5 million upon completion of certain manufacturing milestones. Under the Supply Agreement, subject to approval by the FDA, IGX will serve as the sole manufacturer of Rizafilm's products over a five year term with an automatic renewal option for an additional five years unless either party provides sufficient written notice. Additionally, the Supply Agreement requires Rizafilm to adhere to certain firm commitments.

During the three months ended March 31, 2025, the Company recognized $0.2 million of the upfront fee paid by Rizafilm as license revenue. Also, for the three months ended March 31, 2025, no purchase orders have been placed by Rizafilm in connection with the Supply Agreement.

Research and Development Services Revenue

In addition to the Company's license revenue, the Company recognizes revenue through various research and development agreements through IGX. In these agreements, IGX is responsible for performing research and development services for customers interested in leveraging IGX's novel oral thin film technology for drug delivery. Many of these agreements provide IGX either the option or the right to serve as the sole manufacturer of these drugs upon regulatory approval. For the three months ended March 31, 2025 and 2024, the Company has recognized $1.4 million and zero in revenue from research and development services. To date, none of the products subject to the Company's research and development agreements through IGX have obtained regulatory approval.

As of March 31, 2025 and December 31, 2024, the Company had contract liabilities of $0.4 million and $0.7 million, respectively, which is recorded within Other current liabilities on the Company's unaudited condensed consolidated balance sheets, and consists of the upfront payments received as part of the various research and development agreements discussed above. As of March 31, 2025, approximately $0.4 million of the contract liability balance is expected to be recognized as revenue from the remaining performance obligations over the next 12 months as performance obligations are satisfied. The Company will re-evaluate the transaction price in each reporting period and as certain events are resolved or other changes in circumstances occur.

For the three months ended March 31, 2025, the Company's license revenue and research and development revenue has been recognized in Canada.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Leases (Additional Information) (Details) $ in Thousands	Mar. 31, 2025 USD ($)	Feb. 28, 2025 USD ($)	Dec. 31, 2024 USD ($)	Oct. 02, 2024 ft²
Property, Plant and Equipment [Line Items]
Lessee, Finance Lease, Renewal Term	5 years
Right-of-use assets, net \| $	$ 2,905	$ 1,700	$ 1,334
Operating Lease, Weighted Average Remaining Lease Term	5 years
Operating Lease, Weighted Average Discount Rate, Percent	10.30%
CANADA \| Manufacturing Facility [Member]
Property, Plant and Equipment [Line Items]
Area of Land \| ft²				43,000

Intangible Assets, Goodwill, and Digital Assets (Tables)

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated future amortization expense for intangible assets subsequent to March 31, 2025 is as follows (in thousands):



2025	$	323
2026		289
2027		249
2028		249
2029		249
Thereafter		1,299
	$	2,658

Schedule of Impaired Intangible Assets

Intangible assets consisted of the following (in thousands):


		March 31, 2025							December 31, 2024
	Remaining Useful Lives	Cost		Accumulated Amortization			Net Carrying Amount		Cost		Accumulated Amortization			Impairment			Net Carrying Amount
OTF Technology	10 years	$	2,433	$	(113	)	$	2,320	$	2,433	$	(57	)	$	—		$	2,376
gBelBuca manufacturing contract	19 years		192		(5	)		187		192		(2	)		—			190
Internal-use software	2 years		647		(496	)		151		647		(466	)		—			181
In-process research and development	indefinite-lived		142		—			142		1,059		—			(917	)		142
Other	various		368		(11	)		357		368		(11	)		—			357
Total		$	3,782	$	(625	)	$	3,157	$	4,698	$	(536	)	$	(917	)	$	3,246

Shedule of Activity Related to the Company"s Digital Assets

The details of the activity related to the Company’s digital assets as of March 31, 2025 and December 31, 2024, are as follows (fair value in thousands):


	Units		Fair Value
Digital assets at December 31, 2024		—	$	—
Additions		58.0		5,000
Unrealized loss		—		(212	)
Digital assets at March 31, 2025		58.0	$	4,788

Acquisitions - Schedule of preliminary allocation of the IGX purchase price to the estimated fair value of the net assets acquired at the acquisition date (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Feb. 28, 2025	Dec. 31, 2024
Assets acquired:
Prepaid expenses and other current assets	$ 7,774		$ 7,795
Property and Equipment	3,200		2,933
Right-of-use assets, net	2,905	$ 1,700	1,334
Total assets	195,783		159,387
Liabilities assumed:
Accounts payable	2,705		2,616
Other current liabilities	2,335		2,647
Total liabilities	43,509		42,833
Goodwill	331		$ 331
IntelGenx Corp [Member]
Assets acquired:
Cash	359
Accounts receivable	46
Prepaid expenses and other current assets	971
Property and Equipment	1,892
Right-of-use assets, net	527
Definite-lived intangible assets	2,625
Other assets	275
Total assets	6,695
Liabilities assumed:
Accounts payable	214
Deferred revenue	575
Accrued liabilities	136
Right-of-use liabilities	327
Other current liabilities	59
Total liabilities	1,311
Total identifiable net assets acquired	5,384
Goodwill	331
Total consideration transferred	$ 5,715

Defined Contribution Plan (Additional Information) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Retirement Benefits [Abstract]
Labor and Related Expense	$ 0.1	$ 0.2

Stock-Based Compensation - Summary of Share Based Payment Arrangement Option Activity (Detail) - Service And Performance Based Options [Member] - Two Thousand And Twenty Incentive Plan [Member] - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2025

Dec. 31, 2024

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Number Of Options Outstanding as of December 31, 2024

40,042,922

Number of Options, Granted

^[1]

9,345,259

Number of Options, Exercised

(627,655)

Number of options, Cancelled or forfeited

(3,330,628)

Number of options Outstanding as of March 31, 2025

45,429,898

^[2]

40,042,922

Number of Options exercisable as of March 31, 2025

24,143,992

Weighted-Average Exercise Price as of December 31, 2024

$ 3.81

Weighted-Average Exercise Price, Granted

1.55

Weighted-Average Exercise Price, Exercised

0.63

Weighted-Average Exercise Price, Cancelled or forfeited

4.65

Weighted-Average Exercise Price as of March 31, 2025

3.32

$ 3.81

Weighted-Average Exercise Price Options exercisable as of March 31, 2025

$ 4.42

Weighted-Average Remaining Contractual Term (Years)

7 years 7 months 24 days

7 years 3 months 14 days

Weighted-Average Remaining Contractual Term (Years), Options exercisable as of March 31, 2025

6 years 6 months 7 days

Aggregate Intrinsic Value, Outstanding

$ 4,908

$ 5,119

Aggregate Intrinsic Value, Options exercisable as of March 31, 2025

$ 4,359

[1]

[2]

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit	Total Stockholders' Equity Attributable to ATAI Life Sciences N.V. Stockholders	Noncontrolling Interests
Partners' Capital, Beginning Balance at Dec. 31, 2023	$ 244,316	$ 18,573	$ 794,787	$ (19,460)	$ (550,938)	$ 242,962	$ 1,354
Beginning Balance, Shares at Dec. 31, 2023		166,026,396
Issuance of shares upon restricted stock units vest		$ 27	(27)
Issuance of shares upon restricted stock units vest, shares		248,030
Stock-based compensation expense	5,760		5,760			5,760
Foreign currency translation adjustment, net of tax	559			535		535	24
Net loss	(27,378)				(26,713)	(26,713)	(665)
Partners' Capital, Ending Balance at Mar. 31, 2024	223,257	$ 18,600	800,520	(18,925)	(577,651)	222,544	713
Ending Balance, Shares at Mar. 31, 2024		166,274,426
Partners' Capital, Beginning Balance at Dec. 31, 2024	116,554	$ 18,785	816,185	(18,466)	(700,207)	116,297	257
Beginning Balance, Shares at Dec. 31, 2024		167,959,752
Issuance of shares upon exercise of stock options	397	$ 67	330			397
Issuance of shares upon exercise of stock options, shares		627,655
Issuance of shares upon restricted stock units vest		$ 118	(118)
Issuance of shares upon restricted stock units vest, shares		1,069,057
Stock issued during period, Value	59,117	$ 3,151	55,966			59,117
Issuance of common shares, net of issuance costs ,Shares		30,119,048
Stock-based compensation expense	3,355		3,355			3,355
Foreign currency translation adjustment, net of tax	(684)			(682)		(682)	(2)
Net loss	(26,465)				(26,431)	(26,431)	(34)
Partners' Capital, Ending Balance at Mar. 31, 2025	$ 152,274	$ 22,121	$ 875,718	$ (19,148)	$ (726,638)	$ 152,053	$ 221
Ending Balance, Shares at Mar. 31, 2025		199,775,512

Fair Value Measurement

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Fair Value Measurement

8. Fair Value Measurement


	Fair Value Measurements as of
	March 31, 2025
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	31,570	$	—	$	—	$	31,570
Investment in securities at fair value:
U.S. treasuries		—		49,917		—		49,917
Digital assets		4,788		—		—		4,788
Other investments held at fair value		19,751		—		3,302		23,053
	$	56,109	$	49,917	$	3,302	$	109,328
Liabilities:
Short-term convertible promissory note conversion option - related party	$	—	$	—	$	1,044		1,044
Short-term convertible promissory note conversion option		—		—		1,689		1,689
Contingent consideration liability - related party		—		—		110		110
Contingent consideration liabilities		—		—		212		212
	$	—	$	—	$	3,055	$	3,055


	Fair Value Measurements as of
	December 31, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	6,196	$	—	$	—	$	6,196
Investment in securities at fair value:
U.S. treasuries		—		44,825		—		44,825
Other investments held at fair value		26,104		—		2,783		28,887
	$	32,300	$	44,825	$	2,783	$	79,908
Liabilities:
Short-term convertible promissory note conversion option - related party	$	—	$	—	$	995	$	995
Short-term convertible promissory note conversion option		—		—		1,616		1,616
Contingent consideration liability - related party		—		—		110		110
Contingent consideration liabilities		—		—		212		212
	$	—	$	—	$	2,934	$	2,934

Investment in securities at fair value

The Company elected the fair value option for the securities in its investment portfolio. The fair value is based on quoted market prices, when available. When a quoted market price is not readily available, the Company uses the market price from its last sale of similar assets. The cash and cash equivalents held by the Company are categorized as Level 1 investments as quoted market prices are readily available for these investments. All other investments in the investment portfolio are categorized as Level 2 investments as inputs utilized to fair value these securities are either directly or indirectly observable, such as the market price from the last sale of similar assets.

The unrealized gains and losses on the available-for-sale securities, represented by change in the fair value of the investment portfolio, is reported in earnings. Since the investment in the available-for-sale securities are already measured at fair value, no separate credit losses would be recorded in the financials.

For the three months ended March 31, 2025 and 2024, the Company recognized a $0.5 million and $1.3 million gain, respectively, related to the change in fair value in its available for sale securities recognized as a Change in fair value of assets and liabilities, net in its unaudited condensed consolidated statements of operations.

Digital assets

In March 2025, the Company invested in Bitcoin to diversify its treasury investment strategy. Under ASC 350-60, the Company’s digital assets are measured at fair value based on quoted prices on active exchanges, and are therefore categorized as Level 1 investments in the fair value hierarchy. The Company recognizes changes in the fair value of its digital assets as gains or losses in Change in fair value of digital assets on the Company's unaudited condensed consolidated statements of operations during the period in which they occur.

For the three months ended March 31, 2025, the Company recognized a $0.2 million loss related to the change in fair value in its Bitcoin holding recognized as a Change in fair value of digital assets in its unaudited condensed consolidated statements of operations.

