0000950170-22-017253 | 10-Q | XBRL Viewer

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Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2022	Aug. 10, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
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 Common Stock, Shares Outstanding		161,819,984
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity 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. c/o Mindspace
Entity Address, Address Line Two	Krausenstraße 9-10
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

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 84,132	$ 362,266
Securities carried at fair value	228,354	0
Prepaid expenses and other current assets	11,122	11,903
Short term notes receivable	0	913
Total current assets	323,608	375,082
Property and equipment, net	303	149
Equity Method Investments	1,162	16,131
Other investments	9,233	11,628
Long term notes receivable - related parties	7,040	3,835
Other assets	7,590	7,341
Total assets	348,936	414,166
Current liabilities:
Accounts payable	2,738	6,004
Accrued liabilities	18,913	14,829
Current portion of contingent consideration liability - related parties	0	51
Other current liabilities	306	51
Total current liabilities	21,957	20,935
Non-current portion of contingent consideration liability - related parties	2,338	2,432
Convertible promissory notes - related parties, net of discounts and deferred issuance costs	619	743
Other liabilities	3,900	4,097
Total liabilities	28,814	28,207
Commitments and contingencies (Note 15)
Stockholders' equity:
Common stock, 0.10 par value ($0.12 par value at June 30, 2022 and December 31, 2021, respectively); 750,000,000 shares authorized at June 30, 2022 and December 31, 2021, respectively; 161,727,785 and 160,677,001 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively	18,114	18,002
Additional paid-in capital	746,042	725,045
Accumulated other comprehensive loss	(21,191)	(8,336)
Accumulated deficit	(431,290)	(357,803)
Total stockholders' equity attributable to ATAI Life Sciences N.V. stockholders	311,675	376,908
Noncontrolling interests	8,447	9,051
Total stockholders' equity	320,122	385,959
Total liabilities and stockholders' equity	$ 348,936	$ 414,166

Condensed Consolidated Balance Sheets (Parenthetical)	Jun. 30, 2022 € / shares shares	Jun. 30, 2022 $ / shares shares	Dec. 31, 2021 € / shares shares	Dec. 31, 2021 $ / shares shares
Common Stock, Par or Stated Value Per Share \| (per share)	€ 0.10	$ 0.12	€ 0.10	$ 0.12
Common stock, shares authorized	750,000,000	750,000,000	750,000,000	750,000,000
Common stock, shares, issued	161,727,785	161,727,785	160,677,001	160,677,001
Common stock, shares, outstanding	161,727,785	161,727,785	160,677,001	160,677,001

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement [Abstract]
License revenue	$ 170,000	$ 0	$ 170,000	$ 19,880,000
Operating expenses:
Research and development	17,949,000	16,026,000	33,409,000	21,611,000
Acquisition of in-process research and development	357,000	7,962,000	357,000	8,934,000
General and administrative	17,221,000	37,331,000	35,203,000	46,604,000
Total operating expenses	35,527,000	61,319,000	68,969,000	77,149,000
Loss from operations	(35,357,000)	(61,319,000)	(68,799,000)	(57,269,000)
Other income (expense), net:
Interest income	117,000	35,000	215,000	72,000
Change in fair value of contingent consideration liability - related parties	95,000	(911,000)	95,000	(660,000)
Change in fair value of derivative liability	0	0	0	41,000
Change in fair value of warrant liability	53,000	0	53,000	0
Change in fair value of securities carried at fair value	(584,000)	0	(1,324,000)	0
Unrealized loss on other investments held at fair value	0	(5,460,000)	0	(5,460,000)
Loss on conversion of convertible promissory notes	0	(513,000)	0	(513,000)
Gain on consolidation of a variable interest entity	0	3,543,000	0	3,543,000
Foreign exchange gain (loss), net	4,882,000	(2,558,000)	7,045,000	(1,068,000)
Other expense, net	(12,000)	(118,000)	(12,000)	(234,000)
Total other income (expense), net	4,551,000	(5,982,000)	6,072,000	(4,279,000)
Loss before income taxes	(30,806,000)	(67,301,000)	(62,727,000)	(61,548,000)
Provision for income taxes	(51,000)	(58,000)	(92,000)	(64,000)
Gain on dilution of equity method investment	(0)	16,923,000	(0)	16,923,000
Losses from investments in equity method investees, net of tax	(6,652,000)	(2,937,000)	(12,248,000)	(4,640,000)
Net loss	(37,509,000)	(53,373,000)	(75,067,000)	(49,329,000)
Net loss attributable to redeemable noncontrolling interests and noncontrolling interests	(891,000)	(4,912,000)	(1,580,000)	(1,556,000)
Net loss attributable to ATAI Life Sciences N.V. stockholders	$ (36,618,000)	$ (48,461,000)	$ (73,487,000)	$ (47,773,000)
Net loss per share attributable to ATAI Life Sciences N.V. stockholders - basic	$ (0.24)	$ (0.37)	$ (0.48)	$ (0.38)
Net loss per share attributable to ATAI Life Sciences N.V. stockholders - diluted	$ (0.24)	$ (0.37)	$ (0.48)	$ (0.38)
Weighted average common shares outstanding attributable to ATAI Life Sciences N.V. Stockholders - basic	153,971,202	132,265,075	153,751,456	125,797,732
Weighted average common shares outstanding attributable to ATAI Life Sciences N.V. stockholders - diluted	153,971,202	132,265,075	153,751,456	125,797,732

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net loss	$ (37,509)	$ (53,373)	$ (75,067)	$ (49,329)
Other comprehensive loss:
Foreign currency translation adjustments, net of tax	(8,482)	2,110	(12,855)	(1,916)
Comprehensive income (loss)	(45,991)	(51,263)	(87,922)	(51,245)
Comprehensive income (loss) attributable to redeemable noncontrolling interests and noncontrolling interests	(891)	(4,912)	(1,580)	(1,556)
Foreign currency translation adjustments, net of tax attributable to noncontrolling interests	30	150	19	(34)
Comprehensive income (loss) attributable to redeemable noncontrolling interests and noncontrolling interests	(861)	(4,762)	(1,561)	(1,590)
Comprehensive income (loss) attributable to ATAI Life Sciences N.V. stockholders	$ (45,130)	$ (46,501)	$ (86,361)	$ (49,655)

- 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.

+ References + Details

- 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.

+ References + Details

- 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

Condensed Consolidated Statements Of Stockholders' Equity - USD ($) $ in Thousands	Total	Hurdle Share Option Plan [Member]	Redeemable Noncontrolling Interests [Member]	Common Stock [Member]	Common Stock [Member] Hurdle Share Option Plan [Member]	Additional Paid-In Capital [Member]	Additional Paid-In Capital [Member] Hurdle Share Option Plan [Member]	Share Subscriptions Receivable [Member]	Share Subscriptions Receivable [Member] Hurdle Share Option Plan [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Accumulated Other Comprehensive Income (Loss) [Member] Hurdle Share Option Plan [Member]	Accumulated Deficit [Member]	Accumulated Deficit [Member] Hurdle Share Option Plan [Member]	Total Stockholders' Equity Attributable to ATAI Life Sciences N.V. Stockholders [Member]	Total Stockholders' Equity Attributable to ATAI Life Sciences N.V. Stockholders [Member] Hurdle Share Option Plan [Member]	Noncontrolling Interests [Member]	Noncontrolling Interests [Member] Hurdle Share Option Plan [Member]
Beginning Balance at Dec. 31, 2020	$ 95,368			$ 13,372		$ 261,626		$ 0		$ 5,819		$ (189,995)		$ 90,822		$ 4,546
Beginning Balance, Shares at Dec. 31, 2020				114,735,712
Issuance of common shares, net of issuance costs	23,510	$ 0		$ 1,881	$ 0	162,497	$ 0	(140,868)	$ 0	0	$ 0	0	$ 0	23,510	$ 0	0	$ 0
Issuance of common shares, net of issuance costs ,Shares				15,552,688
Issuance of common shares under the Hurdle Share Option Plan (see Note 12)					7,281,376
Issuance of noncontrolling interest	885			$ 0		0		0		0		0		0		885
Stock-based compensation expense	212			0		212		0		0		0		212		0
Foreign currency translation adjustment, net of tax	(4,026)			0		0		0		(3,842)		0		(3,842)		(184)
Net income (loss)	4,044			$ 0		0		0		0		688		688		3,356
Ending Balance, Shares at Mar. 31, 2021				137,569,776
Ending Balance at Mar. 31, 2021	119,993			$ 15,253		424,335		(140,868)		1,977		(189,307)		111,390		8,603
Settlement Of Issuance Of Common Shares Value	140,868			0		0		140,868		0		0		140,868		0
Issuance of common shares, net of issuance costs	231,581			$ 2,046		229,535		0		0		0		231,581		0
Issuance of common shares, net of issuance costs ,Shares				17,250,000
Issuance of noncontrolling interest	3,649		$ 2,555	$ 0		0		0		0		0		0		3,649
Stock-based compensation expense	37,512			0		37,512		0		0		0		37,512		0
Foreign currency translation adjustment, net of tax	2,110			0		0		0		1,960		0		1,960		150
Net income (loss)	0
Net income (loss)	(50,818)		$ 2,555	$ 0		0		0		0		(48,461)		(48,461)		(2,357)
Ending Balance, Shares at Jun. 30, 2021				154,819,776
Ending Balance at Jun. 30, 2021	484,895			$ 17,299		691,382		$ 0		3,937		(237,768)		474,850		10,045
Beginning Balance at Dec. 31, 2021	385,959			$ 18,002		725,045				(8,336)		(357,803)		376,908		9,051
Beginning Balance, Shares at Dec. 31, 2021				160,677,001
Issuance of shares upon exercise of stock options, shares				42,827
Issuance of shares upon exercise of stock options	132			$ 5		127				0		0		132		0
Stock-based compensation expense	10,208			0		10,208				0		0		10,208		0
Foreign currency translation adjustment, net of tax	(4,384)			0		0				(4,373)		0		(4,373)		(11)
Net income (loss)	(37,558)			$ 0		0				0		(36,869)		(36,869)		(689)
Ending Balance, Shares at Mar. 31, 2022				160,719,828
Ending Balance at Mar. 31, 2022	354,357			$ 18,007		735,380				(12,709)		(394,672)		346,006		8,351
Beginning Balance at Dec. 31, 2021	385,959			$ 18,002		725,045				(8,336)		(357,803)		376,908		9,051
Beginning Balance, Shares at Dec. 31, 2021				160,677,001
Ending Balance, Shares at Jun. 30, 2022				161,727,785
Ending Balance at Jun. 30, 2022	320,122			$ 18,114		746,042				(21,191)		(431,290)		311,675		8,447
Beginning Balance at Mar. 31, 2022	354,357			$ 18,007		735,380				(12,709)		(394,672)		346,006		8,351
Beginning Balance, Shares at Mar. 31, 2022				160,719,828
Issuance of shares upon exercise of stock options, shares				47,957
Issuance of shares upon exercise of stock options	118			$ 6		112				0		0		118		0
Issuance of noncontrolling interest	957
Conversion of convertible notes to common stock	1,140			$ 101		1,039				0		0		1,140		0
Conversion of convertible notes to common stock, Shares				960,000
Issuance of subsidiary preferred shares	600			$ 0		0				0		0		0		600
Issuance of subsidiary preferred shares, shares				0
Issuance of subsidiary common shares	357			$ 0		0				0		0		0		357
Issuance of subsidiary common shares, Shares				0
Stock-based compensation expense	9,511			$ 0		9,511				0		0		9,511		0
Foreign currency translation adjustment, net of tax	(8,452)			0		0				(8,482)		0		(8,482)		30
Net income (loss)	0
Net income (loss)	(37,509)			$ 0		0				0		(36,618)		(36,618)		(891)
Ending Balance, Shares at Jun. 30, 2022				161,727,785
Ending Balance at Jun. 30, 2022	$ 320,122			$ 18,114		$ 746,042				$ (21,191)		$ (431,290)		$ 311,675		$ 8,447

Condensed Consolidated Statements Of Stockholders' Equity (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021
Issuance cost	$ 9.0	$ 4.9
Settlement of issuance cost	$ 4.9