Other investments held at fair value

COMPASS Pathways plc

As described in Note 6 above, following COMPASS' August 2023 financing, the Company determined that it no longer had significant influence over COMPASS and accounted for its COMPASS investment at fair value under ASC 321 with any changes in fair value recorded as a Change in fair value of assets and liabilities, net in its consolidated statements of operations. The Company determines the fair value of its COMPASS investment by taking the publicly available share price as of the balance sheet date multiplied by the number of shares the Company holds. There are no non-observable inputs in determining the fair value. For the three months ended March 31, 2025 and 2024, the Company recognized a $6.3 million loss and a $4.1 million loss within Change in fair value of assets and liabilities, net, respectively.

Beckley Psytech

As described in Note 6, the Company determined that the Additional Warrants meet the definition of a derivative instrument under ASC 815 and recorded the Additional Warrants at fair value with subsequent changes in fair value being reflected through the unaudited condensed consolidated statements of operations in the Change in fair value of assets and liabilities, net. For the three months ended March 31, 2025 and 2024, the Company recorded a $0.5 million gain and an immaterial amount, respectively, in the Change in fair value of assets and liabilities, net in its unaudited condensed consolidated statements of operations.

The fair value of the Beckley Additional Warrants was calculated using the following significant unobservable inputs:


		March 31, 2025	December 31, 2024

Valuation Technique	Significant Unobservable Inputs	Input Range	Input Range
Black-Scholes	Option pricing approach:
	Probability of issuances under deferred equity arrangement	55% - 80%	55% - 80%
	Volatility	100%	95%

IntelGenx Technologies Corp.

IntelGenx equity investments

As described in Note 6, prior to the completion of the Company's acquisition of IGX in October 2024, the Company's investment in IntelGenx included common shares, 2023 Initial Warrants, 2023 Subsequent Warrants, and 2024 Warrants, (the 2023 Initial Warrants, 2023 Subsequent Warrants, and 2024 Warrants are collectively referred to as the “Warrants”), and Call Option. The fair value of these instruments were estimated based on significant inputs not observable in the market, which represents a Level 3 measurement within the fair value hierarchy.

Considering relevant facts and circumstances, the Company estimated a zero fair value to be attributable to the Warrants and the Call Option as of March 31, 2025 and December 31, 2024, respectively. For the three months ended March 31, 2024, the Company recognized a $1.4 million gain in Change in fair value of assets and liabilities, net relating to the IntelGenx equity instruments in its unaudited condensed consolidated statements of operations. For more information regarding the Company's equity investments, refer to Notes 7 in the Company's audited consolidated financial statements included in the Company’s Annual Report on Form 10-K filed with the SEC on March 17, 2025.

IntelGenx notes receivable

As described in Note 7, prior to October 2024, the Company's notes receivable with IntelGenx included the IntelGenx Term Loan, the 2023 Initial Notes, the 2023 Subsequent Notes, the DIP Loan, and the 2023 Term Loan Note. The fair value of these instruments were estimated based on significant inputs not observable in the market, which represents a Level 3 measurement within the fair value hierarchy.

Considering relevant facts and circumstances, the Company estimated the fair value attributable to the various notes receivables with IntelGenx based on the remaining fair value of the underlying collateral. As the 2023 Initial Notes, 2023 Subsequent Notes, and the 2023 Term Loan Note were not secured by the underlying collateral, the Company determined the fair value of IntelGenx Unsecured Debt to be zero as of March 31, 2025 and December 31, 2024, respectively. For the three months ended March 31, 2024, the Company recognized a

$1.7 million gain in Change in fair value of assets and liabilities, net relating to the IntelGenx notes receivable in its unaudited condensed consolidated statements of operations. For more information regarding the Company's equity investments, refer to Notes 7 in the Company's audited consolidated financial statements included in the Company’s Annual Report on Form 10-K filed with the SEC on March 17, 2025.

Contingent consideration liability – related party

The contingent consideration liability - related party in the fair value measurement table in this Note 8 above relate to milestone and royalty payments in connection with the acquisition of Perception Neuroscience Holdings, Inc. (“Perception”). The fair value of the contingent consideration liabilities—related parties was determined based on significant inputs not observable in the market, which represent Level 3 measurements within the fair value hierarchy. The fair value of the contingent milestone and royalty liabilities was estimated based on the discounted cash flow valuation technique. The technique considered the following unobservable inputs:

•

the probability and timing of achieving the specified milestones and royalties as of each valuation date,

•

the probability of executing the license agreement,

•

the expected first year of revenue, and

•

market-based discount rates.

Perception

The fair value of the Perception contingent milestone and royalty liabilities could change in future periods depending on prospects for the outcome of R-Ketamine milestone meetings with the FDA or other regulatory authorities, and whether the Company realizes a significant increase or decrease in sales upon commercialization. The most significant assumptions in the discounted cash flow valuation technique that impacts the fair value of the milestone contingent consideration are the projected milestone timing and the probability of the milestone being met. Further, significant assumptions in the discounted cash flow that impacts the fair value of the royalty contingent consideration are the projected revenue over ten years, the timing of royalties on commercial revenue, and the probability of success rate for a commercial R-Ketamine product. The valuations as of March 31, 2025 and December 31, 2024, respectively, used inputs that were unobservable inputs with the most significant being the discount rates for royalties on projected commercial revenue and clinical milestones and probability of success estimates over the following ten years, which represent Level 3 measurements within the fair value hierarchy.

The fair value of the contingent milestone and royalty liabilities for Perception was estimated to be $0.1 million and $0.1 million as of March 31, 2025 and December 31, 2024, respectively.

The fair value of the Perception contingent consideration liability – related parties was calculated using the following significant unobservable inputs:


		March 31, 2025	December 31, 2024

Valuation Technique	Significant Unobservable Inputs	Input Range	Input Range
Discounted cash flow	Milestone contingent consideration:
	Discount rate	11.6%	11.6%
	Probability of the milestone	5.0%	5.0%
Discounted cash flow with scenario-based method	Royalty contingent consideration:
	Discount rate for royalties	3.8% - 4.3%	3.8% - 4.3%
	Discount rate for royalties on milestones	3.8% - 4.3%	3.8% - 4.3%
	Probability of success rate	5.0%	5.0%

Contingent Consideration Liabilities

The contingent consideration liabilities in the fair value measurement table in this Note 8 above relates to milestone payments in connection with the acquisition of DemeRx IB, Inc. ("DemeRx"), and TryptageniX. The fair value of the contingent consideration liabilities were determined based on significant inputs not observable in the market, which represent Level 3 measurements within the fair value hierarchy. The fair value of the contingent milestone and royalty liabilities was estimated based on the discounted cash flow valuation technique. The technique considered the following unobservable inputs:

•

market-based discount rates, and

•

the probability and timing of achieving the specified milestones as of each valuation date.

DemeRx

In October 2023, the Company and DemeRx, Inc. entered into a Stock Purchase and Framework Agreement which resulted in the Company's acquisition of DemeRx, Inc.’s equity ownership of DemeRx IB (the “Stock Purchase”), in exchange for consideration that included, among other items, earn-out consideration of up to an additional $8.0 million payable to DemeRx, Inc. contingent upon the achievement of certain development milestones directly related to DemeRx’s oral capsule formulation of ibogaine (“DMX-1002”) program. The earn-out consideration was recorded at fair value in contingent consideration as a liability under ASC 480 and the fair value is adjusted each quarter and reflected in other income and expense in the statement of operations.

The fair value of the DemeRx contingent milestone could change in future periods depending on prospects for the outcome of ibogaine milestone meetings with the FDA or other regulatory authorities. The most significant assumptions in the discounted cash flow valuation technique that impacts the fair value of the milestone contingent consideration are the projected milestone timing and the probability of the milestone being met. The valuations as of March 31, 2025 and December 31, 2024 used inputs that were unobservable inputs with the most significant being the discount rates and the probability of success of certain clinical milestones, which represent Level 3 measurements within the fair value hierarchy.

The fair value of the contingent milestone for DemeRx was estimated to be $0.2 million and $0.2 million as of March 31, 2025 and December 31, 2024, respectively.

The fair value of the DemeRx contingent consideration liability – related parties was calculated using the following significant unobservable inputs:


		March 31, 2025	December 31, 2024

Valuation Technique	Significant Unobservable Inputs	Input Range	Input Range
Discounted cash flow	Milestone contingent consideration:
	Discount rate	11.7%-11.8%	11.7%-11.8%
	Probability of the milestone	4.0% - 5.0%	4.0% - 5.0%

TryptageniX

The fair value of the contingent liability for TryptageniX was estimated to be an immaterial amount as of March 31, 2025 and December 31, 2024. The contingent liability is comprised of R&D milestone success fee payments and royalties payments. The fair value of the success fee liability was estimated based on the scenario-based method within the income approach. The fair value of the contingent liability for TryptageniX was determined based on significant unobservable inputs, including the discount rate, estimated probabilities of success, and timing of achieving certain clinical milestones. The fair value of the royalties liability was determined to be de minimis as the products are in the early stages of development. The Company will continue to assess the appropriateness of the fair value of the contingent liability as the products continue through development.

Convertible Promissory Note

As described in Note 14, in December 2023 and April 2024, the Company entered into subscription agreements with each of a noteholder and a related party noteholder, respectively (together the "Subscription Agreements") whereby each of the noteholder and the related party noteholder exchanged their ATAI Life Sciences AG notes (the "Old AG Notes") into the same principal amount of new convertible notes issued by ATAI Life Sciences N.V. (the "New NV Notes"). The exchange resulted in the New NV Notes conversion option no longer meeting the equity classification criteria. Accordingly, at the time of the exchange modification, the Company bifurcated the conversion option and reclassified the conversion option fair value from equity to a liability and is included in Short-term convertible promissory notes and derivative liability and Short-term convertible promissory notes and derivative liability - related party, respectively, in the unaudited condensed consolidated balance sheets. The conversion option is measured at fair value on a quarterly basis and any changes in the fair value will be recorded as Change in fair value of assets and liabilities, net, a component of other income (expense), net in the unaudited condensed consolidated statements of operations. For the three months ended March 31, 2025 and 2024, the Company recognized a loss of $0.1 million and $1.7 million, respectively, as a result of the change in fair value of the New NV Notes.

The conversion option fair value was estimated utilizing the Black-Scholes option pricing model and is classified as Level 3 in the fair value hierarchy based on the nature of the inputs and valuation techniques. The Black-Scholes option pricing model is based on the estimated market value of the underlying common stock at the valuation measurement date, the remaining contractual term of the conversion feature, risk-free interest rates, expected dividends, and expected volatility of the price of the underlying common stock. The expected volatility is based upon the historical volatility of daily lognormal returns on atai shares.

A significant input that is included in the valuation of the conversion feature as of March 31, 2025 and December 31, 2024 is volatility of 100.0% and 75.0%, respectively.

The following table provides a roll forward of the aggregate fair values of the Company’s financial instruments described above, for which fair value is determined using Level 3 inputs (in thousands):


	Beckley Psytech Additional Warrants		Contingent Consideration Liabilities - Related Parties (i)		Contingent Consideration Liabilities (ii)		New NV Notes Conversion Feature
Balance as of December 31, 2024	$	2,783	$	110	$	212	$	2,611
Change in fair value, including interest		519		—		—		122
Balance as of March 31, 2025	$	3,302	$	110	$	212	$	2,733

(i) Includes Perception milestone based contingent consideration liability.
(ii) Includes contingent consideration liability related to DemeRx IB Stock Purchase as well as contingent consideration liability related to the TryptageniX research and development milestone success fee payments and royalties payments.