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Cash flows from operating activities
Net loss	$ (37,509)	$ (53,373)	$ (75,067)	$ (49,329)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expense			79	25
Amortization of debt discount			0	191
Change in fair value of contingent consideration liability - related parties	(95)	911	(95)	660
Change in fair value of securities carried at fair value	584	0	1,324	0
Change in fair value of derivative liability	0	0	0	(41)
Change in Fair Value Of Warrant Liability			(53)	40
Unrealized loss on other investments held at fair value	0	5,460	0	5,460
Gain on dilution of equity method investment	0	(16,923)	0	(16,923)
Loss on conversion of convertible notes			0	513
Gain on consolidation of a variable interest entity	0	(3,543)	0	(3,543)
Losses from investments in equity method investees			12,242	4,641
In-process research and development expense			357	8,934
Stock-based compensation expense			19,720	37,724
Unrealized foreign exchange gains			(4,966)	0
Other			(134)	41
Changes in operating assets and liabilities:
Prepaid expenses and other current assets			939	(1,674)
Accounts payable			(2,591)	2,380
Accrued liabilities			2,328	(3,846)
Deferred revenue			0	120
Net cash used in operating activities			(45,917)	(14,627)
Cash flows from investing activities
Purchases of property and equipment			(172)	(298)
Capitalized internal-use software development costs			(100)	(155)
Cash paid for securities carried at fair value			(229,678)	0
Cash acquired in asset acquisitions, net			0	47
Cash paid for equity method investments			0	(5,359)
Cash paid for other investments			0	(23,445)
Loans to related parties			(3,000)	(2,624)
Cash paid for other assets			0	(195)
Net cash used in investing activities			(232,950)	(32,029)
Cash flows from financing activities
Proceeds from issuance of common stock			0	409,884
Cash paid for deferred offering costs			0	(10,161)
Proceeds from issuance of share option awards			0	534
Proceeds from sale of investment			0	2,417
Proceeds from issuance of shares upon exercise of stock options			249	0
Proceeds from issuance of subsidiary preferred shares			600	0
Proceeds from conversion of convertible notes to common stock			1,077	0
Proceeds from issuance of convertible promissory notes			0	1,588
Net cash provided by financing activities			1,926	404,262
Effect of foreign exchange rate changes on cash			(1,193)	(1,230)
Net increase (decrease) in cash and cash equivalents			(278,134)	356,376
Cash and cash equivalents – beginning of the period			362,266	97,246	$ 97,246
Cash and cash equivalents – end of the period	$ 84,132	$ 453,622	84,132	453,622	$ 362,266
Supplemental disclosures of non cash investing and financing information:
Right of use asset obtained in exchange for operating lease liabilities			487	0
Issuance of subsidiary shares to non-controlling interests in connection with Columbia stock purchase agreement			357	0
Common stock issuance costs in accounts payable			0	230
Common stock issuance costs in accrued liabilities			0	1,958
Fair value of noncontrolling interests issued in connection with consolidation of a VIE			0	392
Fair value redeemable noncontrolling interests issued in connection with consolidation of a VIE			0	2,555
Fair value of noncontrolling interests issued in connection with asset acquisitions			0	885
Issuance of derivative instrument related to convertible promissory notes			0	646
Issuance of subsidiary shares in connection with the conversion of convertible notes			$ 0	$ 3,257

Organization and Description of Business

6 Months Ended

Jun. 30, 2022

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”) 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. atai was founded in 2018 as a response to the significant unmet need and lack of innovation in the mental health treatment landscape. atai is dedicated to acquiring, incubating and efficiently developing innovative therapeutics to treat depression, anxiety, addiction, and other mental health disorders.

Since inception, atai has either created wholly owned subsidiaries or has made investments in certain controlled entities, including variable interest entities (“VIEs”) for which atai is the primary beneficiary under the VIE model (collectively, the “Company”). atai is headquartered in Berlin, Germany.

The Company has determined that it has one operating and reporting segment.

Corporate Reorganization and Initial Public Offering

atai was incorporated pursuant to the laws of the Netherlands as a Dutch private company with limited liability on September 10, 2020 for the purposes of becoming a holding company for ATAI Life Sciences AG and consummating the corporate reorganization described below. atai did not conduct any operations prior to the corporate reorganization other than activities incidental to its formation. ATAI Life Sciences AG was formed as a separate company on February 7, 2018.

In contemplation of the consummation of atai’s initial public offering (“IPO”) of common shares, atai undertook a corporate reorganization (the “Corporate Reorganization”). The Corporate Reorganization consisted of several steps as described below:

•

Exchange of ATAI Life Sciences AG Securities for ATAI Life Sciences B.V. Common Shares and Share Split: In April 2021, the existing shareholders of ATAI Life Sciences AG each became a party to a separate notarial deed of issue under Dutch law and (i) subscribed for new common shares in ATAI Life Sciences B.V. and (ii) transferred their respective shares in ATAI Life Sciences AG, on a 1 to 10 basis (the “Exchange Ratio”), to ATAI Life Sciences B.V. as a contribution in kind on the common shares in ATAI Life Sciences B.V. As a result of the issuance of common shares in ATAI Life Sciences B.V. to the shareholders of ATAI Life Sciences AG and the contribution and transfer of their respective shares in ATAI Life Sciences AG to ATAI Life Sciences B.V., ATAI Life Sciences AG became a wholly owned subsidiary of ATAI Life Sciences B.V. No shareholder rights or preferences changed as a result of the share for share exchange. In connection with such exchange, the common share in ATAI Life Sciences B.V. held by Apeiron was cancelled. On June 7, 2021, shares of ATAI Life Sciences B.V. were split applying a ratio of 1.6 to one, and the nominal value of the shares was reduced to €0.10, pursuant to a shareholders’ resolution and amendment to the articles of association.

•

Conversion of ATAI Life Sciences B.V. into ATAI Life Sciences N.V.: Immediately preceding the Company’s IPO, the legal form of ATAI Life Sciences B.V. was converted from a Dutch private company with limited liability to a Dutch public company, and the articles of association of ATAI Life Sciences N.V., became effective. Following the Corporate Reorganization, ATAI Life Sciences N.V. became the holding company of ATAI Life Sciences AG.

The Corporate Reorganization, as described above, is considered a continuation of ATAI Life Sciences AG resulting in no change in the carrying values of assets or liabilities. As a result, the financial statements for periods prior to the Corporate Reorganization are the financial statements of ATAI Life Sciences AG as the predecessor to atai for accounting and reporting purposes. All share, per-share and related information presented in these condensed consolidated financial statements and corresponding disclosure notes have been retrospectively adjusted, where applicable, to reflect the impact of the share exchange and share split resulting from the Corporate Reorganization. In connection with the Corporate Reorganization, outstanding share awards and option grants of ATAI Life Sciences AG were exchanged for share awards and option grants of ATAI Life Sciences B.V. with identical restrictions.

On June 22, 2021, atai closed the IPO of its common shares on the Nasdaq Stock Market ("Nasdaq"). As part of the IPO, the Company issued and sold 17,250,000 shares of its common shares, which included 2,250,000 shares sold pursuant to the exercise of the underwriters’ over-allotment option, at a public offering price of $15.00 per share. The Company received net proceeds of approximately $231.6 million from the IPO, after deducting underwriters’ discounts and commissions of $18.1 million and offering costs of $9.0 million.

Impact of COVID-19 Pandemic

The COVID-19 pandemic has continued to present global public health and economic challenges during the six months ended June 30, 2022. Although some research and development timelines have been impacted by delays related to the COVID-19 pandemic, the Company has not experienced material financial impacts on its business and operations as a result. The Company continues to monitor the impact of the COVID-19 pandemic on its employees and business and has undertaken business continuity measures to mitigate potential disruption to its operations.

The future impact of COVID-19 on the Company’s business and operations, including its research and development programs and related clinical trials, will largely depend on future developments, which are highly uncertain, such as the duration of the pandemic, the spread of the disease and variants thereof, the availability and effectiveness of vaccines and related roll-out efforts, breakthrough infections among the vaccinated, vaccine hesitancy, the implementation of vaccine mandates, travel restrictions, social distancing and related government actions around the world, business closures or business disruptions and the ultimate impact of COVID-19 on financial markets and the global economy.

Liquidity and Going Concern

The Company has incurred significant losses and negative cash flows from operations since its inception. As of June 30, 2022, the Company had cash and cash equivalents of $84.1 million, short-term securities of $228.4 million and its accumulated deficit was $431.3 million. The Company has historically financed its operations through the sale of equity securities, 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 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 currently expects that its existing cash and cash equivalents and short-term securities as of June 30, 2022 will be sufficient to fund its operating expenses and capital expenditure requirements for at least the next 12 months from the date the condensed consolidated financial statements are issued.

Basis of Presentation and Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2022

Accounting Policies [Abstract]

Basis of Presentation and Summary of Significant Accounting Policies

2. Basis of Presentation 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.

The Company's condensed consolidated financial statements include the accounts of the Company and the accounts of the Company's subsidiaries. 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”). All intercompany transactions and accounts have been eliminated in consolidation.

The unaudited interim 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 and six months ended June 30, 2022 are not necessarily indicative of the results to be expected for the year ending December 31, 2022 or for any other future annual or interim period. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in the Company’s Annual Report on Form 10-K filed with the SEC on March 30, 2022.

Reclassification of Prior Year Presentation

Certain prior year amounts have been reclassified for consistency with the current year presentation. These reclassifications had no effect on the reported results of operations. An adjustment has been made to the condensed consolidated statements of operations for the three and six month periods ended June 30, 2021 to reclassify the foreign exchange loss. The foreign exchange loss for the three and six month periods ended June 30, 2021 was previously included in the other expense, net financial statement line.

Significant Accounting Policies

During the six months ended June 30, 2022, there were no significant changes 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, 2021 except as described below.

Use of Estimates

The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Significant estimates and assumptions made in the accompanying condensed consolidated financial statements include, but are not limited to the fair value of the Company’s investment in Intelgenx Technologies Corp. (“IntelGenx”), securities carried at fair value, contingent consideration liability—related parties, in-process research and development assets (“IPRD”), redeemable noncontrolling interests and noncontrolling interests

recognized in acquisitions, the valuations of common shares prior to IPO and share-based awards, and accruals for research and development costs.

The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable. Actual results may differ from those estimates or assumptions.

Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with original maturities of three months or less from the purchase date to be cash equivalents. As of June 30, 2022 and December 31, 2021, cash and cash equivalents consisted of cash on deposit and cash held in high-yield savings accounts and money market funds.

Investment Securities Portfolio

The following table sets forth the fair value of atai's available-for-sale securities portfolio at the dates indicated:


	Fair Value
	June 30, 2022		December 31, 2021
Money Market Funds	$	38,878	$	—
U.S. Treasuries		3,478		—
Commercial Paper		114,880		—
Corporate Notes/Bonds		107,045		—
U.S. Government Agencies		2,951		—
	$	267,232	$	—

In January 2022, the Company invested in a certain investment portfolio, which is comprised of Money Market Funds, U.S. Treasury securities, Commercial Paper, Corporate Notes/Bonds, and U.S. government agencies securities. The Company classified securities in the investment portfolio as available-for-sale securities. Furthermore, the Company elected the fair value option for the available-for-sale securities in the investment portfolio (see Note 7). The decision to elect the fair value option, which is irrevocable once elected, is determined on an instrument-by-instrument basis and applied to an entire instrument. The net gains or losses, if any, on an investment for which the fair value option has been elected are recognized as a change in fair value of securities on the Consolidated Statements of Operations and the amortized cost of investments approximates their fair value.

Fair Value Measurements

Assets and liabilities recorded at fair value on a recurring basis in the consolidated balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair values. Fair value is defined as the exchange price that would be received for an asset or an exit price that would be paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The authoritative guidance on fair value measurements establishes a three-tier fair value hierarchy for disclosure of fair value measurements as follows:

Level 1—Observable inputs such as unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date;

Level 2—Inputs (other than quoted prices included in Level 1) are either directly or indirectly observable for the asset or liability. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active; and

Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

The Company’s contingent consideration liability—related parties, derivative liability associated with the Perception convertible promissory notes, IntelGenx Initial Warrants and IntelGenx Additional Units Warrant, and warrant liability with Neuronasal Inc. are carried at fair value, determined according to Level 3 inputs in the fair value hierarchy described above (See Note 7). The IntelGenx common stock and securities carried at fair value are determined according to Level 2 inputs in the fair value hierarchy above. The carrying amount reflected in the accompanying consolidated balance sheets for cash, prepaid expenses and other current assets, accounts payable and accrued expenses approximate their fair values, due to their short-term nature.

The carrying amounts of the Company’s remaining outstanding convertible promissory notes—related parties issued in 2018 and 2020 (collectively, the “2018 Convertible Notes”) do not approximate fair value because the fair value is driven by the underlying value of the Company’s common shares into which the notes are to be converted. As of June 30, 2022, the carrying amount and fair value amount of the 2018 Convertible Notes was $0.6 million and $28.8 million, respectively. As of December 31, 2021, the carrying amount and fair value amount of the 2018 Convertible Notes was $0.8 million and $69.7 million, respectively. Subsequent to the IPO, several noteholders of the 2018 Convertible Notes elected to convert their promissory notes into the Company's common shares. See Note 10 for additional discussion.

Fair Value Option

As permitted under Accounting Standards Codification 825, Financial Instruments, or ASC 825, the Company has elected the fair value option to account for its investment in common shares of IntelGenx, which otherwise would be subject to ASC 323. In accordance with ASC 825, the Company records this investment at fair value under Other investments held at fair value in the Company's consolidated balance sheets and changes in fair value are recognized as a component of other income (expense), net in the consolidated statements of operations. The carrying value of the investment remained at zero as of June 30, 2022 and December 31, 2021, respectively.

Furthermore, as noted above the Company also elected the fair value option for its investment securities portfolio.

Emerging Growth Company Status

The Company is an emerging growth company, as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that it (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, these consolidated financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates.

As described in “Recently Adopted Accounting Pronouncements” below, the Company early adopted certain accounting standards, as the JOBS Act does not preclude an emerging growth company from adopting a new or revised accounting standard earlier than the time that such standard applies to private companies. The Company expects to use the extended transition period for any other new or revised accounting standards during the period in which it remains an emerging growth company.

Recently Adopted Accounting Pronouncements

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which is a comprehensive new lease standard that amends various aspects of existing accounting guidance for leases. The core principle of Topic 842 requires lessees to recognize on the consolidated balance sheets a liability to make lease payments and a right-of-use asset representing its right to use the underlying asset for the lease term for both finance and operating leases with lease terms greater than twelve months. The lease liability is measured at the present value of the unpaid lease payments and the right-of-use asset is derived from the calculation of the lease liability. Topic 842 also requires lessees to disclose key information about leasing arrangements. For public entities, ASU 2016-02 is effective for fiscal years beginning after December 15, 2018. As a result of the Company having elected the extended transition period for complying with new or revised accounting standards pursuant to Section 107(b) of the JOBS Act, ASU 2016-02 is effective for the Company beginning after December 15, 2021.

The Company adopted the new standard on January 1, 2022 using the modified transition approach as of the effective date.

The new standard provides a number of optional practical expedients in transition. The Company elected the “package of practical expedients,” which permitted it to not reassess under the new standard its prior conclusions about lease identification, lease classification, and initial direct costs. As a result, the Company has continued to account for existing leases - i.e. leases for which the commencement date is before January 1, 2022 - in accordance with Topic 840 throughout the entire lease term, including periods after the effective date, with the exception that the Company applied the new balance sheet recognition guidance for operating leases and applied Topic 842 for remeasurements and modifications after the Transition Date. The Company also elected the hindsight expedient in determining the lease term and assessing impairment of right-of-use assets when transitioning to ASC 842. As a result, the Company evaluated the lease term for its existing leases as of the transition date, January 1, 2022.

The most significant impact of the adoption of Topic 842 on the Company’s condensed consolidated financial statements was the recognition of a $0.2 million operating lease right-of-use asset, a $0.1 million current operating lease liability, and a $0.1 million long-term operating lease liability on the Company’s condensed consolidated balance sheet related to its existing facility operating lease. The Company did not have a deferred rent liability recorded in connection with its existing facility operating lease. There was no material impact to the Company’s condensed consolidated balance sheet, statement of operations, and no cumulative-effect adjustment to

accumulated deficit. The Company recorded an immaterial amount of general and administrative expense in its consolidated statement of operations related to lease expense, including short-term lease expense during the three and six months ended June 30, 2022.

Recently Issued Accounting Pronouncements Not Yet Adopted

In June 2016, the FASB issued ASU 2016-13, Financial Instruments — Credit Losses. This update requires immediate recognition of management’s estimates of current expected credit losses. Under the prior model, losses were recognized only as they were incurred. The new model is applicable to most financial assets and certain other instruments that are not measured at fair value through net income. In November 2019, the FASB issued ASU 2019-10, which delays adoption for "smaller reporting companies" as defined under the rules promulgated under the Exchange Act. Although, as of December 31, 2021, the Company was no longer a smaller reporting company, the Company qualified as a smaller reporting company at the time of its initial public offering and, as such, in accordance with ASU 2019-10, the effective date for adoption by the Company will begin after December 31, 2022. The Company does not expect that the adoption of this new standard will have a material impact on its condensed consolidated financial statements and related disclosures.

Acquisitions

6 Months Ended

Jun. 30, 2022

Business Combinations [Abstract]

Acquisitions

3. Acquisitions

2021 Acquisitions

PsyProtix, Inc.

In February 2021, the Company jointly formed PsyProtix with Chymia, LLC (“Chymia”). PsyProtix was created for the purpose of exploring and developing a metabolomics-based precision psychiatry approach, initially targeting the stratification and treatment of Treatment Resistant Depression (“TRD”) patients. In February 2021, pursuant to a Series A Preferred Stock Purchase Agreement (the “PsyProtix Purchase Agreement”), the Company acquired shares of PsyProtix’s Series A preferred stock in exchange for an initial payment of $0.1 million in cash. In addition, pursuant to the PsyProtix Purchase Agreement, the Company agreed to make aggregate payments to PsyProtix of up to $4.9 million upon the achievement of specified clinical milestones to complete the purchase of the shares and provide additional funding to PsyProtix. The PsyProtix Purchase Agreement resulted in the Company holding a 75.0% voting interest and Chymia holding a 25.0% voting interest in PsyProtix. In connection with the Company’s agreement for additional funding, PsyProtix issued the corresponding Series A preferred shares to the Company provided that the shares are held in an escrow account (the “PsyProtix Escrow Shares”). The PsyProtix Escrow Shares will be released, from time to time, to the Company upon PsyProtix achieving certain milestones as defined in the PsyProtix Purchase Agreement with cash payments to be made by the Company. In addition, the Company has the right, but not the obligation, to make payment for the certain PsyProtix Escrow Shares at any time, regardless of the achievement of any milestones. The PsyProtix Escrow Shares have voting and all other rights until an event of default occurs where the Company fails to make a payment within 10 days following the written notice of the achievement of the relevant milestone. In the event of default, PsyProtix shall automatically repurchase a pro rata portion of the Escrow Shares from atai (“Repurchase Event”) for a purchase price per share equal to the par value of such Escrow Shares. Upon the Repurchase Event, the Escrow Shares are released from escrow to PsyProtix and thereafter cancelled. The Repurchase Event is the sole remedy upon atai’s failure to make the payment for the milestone shares. In addition, prior to the occurrence of the earlier of a certain milestone event or reaching of the Company’s capital contribution threshold of $5.0 million, PsyProtix will issue additional shares of common stock to Chymia to maintain Chymia’s current ownership percentage. This anti-dilution right was concluded to be embedded in the common shares held by Chymia.

Immediately following the closing of the PsyProtix Purchase Agreement, PsyProtix loaned $0.1 million to Chymia in exchange for a duly executed promissory note (the “Chymia Note”). The Chymia Note shall accrue interest at a 5% rate per annum until payment in full. The aggregate principal amount of $0.1 million, together with all accrued and unpaid interest and all other amounts payable are due to be paid on the date that is the earlier of (i) five years from the promissory note agreement date or (ii) the occurrence of a liquidation event or a deemed liquidation event (as defined in the PsyProtix’s certificate of incorporation). As of June 30, 2022, the Chymia Note was $0.1 million and included as a component of long-term notes receivable—related parties on the consolidated balance sheets.

The PsyProtix Purchase Agreement provided the Company unilateral rights to control all decisions related to the significant activities of PsyProtix. The Company concluded that PsyProtix was not considered a business based on its assessment under ASC 805 and accounted for the Company’s acquisition in PsyProtix as an initial consolidation of a VIE that is not a business under ASC 810 (See Note 4). The assets acquired, liabilities assumed, and noncontrolling interest in the transaction were measured based on their fair values. The Company did not recognize a gain or a loss in connection with the consolidation of PsyProtix as the fair value of the consideration paid of $0.1 million was equivalent to the fair value of the identifiable assets acquired of $0.1 million.

In October 2021, pursuant to the Board consent letter and the PsyProtix Purchase Agreement discussed above, the Company released a payment in the amount of $0.5 million upon the achievement of specified clinical milestones. Accordingly, 500,000 shares of Series A Preferred Stock were released from the escrow account to the Company. The Company's equity ownership interest in PsyProtix remained unchanged as the PsyProtix Escrow Shares were already deemed issued, outstanding and legally owned by atai.

Psyber, Inc.

Psyber is a globally based startup focused on the development of brain-computer interface-enabled digital therapeutics for treating mental health issues. Psyber was created as a joint venture between the Company and the founders of Psyber. In February 2021, pursuant to a Series A Preferred Stock Purchase Agreement (the “Psyber Purchase Agreement”), the Company acquired shares of Psyber’s Series A Preferred Stock in exchange for an initial payment of $0.2 million in cash. In addition, pursuant to the Psyber Purchase Agreement, the Company agreed to make aggregate payments to Psyber of up to $1.8 million upon the achievement of specified clinical milestones to complete the purchase of the shares and provide additional funding to Psyber. The Psyber Purchase Agreement resulted in the Company holding a 75.0% voting interest and the founders of Psyber jointly holding a 25.0% voting interest in Psyber. In connection with the Company’s agreement for additional funding, Psyber issued the corresponding Series A preferred shares to the Company provided that the shares are held in an escrow account (the “Psyber Escrow Shares”). The Psyber Escrow Shares will be released, from time to time, to the Company upon Psyber achieving certain milestones as defined in the Psyber Purchase Agreement with cash payments to be made by the Company. In addition, the Company has the right, but not the obligation, to make payment for the certain Psyber Escrow Shares at any time, regardless of the achievement of any milestones. The Psyber Escrow Shares have voting and all other rights until an event of default occurs where the Company fails to make a payment within 10 days following the written notice of the achievement of the relevant milestone. In the event of default, Psyber shall automatically repurchase a pro rata portion of the Escrow Shares from atai (“Repurchase Event”) for a purchase price per share equal to the par value of such Escrow Shares. Upon the Repurchase Event, the Escrow Shares are released from escrow to Psyber and thereafter cancelled. The Repurchase Event is the sole remedy upon atai’s failure to make the payment for the milestone shares. In addition, prior to the occurrence of the earlier of a certain milestone event or reaching of the Company’s capital contribution threshold of $2.0 million, Psyber will issue additional shares of common stock to the founders of Psyber to maintain the founders’ current ownership percentage. This anti-dilution right was concluded to be embedded in the common shares held by the founders of Psyber.

The Psyber Purchase Agreement provided the Company unilateral rights to control all decisions related to the significant activities of Psyber. The Company concluded that Psyber was not considered a business based on its assessment under ASC 805 and accounted for the Company’s acquisition in Psyber as an initial consolidation of a VIE that is not a business under ASC 810 (See Note 4). The assets acquired, liabilities assumed, and noncontrolling interest in the transaction were measured based on their fair values. The Company recognized a de minimis gain for the three months ended March 31, 2021. The gain was calculated as the sum of the consideration paid of $0.2 million, less the fair value of identifiable net assets acquired of $0.2 million.

InnarisBio, Inc.

In February 2021, the Company jointly formed InnarisBio with UniQuest Pty Ltd (“UniQuest”) for the purpose of adding a solgel-based direct-to-brain intranasal drug delivery technology to the Company’s platform. In March 2021, pursuant to a Series A Preferred Stock Purchase Agreement (the “InnarisBio Purchase Agreement”), the Company acquired shares of InnarisBio’s Series A preferred stock in exchange for an initial payment of $1.1 million in cash. In addition, pursuant to the InnarisBio Purchase Agreement, the Company agreed to make aggregate payments to InnarisBio of up to $3.9 million upon the achievement of specified clinical milestones to complete the purchase of the shares and provide additional funding to InnarisBio. The InnarisBio Purchase Agreement resulted in the Company holding an 82.0% voting interest and UniQuest holding a 18.0% voting interest in InnarisBio. In connection with the Company’s agreement for additional funding, InnarisBio issued the corresponding shares of Series A preferred stock to the Company provided that the shares are held in an escrow account (the “InnarisBio Escrow Shares”). The InnarisBio Escrow Shares will be released, from time to time, to the Company upon InnarisBio achieving certain milestones as defined in the InnarisBio Purchase Agreement with cash payments to be made by the Company. In addition, the Company has the right, but not the obligation, to make payment for the InnarisBio Escrow Shares at any time, regardless of the achievement of any milestones. The InnarisBio Escrow Shares have voting and all other rights until an event of default occurs where the Company fails to make a payment within 10 days following the written notice of the achievement of the relevant milestone. In the event of default, InnarisBio shall automatically repurchase a pro rata portion of the Escrow Shares from atai (“Repurchase Event”) for a purchase price per share equal to the par value of such Escrow Shares. Upon the Repurchase Event, the Escrow Shares are released from escrow to InnarisBio and thereafter cancelled. The Repurchase Event is the sole remedy upon atai’s failure to make the payment for the milestone shares.

The InnarisBio Purchase Agreement provided the Company unilateral rights to control all decisions related to the significant activities of InnarisBio. The Company concluded that InnarisBio was not considered a business based on its assessment under ASC 805 and accounted for the Company’s acquisition in InnarisBio as an initial consolidation of a VIE that is not a business under ASC 810 (See Note 4). The assets acquired, liabilities assumed, and noncontrolling interest in the transaction were measured based on their fair values. The Company recognized a de minimis loss on consolidation for the three months ended March 31, 2021. The loss was calculated as the sum of the consideration paid of $1.1 million, the fair value of the noncontrolling interest issued of $0.9 million, less the fair value of identifiable net assets acquired of $2.0 million. The fair value of the contingent milestone payments of $0.1 million was included in the total purchase consideration for the noncontrolling interest and recognized as a liability by InnarisBio at the date of acquisition. The fair value of the IPR&D acquired of $1.0 million was reflected as acquired in-process research and development expense on the consolidated statements of operations for the three months ended March 31, 2021 as it had no alternative future use at the time of the acquisition.