	IntelGenx Convertible Notes Receivable		IntelGenx Investments Held at Fair Value (i)		Contingent Consideration Liability - Related Parties (ii)			Contingent Consideration Liability (iii)			New NV Notes Conversion Feature		Beckley Psytech Additional Warrants
Balance as of December 31, 2023	$	11,202	$	6,124	$	620		$	1,637		$	2,385	$	—
Initial fair value of instrument		988		420		—			—			—		2,645
Change in fair value, including interest		1,712		1,429		(13	)		(231	)		1,734		—
Balance as of March 31, 2024	$	13,902	$	7,973	$	607		$	1,406		$	4,119	$	2,645

(i) Includes, Initial Warrants, Additional Unit Awards, 2023 Initial Warrants, 2023 Subsequent Warrants, and Call Option Units.
(ii) Includes Perception's milestone-based contingent consideration liability.
(iii) Includes the contingent consideration liability related to DemeRx IB Stock Purchase and the contingent consideration liability related to the TryptageniX
research and development milestone success fee payments and royalties payments.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
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-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
-Section 55
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-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Paragraph 6A
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

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-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

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+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 48,287	$ 17,505
Securities carried at fair value	49,917	44,825
Short-term restricted cash for other investments	10,000	10,000
Prepaid expenses and other current assets	7,774	7,795
Total current assets	115,978	80,125
Property and equipment, net	2,682	2,535
Operating lease right-of-use asset, net	2,905	1,334
Other Investments held at fair value	23,053	28,887
Other investments	42,079	42,079
Intangible assets, net	3,157	3,246
Goodwill	331	331
Digital assets	4,788	0
Other assets	810	850
Total assets	195,783	159,387
Current liabilities:
Accounts payable	2,705	2,616
Accrued liabilities	8,680	9,847
Current portion of lease liabilities	287	477
Short-term convertible promissory notes and derivative liability - related party	1,205	1,150
Short Term Convertible Promissory Notes and Derivative Liability	1,923	1,840
Current portion of long-term debt	11,366	6,374
Other current liabilities	2,335	2,647
Total current liabilities	28,501	24,951
Contingent consideration liability - related party	110	110
Contingent Consideration Liability	212	212
Noncurrent portion of lease liability	2,587	732
Long-term debt, net	9,300	14,133
Other liabilities	2,799	2,695
Total liabilities	43,509	42,833
Commitments and Contingencies
Equity, Attributable to Parent [Abstract]
Common stock, 0.10 par value ($0.11 and $0.12 par value at March 31, 2025 and December 31, 2024, respectively); 750,000,000 shares authorized at March 31, 2025 and December 31, 2024, respectively; 199,775,512 and 167,959,752 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively	22,121	18,785
Additional paid-in capital	875,718	816,185
Accumulated other comprehensive loss	(19,148)	(18,466)
Accumulated deficit	(726,638)	(700,207)
Total stockholders' equity attributable to ATAI Life Sciences N.V. stockholders	152,053	116,297
Noncontrolling interests	221	257
Total stockholders equity	152,274	116,554
Total liabilities and stockholders' equity	$ 195,783	$ 159,387

Segment Reporting

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Segmental Reporting

24. Segment Reporting

The Company's operations are organized into one operating and reportable segment dedicated to the global discovery, research, development, and commercialization of highly effective mental health treatments to transform patient outcomes. The Company's Chief Executive Officer is the Company's Chief Operating Decision Maker (“CODM”) and makes key operating decisions and assesses performance on a consolidated basis. The Company's determination that it operates as a single operating segment is consistent with the financial information regularly reviewed by the CODM.

The Company's primary operations are located in the United States, Germany, and Canada. The measure of segment assets is reported on the Company's consolidated balance sheets as total assets. Refer to Note 10 for more information regarding the Company's property and equipment assets by geographic region.

The Company has not generated any revenues to date from the sale of its product candidates and does not anticipate generating any revenues from the sale of its product candidates unless and until it successfully completes development and obtains regulatory approval to market its product candidates. The Company does recognize revenue through its licenses of intellectual property and development agreements. Refer to Notes 3 and 20 for more information.

For the Company's single reportable segment, the CODM uses net loss that is reported on the consolidated statements of operations to allocate resources, predominantly during the annual budget and forecasting process. The CODM also uses non-financial inputs and qualitative information to evaluate the Company's performance, establish compensation, monitor budget versus actual results, and decide the level of investment in the Company's various operating activities and other capital allocation activities.

The Company's reportable segment net loss, including significant segment expenses, for the three months ended March 31, 2025 and 2024 consisted of the following (in thousands):


	For the three months ended March 31,
	2025			2024
License revenue	$	202		$	—
Research and development services revenue		1,353			—
Total revenue	$	1,555		$	—
Research and Development
VLS-01		2,341			2,088
EMP-01		370			517
RL-007		2,046			1,855
Discovery (Non-hallucinogenic)		354			60
Other programs(i)		1,176			1,267
Personnel and employee-related expenses(ii)		2,902			2,919
Non-cash share-based compensation expense		962			2,141
Depreciation and Amortization		58			—
Other Expenses(iii)		1,119			683
General and Administrative
Personnel and employee-related expenses(ii)		3,325			4,066
Non-cash share-based compensation expense		2,385			3,267
Accounting and Tax Fees		1,107			1,786
Legal & Intellectual Property Fees		1,939			1,352
Insurance		422			861
Depreciation and Amortization		158			83
Other Expenses(iii)		1,261			1,140
Interest income		186			307
Interest expense		(900	)		(687	)
Other segment items(iv)		(5,381	)		(2,913	)
Segment and consolidated net loss	$	(26,465	)	$	(27,378	)

(i) Includes direct expenses related to PCN-101, KUR-101, RLS-01, EGX-121, IGX, enabling technologies, and other discovery programs.
(ii) Includes labor, benefits, and personnel-based restructuring expenses.
(iii) Includes, professional consulting services, facilities costs, technology and communication costs, and miscellaneous fees.
(iv) Includes benefit from research and development tax credit, change in fair value of assets and liabilities, net, change in fair value of digital assets, foreign exchange gains (losses), net, benefit (provision) for income taxes, and losses from investments in equity method investees, net of tax.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Intangible Assets, Goodwill, and Digital Assets - Intangible Assets Consisted (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Mar. 31, 2025
Finite-Lived Intangible Assets [Line Items]
Cost	$ 4,698	$ 3,782
Accumulated Amortization	(536)	(625)
Impairment	(917)
Intangible assets, net	3,246	$ 3,157
OTF Technology Member
Finite-Lived Intangible Assets [Line Items]
Remaining Useful Lives		10 years
Cost	2,433	$ 2,433
Accumulated Amortization	(57)	(113)
Impairment	0
Intangible assets, net	2,376	$ 2,320
gBelBuca manufacturing contract Member
Finite-Lived Intangible Assets [Line Items]
Remaining Useful Lives		19 years
Cost	192	$ 192
Accumulated Amortization	(2)	(5)
Impairment	0
Intangible assets, net	190	$ 187
Internal use software Member
Finite-Lived Intangible Assets [Line Items]
Remaining Useful Lives		2 years
Cost	647	$ 647
Accumulated Amortization	(466)	(496)
Impairment	0
Intangible assets, net	181	151
In Process Research and Development Member
Finite-Lived Intangible Assets [Line Items]
Cost	1,059	142
Accumulated Amortization	0	0
Impairment	(917)
Intangible assets, net	142	142
Other Member
Finite-Lived Intangible Assets [Line Items]
Cost	368	368
Accumulated Amortization	(11)	(11)
Impairment	0
Intangible assets, net	$ 357	$ 357

Subsequent Events - Additional Information (Detail) - USD ($) $ in Millions	Apr. 01, 2025	May 02, 2025	Mar. 31, 2025
Outstanding principal balance			$ 175.0
Hercules Loan Agreement [Member] \| Subsequent Event [Member]
Long term notes receivable - related parties, net		$ 21.8
Offset interest due Under full amortization payment		2.1
Outstanding principal balance		$ 0.1
Beckley Psytech Escrow Agreement [Member] \| Subsequent Event [Member]
Drewings From Escrow Account	$ 10.0
Beckley Psytech Escrow Agreement [Member] \| Series Stock [Member] \| Subsequent Event [Member]
Series C shares credited to company	6,024,096

Net Loss Per Share - Summary of Basic and Diluted Net Loss Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Numerator:
Net loss	$ (26,465)	$ (27,378)
Net loss attributable to noncontrolling interests	(34)	(665)
Net loss attributable to ATAI Life Sciences N.V. shareholders - basic	(26,431)	(26,713)
Net loss attributable to ATAI Life Sciences N.V. shareholders - diluted	$ (26,431)	$ (26,713)
Denominator:
Weighted average common shares outstanding attributable to ATAI Life Sciences N.V.Stockholders - basic	176,271,176	158,891,067
Weighted average common shares outstanding attributable to ATAI Life Sciences N.V. Stockholders - diluted	176,271,176	158,891,067
Net loss per share attributable to ATAI Life Sciences N.V. shareholders - basic	$ (0.15)	$ (0.17)
Net loss per share attributable to ATAI Life Sciences N.V. shareholders - diluted	$ (0.15)	$ (0.17)

Organization and Description of Business - Additional Information (Detail) $ / shares in Units, $ in Thousands	Mar. 31, 2025 € / shares	Mar. 31, 2025 USD ($) $ / shares	Dec. 31, 2024 € / shares	Dec. 31, 2024 USD ($) $ / shares
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Common stock, par value \| (per share)	€ 0.1	$ 0.11	€ 0.1	$ 0.1
Short-term debt securities		$ 49,900
Cash and cash equivalents		48,287		$ 17,505
Restricted cash		10,000
Accumulated deficit		$ (726,638)		$ (700,207)

- Definition

Amount of accumulated undistributed earnings (deficit).

+ References + Details

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) $ in Millions	3 Months Ended
	Mar. 31, 2025 USD ($)
Common Stock [Member]
Common stock issuance price, cash	$ 4.1

Revenue (Additional Information) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Jan. 31, 2025	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024
Disaggregation of Revenue [Line Items]
Contract liabilities		$ 2,335		$ 2,647
Otsuka Agreement
Disaggregation of Revenue [Line Items]
Revenue Related To Certain Research And Development		0	$ 0
Otsuka Agreement \| Otsuka [Member]
Disaggregation of Revenue [Line Items]
Performance obligation		20,000
Otsuka Agreement \| Otsuka [Member] \| Development And Regulatory Milestones [Member]
Disaggregation of Revenue [Line Items]
Milestone payments, receivable		35,000
Otsuka Agreement \| Otsuka [Member] \| Commercial Milestones [Member]
Disaggregation of Revenue [Line Items]
Milestone payments, receivable		66,000
Supply Agreement \| Rizafilm [Member]
Disaggregation of Revenue [Line Items]
Performance obligation	$ 200
License agreement terms	the Supply Agreement, subject to approval by the FDA, IGX will serve as the sole manufacturer of Rizafilm's products over a five year term with an automatic renewal option for an additional five years unless either party provides sufficient written notice.
Additional revenue recognition for sales licensing and intellectual property	$ 500
Upfront fee reveived		200
Research and development services revenue [Member]
Disaggregation of Revenue [Line Items]
Performance obligation		400
Revenue Related To Certain Research And Development		1,400	$ 0
Contract liabilities		$ 400		$ 700

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Operating Loss Carryforwards [Line Items]
Provision for income taxes	$ 156	$ (4)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

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+ Details

Investments (Tables)

3 Months Ended

Mar. 31, 2025

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Other Investments Held at Fair Value

As of March 31, 2025 and December 31, 2024, the carrying values of Other investments held at fair value were as follows (in thousands):


	March 31, 2025		December 31, 2024
COMPASS Pathways plc	$	19,751	$	26,104
Beckley Psytech Additional Warrants		3,302		2,783
Total	$	23,053	$	28,887

Summary of the carrying values of other investments

As of March 31, 2025 and December 31, 2024, the carrying values of other investments, which consisted of investments in the investee’s preferred stock not in the scope of ASC 323 were as follows (in thousands):


	March 31, 2025		December 31, 2024
Beckley Psytech Limited	$	42,079	$	42,079
Total	$	42,079	$	42,079

Stock-Based Compensation - Summery of Vested and Non vested Option Outstanding (Parenthetical) (Details) - Two Thousand And Twenty Incentive Plan [Member] - shares		3 Months Ended
	Jan. 01, 2026	Mar. 31, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Options, Granted		3,842,400
Number of options outstanding, including both vested and non-vested options.		21,285,906
Market-Based Conditions [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of options outstanding, including both vested and non-vested options.		1,016,094
One to four year service period [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of options outstanding, including both vested and non-vested options.		13,674,299
Three To Four Year Service Period [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of options outstanding, including both vested and non-vested options.		992,654
Two Year Service Period [Member] \| Market-Based Conditions [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based payment arrangement, Options expected to vest outstanding		100,000
Forecast [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of Options, Granted	5,502,859
Share based payment arrangements, Award vesting rights percentage	25.00%
Number of options outstanding, including both vested and non-vested options.	5,502,859

Commitments and Contingencies

3 Months Ended

Mar. 31, 2025

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

19. Commitments and Contingencies

Research and Development Agreements

The Company may enter into contracts in the normal course of business with clinical research organizations for clinical trials, with contract manufacturing organizations for clinical supplies and with other vendors for preclinical studies, supplies and other services and products for operating purposes.