In November 2021, pursuant to the InnarisBio Purchase Agreement discussed above, the Company released a payment in the amount of $1.2 million upon the achievement of specified clinical milestones. Accordingly, 1,238,000 shares of Series A Preferred Stock were released from the escrow account to the Company. The Company's equity ownership interest in InnarisBio remained unchanged as the InnarisBio Escrow Shares were already deemed issued, outstanding and legally owned by the Company.

Neuronasal, Inc.

Neuronasal, Inc. (“Neuronasal”) is developing a novel intranasal formulation of N-acetylcysteine for acute mild traumatic brain injury. The Company first acquired investments in Neuronasal in December 2019 pursuant to a Preferred Stock Purchase Agreement (the “Neuronasal PSPA”). In December 2019, in connection with the original purchase of the preferred shares, Neuronasal and the Company entered into the Secondary Sale and Put Right Agreement (the “Neuronasal Secondary Sale Agreement”), whereby upon the achievement of certain contingent development milestones, existing common shareholders have the right to sell and the Company has the option but not the obligation to purchase additional shares of common stock at a price determined based on the fair market value per share on the date of exercise. These options that will allow the Company to purchase additional common shares are contingent upon the exercise of the options by Neuronasal’s common shareholders to sell shares to the Company. On March 10, 2021, pursuant to the Neuronasal PSPA, the Company purchased additional Series A preferred shares for approximately $0.8 million based on the achievement of certain development milestones. Also, pursuant to the Neuronasal Secondary Sale Agreement, the Company purchased additional common shares for approximately $0.3 million. On May 17, 2021, pursuant to the Neuronasal PSPA the Company exercised its option to purchase additional shares of Series A preferred stock of Neuronasal for an aggregate cost of $1.0 million. The additional purchase on May 17, 2021 resulted in the Company obtaining an aggregate 56.5% ownership interest in Neuronasal, including the Company’s previously acquired investments in Neuronasal’s common and preferred stock, and provided the Company with control of Neuronasal’s board of directors and the unilateral rights to control all decisions related to the significant activities of Neuronasal. Prior to May 17, 2021, the Company accounted for its investments in Neuronasal’s common stock under the equity method and Neuronasal’s preferred stock under the measurement alternative (See Note 5). Following the closing of this acquisition on May 17, 2021, the results of Neuronasal have been consolidated in the Company’s consolidated financial statements.

TryptageniX, Inc.

TryptageniX, Inc. ("TryptageniX"), a Delaware corporation, was incorporated by CB Therapeutics, Inc. (“CBT”) on November 17, 2021, for the purpose of developing and commercializing Intellectual Property (“IP”) and to develop innovative biosynthetic methods to manufacture bioidentical, clinically relevant compounds, including psychoactive compounds which are highly difficult to produce sustainably through traditional methods. TryptageniX will generate New Chemical Entities (“NCE"). In December 2021, pursuant to the Stock Purchase Agreement ("TryptageniX-ATAI Stock Purchase Agreement"), atai acquired Class A Common Stock in exchange for $2.0 million and received a certificate representing additional Class A Common Stock to be held in escrow ("Escrow Shares") by TryptageniX to be released upon achievement of specified clinical milestones and corresponding milestone payments. The TryptageniX-ATAI Stock Purchase Agreement resulted in the Company holding a 65% equity ownership interest and CBT holding a 35% equity ownership interest in TryptageniX. The Escrow Shares will be released, from time to time, to the Company upon TryptageniX achieving certain milestones as defined in the TryptageniX Purchase Agreement with cash payments to be made by the Company. Notwithstanding anything to the contrary, atai shall be the owner of the Escrow Shares and has the right, but not the obligation, to make payment for the Escrow Shares at any time, regardless of the achievement of any milestones. The Escrow Shares have voting and all other rights until an event of default occurs where the Company fails to make a payment within 10 days following the written notice of the achievement of the relevant milestone. In the event of default, TryptageniX shall automatically repurchase a pro rata portion of the Escrow Shares from atai (“Repurchase Event”) for a purchase price per share equal to the par value of such Escrow Shares. Upon the Repurchase Event, the Escrow Shares are released from escrow to TryptageniX and thereafter cancelled. The Repurchase Event is the sole remedy upon atai’s failure to make the payment for the milestone shares.

On December 3, 2021, the Company made an additional payment of $1.0 million to CBT for the first installment of a $2.0 million exclusivity fee to become a party to the TryptageniX-ATAI Stock Purchase Agreement. The fee represents the exclusive right to the CBT technology and know-how defined in the TryptageniX Stockholders Agreement. The remaining installment of $1.0 million shall be paid no later than the second anniversary of the acquisition date, either in cash or in common shares of atai.

The TryptageniX-ATAI Stock Purchase Agreement provided the Company unilateral rights to control all decisions related to the significant activities of TryptageniX. The Company concluded that the acquired assets and activities of TryptageniX did not constitute a business based on its assessment under ASC 805 and accounted for the acquisition as an initial consolidation of a VIE that is not a business under ASC 810 (See Note 4). The assets acquired, liabilities assumed, and noncontrolling interest in the transaction were measured based on their fair values. The Company did not recognize a gain or a loss in connection with the consolidation of TryptageniX as the fair value of the consideration paid of $1.0 million was equivalent to the fair value of identifiable net assets acquired of $6.5 million, less the fair value of the noncontrolling interest issued of $3.9 million, fair value of the contingent consideration of $0.9 million, and fair value of liability for seller financing of $0.8 million. In December 2021, the Company elected to expense the entire fair value of the acquired IPR&D asset of $6.5 million as it had no alternative use at the acquisition date.

All acquisitions discussed above were considered as asset acquisitions and no goodwill was recognized upon consolidation.

Variable Interest Entities and a Voting Interest Entity

6 Months Ended

Jun. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entities and a Voting Interest Entity

4. 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 condensed consolidated financial statements from the date of acquisition to June 30, 2022.

As of June 30, 2022 and December 31, 2021, the Company has accounted for the following consolidated investments as VIEs, excluding the wholly owned subsidiaries:


Consolidated Entities	Relationship as of June 30, 2022	Relationship as of December 31, 2021	Date Control Obtained	Ownership % June 30, 2022	Ownership % December 31, 2021
Perception Neuroscience Holdings, Inc.	Controlled VIE	Controlled VIE	November 2018	58.9%	58.9%
Kures, Inc.	Controlled VIE	Controlled VIE	August 2019	64.5%	54.1%
EntheogeniX Biosciences, Inc.	Controlled VIE	Controlled VIE	November 2019	80.0%	80.0%
DemeRx IB, Inc.	Controlled VIE	Controlled VIE	December 2019	59.5%	59.5%
Recognify Life Sciences, Inc.	Controlled VIE	Controlled VIE	November 2020	51.9%	51.9%
PsyProtix, Inc.	Controlled VIE	Controlled VIE	February 2021	75.0%	75.0%
Psyber, Inc.	Controlled VIE	Controlled VIE	February 2021	75.0%	75.0%
InnarisBio, Inc.	Controlled VIE	Controlled VIE	March 2021	82.0%	82.0%
Neuronasal, Inc.	Controlled VIE	Controlled VIE	May 2021	56.5%	56.5%
TryptageniX Inc.	Controlled VIE	Controlled VIE	December 2021	65.0%	65.0%

As of June 30, 2022 and December 31, 2021, 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.

EntheogeniX Biosciences, Inc.

In November 2019, the Company entered into a series of agreements with Cyclica Inc. ("Cyclica") to form EntheogeniX Biosciences, Inc. ("EntheogeniX"), a company dedicated to developing the next generation of innovative mental health drugs employing an AI-enabled computational biophysics platform designed to optimize and accelerate drug discovery. Based on the Company's assessment of the transaction at the time of acquisition, the Company concluded that EntheogeniX was not a business and accounted for the Company's investment as an initial consolidation of a VIE that is not a business under ASC 810.

In February 2022, pursuant to the business plan as contemplated in the Stockholders Agreement and Subscription for Shares pursuant to the Contribution and Subscription Agreement, atai purchased additional shares of Class A common stock for an aggregate purchase price of $1.0 million. As a result of anti-dilution protection available to Cyclica, the Company's ownership percentage in EntheogeniX did not

change due to the Class A common stock purchase. As of June 30, 2022 and December 31, 2021, the Company owned 80% of the outstanding common stock of EntheogeniX.

The purchase of additional Class A common stock was deemed to be a reconsideration event. The Company determined that EntheogeniX is still considered a VIE subsequent to the additional Class A common stock purchase as EntheogeniX does not have sufficient equity at risk to carry out its principal activities without additional subordinated financial support.

The following table presents the assets and liabilities (excluding intercompany balances that were eliminated in consolidation) for all VIEs as of June 30, 2022 (in thousands):


	Perception		Kures		EntheogeniX		DemeRx IB		Recognify		PsyProtix		Psyber		InnarisBio		Neuronasal			TryptageniX
Assets:
Current assets:
Cash	$	16,288	$	3,044	$	760	$	7,374	$	2,023	$	143	$	1,021	$	862	$	(61	)	$	1,814
Accounts receivable		170		—		—		—		—		—		—		—		—			—
Prepaid expenses and other current assets		1,497		45		46		106		—		66		—		411		64			3,000
Total current assets		17,955		3,089		806		7,480		2,023		209		1,021		1,273		3			4,814
Long term notes receivable		—		—		—		1,075		—		107		—		—		—			—
Other assets		—		—		—		—		—		—		198		—		—			—
Total assets	$	17,955	$	3,089	$	806	$	8,555	$	2,023	$	316	$	1,219	$	1,273	$	3		$	4,814
Liabilities:
Current liabilities:
Accounts payable	$	824	$	442	$	261	$	456	$	130	$	223	$	29	$	37	$	353		$	145
Accrued liabilities		624		418		184		612		165		71		36		128		661			378
Other current liabilities		505		1		—		228		1		—		—		1		41			—
Total current liabilities		1,953		861		445		1,296		296		294		65		166		1,055			523
Contingent consideration liability		1,420		—		—		—		—		—		—		88		—			830
Other non-current liabilities		—		—		—		—		—		—		—		—		283			10
Total liabilities	$	3,373	$	861	$	445	$	1,296	$	296	$	294	$	65	$	254	$	1,338		$	1,363

The following table presents the assets and liabilities (excluding intercompany balances that were eliminated in consolidation) for all consolidated VIEs as of December 31, 2021 (in thousands):


	Perception		Kures		EntheogeniX		DemeRx IB		Recognify		PsyProtix		Psyber		InnarisBio		Neuronasal		TryptageniX
Assets:
Current assets:
Cash	$	23,099	$	1,048	$	198	$	8,511	$	2,519	$	512	$	542	$	1,487	$	95	$	2,000
Unbilled receivable		64		—		—		—		—		—		—		—		—		—
Prepaid expenses and other current assets		1,138		104		—		70		4		1		—		62		207		—
Total current assets		24,301		1,152		198		8,581		2,523		513		542		1,549		302		2,000
Property and equipment, net		1		—		—		—		—		—		—		—		—		—
Long term notes receivable		—		—		—		1,075		—		104		—		—		—		—
Other assets		—		—		—		—		—		—		99		—		—		—
Total assets	$	24,302	$	1,152	$	198	$	9,656	$	2,523	$	617	$	641	$	1,549	$	302	$	2,000
Liabilities:
Current liabilities:
Accounts payable	$	598	$	235	$	53	$	439	$	29	$	51	$	15	$	—	$	326	$	—
Accrued liabilities		887		120		9		180		44		50		63		10		749		—
Current portion of contingent consideration liability - related parties		51		—		—		—		—		—		—		—		—		—
Deferred revenue		12		—		—		—		—		—		—		—		—		—
Short-term notes payable		—		—		—		—		—		—		—		—		38		—
Total current liabilities		1,548		355		62		619		73		101		78		10		1,113		—
Contingent consideration liability		1,489		—		—		—		—		—		—		93		—		850
Other non-current liabilities		—		—		—		—		—		—		—		—		336		820
Total liabilities	$	3,037	$	355	$	62	$	619	$	73	$	101	$	78	$	103	$	1,449	$	1,670

Noncontrolling Interests

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


	Perception			Kures		Recognify			Psyber		InnarisBio		Total
Balance as of December 31, 2021	$	5,232		$	—	$	3,819		$	—	$	—	$	9,051
Net loss attributable to noncontrolling interests - preferred		(571	)		—		(118	)		—		—		(689	)
Comprehensive loss attributable to noncontrolling interests		(11	)		—		—			—		—		(11	)
Balance as of March 31, 2022	$	4,650		$	—	$	3,701		$	—	$	—	$	8,351
Issuance of noncontrolling interests		—			957		—			—		—		957
Net loss attributable to noncontrolling interests - preferred		(800	)		—		(91	)		—		—		(891	)
Comprehensive income attributable to noncontrolling interests		30			—		—			—		—		30
Balance as of June 30, 2022	$	3,880		$	957	$	3,610		$	—	$	—	$	8,447


	Perception			Recognify			Psyber			InnarisBio			Neuronasal			Total
Balance as of December 31, 2020	$	—		$	4,546		$	—		$	—		$	—		$	4,546
Issuance of noncontrolling interests		—			—			8			877			—			885
Net income (loss) attributable to noncontrolling interests - common		1,755			—			(8	)		(877	)		—			870
Net income (loss) attributable to noncontrolling interests - preferred		2,608			(122	)		—			—			—			2,486
Comprehensive loss attributable to noncontrolling interests		(184	)		—			—			—			—			(184	)
Balance as of March 31, 2021	$	4,179		$	4,424		$	—		$	—		$	—		$	8,603
Issuance of noncontrolling interests		3,257			—									392			3,649
Net income (loss) attributable to noncontrolling interests - common		(1,755	)		(217	)								(392	)		(2,364	)
Net income (loss) attributable to noncontrolling interests - preferred		7			—			—			—			—			7
Comprehensive loss attributable to noncontrolling interests		150			—			—			—			—			150
Balance as of June 30, 2021	$	5,838		$	4,207		$	—		$	—		$	—		$	10,045

Redeemable Noncontrolling Interests

In connection with the consolidation of Kures, Inc. (“Kures”) the Company recognized the shares of Kures common stock and Series A-1 preferred stock held by the founders of Kures as redeemable noncontrolling interests as they contain embedded put options that are exercisable by the founders following a successful completion of a future event, which is not solely within the control of the Company.

In connection with the consolidation of DemeRx IB, the Company recognized common stock held by DemeRx as redeemable noncontrolling interests as they are redeemable upon the occurrence of events that are not solely within the control of the Company.

In connection with the consolidation of Neuronasal, the Company recognized the shares of Neuronasal common stock held by the founders of Neuronasal as redeemable noncontrolling interests as they contain embedded put options that are exercisable by the founders following a successful completion of a future event, which is not solely within the control of the Company.

The redeemable noncontrolling interests were initially measured at fair value upon issuance and are redeemable at fair value at the holder’s option upon the successful completion or occurrence of future events. As of June 30, 2022 and December 31, 2021, the Company did not adjust the carrying value of the redeemable noncontrolling interests based on their estimated redemption values since it was not probable

that the events that would allow the shares to become redeemable would occur. Subsequent adjustments to increase or decrease the carrying values of the redeemable noncontrolling interests to their estimated redemption values will be made if and when it becomes probable that such events will occur.

As of June 30, 2022 and December 31, 2021, the balance of redeemable noncontrolling interests in temporary equity on the consolidated balance sheets was zero. The amount of net loss attributable to redeemable noncontrolling interests of $0 million and $0 million are included in consolidated net loss on the face of the condensed consolidated statements of operations for the three months ended June 30, 2022 and 2021, respectively.


	Kures		Neuronasal			Total
Balance as of December 31, 2020	$	—	$	—		$	—
Issuance of redeemable noncontrolling interests		—		—			—
Net loss attributable to redeemable noncontrolling interests - common		—		—			—
Balance as of March 31, 2021	$	—	$	—		$	—
Issuance of redeemable noncontrolling interests		—		2,555			2,555
Net loss attributable to redeemable noncontrolling interests - common		—		(2,555	)		(2,555	)
Balance as of June 30, 2021	$	—	$	—		$	—

Non-consolidated VIEs

The Company evaluated the nature of its investments in Innoplexus AG (“Innoplexus”), DemeRx NB, Inc. (“DemeRx NB”) and IntelGenx and determined that the investments are VIEs as of the date of the Company’s initial investment through June 30, 2022. The Company is not the primary beneficiary 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 that would require consolidation as of June 30, 2022 and December 31, 2021.

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 5). As of June 30, 2022, the Company’s maximum exposure for its non-consolidated VIEs was $9.2 million relating to the carrying values in other investments and other investments held at fair value and $7.0 million relating to the carrying value in long term notes receivable – related party. As of December 31, 2021, the Company’s maximum exposure for its non-consolidated VIEs was $11.6 million relating to the carrying values in its other investments and $3.8 million relating to the carrying value in short term notes receivable—related party.

Equity Method Investment and Other Investment

6 Months Ended

Jun. 30, 2022

Cash and Cash Equivalents [Abstract]

Equity Method Investments and Other Investments

5. Equity Method Investments and Other Investments

Equity Method Investments

As of June 30, 2022 and December 31, 2021, the Company accounted for the following investments in the investee’s common stock under the equity method (amounts in thousands):


		As of June 30, 2022				As of December 31, 2021
	Date First	Common Stock		Carrying		Common Stock		Carrying
Investee	Acquired	Ownership %		Value		Ownership %		Value
Innoplexus A.G.	August 2018	35.0%		$	—	35.0%		$	—
COMPASS Pathways plc	December 2018	22.5%			1,162	22.8%			16,131
GABA Therapeutics, Inc	November 2020	7.5%	(1)		—	7.5%	(1)		—
Total				$	1,162			$	16,131

(1)

The Company is deemed to have significant influence over this entity through its total ownership interest in the entity’s equity, including the Company’s investment in the respective entity’s preferred stock, described below in Other Investments.

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.

Equity Investment

Through a series of open market transactions between November 23, 2021 and December 7, 2021, the Company purchased an additional 1,490,111 of COMPASS ADSs at an aggregate purchase price of $47.4 million. The additional shares acquired resulted in an increase in

the Company’s ownership of COMPASS ADSs to 22.8%. The Company applied the cost accumulation model and recorded its investment at cost. At the date of the investment, a basis difference was identified as the cost basis of the Company’s investment in COMPASS exceeded the Company’s proportionate share of the underlying net assets in COMPASS. The Company concluded that the basis differences were primarily attributable to COMPASS’s IPR&D associated with COMP360, a psilocybin therapy, which COMPASS recently completed a Phase IIb clinical trial for. As the Company’s investment in COMPASS did not meet the definition of a business due to substantially all of the estimated fair value of the gross assets being concentrated in COMP360 and the associated IPR&D, the basis differences were attributable to the IPR&D with no alternative future use, and were immediately expensed at the time of the additional investment. As of June 30, 2022, the Company owned 22.5% of COMPASS ADS. Based on quoted market prices, the market value of the Company’s ownership in COMPASS was $103.5 million as of June 30, 2022.

Upon the completion of the COMPASS IPO and through June 30, 2022, the Company is deemed to continue to have significant influence over COMPASS primarily through its ownership interest in COMPASS’ equity and the Company's representation on COMPASS board of directors. Accordingly, the Company’s investment in COMPASS’ ADS was accounted for in accordance with the equity method through June 30, 2022.

During the three months ended June 30, 2022 and 2021, the Company recognized its proportionate share of COMPASS’ net loss of $4.7 million and $2.1 million, respectively, as losses from investments in equity method investees, net of tax on the condensed consolidated statements of operations. During the six months ended June 30, 2022 and 2021, the Company recognized its proportionate share of COMPASS' net loss of $9.5 million and $2.1 million, respectively, as losses from investments in equity method investees, net of tax on the condensed consolidated statements of operations.

Other Investments

The Company has accounted for its other investments that do not have a readily determinable fair value under the measurement alternative. As of June 30, 2022 and December 31, 2021, the carrying values of other investments, which consisted of investments in the investee’s preferred stock and common stock not in the scope of ASC 323 were as follows (in thousands):


	June 30,		December 31,
	2022		2021
GABA Therapeutics, Inc.	$	7,865	$	10,260
DemeRx NB, Inc.		1,024		1,024
Juvenescence Limited		344		344
Total	$	9,233	$	11,628

The Company’s investments in the preferred stock of Neuronasal (through May 2021), Innoplexus, GABA, and DemeRx NB 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 the common stock. Although the Company’s investment in Juvenescence Limited (“Juvenescence”) is in common stock, it is not able to exercise significant influence over the operating and financial decisions of Juvenescence. The Company concluded that its ownership interests in above Other Investments do not have a readily determinable fair value and are accounted for under the measurement alternative. Under the measurement alternative, the Company measured its other investments at cost, less any impairment, plus or minus, if any, observable price changes in orderly transactions for an identical or similar investment of the same issuer.

During the three and six months ended June 30, 2022 and 2021 there were no observable changes in price recorded related to the Company’s Other Investments.

During the three and six months ended June 30, 2022 and 2021, the Company evaluated all of its other investments to determine if certain events or changes in circumstance during these time periods in 2022 and 2021 had a significant adverse effect on the fair value of any of its investments in non-consolidated entities. Based on this analysis, the Company did not note any impairment indicators associated with the Company’s Other Investments.

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.

As of December 31, 2020, the Company owned 35.0% of the common stock issued by Innoplexus. The Company has 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 as discussed below.

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 $2.2 million as of June 30, 2022, which is included in Other liabilities in the Company’s condensed consolidated balance sheet. The Company will continue to account for its investment in Innoplexus’ common stock under the equity method of accounting and its investment in Innoplexus’ preferred shares under the measurement alternative.

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 June 30, 2022.

The carrying value of the Company’s investment in Innoplexus was zero as of June 30, 2022 and December 31, 2021.

GABA Therapeutics, Inc.

GABA is a California based biotechnology company focused on developing GRX-917 for anxiety, depression and a broad range of 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 preferred stock, and the Company’s noncontrolling representation on GABA’s board of directors.

Common Stock Investment

The Company’s investment in GABA’s common stock was accounted for in accordance with the equity method. The Company’s investment in GABA’s preferred stock did not meet the criteria for in-substance common stock. As such, the investment in GABA’s preferred stock is accounted for under the measurement alternative as discussed below.

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 June 30, 2022. Accordingly, 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 discussed below. During the three months ended June 30, 2022 and 2021, the Company recognized its proportionate share of GABA’s net loss of $1.9 million and $0.4 million as losses from investments in equity method investees, net of tax on the consolidated statements of operations. During the six months ended June 30, 2022 and 2021, the Company recognized its proportionate share of GABA’s net loss of $2.7 million and $1.1 million, respectively, as losses from investments in equity method investees, net of tax on the consolidated statements of operations.

Preferred Stock Investment

In August 2019, GABA and the Company entered into the Preferred Stock Purchase Agreement (the “GABA PSPA”), whereby GABA issued shares of its Series A preferred stock to the Company at a price of approximately $5.5 million. At closing, the Company had an overall ownership interest of over 20% in GABA and a noncontrolling representation on the board. On May 15, 2021, GABA and the Company entered into an Amendment to Preferred Stock Purchase Agreement (the Amended GABA PSPA”) under which the GABA PSPA was amended. Pursuant to the Amended PSPA, GABA issued additional shares of its Series A preferred stock to the Company at a price of approximately $0.6 million. As of June 30, 2022 and December 31, 2021, the investment in GABA’s preferred stock was recorded in Other Investments on the consolidated balance sheets under the measurement alternative under ASC 321.

Pursuant to the GABA PSPA, the Company is obligated to purchase additional shares of Series A preferred stock for up to $10.0 million with the same price per share as its initial investment, upon the achievement of specified contingent clinical development milestones. On April 13, 2021, pursuant to the GABA PSPA, the Company purchased additional shares of Series A preferred stock of GABA, for an aggregate cost of $5.0 million based on the achievement of certain development milestones. On May 21, 2021, the Company exercised its

option to purchase additional shares of Series A preferred stock prior to the achievement of certain development milestone for an aggregate cost of $5.0 million. The completion of the Series A Preferred stock purchase in May 2021 was deemed to be a reconsideration event at which point GABA was no longer deemed a VIE as GABA now had sufficient equity at risk to finance its activities through the initial development period without additional subordinated financial support. Entities that do not qualify as a VIE are assessed for consolidation under the voting interest model (“VOE model”). Under the VOE model, the Company consolidates the entity if it determines that it, directly or indirectly, has greater than 50% of the voting shares and that other equity holders do not have substantive voting, participating or liquidation rights. While the Company holds greater than 50% of the outstanding equity interest of GABA, the Company does not have the power to control the entity. Concurrent with the exercise of the option, the Company executed a side letter with the other equity holders of GABA agreeing to forego the rights to additional seats on the board of directors, resulting in the Company lacking the ability to control the investee. The Company concluded that it does not have a controlling financial interest that would require consolidation under the VOE model and accounted for the investments in GABA preferred stock under the measurement alternative per ASC 323.

As of December 31, 2021, the Company completed the purchase of the additional shares of Series A preferred stock for $10.0 million pursuant to the GABA PSPA. Pursuant to the Amended GABA PSPA, the Company is obligated to purchase additional shares of Series A preferred stock from GABA for up to $1.5 million with the same price per share as its initial investment upon the achievement of specified contingent clinical development milestones.