Indemnification

In the ordinary course of business, the Company may provide indemnifications of varying scope and terms to vendors, lessors, business partners, supervisory board members, officers and other parties with respect to certain matters, including, but not limited to, losses arising out of breach of such agreements, services to be provided by the Company, negligence or willful misconduct of the Company, violations of law by the Company, or intellectual property infringement claims made by third parties. In addition, the Company has entered into indemnification agreements with supervisory directors and certain officers and employees that will require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as supervisory directors, officers or employees. No demands have been made upon the Company to provide indemnification under such agreements, and thus, there are no claims that the Company is aware of that could have a material effect on the Company’s consolidated financial statements.

The Company also maintains director and officer insurance, which may cover certain liabilities arising from its obligation to indemnify the Company’s directors. To date, the Company has not incurred any material costs and has not accrued any liabilities in the consolidated financial statements as a result of these provisions.

Contingencies

From time to time, the Company may become involved in legal proceedings arising in the ordinary course of business. The Company is unable to predict the outcome of these matters or the ultimate legal and financial liability, and at this time cannot reasonably estimate the possible loss or range of loss and accordingly has not accrued a related liability. At each reporting date, the Company evaluates whether or not a potential loss amount or a potential range of loss is probable and reasonably estimable under the provisions of the authoritative guidance that addresses accounting for contingencies. The Company accrues a liability when a loss is considered probable and the amount can be reasonably estimated. When a material loss contingency is reasonably possible but not probable, the Company does not record a liability, but instead discloses the nature and the amount of the claim, and an estimate of the loss or range of loss, if such an estimate can be made. Legal fees are expensed as incurred. Given that such proceedings are subject to uncertainty, there can be no assurance that such legal proceedings, either individually or in the aggregate, will not have a material adverse effect on our business, results of operations, financial condition or cash flows.

Notes Receivable

3 Months Ended

Mar. 31, 2025

Receivables [Abstract]

Notes Receivable

7. Notes Receivable

IntelGenx Technologies Corp.

Prior to the Company's acquisition of IGX in October 2024, the Company had outstanding loan agreements and convertible notes with IntelGenx, which are measured at fair value. The Company discharged its secured debt it held with IntelGenx, which included the DIP Loan and the IntelGenx Term Loan, in consideration of its acquisition of IGX. The Company continues to hold the 2023 Initial Notes, the 2023 Subsequent notes, and the IntelGenx 2023 Term Loan Note with IntelGenx, which continues to be subject to protections under the CCAA. The Company determined that the fair value of the 2023 Initial Notes, the 2023 Subsequent notes, and the 2023 Term Loan Note with IntelGenx was zero as of March 31, 2025 and December 31, 2024. For more information regarding the Company's notes receivable refer to Note 6 in the Company's audited consolidated financial statements included in the Company’s Annual Report on Form 10-K filed with the SEC on March 17, 2025.

For the three months ended March 31, 2024, the Company recognized a $1.7 million gain in Change in fair value of assets and liabilities, net relating to the IntelGenx notes receivable in its unaudited condensed consolidated statements of operations. Additionally, for the three months ended March 31, 2024, the Company recognized an immaterial amount of interest income associated IntelGenx notes receivables.

Investments

3 Months Ended

Mar. 31, 2025

Cash and Cash Equivalents [Abstract]

Investments

6. Investments

Other investments held at fair value

As of March 31, 2025 and December 31, 2024, the carrying values of Other investments held at fair value were as follows (in thousands):


	March 31, 2025		December 31, 2024
COMPASS Pathways plc	$	19,751	$	26,104
Beckley Psytech Additional Warrants		3,302		2,783
Total	$	23,053	$	28,887

COMPASS Pathways plc

COMPASS Pathways plc (“COMPASS”) is a mental health care company dedicated to pioneering the development of a new model of psilocybin therapy with its product COMP360. The Company first acquired investments in COMPASS in December 2018 with additional investments through 2021, and accounted for its investment under the equity method until August 2023. In August 2023, COMPASS closed a financing round, in which the Company did not participate, and the Company's ownership interest in COMPASS was reduced to 15.4%.

Following the August 2023 financing, the Company evaluated its ability to continue to exercise significant influence over its investment and determined that it no longer had significant influence and as such will account for its COMPASS investment under ASC 321 at fair value. Any changes in fair value of the Company's investment in COMPASS will be recorded as a Change in fair value of assets and liabilities, net in its unaudited condensed consolidated statements of operations.

Based on quoted market prices, the market value of the Company’s ownership in COMPASS was $19.8 million and $26.1 million as of March 31, 2025 and December 31, 2024, respectively. For the three months ended March 31, 2025 and 2024, the Company has recorded the change in fair value of other investments held at fair value in its unaudited condensed consolidated statements of operations of $6.3 million and $4.1 million, respectively.

IntelGenx Technologies Corp.

In October 2024, the Company acquired all issued and outstanding shares of IGX. As of March 31, 2025, the Company continues to hold multiple investments in IntelGenx which consist of common shares, 2023 Initial Warrants, 2023 Subsequent Warrants, and 2024 Warrants, (the 2023 Initial Warrants, 2023 Subsequent Warrants, and 2024 Warrants are collectively referred to as the “Warrants”), and Call Option Units, which are measured at fair value. As of March 31, 2025 and December 31, 2024, both the Warrants and Call Option have a fair value of zero as IntelGenx continues to be party to proceedings under the CCAA. For the three months ended March 31, 2024, the Company recognized a $1.4 million gain in Change in fair value of assets and liabilities, net relating to the IntelGenx equity instruments in its unaudited condensed consolidated statements of operations. For more information regarding the Company's investment in IntelGenx equity securities, refer to Notes 5 and 7 in the Company's audited consolidated financial statements included in the Company’s Annual Report on Form 10-K filed with the SEC on March 17, 2025.

Strategic Development Agreement

Prior to the Company's acquisition of IGX in October 2024 and pursuant to the Strategic Development Agreement, the Company engaged IntelGenx to conduct research and development projects (“Development Projects”) using IntelGenx’s proprietary oral thin film technology. Under the terms of the Strategic Development Agreement, the Company could select four (4) program products. As of the effective date of the Strategic Development Agreement, the Company nominated two (2) program products - DMT and Salvinorin A. 20% of any funds that IntelGenx received or will receive through the Company’s equity investment under the IntelGenx SPA will be available to be credited towards research and development services that IntelGenx conducts for the Company under the Development Projects. The Company is eligible to receive a total credit of $2.5 million. For the three months ended March 31, 2024, research and development expense relating to the Strategic Development Agreement was $0.1 million, which was applied as a reduction in research and development expenses in accordance with the Strategic Development Agreement. After the Company's acquisition of IGX in October 2024, any work performed with respect to the Development Projects is recorded as intercompany transactions and eliminated upon consolidation in accordance with the Company's accounting policies.

Other investments

The Company’s investments in the preferred stock of Innoplexus, GABA and Beckley Psytech Limited are not considered as in-substance common stock due to the existence of substantial liquidation preferences and therefore did not have subordination characteristics that were substantially similar to common stock.

During the three months ended March 31, 2025 and 2024, the Company evaluated all of its other investments to determine if certain events or changes in circumstance during these time periods in 2025 and 2024 had a significant adverse effect on the fair value of any of its

investments in non-consolidated entities. Based on its analysis, the Company did not note any impairment indicators associated with the Company’s Other investments.

During the three months ended March 31, 2025 and 2024 there were no observable changes in price recorded related to the Company’s Other investments.


	March 31, 2025		December 31, 2024
Beckley Psytech Limited	$	42,079	$	42,079
Total	$	42,079	$	42,079

Beckley Psytech Limited

Beckley Psytech Limited ("Beckley Psytech") is a clinical stage biotechnology company dedicated to improving the lives of people suffering from neuropsychiatric disorders by transforming psychedelics into effective and rapid-acting clinical medicines. Its most advanced programs are focused on the development of psychedelic-based medicines to treat people with treatment resistant depression and major depressive disorder.

Subscription and shareholders' agreement

On January 3, 2024, the Company entered into a subscription and shareholders' agreement with Beckley Psytech and certain other shareholders as identified in the agreement ("the SSA"). Pursuant to the terms of the SSA, the Company (a) has the right to acquire 24,096,385 newly issued series C preferred shares, par value £0.0001 per share, of Beckley Psytech (the “Series C Shares”) for a total purchase price of $40 million (the “Primary Investment”); and (b) undertakes to enter into a Share Purchase Deed (the “Secondary Sale SPA”) within 10 business days, pursuant to which the Company will acquire a total of 11,153,246 shares of Beckley Psytech from certain existing shareholders of Beckley Psytech (the “Secondary Sale” and together with the Primary Investment, the “Investment”), all of which will be re-designated into Series C Shares immediately prior to completion of the Secondary Sale.

In connection with the SSA, the Company acquired, pursuant to an equity warrant instrument between the Company and Beckley Psytech, 24,096,385 warrants to purchase an amount of Series C shares equal to the lesser of (i) 24,096,385 Series C Shares; or (ii) such number of Series C Shares (rounded up to the nearest whole number) as immediately after their issuance would, together with all shares held by the Company in the issued share capital of Beckley Psytech, equal less than 50% of Beckley Psytech’s fully diluted share capital, and each such warrant is exercisable at an exercise price of $2.158 per share ("Series C Warrants").

Also under the SSA, the Company has the right to receive additional warrants to purchase Series C Shares in the event Beckley Psytech issues equity or equity linked securities pursuant to a deferred equity arrangement in connection with a prior acquisition made by Beckley Psytech, each such warrant is exercisable at an exercise price of $1.66 per share. Each of the warrants described above are exercisable upon delivery of a written notice to Beckley Psytech (the "Additional Warrants").

Initial Subscription

On January 3, 2024, the Company made an initial payment of $25 million for 15,060,241 Series C Shares at a subscription share price of $1.66 (the “Initial Shares”) and delivered the executed deferred payment escrow agreement ("Escrow Agreement") to Beckley Psytech which was the condition for the closing of the transaction (the “Initial Subscription”).

Deferred Shares

On January 5, 2024, subject to the terms of the Escrow Agreement, the Company deposited $15.0 million into an escrow account. Prior to April 1, 2025, Beckley Psytech may, at its sole discretion, draw down up to $5.0 million from the escrow account, with the balance to be paid to Beckley Psytech at April 1, 2025. Beckley shall credit as fully-paid such corresponding number of Series C Shares as corresponds with the value of such draw-down. The total number of deferred payment shares ("Deferred Shares") is 9,036,144 with a share price of $1.66.

Secondary Sale

On January 18, 2024, the Company and Beckley Psytech entered into the Secondary Sale SPA pursuant to which the Company agreed to purchase 11,153,246, £0.0001 par value, re-designated Series C shares (the “Secondary Sale Shares”) at a price of $0.8966 per share from the existing shareholders for an aggregate consideration of $10.0 million. On January 18, 2024, the Secondary Sale Shares were acquired by the Company.