In accordance with the Amended GABA PSPA, the Company also has the option but not the obligation to purchase the aforementioned additional shares of Series A preferred stock at any time prior to the achievement of any milestone at the same price per share as its initial investment. In August 2019, pursuant to the Right of First Refusal and Co-Sale Agreement, the Company has the option but not the obligation to purchase additional shares of common stock for up to $2.0 million from the existing common shareholders.

In November 2020 the Company exercised its option to purchase additional shares of common stock of GABA at a price of approximately $1.8 million pursuant to an Omnibus Amendment Agreement under which the Right of First Refusal and Co-Sale Agreement was amended.

Neuronasal, Inc.

Neuronasal is developing a novel intranasal formulation of N-acetylcysteine (“NAC”) for acute mild traumatic brain injury.

Common Stock Investment

In October 2020, upon the achievement of certain development milestones, the Company made a cash contribution of $0.3 million in exchange for 9.8% of the outstanding common stock of Neuronasal. The carrying value of the investment in Neuronasal common stock was reduced to zero as of December 31, 2020 due to IPR&D charges with no alternative future use. Accordingly, Neuronasal’s net losses attributable to the Company was determined based on the Company’s ownership percentage of preferred stock in Neuronasal and recorded to the Company’s investments in Neuronasal preferred stock discussed below.

On March 10, 2021, upon the achievement of certain development milestones, the Company made another cash contribution of $0.5 million in exchange for 10.8% of the outstanding common stock of Neuronasal. The Company recorded its investment in Neuronasal common stock at the carrying cost basis of $0.5 million. At the date of the investment, a basis difference was identified as the cost basis of the Company’s investment in Neuronasal exceeded the Company’s proportionate share of the underlying net assets in Neuronasal. The Company concluded that the basis differences were primarily attributable to Neuronasal’s IPR&D associated with Neuronasal’s novel intranasal formulation of NAC. As the Company’s investments in Neuronasal did not meet the definition of a business due to substantially all of the estimated fair value of the gross assets being concentrated in NAC, the basis differences were attributable to the IPR&D with no alternative future use, and were immediately expensed on the dates of investments. The Company’s proportionate share of the basis difference exceeded its carrying value of the equity method investment in Neuronasal and as a result, the March 2021 equity investment balance of $0.5 million was reduced to zero. For the three months ended March 31, 2021, the Company recognized losses from investments in equity method investees, net of tax of $0.5 million in association with the basis difference charge in the Company’s consolidated statements of operations.

The Company was deemed to have significant influence over Neuronasal through its total ownership interest in Neuronasal’s equity through the acquisition date of May 17, 2021 (see Note 3), including the Company’s investment in Neuronasal’s preferred stock, and the Company’s noncontrolling representation on Neuronasal’s board of directors. Accordingly, the Company’s investment in Neuronasal’s common stock was accounted for in accordance with the equity method. Immediately prior to the acquisition, the Company recognized its proportionate share of Neuronasal’s year to date net loss of $1.0 million, as losses from investments in equity method investees, net of tax on the consolidated statements of operations.

The Company’s investment in Neuronasal’s preferred stock did not meet the criteria for in-substance common stock. As such, the investment in Neuronasal’s preferred stock was accounted for under the measurement alternative as discussed below.

Preferred Stock Investment

In December 2019, Neuronasal and the Company entered into the Neuronasal PSPA and the Neuronasal Secondary Sale Agreement, whereby Neuronasal issued shares of its Series A preferred stock to the Company at a price of approximately $0.5 million. At closing, the Company had a less than 20% of ownership interest in Neuronasal and a noncontrolling representation on the board. In October 2020, pursuant to the Neuronasal PSPA, the Company purchased additional Series A preferred shares at a price of approximately $0.8 million. The investment in Neuronasal preferred shares was recorded in Other Investments on the consolidated balance sheets under the measurement alternative under ASC 321 as of June 30, 2022 and December 31, 2021.

In October 2020, pursuant to the Neuronasal PSPA, the Company purchased additional Series A preferred shares at a price of approximately $0.8 million upon the achievement of a specified contingent clinical development milestone. On March 10, 2021, pursuant to the Neuronasal PSPA, the Company purchased additional Series A preferred shares for approximately $0.8 million based on the achievement of certain development milestones.

On May 17, 2021, pursuant to the Neuronasal PSPA and the Neuronasal Secondary Sale Agreement, the Company, at its sole option, purchased additional shares of Series A preferred stock of Neuronasal for an aggregate cost of $1.0 million. Upon the closing of the purchase on May 17, 2021, the Company obtained a controlling financial interest in Neuronasal. The Company derecognized its other investments in Neuronasal and began to consolidate the operations of Neuronasal into its financial statements. See Note 3, “Acquisitions” for further discussion.

DemeRx NB

In December 2019, the Company jointly formed DemeRx NB with DemeRx. DemeRx and DemeRx NB entered into a Contribution Agreement whereby DemeRx assigned all of its rights, title, and interests in and to all of its assets relating to DMX-1002, Noribogaine, in exchange for shares of common stock of DemeRx NB. DemeRx NB will use the contributed intellectual property to develop Noribogaine. Noribogaine is an active metabolite of ibogaine designed to have a longer plasma half-life and potentially reduced hallucinogenic effects compared to ibogaine.

In connection with the Contribution Agreement, the parties entered into a Series A Preferred Stock Purchase Agreement (the “DemeRx NB PSPA”) pursuant to which the Company purchased shares of Series A preferred stock of DemeRx NB at a purchase price of $1.0 million. At closing, the Company had less than 20% of ownership interest in DemeRx NB and a noncontrolling representation on DemeRx NB's board of directors. The investment in DemeRx NB was recorded in Other Investments on the condensed consolidated balance sheets under the measurement alternative under ASC 321.

Pursuant to the DemeRx NB PSPA, the Company also has the option but not the obligation to purchase additional shares of DemeRX NB's Series A preferred stock at a purchase price of up to an aggregate of $19.0 million with the same price per share as its initial investment in December 2019. As of June 30, 2022, the Company has not exercised its option to purchase any shares of Series A preferred stock of DemeRx NB.

Other Investments Held at Fair Value

IntelGenx Technologies Corp.

IntelGenx is a novel drug delivery company focused on the development and manufacturing of novel oral thin film products for the pharmaceutical market. In March 2021, IntelGenx and the Company entered into the Strategic Development Agreement and Purchaser Rights Agreement (“PPA”). On May 14, 2021, IntelGenx and the Company executed a Securities Purchase Agreement (the “IntelGenx SPA”) after obtaining IntelGenx shareholder approval, whereby IntelGenx issued shares of its common stock and warrants to the Company at a price of approximately $12.3 million. Each warrant (the “Initial Warrants”) entitles the Company to purchase one share at a price of $0.35 per share for a period of three years from the closing of the initial investment in March 2021. Pursuant to the IntelGenx SPA, the Company has the right to purchase (in cash, or in certain circumstances, the Company’s equity) additional units for a period of three years from the closing of the initial investment (the “Additional Unit Warrants”). Each Additional Unit Warrant will be comprised of (i) one share of common stock and (ii) one half of one warrant (the “Additional Warrants”). The price for the Additional Unit Warrants will be (i) until the date which is 12 months following the closing and the purchase does not result in the Company owning more than 74,600,000 common shares of IntelGenx, $0.331 (subject to certain exceptions), and (ii) until the date which is 12 months following the closing and the purchase results in the Company owning more than 74,600,000 common shares of IntelGenx or following the date which is 12 months following the closing regardless of the number of shares held by the Company, the lower of (A) a 20% premium to the volume weighted average price of the common share for the thirty trading days immediately preceding the news release of the additional closing, and (B) $0.50 if purchased in the second year following closing or $0.75, if purchased in the third year following closing. Each Additional Warrant will entitle the Company, for a period of three years from the date of issuance, to purchase one share at the lesser of either (i) a 20% premium to the price of the corresponding additional share, or (ii) the price per share under which shares of IntelGenx are issued under convertible instruments that were outstanding on February 16, 2021, provided that the Company may not exercise Additional Warrants to purchase more than the lesser of (x) 44,000,000 common shares of IntelGenx, and (y) the number of common shares issued by IntelGenx

under outstanding convertibles held by other investors as of February 16, 2021. Following the initial closing, the Company held a 25% voting interest in IntelGenx. Pursuant to the PPA, the Company is entitled to designate a number of directors to the IntelGenx’s board of directors in the same proportion as the shares of common stock held by the Company to the outstanding of IntelGenx common shares.

Pursuant to the Strategic Development Agreement, the Company engages IntelGenx to conduct research and development projects (“Development Project”) using IntelGenx’s proprietary oral thin film technology. Under the terms of the Strategic Development Agreement, the Company can 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. For the three and six months ended June 30, 2022, the Company recorded an immaterial amount of research & development expense in its condensed consolidated statement of operations in relation to the IntelGenx projects described above. No material research and development services were performed during the three and six months ended June 30, 2021.

The Company has significant influence over IntelGenx through ownership interest in IntelGenx’s equity and the Company’s noncontrolling representation on IntelGenx’s board of directors. The Company qualified for and elected to account for its investment in the IntelGenx common stock under the fair value option. The Company believes that the fair value option better reflects the underlying economics of the IntelGenx common stock investment. The Initial Warrants and Additional Units Warrant, (collectively the “Warrants”) are accounted for at fair value under ASC 321 and recorded in Other investments held at fair value on the consolidated balance sheets. The Company applied a calibrated model and determined that the initial aggregate fair value is equal to the transaction price and recorded the common shares at $3.0 million, the Initial Warrants at $1.2 million and the Additional Unit Warrants at $8.2 million on a relative fair value basis resulting in no initial gain or loss recognized in the consolidated statements of operations. The Company recognizes subsequent changes in fair value of the common shares and the Warrants as a component of other income (expense), net in the consolidated statement of operations. The carrying amount of the investment was reduced to zero as of December 31, 2021, during the three and six months ended June 30, 2022, the Company recognized a $0 mark-to-market (“MTM”) gain/loss in the consolidated statements of operations. The carrying value of the investment remained at zero as of June 30, 2022 and December 31, 2021, respectively.

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


	June 30, 2022
	Compass		GABA
Current assets	$	231,994	$	4,623
Non-current assets		6,642		—
Total assets	$	238,636	$	4,623

Current liabilities	$	13,233	$	371
Non-current liabilities		818		—
Total liabilities	$	14,051	$	371


	December 31, 2021
	Compass		GABA
Current assets	$	295,300	$	7,673
Non-current assets		5,598		—
Total assets	$	300,898	$	7,673

Current liabilities	$	15,107	$	199
Non-current liabilities		1,379		—
Total liabilities	$	16,486	$	199

Statements of operations


	Three Months Ended June 30 , 2022
	Compass			Neuronasal(1)			GABA
Revenue	$	—		$	—		$	—
Loss from continuing operations	$	(27,256	)	$	—		$	(1,964	)
Net loss	$	(21,037	)	$	—		$	(1,964	)

	Three Months Ended June 30 , 2021
	Compass			Neuronasal(1)			GABA
Revenue	$	—		$	—		$	—
Loss from continuing operations	$	(19,528	)	$	(409	)	$	(387	)
Net loss	$	(19,528	)	$	(409	)	$	(387	)


	Six Months Ended June 30, 2022
	Compass			Neuronasal(1)			GABA
Revenue	$	—		$	—		$	—
Loss from continuing operations	$	(52,676	)	$	—		$	(3,570	)
Net loss	$	(42,208	)	$	—		$	(3,570	)

	Six Months Ended June 30, 2021
	Compass			Neuronasal(1)			GABA
Revenue	$	—		$	—		$	—
Loss from continuing operations	$	(33,130	)	$	(985	)	$	(1,046	)
Net loss	$	(33,130	)	$	(985	)	$	(1,046	)

(1) Results from operations for Neuronasal are through May 17, 2021 at which point the entity is consolidated.

Notes Receivable

6 Months Ended

Jun. 30, 2022

Receivables [Abstract]

Notes Receivable

6. Notes Receivable

Long Term Notes Receivable – Related Party

Loan to IntelGenx Corp.

On March 8, 2021, the Company and IntelGenx entered into a loan agreement under which the Company provided a loan to IntelGenx for an aggregate principal amount of $2.0 million (the “March Term Loan”). Pursuant to the loan agreement, IntelGenx may, by written notice, request an advance up to an additional $0.5 million as an additional term loan if no event of default has occurred as defined in the loan agreement. On May 11, 2021, the Company paid an additional advance of $0.5 million as an additional term loan (the “May Term Loan”, and together with the March Term Loan the “Term Loans”). The Term Loans were originally due to mature 120 days following the special shareholder meeting of IntelGenx Tech Corp. to approve an additional investment in IntelGenx Tech Corp. by the Company ("Maturity Date"). On May 14, 2021, the Company amended the loan agreement under which the Maturity Date will be the first business day following the first closing of a subscription for additional units if the proceeds from such subscription amount to at least $3.0 million. The loan bears an annualized interest rate of 8% and such interest is accrued daily. The principal amount of the Term Loans plus any accrued interest shall become due and payable on the Maturity Date. On September 14, 2021, the Company entered into an amended and restated loan agreement, which among other things, increased the principal amount of loans available to IntelGenx by $6.0 million, up to a total of $8.5 million. The additional loan amount of $6.0 million are funded via two separate tranches of $3.0 million each in the beginning of 2022 and 2023 respectively, subject to certain conditions. In addition, the amendment further extended the Maturity Date to January 5, 2024. The first tranche was funded in January 2022.

Pursuant to the terms of the Term Loans, upon the occurrence of an event of default, the Company may accelerate the Term Loans and declare the principal and any accrued and unpaid interests of the Term Loans to be immediately due and payable. In addition, IntelGenx may prepay the Term Loans in whole or in part at any time without premium or penalty. Any prepayment of the principal shall be accompanied by a payment of interest accrued to date thereon. The Company concluded that these embedded features do not meet the criteria to be bifurcated and separately accounted for as derivatives.

The Company recorded the Term Loans at cost which included the principal balance of the note and accrued interest in Long term notes receivables – related parties on its consolidated balance sheets. As of June 30, 2022, the Term Loans have an outstanding balance of $5.9 million. For the three and six months ended June 30, 2022, the Company recognized interest income of $0.1 million and $0.2 million associated with the Term Loans. For the three and six months ended June 30, 2021, the Company recognized an immaterial amount of interest income associated with the Term Loans. The Company assesses the Term Loans for impairment and records an impairment loss when information becomes available that indicates it is probable that the Term Loans have been impaired and the amount of the loss can be reasonably estimated. As of June 30, 2022, no impairment indicators were present.

Investment in DemeRx Promissory Note—Related Party

On January 3, 2020, DemeRx IB loaned to DemeRx $1.0 million pursuant to the terms of a Promissory Note (the "DemeRx Note"). Pursuant to the terms of the DemeRx Note, the aggregate principal amount of $1.0 million together with all accrued and unpaid interest and any other amounts payable are due to be paid on the date that is the earlier of (i) 5 years from the initial closing and (ii) the closing of an initial public offering or a deemed liquidation event of DemeRx IB (the “DemeRx Maturity Date”). Pursuant to the terms of the DemeRx Note, DemeRx may, in its sole discretion pay any amount due under the DemeRx Note, in cash or through cancellation shares of common stock of DemeRx IB, par value $0.0001 per share, of the fair market value of such shares.

The Company recorded the DemeRx Note at cost which included the principal balance of the DemeRx Note and accrued interest, net of any payments received, on its condensed consolidated balance sheets. As of June 30, 2022, and December 31, 2021, respectively, the DemeRx Note had an outstanding balance of $1.1 million and $1.1 million, respectively. For the three and six months ended June 30, 2021, the Company recognized an immaterial amount of interest income associated with the DemeRx Note as a component of Other Income in the consolidated statements of operations. For the three and six months ended June 30, 2022, the Company did not earn any interest income associated with the DemeRx Note.

Fair Value Measurement

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurement

7. Fair Value Measurement

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
	June 30, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Cash & Money market funds	$	38,878	$	—	$	—	$	38,878
Investment in securities at fair value:
U.S. Treasuries		—		3,478		—		3,478
Commercial Paper		—		114,880		—		114,880
Corporate Notes/Bonds		—		107,045		—		107,045
U.S. Government Agencies		—		2,951		—		2,951
Other investment at fair value		—		—		—		—
	$	38,878	$	228,354	$	—	$	267,232
Liabilities:
Contingent consideration liability - related parties	$	—	$	—		2,338	$	2,338
Warrant Liability		—		—		283		283
	$	—	$	—	$	2,621	$	2,621


	Fair Value Measurements as of
	December 31, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Cash & Money market funds	$	271,856	$	—	$	—	$	271,856
Investment in securities at fair value:
U.S. Treasuries		—		—		—		—
Commercial Paper		—		—		—		—
Corporate Notes/Bonds		—		—		—		—
U.S. Government Agencies		—		—		—		—
Other investment at fair value		—		—		—		—
	$	271,856	$	—	$	—	$	271,856
Liabilities:
Contingent consideration liability - related parties	$	—	$	—	$	2,483	$	2,483
Warrant liability		—		—		336		336
	$	—	$	—	$	2,819	$	2,819

During the three and six months ended June 30, 2022 and 2021, there were no transfers between Level 1, Level 2 or Level 3.

Investment Securities Portfolio - Fair Value Option

The Company elected the fair value option for the securities in the 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 Company purchases investment grade marketable debt securities which are rated by nationally recognized statistical credit rating organizations in accordance with its investment policy. This policy is designed to minimize the Company's exposure to credit losses and to ensure that the adequate liquidity is maintained at all times to meet anticipated cash flow needs.

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.

Contingent Consideration Liability—Related Parties—Perception, InnarisBio, and TryptageniX

The contingent consideration liability—related parties in the table above relates to milestone and royalty payments in connection with the acquisition of Perception Neuroscience Holdings, Inc. (“Perception”), InnarisBio and TryptageniX. The fair value of the contingent consideration liability—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

The fair value of the contingent milestone and royalty liabilities for InnarisBio was estimated to be $0.1 million and $0.1 million as of June 30, 2022 and December 31, 2021, respectively.

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 June 30, 2022 and December 31, 2021, 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 $1.4 million and $1.5 million as of June 30, 2022 and December 31, 2021, respectively.

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


		June 30, 2022	December 31, 2021

Valuation Technique	Significant Unobservable Inputs	Input Range	Input Range
Discounted cash flow	Milestone contingent consideration:
	Discount rate	15.4%	11.4%
	Probability of the milestone	51.9%	51.9%
Discounted cash flow with SBM	Royalty contingent consideration:
	Discount rate for royalties	22.5% - 24.0%	19.2% - 20.1%
	Discount rate for royalties on milestones	14.2% - 15.6%	10.9% - 11.8%
	Probability of success rate	26.5% - 51.9%	26.5% to 100.0%

The fair value of the contingent liability for TryptageniX was estimated to be $0.8 million and $0.9 million as of June 30, 2022, and December 31, 2021, respectively. 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.

Warrant Liability

The warrant liability in the table above relates to issued and outstanding warrants to purchase shares of Neuronasal’s common stock acquired in connection with the acquisition of Neuronasal. The warrants were classified within other liabilities in the accompanying condensed consolidated balance sheet as the underlying common stock was determined to be contingently, but not currently, redeemable. The warrant liability was recorded at fair value utilizing the Black-Scholes option pricing model. As summarized below, certain key inputs in connection with the Black-Scholes option pricing model represent Level 3 measurements within the fair value hierarchy. 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 warrant, risk-free interest rates, expected dividends, and expected volatility of the price of the underlying common stock. The Company adjusted the carrying value of the warrant to its estimated fair value at each reporting date, with any related increase or decrease in the fair value recorded as a component of other income (expense), net in the condensed consolidated statement of operations.

The fair value of the warrant liability was estimated to be $0.3 million and $0.3 million as of June 30, 2022 and December 31, 2021, respectively.

The following table summarizes significant unobservable inputs that are included in the valuation of the warrant lability as of June 30, 2022:


	June 30, 2022
Stock Price	$	40.41
Expected Volatility		105	%

The following table summarizes significant unobservable inputs that are included in the valuation of the warrant lability as of December 31, 2021:


	December 31, 2021
Stock Price	$	50.56
Expected Volatility		100	%

IntelGenx Common Stock, Initial Warrants and Additional Units Warrant

The Company’s investment in IntelGenx consists of Common Shares, Initial Warrants and Additional Units Warrant (collectively the “Warrants”). The Company determined that the Warrants do not meet the definition of a derivative instrument under ASC 815. The Company has classified the Common Shares as Level 2 assets and the Warrants as Level 3 assets in the fair value hierarchy. The Company determined that the initial aggregate fair value was equal to the transaction price and recorded the Common Shares at $3.0 million, the Initial Warrants at $1.2 million and the Additional Units Warrant at $8.2 million on a relative fair value basis resulting in no initial gain or loss recognized in the consolidated statements of operations. The Warrants are measured at fair value on a quarterly basis and any changes in the fair value will be recorded as a component of other income (expense), net in the condensed consolidated statement of operations.

The fair value of Common Shares is estimated by applying a discount for lack of marketability (“DLOM”) of 5.0% as of December 31, 2021 and June 30, 2022. The Company estimated a DLOM in connection with the valuation of the Common Shares at initial recognition and as of June 30, 2022 to reflect the restrictions associated with the Common Shares. As of June 30, 2022 the only restriction that remains is the unregistered nature of the Common Shares. The fair value of Common Shares, which is included in Other investments held at fair value in the consolidated balance sheet, was zero as of June 30, 2022 and December 31, 2021, respectively.

The Initial Warrant asset was recorded at fair value utilizing the Black-Scholes option pricing model. 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 warrant, risk-free interest rates, expected dividends, and expected volatility of the price of the underlying common stock. The expected volatility is based on a peer group volatility which is a Level 3 input within the fair value hierarchy. The fair value of the Initial Warrants, which is included in Other investments held at fair value in the condensed consolidated balance sheet, was zero as of June 30, 2022 and December 31, 2021, respectively.

The following table summarizes significant unobservable inputs that are included in the valuation of the Initial Warrants as of June 30, 2022:


	June 30, 2022
Value of Underlying	$	0.16
Expected Volatility		115	%

The following table summarizes significant unobservable inputs that are included in the valuation of the Initial Warrants as of December 31, 2021:


	December 31, 2021
Value of Underlying	$	0.34
Expected Volatility		105	%

The fair value of the Additional Units is estimated using a Binomial Lattice in a risk-neutral framework (a special case of the Income Approach). Specifically, the future stock price of the IntelGenx is modeled assuming a Geometric Brownian Motion in a risk-neutral framework. For each modeled future price, the Additional Unit is calculated based on the contractual terms (incorporating any optimal early exercise), and then discounted at the term-matched risk-free rate. Finally, the value of the Additional Units is calculated as the probability-weighted present value over all future modeled payoffs. The fair value of the Additional Units, which is included in Other investments held at fair value in the condensed consolidated balance sheet, was zero as of June 30, 2022 and December 31, 2021, respectively.

The following table summarizes significant unobservable inputs that are included in the valuation of the Additional Units Warrant as of June 30, 2022:


	June 30, 2022
Value of Underlying	$	0.16
Expected Volatility		115	%

The following table summarizes significant unobservable inputs that are included in the valuation of the Additional Units Warrant as of December 31, 2021:


	December 31, 2021
Value of Underlying		0.34
Expected Volatility		105	%

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):


	Contingent Consideration Liability - Related Parties			Warrant Liability
Balance as of December 31, 2021	$	2,483		$	336
Initial fair value of instrument		—			—
Change in fair value		—			—
Extinguishment of liability		(50	)		—
Balance as of March 31, 2022	$	2,433		$	336
Initial fair value of instrument		—			—
Change in fair value		(95	)		(53	)
Extinguishment of liability					—
Balance as of June 30, 2022	$	2,338		$	283


	Other Investments Held at Fair Value			Contingent Consideration Liability - Related Parties			Derivative Liability			Warrant Liability
Balance as of December 31, 2020	$	—		$	1,705		$	214		$	—
Initial fair value of instrument		—			101			304			—
Change in fair value		—			(251	)		(41	)		—
Balance as of March 31, 2021	$	—		$	1,555		$	477		$	—
Initial fair value of instrument		9,358			—			343			249
Change in fair value		(4,720	)		911			—			40
Extinguishment of liability		—			—			(820	)		—
Balance as of June 30, 2021	$	4,638		$	2,466		$	—		$	289

- 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 + Details

Prepaid Expenses and Other Current Assets

6 Months Ended

Jun. 30, 2022

Prepaid Expense and Other Assets, Current [Abstract]

Prepaid expenses and other current assets

8. Prepaid Expenses and Other Current Assets

Prepaid expenses consist of the following (in thousands):


	June 30, 2022		December 31, 2021
Prepaid research and development related expenses	$	3,828	$	2,692
Research and development tax credit		226		742
Sales tax receivables		5,674		4,664
Prepaid insurance		72		3,049
Other		1,322		756
Total	$	11,122	$	11,903

Accrued Liabilities

6 Months Ended

Jun. 30, 2022

Accrued Liabilities, Current [Abstract]

Accrued Liabilities

9. Accrued Liabilities

Accrued liabilities consist of the following (in thousands):


	June 30, 2022		December 31, 2021
Accrued accounting, legal, and other professional fees	$	3,869	$	2,667
Taxes payable		6,880		8,137
Accrued external research and development expenses		4,322		861
Accrued payroll		2,614		2,832
Accrued advisory fees		115		169
Other liabilities		1,113		163
Total	$	18,913	$	14,829

Convertible Promissory Notes

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Convertible Promissory Notes

10. Convertible Promissory Notes

2018 Convertible Promissory Notes—Related Parties

Convertible promissory notes—related parties, net of discounts and deferred issuance costs, consisted of the following (in thousands):


	June 30, 2022		December 31, 2021
Convertible notes issued in November 2018	$	48	$	125
Convertible notes issued in October 2020		571		623
Unamortized discount and deferred issuance costs		—		(5	)
Total	$	619	$	743

During November 2018, the Company executed a terms and conditions agreement (the “Convertible Note Agreement”) under which it was authorized to issue up to €1.0 million or $1.2 million in 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, certain investors subscribed to the Convertible Note Agreement and the Company issued convertible promissory notes in the aggregate principal amount of €0.2 million or $0.2 million.