Upon each of closing of the Initial Subscription, execution of the Escrow Agreement, and acquisition of the Secondary Sale Shares, the Company recognized a fair value of $35.3 million in Other Investments in the consolidated balance sheets related to the Initial Shares, Secondary Shares, and Series C Warrants and a fair value of $2.6 million in Other investments held at fair value related to the Additional Warrants.

The Company qualified for and elected to account for the investment acquired per the SSA using the measurement alternative under ASC 321, and is included in Other Investments in the consolidated balance sheets. The Company applied a calibrated model for the $35.3 million investment, to account for the Initial Shares, option to purchase the Deferred Shares, Secondary Shares, and Series C Warrants, on a relative fair value basis resulting in no initial gain or loss recognized in the consolidated statements of operations.

Pursuant to the Escrow Agreement, the Company recognized the fair value of the Deferred Shares as additional consideration for its investment in Beckley as the fair value of the Deferred Shares was less than the purchase price of $1.66 per share. The Company recognized a $2.9 million liability for the Deferred Shares recorded within Other current liabilities in its unaudited condensed consolidated balance sheets. Upon Beckley drawing on the Escrow Agreement, the Company will reduce its liability related to the Deferred Shares and recognize gain or loss based on the fair value of the Series C shares as Other income (expense), net in the unaudited condensed consolidated statements of operations.

Escrow Agreement Draw

In October 2024, pursuant to the terms of the Escrow Agreement, Beckley Psytech, at its sole discretion, drew $5.0 million from the escrow account and the Company was credited 3,012,048 Series C shares. The Company determined that the fair value of the shares received was $5.3 million, which is recorded as Other investments in the unaudited condensed consolidated balance sheets. The Company reflects the remaining $10.0 million held in escrow in Short-term restricted cash for other investments within the consolidated balance sheets as of March 31, 2025. The Company reflects the remaining $1.9 million liability related to the Deferred Shares in Other current liabilities within the unaudited condensed consolidated balance sheets as of March 31, 2025.

Additional Warrants

The Company determined that the Additional Warrants meet the definition of a derivative instrument under ASC 815 and recorded the $2.6 million fair value at the SSA transaction date in Other investments held at fair value in the consolidated balance sheets, with subsequent changes in fair value being reflected through the unaudited condensed consolidated statements of operations in the Change in fair value of assets and liabilities, net.

In May 2024, Beckley Psytech issued equity pursuant to the deferred equity arrangement, and, per the SSA, the Company received 4,393,400 warrants. The Company determined that once it received the Additional Warrants, they no longer meet the definition of a derivative instrument under ASC 815. The Company qualified for and elected to account for the warrants under ASC 321, and recorded the warrants received in Other Investments in the unaudited condensed consolidated balance sheets. At the time of receipt, the warrants had a fair value of $1.5 million.

As of March 31, 2025 and December 31, 2024, the remaining Additional Warrants had a fair value of $3.3 million and $2.8 million, respectively, recorded in Other investments held at fair value in the unaudited condensed consolidated balance sheets. For the three months ended March 31, 2025 and 2024, the Company recorded a $0.5 million gain and an immaterial amount, respectively, in the Change in fair value of assets and liabilities, net in its unaudited condensed consolidated statements of operations.

GABA Therapeutics, Inc.

GABA is a California based biotechnology company focused on developing GRX-917 for the treatment of anxiety, depression and a broad range of other neurological disorders. The Company is deemed to have significant influence over GABA through its total ownership interest in GABA’s equity, including the Company’s investment in GABA’s common and preferred stock, and the Company’s noncontrolling representation on GABA’s board of directors.

The Company’s investment in GABA’s common stock was accounted for in accordance with the equity method, and the carrying value of the investment in GABA common stock was reduced to zero as of December 31, 2020 due to IPR&D charges with no alternative future use and remained zero as of March 31, 2025.

The Company’s 2019 investment of $5.5 million in GABA’s preferred stock did not meet the criteria for in-substance common stock, and the Company recognized its investment in GABA’s preferred stock under the measurement alternative pursuant to ASC 321.

As of March 31, 2025, the Company's remaining obligation to purchase additional shares of Series A preferred stock from GABA is for up to $0.9 million at the same price per share as its initial investment upon the achievement of specified contingent milestones.

GABA’s net losses attributable to the Company were determined based on the Company’s ownership percentage of preferred stock in GABA and recorded to the Company’s investments in GABA preferred stock. As of March 31, 2025 and December 31, 2024, the investment in GABA’s preferred stock had a carrying value of zero. During the three months ended March 31, 2025 and 2024, the Company recognized its proportionate share of GABA’s net loss of zero and $1.7 million, respectively, as Losses from investments in equity method investees, net of tax on the unaudited condensed consolidated statements of operations. For more information regarding the Company's investment in GABA, refer to Note 5 in the Company's audited consolidated financial statements included in the Company’s Annual Report on Form 10-K filed with the SEC on March 17, 2025.

Innoplexus AG

Innoplexus is a technology company that provides “Data as a Service” and “Continuous Analytics as a Service” solutions that aims to help healthcare organizations leverage their technologies and expedite the drug development process across all stages—preclinical, clinical, regulatory and commercial. The Company first acquired investments in Innoplexus in August 2018 with an additional investment in December 2020, bringing its aggregate ownership percentage to 35%. The Company's ownership percentage remains at 35% as of March 31, 2025

The Company had significant influence over Innoplexus through its noncontrolling representation on the investee’s supervisory board. Accordingly, the Company’s investment in Innoplexus’ common stock was accounted for in accordance with the equity method. The Company’s investment in Innoplexus’ preferred stock did not meet the criteria for in-substance common stock. As such, the investment in Innoplexus’ preferred stock was accounted for under the measurement alternative under ASC 321. The carrying value of the Company’s investment in Innoplexus was zero as of March 31, 2025 and December 31, 2024.

In February 2021, the Company entered into a Share Purchase and Assignment Agreement (the “Innoplexus SPA”) to sell its shares of common and preferred stock held in Innoplexus to a current investor of Innoplexus (the “Purchaser”) in exchange for an initial purchase price of approximately $2.4 million. In addition, the Company is entitled to receive contingent payments based on the occurrence of subsequent equity transactions or liquidity events at Innoplexus as determined under the Innoplexus SPA.

Pursuant to the Innoplexus SPA, the Purchaser is required to hold a minimum number of shares equivalent to the number of shares purchased from the Company through December 31, 2026. In the event that the Purchaser is in breach of this requirement, the Purchaser is required to pay the Company an additional purchase price of approximately $9.6 million. The transaction was accounted for as a secured financing as it did not qualify for sale accounting under ASC Topic 860, Transfers and Servicing (ASC 860), due to the provision under the Innoplexus SPA which constrained the Purchaser from its right to pledge or exchange the underlying shares and provided more than a trivial benefit to the Company. The initial proceeds from the transaction are reflected as a secured borrowing liability of $2.3 million and $2.2 million as of March 31, 2025 and December 31, 2024, respectively, which is included in Other liabilities in the Company’s unaudited condensed consolidated balance sheets.

In addition, the Innoplexus SPA also provides the right for the Company to receive additional consideration with a maximum payment outcome of $22.3 million should the equity value of Innoplexus exceed certain thresholds upon the occurrence of certain events. The Company concluded that this feature met the definition of a derivative which required bifurcation. As the probability of the occurrence of certain events defined in the Innoplexus SPA was less than remote, the Company concluded that the fair value of the embedded derivative ascribed to this feature was de minimis as of March 31, 2025.

Summarized Financial Information

The following is a summary of financial data for investments accounted for under the equity method of accounting (in thousands):

Balance Sheets


	March 31, 2025		December 31, 2024
	GABA		GABA
Current assets	$	175	$	112
Noncurrent assets		409		-
Total assets	$	585	$	112

Current liabilities	$	2,333	$	2,805
Noncurrent assets		820		-
Total liabilities	$	3,153	$	2,805

Statements of operations


	For the three months ended March 31, 2025			For the three months ended March 31, 2024
	GABA			GABA
Loss from continuing operations	$	(255	)	$	(1,701	)
Net loss	$	(255	)	$	(1,701	)

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Total revenue	$ 1,555	$ 0
Operating expenses:
Research and development	11,328	11,530
General and administrative	10,597	12,555
Total operating expenses	21,925	24,085
Loss from operations	(20,370)	(24,085)
Other expense, net:
Interest income	186	307
Interest expense	(900)	(687)
Benefit from research and development tax credit	28	205
Change in fair value of assets and liabilities, net	(5,497)	(1,200)
Change in fair value of digital assets	(212)	0
Foreign exchange gain (loss), net	456	(216)
Other expense, net	0	(5)
Total other expense, net	(5,939)	(1,596)
Net loss before income taxes	(26,309)	(25,681)
Benefit from (provision for) income taxes	(156)	4
Losses from investments in equity method investees, net of tax	0	(1,701)
Net loss	(26,465)	(27,378)
Net loss attributable to noncontrolling interests	(34)	(665)
Net loss attributable to ATAI Life Sciences N.V. stockholders	$ (26,431)	$ (26,713)
Net loss per share attributable to ATAI Life Sciences N.V. shareholders - basic	$ (0.15)	$ (0.17)
Net loss per share attributable to ATAI Life Sciences N.V. stockholders - diluted	$ (0.15)	$ (0.17)
Weighted average common shares outstanding attributable to ATAI Life Sciences N.V.Stockholders - basic	176,271,176	158,891,067
Weighted average common shares outstanding attributable to ATAI Life Sciences N.V. Stockholders - diluted	176,271,176	158,891,067
License [Member]
Total revenue	$ 202	$ 0
Research and development services revenue [Member]
Total revenue	$ 1,353	$ 0

Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Company's Reportable Segment Net Loss

The Company's reportable segment net loss, including significant segment expenses, for the three months ended March 31, 2025 and 2024 consisted of the following (in thousands):


	For the three months ended March 31,
	2025			2024
License revenue	$	202		$	—
Research and development services revenue		1,353			—
Total revenue	$	1,555		$	—
Research and Development
VLS-01		2,341			2,088
EMP-01		370			517
RL-007		2,046			1,855
Discovery (Non-hallucinogenic)		354			60
Other programs(i)		1,176			1,267
Personnel and employee-related expenses(ii)		2,902			2,919
Non-cash share-based compensation expense		962			2,141
Depreciation and Amortization		58			—
Other Expenses(iii)		1,119			683
General and Administrative
Personnel and employee-related expenses(ii)		3,325			4,066
Non-cash share-based compensation expense		2,385			3,267
Accounting and Tax Fees		1,107			1,786
Legal & Intellectual Property Fees		1,939			1,352
Insurance		422			861
Depreciation and Amortization		158			83
Other Expenses(iii)		1,261			1,140
Interest income		186			307
Interest expense		(900	)		(687	)
Other segment items(iv)		(5,381	)		(2,913	)
Segment and consolidated net loss	$	(26,465	)	$	(27,378	)

Property and Equipment (Additional Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024
Property, Plant and Equipment [Line Items]
Property and Equipment	$ 3,200		$ 2,933
Property and equipment, net	2,682		2,535
Depreciation and amortization expense	100	$ 100
Manufacturing Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment	1,572		1,572
Germany [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, net	700		700
Germany [Member] \| Manufacturing Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment	1,000
United State [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, net	$ 100		$ 100

Variable Interest Entities - Schedule of Non Controlling Interest Recognized to Its Consolidated VIEs Roll Forward (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Noncontrolling Interest [Line Items]
Opening balance	$ 257	$ 1,354
Net loss attributable to noncontrolling interests - preferred		(665)
Comprehensive income/Loss attributable to noncontrolling interests		24
Closing balance	221	713
Perception [Member]
Noncontrolling Interest [Line Items]
Opening balance	257	428
Net loss attributable to noncontrolling interests - preferred	(34)	(100)
Comprehensive income/Loss attributable to noncontrolling interests	(2)	17
Closing balance	$ 221	345
Kures [Member]
Noncontrolling Interest [Line Items]
Opening balance		369
Net loss attributable to noncontrolling interests - preferred		(25)
Comprehensive income/Loss attributable to noncontrolling interests		7
Closing balance		350
Recognify [Member]
Noncontrolling Interest [Line Items]
Opening balance		557
Net loss attributable to noncontrolling interests - preferred		(539)
Comprehensive income/Loss attributable to noncontrolling interests		0
Closing balance		$ 18

- Definition

Amount of equity (deficit) attributable to noncontrolling interest. Excludes temporary equity.

+ References

+ Details

Investments - Summary of financial data for investments (Detail) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Shedule Of Equity Method Investment Summarized Balance Sheet [Line Items]
Current assets	$ 115,978	$ 80,125
Total assets	195,783	159,387
Current liabilities	28,501	24,951
Total liabilities	43,509	42,833
GABA Therapeutics Inc [Member]
Shedule Of Equity Method Investment Summarized Balance Sheet [Line Items]
Current assets	175	112
Noncurrent assets	409	0
Total assets	585	112
Current liabilities	2,333	2,805
Noncurrent assets	820	0
Total liabilities	$ 3,153	$ 2,805

- Definition

Amount of asset recognized for present right to economic benefit.

+ References

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Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.

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+ Details

- Definition

Amount of obligation due after one year or beyond the normal operating cycle, if longer.

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+ Details

Investments - Summary of Equity Method Investments (Detail) - USD ($) $ in Thousands	Mar. 31, 2025	Aug. 31, 2023	Dec. 31, 2020
COMPASS Pathways Plc Two [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		15.40%
Innoplexus AG [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	35.00%		35.00%
GABA Therapeutics Inc [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	$ 0		$ 0

- Definition

This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.

+ References + Details

Segment Reporting - Schedule of Reportable Segment Net Loss (Details) - USD ($)
$ in Thousands

3 Months Ended

Mar. 31, 2025

Mar. 31, 2024

Segment Reporting Information [Line Items]

Revenue

$ 1,555

$ 0

General and administrative

10,597

12,555

Interest income

186

307

Interest expense

(900)

(687)

Other segment items(iv)

^[1]

(5,381)

(2,913)

Net loss

(26,465)

(27,378)

Reportable Segment, Aggregation before Other Operating Segment [Member] | VLS-01 Expenses [Member]

Segment Reporting Information [Line Items]

Research & development expense

2,341

2,088

Reportable Segment, Aggregation before Other Operating Segment [Member] | EMP-01 Expenses [Member]

Segment Reporting Information [Line Items]

Research & development expense

370

517

Reportable Segment, Aggregation before Other Operating Segment [Member] | RL-007 Expenses [Member]

Segment Reporting Information [Line Items]

Research & development expense

2,046

1,855

Reportable Segment, Aggregation before Other Operating Segment [Member] | Discovery (Non-Hallucinogenic) Expenses [Member]

Segment Reporting Information [Line Items]

Research & development expense

354

Reportable Segment, Aggregation before Other Operating Segment [Member] | Other Programs Expenses [Member]

Segment Reporting Information [Line Items]

Research & development expense

^[2]

1,176

1,267

Reportable Segment, Aggregation before Other Operating Segment [Member] | Personnel and Employee Related Expenses [Member]

Segment Reporting Information [Line Items]

Research & development expense

^[3]

2,902

2,919

General and administrative

^[3]

3,325

4,066

Reportable Segment, Aggregation before Other Operating Segment [Member] | Non Cash Share Based Compensation Expenses [Member]

Segment Reporting Information [Line Items]

Research & development expense

962

2,141

General and administrative

2,385

3,267

Reportable Segment, Aggregation before Other Operating Segment [Member] | Depreciation [Member]

Segment Reporting Information [Line Items]

Research & development expense

General and administrative

158

Reportable Segment, Aggregation before Other Operating Segment [Member] | Other Expenses [Member]

Segment Reporting Information [Line Items]

Research & development expense

^[4]

1,119

683

General and administrative

^[4]

1,261

1,140

Reportable Segment, Aggregation before Other Operating Segment [Member] | Accounting and Tax Fees [Member]

Segment Reporting Information [Line Items]

General and administrative

1,107

1,786

Reportable Segment, Aggregation before Other Operating Segment [Member] | Legal & Intellectual Property Fees [Member]

Segment Reporting Information [Line Items]

General and administrative

1,939

1,352

Reportable Segment, Aggregation before Other Operating Segment [Member] | Insurance Fees [Member]

Segment Reporting Information [Line Items]

General and administrative

422

861

License revenue

Segment Reporting Information [Line Items]

Revenue

202

Research and development services revenue [Member]

Segment Reporting Information [Line Items]

Revenue

1,353

Research and development services revenue [Member] | Reportable Segment, Aggregation before Other Operating Segment [Member]

Segment Reporting Information [Line Items]

Revenue

$ 1,353

$ 0

[1]	Includes benefit from research and development tax credit, change in fair value of assets and liabilities, net, change in fair value of digital assets, foreign exchange gains (losses), net, benefit (provision) for income taxes, and losses from investments in equity method investees, net of tax.
[2]	Includes direct expenses related to PCN-101, KUR-101, RLS-01, EGX-121, IGX, enabling technologies, and other discovery programs.
[3]	Includes labor, benefits, and personnel-based restructuring expenses.
[4]	Includes, professional consulting services, facilities costs, technology and communication costs, and miscellaneous fees.

Fair Value Measurement - Summary of Fair Value Measurement Inputs and Valuation Techniques (Detail) - Contingent Consideration Liability Related Parties [Member]	Mar. 31, 2025	Dec. 31, 2024
Measurement Input, Discount Rate [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
License transaction, measurement input	0.116	0.116
Measurement Input, Discount Rate [Member] \| Valuation Technique, Discounted Cash Flow [Member] \| Minimum [Member] \| DemeRx [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
License transaction, measurement input	0.117	0.117
Measurement Input, Discount Rate [Member] \| Valuation Technique, Discounted Cash Flow [Member] \| Maximum [Member] \| DemeRx [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
License transaction, measurement input	0.118	0.118
Measurement Input Probability of the Milestone [Member] \| Valuation Technique, Discounted Cash Flow [Member] \| Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
License transaction, measurement input	0.05	0.05
Measurement Input Probability of the Milestone [Member] \| Valuation Technique, Discounted Cash Flow [Member] \| Minimum [Member] \| DemeRx [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
License transaction, measurement input	0.04	0.04
Measurement Input Probability of the Milestone [Member] \| Valuation Technique, Discounted Cash Flow [Member] \| Maximum [Member] \| DemeRx [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
License transaction, measurement input	0.05	0.05
Measurement Input Discount Rate for Royalties [Member] \| Discounted Cash Flow with SBM [Member] \| Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
License transaction, measurement input	0.038	0.038
Measurement Input Discount Rate for Royalties [Member] \| Discounted Cash Flow with SBM [Member] \| Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
License transaction, measurement input	0.043	0.043
Measurement Input Discount Rate for Royalties on Milestones [Member] \| Discounted Cash Flow with SBM [Member] \| Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
License transaction, measurement input	0.038	0.038
Measurement Input Discount Rate for Royalties on Milestones [Member] \| Discounted Cash Flow with SBM [Member] \| Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
License transaction, measurement input	0.043	0.043
Probability of Success Rate [Member] \| Discounted Cash Flow with SBM [Member] \| Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
License transaction, measurement input	0.05	0.05

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024
Cash flows from operating activities
Net loss	$ (26,465)	$ (27,378)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization of long-term assets	216	83
Noncash lease expense	138	83
Amortization of debt discount	149	98
Stock-based compensation expense	3,355	5,760
Noncash change in the fair value of assets and liabilities, net	5,862	1,827
Noncash change in the fair value of digital assets	212	0
Unrealized foreign exchange loss	(494)	194
Losses from investments in equity method investees, net of tax	0	1,701
Other expense, net	915	72
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(59)	14
Accounts payable	36	(742)
Accrued liabilities	(1,706)	(4,286)
Net cash used in operating activities	(17,841)	(22,573)
Cash flows from investing activities
Proceeds from sale and maturities of securities carried at fair value	0	43,841
Cash paid for securities carried at fair value	(4,996)	(21,364)
Cash paid for investments	0	(10,000)
Cash paid for digital assets	(5,000)	0
Cash paid for asset acquisition	(750)	0
Cash paid for short-term convertible notes receivable and warrant - related party	0	(1,000)
Cash paid for capitalized internal-use software development costs	0	(5)
Cash paid for property and equipment	(268)	0
Net cash provided by investing activities	(11,014)	11,471
Cash flows from financing activities
Proceeds from issuance of shares upon exercise of stock options	397	0
Proceeds from equity offering	59,772	0
Cash paid for common stock issuance costs	(564)	0
Net cash provided by financing activities	59,605	0
Effect of foreign exchange rate changes on cash	32	(64)
Net decrease in cash, cash equivalents and restricted cash	30,782	(11,166)
Cash, cash equivalents and restricted cash - beginning of the period	27,505	45,034	$ 45,034
Cash, cash equivalents and restricted cash - end of the period	58,287	33,867	27,505
Supplemental disclosures:
Cash paid for interest	590	629
Cash paid for taxes	99	0
Supplemental disclosures of noncash investing and financing information:
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 1,709	$ 0	$ 0

Debt

3 Months Ended

Mar. 31, 2025

Debt Disclosure [Abstract]

Debt

14. Debt

Convertible Promissory Notes

Convertible Promissory Notes—Related Parties

During November 2018 and October 2020, the Company executed a terms and conditions agreement (the “Convertible Note Agreement”) under which it would issue convertible promissory notes to investors. An investor would become a party to the Convertible Note Agreement and would be issued a convertible promissory note by executing and delivering a subscription form. In November 2018 and October 2020, certain investors subscribed to the Convertible Note Agreement and the Company issued convertible promissory notes in the aggregate principal amount of €1.0 million or $1.2 million (collectively, the “Convertible Notes”). The Convertible Notes are non-interest-bearing, unsecured and are due and payable on September 30, 2025, unless previously redeemed, converted, purchased or cancelled (the “Maturity Date”). Each Convertible Note has a face value of €1 and is convertible into one share of ATAI Life Sciences AG upon the payment of €17.00. Conversion rights may be exercised by a noteholder at any time prior to maturity, except during certain periods subsequent to the consummation of the IPO. The Convertible Notes may be declared for early redemption by the noteholders upon occurrence of specified events of default, including payment default, insolvency and a material adverse change in the Company’s business, operations or financial or other condition. Upon early redemption, the conversion right with respect to the Convertible Notes may no longer be exercised.

The Company concluded that both the embedded conversion feature, which is exercisable by the investor at any time during the maturity, and the contingent put option, which would trigger upon the occurrence of an event of default of the Convertible Notes, do not meet the criteria to be bifurcated and separately accounted for as derivatives and the notes were recorded net of discount and issuance costs, or a reduction to the carrying value of the notes issued in November 2018, with a corresponding adjustment to additional paid in capital. The discount is being amortized using the effective interest method over the period from the respective date of issuance to the Maturity Date.

The Company determined that the October 2020 notes were issued in exchange for services previously provided by the Company’s founders and other shareholders and were fully vested and non-forfeitable upon issuance. These instruments were therefore considered share based compensation awards to non-employees, and the instruments were initially measured and recorded at their grant date fair value based on a Black-Scholes option- pricing model. The fair value of the October 2020 notes exceeded the principal amount that will be due at maturity. Therefore, at initial recognition, the October 2020 notes were accounted for as convertible debt issued at a substantial premium, such that the face value of the note is recorded as a liability and the premium was recorded as paid-in capital.

In April 2021, the Company undertook a corporate reorganization. Upon the corporate reorganization, ATAI Life Sciences N.V became the sole shareholder of ATAI Life Sciences AG. In connection with the corporate reorganization, all former shareholders of ATAI Life Sciences AG contributed their shares of ATAI Life Sciences AG to ATAI Life Sciences N.V. and received sixteen shares in ATAI Life Sciences N.V. for every one share of ATAI Life Sciences AG. In 2023, certain November 2018 noteholders elected to convert some of their convertible promissory notes into shares of ATAI Life Sciences N.V for an immaterial amount. As of December 31, 2023, all notes issued in November 2018 have been converted and the only outstanding Convertible Notes are those issued in October 2020. As of March 31, 2025, the Convertible notes issued in October 2020 continue to be outstanding.

Exchange of Convertible Promissory Notes

In November 2023 and April 2024, a noteholder and a related party noteholder, respectively, of the Convertible Notes issued in October 2020 and ATAI Life Sciences AG executed exchange agreements (together the "Exchange Agreements") where each noteholder agreed to exchange its Convertible Notes issued by ATAI Life Sciences AG ("Old AG Notes") into the same principal amount of new convertible notes issued by ATAI Life Sciences NV ("New NV Notes"). The New NV Notes are non-interest-bearing, unsecured and are due and payable on September 30, 2025, unless previously redeemed, converted, purchased or cancelled (the “Maturity Date”). Each New NV Note has a face value of €1 and is convertible into sixteen shares of ATAI Life Sciences NV upon the payment of €17.00. Conversion rights may be exercised by a noteholder at any time prior to maturity. The New NV Notes may be declared for early redemption by the noteholders upon occurrence of specified events of default, including payment default, insolvency and a material adverse change in the Company’s business, operations or financial or other condition. Upon early redemption, the conversion right with respect to the New NV Notes may no longer be exercised.

In December 2023 and April 2024, the Company entered into subscription agreements with each of the noteholder and related party noteholder, respectively (together the "Subscription Agreements") and exchanged their respective Old AG Notes into New NV Notes. The Company determined that the note exchanges were modifications of the debt. The Exchange Agreements and Subscription Agreements resulted in the New NV Notes conversion option no longer meeting the equity classification criteria. Accordingly, at the time of the Exchange Agreements modification, the Company bifurcated the conversion option and reclassified the conversion option fair value from equity to a liability and is included in Convertible promissory notes and derivative liability in the consolidated balance sheets. The conversion option is measured at fair value on a quarterly basis and any changes in the fair value will be recorded as Change in fair value of assets and liabilities, net, in the consolidated statements of operations. For the three months ended March 31, 2025 and 2024, the Company recognized a loss of $0.1 million $1.7 million, respectively, as a result of the change in fair value of the New NV Notes.

As of March 31, 2025 and December 31, 2024, the fair value of the Short-term convertible Notes and derivative liability was $1.9 million and $1.8 million, respectively. As of March 31, 2025 and December 31, 2024, the fair value of the Short-term convertible promissory note and derivative liability - related party was $1.2 million and $1.2 million, respectively.

Term Loan

Hercules Loan and Security Agreement

In August 2022 (the “Closing Date”), the Company and certain subsidiaries, as guarantors, and Hercules Capital, Inc., a Maryland corporation (“Hercules”), entered into a Loan and Security Agreement the “Hercules Loan Agreement”. The Hercules Loan Agreement provides for term loans in an aggregate principal amount of up to $175.0 million under multiple tranches (as amended by that certain First Amendment to the Loan and Security Agreement, dated as of March 13, 2023, the "First Amendment”, that Second Amendment to the Loan and Security Agreement, dated as of May 26, 2023, the “Second Amendment,” that Third Amendment to the Loan and Security Agreement, dated August 14, 2024, the “Third Amendment,” and that Fourth Amendment to the Loan and Security Agreement, dated as of January 6, 2025, the "Fourth Amendment," collectively, the “2022 Term Loan Facility”).

On May 26, 2023, the Company, ATAI Life Sciences AG (“ATAI AG” and together with the Company, the “Borrowers”) and certain subsidiary guarantors of the Company (collectively, the “Subsidiary Guarantors”) entered into the Second Amendment with the several banks and other financial institutions or entities from time to time parties to the Hercules Loan Agreement, defined below, (collectively, the “Lenders”) and Hercules, in its capacity as administrative agent and collateral agent for itself and for the Lenders (the “Agent”) which amended that certain Loan and Security Agreement, dated August 9, 2022 (as amended by the First Amendment, the “Existing Loan Agreement,” and as amended by the Second Amendment, the “Hercules Loan Agreement”) to, among other things, (i) extend the availability of Tranche 1B of $10.0 million, from May 1, 2023, under the Existing Loan Agreement, to November 15, 2024, (ii) extend the availability of Tranche 1C of $15.0 million, from December 15, 2023, under the Existing Loan Agreement, to December 15, 2024, (iii) provide Tranche 1D of $20.0 million, available upon the earlier of (x) the full draw of Tranche 1C and (y) the expiration of Tranche 1C availability, through February 15, 2025, (iv) extend the availability of Tranche 2 of $15.0 million, from June 30, 2024, under the Existing Loan Agreement, subject to certain conditions under the Hercules Loan Agreement, to the earlier of (x) the full draw of Tranche 1D and (y) the expiration of Tranche 1D availability, through March 15, 2025, subject to the Tranche 2 Draw Test, (v) extend the timeline to achieve the second amortization extension condition, from June 30, 2024, in the Existing Loan Agreement, to December 15, 2024, (vi) amend the Tranche 2 Draw Test, satisfaction of which is a condition to draw Tranche 2 under the Hercules Loan Agreement and (vii) extend the financial covenant commencement date, from the later of (x) July 1, 2023, and (y) the date that the outstanding debt under the facility is equal to or greater than $40.0 million, in the Existing Loan Agreement, to the later of (x) May 1, 2024, and (y) the date that the outstanding debt under the facility is equal to or greater than $30.0 million, provided, that the financial covenant is waived if the Company has a market capitalization of at least $550.0 million.

On August 14, 2024 (the “Third Amendment Date”), the Borrowers and certain Subsidiary Guarantors” entered into the Third Amendment with the Lenders and Hercules, in its capacity as the Agent, which amended that certain Loan and Security Agreement, dated August 9, 2022 (as amended by the First Amendment, the Second Amendment and the Third Amendment, the “2022 Term Loan Agreement”) to, among other things, (i) provide Tranche 1B of $5.0 million on the Third Amendment Date, (ii) reduce the remainder of available Tranche 1 to $25.0 million, and extend the availability thereof (x) with respect to Tranche 1C, to be available after the Third Amendment Date until March 31, 2025, and (y) with respect to Tranche 1D, to be available upon the earlier to occur of (1) March 31, 2025 and (2) full borrowing of Tranche 1C, until June 30, 2025, (iii) increase Tranche 2 to $30.0 million, and extend the availability thereof to be available upon the earlier to occur of (1) June 30, 2025, and (2) full borrowing of Tranche 1D, until September 30, 2025, subject to the Tranche 2 Draw Test, (iv) extend the availability of Tranche 3 of $100.0 million, through March 31, 2026, available subject to lender’s investment committee approval, (v) extend the amortization date to September 1, 2025, and extend the timeline to achieve the second amortization extension condition, to June 30, 2025, upon the occurrence of which the amortization date may be extended to March 1, 2026, (vi) amend the financial covenant to commence on October 1, 2024, and require that so long as the Company’s market capitalization is less than $550.0 million, Borrowers shall maintain qualified cash equal to at least 50% of the sum of (x) the amount of outstanding debt under the facility plus (y) Qualified Cash A/P Amount (as defined in the Agreement), or upon the occurrence of certain conditions, 70% of the sum of (x) the amount of outstanding debt under the facility plus (y) Qualified Cash A/P Amount, and (vii) reduce the interest rate to equal the greater of (x) 9.05% or (y) prime rate plus 4.30% (or, upon achieving certain conditions, (y) shall equal prime rate plus 4.05%).

On January 6, 2025 (the “Fourth Amendment Date”), the Borrowers and certain Subsidiary Guarantors entered into the Fourth Amendment with the Lenders and Hercules, in its capacity as the Agent, which amended that certain Loan and Security Agreement, dated August 9, 2022 (as amended by the First Amendment, the Second Amendment, the Third Amendment, and the Fourth Amendment the “2022 Term Loan Agreement”) to, among other things, consent to the conversion of ATAI AG from a German stock corporation (Aktiengesellschaft – AG) into a German limited liability company (Gesellschaft mit beschränkter Haftung – GmbH).

The 2022 Term Loan Facility will mature on August 1, 2026 (the “Maturity Date”), which may be extended until February 1, 2027 if the Company raises at least $175.0 million of unrestricted new net cash proceeds from certain permitted sources after the Closing Date and prior to June 30, 2025, and satisfies certain other specified conditions (the “Extension Condition Two”). The outstanding principal balance of the 2022 Term Loan Facility bears interest at a floating interest rate per annum equal to the greater of either (i) the prime rate as reported in the Wall Street Journal plus 4.30% and (ii) 9.05%; provided, that if the Extension Condition Two is satisfied, the rate of interest in the

foregoing clause (i) is prime rate as reported in The Wall Street Journal plus 4.05%. Accrued interest is payable monthly following the funding of each term loan advance. The Company may make payments of interest only, without any loan amortization payments until September 1, 2025, which date may be extended to March 1, 2026 if Extension Condition Two is achieved. At the end of the interest only period, the Company is required to begin repayment of the outstanding principal of the 2022 Term Loan Facility in equal monthly installments.

The 2022 Term Loan Agreement contains customary closing and commitment fees, prepayment fees and provisions, events of default and representations, warranties and affirmative and negative covenants, including a financial covenant requiring the Company to maintain certain levels of cash in accounts subject to a control agreement in favor of the Agent (the “Qualified Cash”) at all times commencing from the Closing Date, which includes a cap on the amount of cash that can be held by, among others, certain of our foreign subsidiaries in Australia and the United Kingdom. In addition, the financial covenant under the 2022 Term Loan Agreement requires that beginning on October 1, 2024, the Company shall maintain Qualified Cash in an amount no less than the sum of (1) 50% of the outstanding amount under the 2022 Term Loan Facility, and (2) the amount of the Borrowers’ and Subsidiary Guarantors’ accounts payable that have not been paid within 180 days from the invoice date of the relevant account payable, subject to certain exceptions; provided, upon the occurrence of certain conditions, the Company shall at all times maintain Qualified cash in an amount no less than the sum of (1) 70% of the outstanding amount under the 2022 Term Loan Facility, and (2) the amount of the Borrowers’ and Subsidiary Guarantors’ accounts payable that have not been paid within 180 days from the invoice date of the relevant account payable, subject to certain exceptions; provided, further, that the financial covenant shall not apply on any day that the Company's market capitalization is at least $550.0 million measured on a consecutive 10-business day period immediately prior to such date of measurement and tested on a daily basis. Upon the occurrence of an event of default, including a material adverse effect, subject to certain exceptions, on the Company and ATAI AG’s, taken together, business, operations, properties, assets or financial condition, and subject to any specified cure periods, all amounts owed by the Company may be declared immediately due and payable by the Lenders. As of March 31, 2025, the Company was in compliance with all applicable covenants under the Hercules Loan Agreement.

In addition, the Company is required to make a final payment fee (the “End of Term Charge”) upon the earlier of (i) the Maturity Date, (ii) the date that the Company prepays, in full or in part, the principal balance of the 2022 Term Loan Facility, or (iii) the date that the outstanding balance of the 2022 Term Loan Facility becomes due and payable. The End of Term Charge is 6.95% of the aggregate principal amount of the term loans so repaid or prepaid under the 2022 Term Loan Agreement.

The Company may, at its option, prepay the term loans in full or in part, subject to a prepayment penalty equal to (i) 2.00% of the principal amount prepaid if the prepayment occurs on or prior to the first anniversary of the Closing Date, (ii) 1.0% of the principal amount prepaid if the prepayment occurs after the first anniversary and on or prior to the second anniversary of the Closing Date, and (iii) 0.5% of the principal amount prepaid if the prepayment occurs after the second anniversary and prior to the Maturity Date.

The Company incurred financing expenses related to the Hercules Loan Agreement, which are recorded as an offset to long-term debt on the Company's consolidated balance sheets. These deferred financing costs are being amortized over the term of the debt using the effective interest method, and are included in other income, net in the Company’s unaudited condensed consolidated statements of operations. During the three months ended March 31, 2025 and 2024, interest expense included $0.1 million and $0.1 million of amortized deferred financing costs related to the 2022 Term Loan Facility.

Outstanding debt obligations are as follows (in thousands):



	March 31, 2025			December 31, 2024
Principal amount	$	20,000		$	20,000
End of the term charge		1,390			1,390
Less: unamortized issuance discount		(100	)		(123	)
Less: unamortized issuance costs		(41	)		(51	)
Less: unamortized end of term charge		(583	)		(709	)
Net carrying amount		20,666			20,507
Less: current maturities		(11,366	)		(6,374	)
Long-term debt, net of current maturities and unamortized debt discount and issuance costs	$	9,300		$	14,133

The fair value of the outstanding debt obligations under the 2022 Term Loan Facility was $21.3 million as of March 31, 2025, and $21.5 million as of December 31, 2024, respectively. The fair value of the debt obligations under the 2022 Term Loan Facility represent Level 3 measurements within the fair value hierarchy.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1B
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Debt - Summary of Grant Date Fair Value (Details)	3 Months Ended	12 Months Ended
Debt - Summary of Grant Date Fair Value (Details)	Mar. 31, 2025	Dec. 31, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Volatility	100.00%	75.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Acquisitions

3 Months Ended

Mar. 31, 2025

Business Combinations [Abstract]

Acquisitions

4. Acquisitions

2024 Acquisitions

IntelGenx Corp.

IntelGenx Technologies Corp. ("IntelGenx") is a drug delivery company focused on the development and manufacturing of novel oral thin film products for the pharmaceutical market and for one of the Company’s product candidates, VLS-01. From 2021 to 2024, the Company entered into various notes receivable agreements, loan agreements, and equity agreements which is described below.

Equity Agreements

2021 Securities Purchase Agreement

In May 2021 the Company and IntelGenx entered into a Securities Purchase Agreement (the “IntelGenx SPA”) whereby IntelGenx issued shares of its common stock (the "IntelGenx Common Shares") and warrants to the Company in an aggregate amount of approximately $12.3 million.

2023 Subscription Agreement, as Amended

In August 2023 the Company and IntelGenx entered into a subscription agreement (the “Subscription Agreement”), under which the Company paid IntelGenx $2.2 million for 2,220 convertible debenture units (the "2023 Initial Units") and the Company agreed to subscribe for an additional 750 convertible debenture units (the "2023 Subsequent Units") at a price of $0.8 million under the Subscription Agreement. Each debenture unit consists of convertible promissory notes (the "20203 Initial Notes" and the convertible promissory notes included in the 2023 Subsequent Units, the "2023 Subsequent Notes") and common share purchase warrants (the "2023 Initial Warrants" and the common share purchase warrants under the 2023 Subsequent Units, the "2023 Subsequent Warrants"). Effective September 30, 2023, IntelGenx and the Company amended the Subscription Agreement (the “Amended Subscription Agreement”), allowing the Company, subject to obtaining certain shareholder approvals, (the "Call Option") to purchase up to an additional 7,401 convertible debenture units (the “Call Option Units”).

Notes Receivable and Loan Agreements

IntelGenx Term Loan, as amended

In March 2021, the Company and IntelGenx entered into a loan agreement (the "Original Loan Agreement") for an aggregate principal amount of $2.0 million. In May 2021, the Company paid an additional advance of $0.5 million as an additional term loan. The Original Loan Agreement was amended in September 2021, which, among other things, increased the principal amount of loans available to IntelGenx by $6.0 million, for a total of up to $8.5 million. In August 2023, the Company and IntelGenx entered into the first amendment to the amended and restated loan agreement (the "First Amendment") which, among other things, extended the maturity date from January 5, 2024 to January 5, 2025. Effective September 30, 2023, the Company and IntelGenx entered into a second amendment to the amended and restated loan agreement (the "Second Amendment", and together with the Original Loan Agreement and the First Amendment, the "IntelGenx Term Loan") which entitles the Company to convert any portion of the outstanding and unpaid principal and accrued interest into common shares of IntelGenx at a conversion price per share of $0.185. In March 2024, the Company and IntelGenx entered into the Third Amendment (together with the Original Loan Agreement, the First Amendment, and the Second Amendment, the “IntelGenx Term Loan”) pursuant to which the Company immediately provided an additional $1.0 million term loan (“Tranche 1 Additional Term Loan”), and would provide an additional $1.0 million term loan (“Tranche 2 Additional Term Loan”) contingent upon certain of the Company's clinical milestones. In connection with the Third Amendment, the Company received warrants to purchase up to 4.0 million shares of IntelGenx Common Shares (defined below) at an exercise price of $0.17 ("2024 Warrants").

IntelGenx Convertible Notes

On August 30, 2023, the Company and IntelGenx entered into the Subscription Agreement (as described above), under which the Company paid IntelGenx $2.2 million for 2,220 convertible debenture units (the "Initial Units"), with each convertible debenture unit consisting of (i) $1,000 principal amount convertible promissory notes (the “2023 Initial Notes”); and (ii) 5,405 common share purchase warrants of IntelGenx.

In November 2023, upon shareholder approval, the Company paid $0.8 million for the 2023 Subsequent Units, which included the 2023 Subsequent Notes.

IntelGenx 2023 Term Loan Note

In December 2023, the Company and IntelGenx entered into a new term loan agreement under which the Company provided IntelGenx with an aggregate principal amount of $0.5 million (the “2023 Term Loan Note”). The loan bears an annualized interest rate of 14.0% compounding monthly. Principal and interest outstanding shall be due and payable from proceeds of future IntelGenx fundraising.

IntelGenx Liquidation and Acquisition of IGX

In May 2024, IntelGenx announced that its board of directors authorized IntelGenx to bring an application in the Quebec Superior Court to seek protection from creditors under the Companies' Creditors Arrangement Act (“CCAA”) to allow time to review its strategic alternatives. IntelGenx was granted protection pursuant to an initial order ("Initial Order"), which also authorized interim debtor-in-possession financing ("DIP Financing") provided by the Company in order to allow IntelGenx to continue its operations during a restructuring process. Pursuant to the DIP Financing, the Company and IntelGenx entered into a senior secured super-priority, interim, non-revolving multiple draw credit facility ("DIP Loan") up to a maximum of CDN $8.0 million. Subsequently, IntelGenx obtained approval to implement a sale and investment solicitation process (the "SISP" and the approval, the "SISP Approval Order"). As part of the SISP Approval Order, the Court approved the agreement of a purchase and sale between IntelGenx and the Company, solely for the purpose of constituting the “Stalking Horse Bid" under the SISP. The Stalking Horse Bid established a baseline price and deal structure for the solicitation of superior bids from qualified interested parties.

On September 30, 2024, the Superior Court of Quebec issued an Approval and Vesting Order, sanctioning the transactions contemplated in ATAI’s stalking horse bid, which consisted of the Company acquiring IGX, the operating company and subsidiary of IntelGenx. The acquisition closed on October 2, 2024.

The transaction was structured as a credit bid, which resulted in the Company receiving all issued and outstanding shares of IGX in exchange for the discharge of all senior secured debt payable by IntelGenx, which included the DIP Loan and the IntelGenx Term Loan. For more information regarding the Company's IntelGenx notes receivable and debt instruments refer to Notes 6 and 7 in the Company's audited consolidated financial statements included in the Company’s Annual Report on Form 10-K filed with the SEC on March 17, 2025.

The transaction was further structured to include only the assets and liabilities the Company designated within their Stalking Horse Bid (the “Purchase Transaction”).

The Company determined that the transaction met the definition of a business under ASC 805; therefore, the Company accounted for the transaction as a business combination and applied the acquisition method of accounting. The purchase consideration transferred on October 2, 2024 (the "Acquisition Date") was $5.7 million, which was the fair value of the aforementioned discharged debt. The Company did not include any cash or equity as part of the consideration transferred.

The following table sets forth the allocation of the IGX purchase price to the estimated fair value of the net assets acquired at the Acquisition Date (in thousands):


	Amounts recognized at the Acquisition Date
Assets acquired:
Cash	$	359
Accounts receivable		46
Prepaid expenses and other current assets		971
Property and Equipment		1,892
Right-of-use assets, net		527
Definite-lived intangible assets		2,625
Other assets		275
Total assets	$	6,695
Liabilities assumed:
Accounts payable	$	214
Deferred revenue		575
Accrued liabilities		136
Right-of-use liabilities		327
Other current liabilities		59
Total liabilities	$	1,311
Total identifiable net assets acquired		5,384
Goodwill		331
Total consideration transferred	$	5,715

Accrued Liabilities

3 Months Ended

Mar. 31, 2025

Accrued Liabilities, Current [Abstract]

Accrued Liabilities

12. Accrued Liabilities

Accrued liabilities consist of the following (in thousands):


	March 31, 2025		December 31, 2024
Accrued payroll	$	2,276	$	3,776
Accrued accounting, legal, and other professional fees		2,768		2,867
Accrued external research and development expenses		1,891		2,479
Accrued restructuring costs		1,063		—
Other liabilities		576		537
Taxes payable		106		188
Total	$	8,680	$	9,847

Intangible Assets, Goodwill, and Digital Assets - Estimated Future Amortization Expense (Details) $ in Thousands	Mar. 31, 2025 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 323
2026	289
2027	249
2028	249
2029	249
Thereafter	1,299
Net Carrying Amount	$ 2,658

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2025	Feb. 28, 2025	Dec. 31, 2024
Accounting Policies [Line Items]
Right-of-use assets, net	$ 2,905	$ 1,700	$ 1,334
Current portion of lease liability	$ 287		$ 477
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Right-of-use assets, net		Right-of-use assets, net
Noncurrent portion of lease liability	$ 2,587		$ 732
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Noncurrent portion of lease liability		Noncurrent portion of lease liability

Related Party Transactions - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 28, 2025	Mar. 31, 2025	Mar. 31, 2024	Dec. 31, 2024	Jan. 31, 2024
Related Party Transaction [Line Items]
General and administrative expense		$ 10,597	$ 12,555
Common Stock, Value, Issued, Total		22,121		$ 18,785
General and Administrative Expense [Member]
Related Party Transaction [Line Items]
stock-based compensation		$ 100	100
Founder [Member] \| Atai Formation [Member]
Related Party Transaction [Line Items]
Equity method investment, ownership percentage		23.30%		20.10%
Apeiron [Member]
Related Party Transaction [Line Items]
Common shares public offering	10,835,718
Share price	$ 2.1
Mr Angermayer [Member] \| Consulting Agreement [Member]
Related Party Transaction [Line Items]
Grant of an option shares vested for continued service					1,658,094
General and administrative expense		$ 100	$ 100

Stock-Based Compensation - Summary of Restricted Common Stock Awards Activity (Detail) - Restricted Stock Units (RSUs) [Member]	3 Months Ended
	Mar. 31, 2025 $ / shares shares
Share Based Arrangements To Obtain Goods And Services [Line Items]
Number of optionsOutstanding as of December 31, 2024 \| shares	719,557
Number of Options, Granted \| shares	0
Number of options,Vested \| shares	719,557
Number of options,Forfeited \| shares	0
Number of options Outstanding as of March 31, 2025 \| shares	0
Weighted Average Grant Date Fair Value at December 31, 2024 \| $ / shares	$ 1.18
Weighted Average Grant Date Fair Value, Granted \| $ / shares	0
Weighted Average Grant Date Fair Value, Vested \| $ / shares	1.18
Weighted Average Grant Date Fair Value, Forfeited \| $ / shares	0
Weighted Average Grant Date Fair Value at March 31, 2025 \| $ / shares	$ 0