In October 2020, certain investors subscribed to the Convertible Note Agreement and the Company issued the remainder of the 2018 Convertible Notes in the aggregate principal amount of €0.8 million or $1.0 million (collectively, the “2018 Convertible Notes”). The total aggregate principal amount of the 2018 Convertible Notes is $1.2 million as of December 31, 2020. The 2018 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 2018 Convertible Note has a notional 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 2018 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 2018 Convertible Notes may no longer be exercised.

In connection with the Convertible Note Agreement, the Company issued convertible notes in the principal amounts of €0.1 million or $0.1 million to the founders of Perception, who are also related parties of the Company in November 2018 (See Note 17). Perception is a biotech firm acquired by the Company on November 5, 2018. Upon the purchase of certain assets of Perception in November 2018, Perception was deemed to have been a VIE, of which the Company is the primary beneficiary (See Note 4).

In addition, in connection with the Convertible Note Agreement, the Company issued convertible notes in the principal amounts of €0.5 million or $0.6 million to Apeiron, the family office of the Company’s co-founder, and €0.3 million or $0.4 million to one other shareholder of the Company and the founder of COMPASS in October 2020.

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 2018 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 October 2020 Notes are recorded as a liability and the premium was recorded as paid-in capital.

Conversion of 2018 Convertible Promissory Notes - Related Parties

As described in Note 1, 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 2021, several noteholders elected to convert their convertible promissory notes into shares of ATAI Life Sciences N.V. These investors paid €17.00 per share for an aggregate amount of €5.8 million or $6.9 million in order to convert their convertible promissory notes into ATAI Life Sciences AG common shares, which was in accordance with the original terms of the 2018 Convertible Note Agreements.

In May 2022, an additional noteholder elected to convert some of their convertible promissory notes into shares of ATAI Life Sciences N.V. The investor paid €17.00 per share for the aggregate amount of €1.0 million or $1.1 million in order to convert its convertible promissory notes into ATAI Life Sciences AG common shares, which was in accordance with the original terms of the 2018 Convertible Note Agreements.

The Company accounted for the conversion of the 2018 Convertible Notes as a conversion such that carrying values of these notes were derecognized with an offset to common stock at par of ATAI Life Sciences AG and the excess of the carrying values of these notes over the common stock at par of ATAI Life Sciences AG was recorded as additional paid-in capital. Concurrently, with the conversion of the 2018 Convertible Notes into ATAI Life Sciences AG shares, the shares of ATAI Life Sciences AG that were issued to the noteholders were exchanged for shares of ATAI Life Sciences N.V. through a transfer and sale arrangement. As ATAI Life Sciences AG continued to remain a wholly owned subsidiary of ATAI Life Sciences N.V., the transaction was accounted for as an equity transaction that resulted in no gain or loss recognition.

Perception Convertible Promissory Notes

On March 16, 2020, Perception entered into a convertible promissory note agreement with the Company and other investors, including related parties, which provided for the issuance of convertible notes of $3.9 million (the “Perception Note Purchase Agreement”).

The notes bear interest at an annual rate of 5% and are due and payable on June 30, 2022, unless earlier converted (the “Perception March 2020 Notes”).

On December 1, 2020, Perception entered into an additional convertible promissory note agreement (the “Perception December 2020 Convertible Note Agreement”) with the Company and other investors, including related parties, which provided for the issuance of convertible notes of up to $12.0 million. Pursuant to the Perception December 2020 Convertible Note Agreement, the convertible notes are issued in two tranches: (i) up to $7.0 million under the first tranche funding (the “First Tranche Funding”), with $6.2 million and $0.8 million issued in December 2020 and January 2021, respectively, and (ii) up to an additional $5.0 million under the second tranche funding (the “Second Tranche Funding”), was issued in May 2021.

Under the Second Tranche Funding, Perception issued $4.2 million to the Company, $0.2 million to Apeiron, and $0.3 million to Sonia Weiss Pick and Family, and $0.4 million to other investors.

The notes bear interest at an annual rate of 5% and are due and payable on February 28, 2022, unless earlier converted (the “Perception December 2020 Notes” and together with the Perception March 2020 Notes, the “Perception Convertible Notes”).

In the event of a qualified sale of preferred stock resulting in gross proceeds to Perception of at least $5.0 million, all the principal and accrued and unpaid interest under the Perception Convertible Notes will automatically convert, into the same equity securities issued by Perception at a 25% discount from the lowest price of the security issued. In the event that Perception receives upfront proceeds of $5.0 million or more in a licensing transaction, all the principal and accrued and unpaid interest under the Perception convertible notes will automatically convert, into shares of Series A Preferred Stock of Perception at a price per share of $0.75 for the Perception March 2020 Notes and 75% of the fair market value of the Series A Preferred Stock of Perception for the Perception December 2020 Notes. Upon a change in control of Perception, all the principal and accrued and unpaid interest under the Perception Convertible Notes will automatically convert into shares of Series A Preferred Stock of Perception at a price per share of $0.75. The Perception Convertible Notes issued to the Company represent intercompany debt and are eliminated upon consolidation.

The Perception March 2020 Notes contained an embedded conversion features in the event of a qualified financing whereas the Perception December 2020 Notes contained both embedded conversion features in the event of a qualified financing and upon the occurrence of a licensing transaction. The Company concluded that both the embedded conversion features met the definition of embedded derivatives that were required to be bifurcated and accounted for as a separate unit of accounting.

As of December 31, 2020, the Company recorded the fair value of the derivative liabilities of $0.4 million as a liability with the offset being recorded as a debt discount on the issuance dates of the Perception Convertible Notes.

Both the liability and the offsetting debt discount are presented together in convertible promissory notes and derivative liability on the consolidated balance sheets. The resulting debt discount is being amortized to interest expense using the effective interest method over the terms of the Perception Convertible Notes. This interest expense is recorded in other income (expense), net in the consolidated statements of operations. The derivative liabilities are subsequently remeasured to fair value at each reporting date with changes in fair value recognized as a component of other income (expense), net in the consolidated statements of operations.

Upon issuance of the notes under the Second Tranche Funding, the Company recorded the fair value of the derivative liabilities of $0.3 million as a liability with an offset being recorded as a debt discount.

On June 10, 2021, Perception received proceeds of $20.0 million pursuant to the license and collaboration arrangement between Perception and Otsuka Pharmaceutical Co., LTD (“Otsuka”) (See Note 16). Upon receipt of the proceeds, the Perception Convertible Notes automatically converted into 6,456,595 shares of Series A preferred stock of Perception pursuant to their original terms. The Company, Sonia Weiss Pick and Family, Apeiron, and other investors received 5,403,791 shares, 440,415 shares, 27,809 shares and 584,580 shares of Perception Series A preferred stock, respectively, upon conversion of the Perception Convertible Notes. The amounts associated with the shares of Perception Series A preferred stock issued to the Company represent intercompany transactions and are eliminated upon consolidation.

Upon receipt of the proceeds described above, the Company remeasured the derivative liability immediately prior to the conversion of the Perception Notes and recorded a net gain of $41,000 resulting from the change in fair value of the derivative liability in June 2021. The conversion of the Perception December 2020 Notes was accounted for as an extinguishment as the notes were converted pursuant to an embedded conversion feature upon a licensing transaction, which was determined to be a redemption feature. Accordingly, the Company recorded a loss on extinguishment of notes of $0.5 million in the consolidated statements of operations in June 2021. The loss on extinguishment of notes represents the difference between (i) carrying value including derivative liability of the Perception December 2020 Notes of $2.2 million and (ii) the fair value of Perception Series A preferred stock into which the notes converted of $2.7 million.

The conversion of the Perception March 2020 Notes was accounted for as a conversion as the notes converted pursuant to a conversion feature. Accordingly, the Company derecognized the carrying amount of the Perception March 2020 notes issued to Sonia Weiss and Family and other investors in the aggregate amount of $0.6 million with an offset to Series A preferred stock, and no gain or loss was

recognized. The shares issued upon conversion of the Perception March 2020 and December 2020 Notes issued to the Company represent an intercompany transaction and, therefore, eliminate in consolidation.

The Company recognized interest expense of $0.1 million, including amortization of debt discount of $93,000 during the three months ended June 30, 2021. The Company recognized interest expense of $0.2 million, including amortization of debt discount of $0.2 million during the six months ended June 30, 2021. As of June 30, 2021, there was no unamortized debt discount due to the conversion of the Perception Convertible Notes into Series A convertible preferred stock of Perception on June 10, 2021. The debt issuance costs associated with the Perception Convertible Notes were not material.

- 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

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+ Details

Common Stock

6 Months Ended

Jun. 30, 2022

Stockholders' Equity Note [Abstract]

Common Stock

11. Common Stock

In January 2021, pursuant to an additional closing from the common stock issuance in November and December 2020, the Company issued and sold 2,133,328 shares of common stock to Apeiron, for cash proceeds of $12.2 million. In March 2021, the Company issued and sold 13,419,360 shares of common stock to new and existing investors, including related parties, at a price of €9.69 or $11.71 per share, for cash proceeds of $152.2 million, net of issuance costs of $4.9 million.

On June 22, 2021, atai closed the IPO of its common stock on Nasdaq. As part of the IPO, the Company issued and sold 17,250,000 shares of its common stock, which included 2,250,000 shares sold pursuant to the exercise of the underwriters’ over-allotment option, at a public offering price of $15.00 per share. The Company received net proceeds of $231.6 million from the IPO, after deducting underwriters’ discounts and commissions of $18.1 million and offering costs of $9.0 million.

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

All holders of common stock are entitled to receive dividends, as may be declared by the Company’s supervisory board. Upon liquidation, common stockholders will receive distribution on a pro rata basis. As of June 30, 2022 and December 31, 2021, no cash dividends have been declared or paid.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 18
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-Topic 505
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stock-Based Compensation

6 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

12. Stock-Based Compensation

Atai Life Sciences 2020 Equity Incentive Plan

Effective August 21, 2020, the Company adopted an equity-based compensation plan, the 2020 Employee, Director and Consultant Equity Incentive Plan (as amended from time to time, “2020 Incentive Plan”). The 2020 Incentive Plan is administered by the Company’s supervisory board. The plan is intended to encourage ownership of shares by employees, directors and certain consultants to the Company in order to attract and retain such individuals, to induce them to work for the benefit of the Company and to provide additional incentive for them to promote the success of the Company. The 2020 Incentive Plan enables the Company to grant incentive stock options or nonqualified stock options, restricted stock awards and other stock-based awards to executive officers, directors and employees and consultants of the Company.

The Company has reserved up to 22,658,192 shares of common stock, excluding any shares issued under its Hurdle Share Option Program ("HSOP") described below, for issuance to executive officers, directors, other employees and consultants of the Company pursuant to the 2020 Incentive Plan. Shares that are expired, terminated, surrendered, or canceled without having been fully exercised will be available for future awards. As of June 30, 2022, 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 discussed below.

Atai Life Sciences 2021 Incentive Award Plan

Effective April 23, 2021, the Company adopted and the atai shareholders approved the 2021 Incentive Award Plan (“2021 Incentive Plan”). The 2021 Incentive Plan is administered by the Company’s supervisory board. The plan is intended to encourage ownership of shares by employees, directors, and certain consultants to the Company in order to attract and retain such individuals, to induce them to work for the benefit of the Company or of an affiliate and to provide additional incentive for them to promote the success of the Company. The 2021 Incentive Plan enables the Company to grant incentive stock options or nonqualified stock options, restricted stock awards and other stock-based awards to executive officers, directors and other employees and consultants of the Company.

The Company has reserved up to 46,738,794 shares of common stock, for issuance to executive officers, directors and employees and consultants of the Company pursuant to the 2021 Incentive Plan. In accordance with the evergreen clause in the Company's 2021 Incentive Plan, effective as of January 1, 2022, the number of shares initially available for issuance was increased by 8,033,850 shares of common stock. Shares that are expired, terminated, surrendered, or canceled without having been fully exercised will be available for future awards. As of June 30, 2022, 34,131,065 shares were available for future grants under the 2021 Incentive Plan.

Stock Options

The stock options outstanding noted below consist primarily of both service and performance-based options to purchase Common Stock. These stock options have a five-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, 2021 to June 30, 2022:


	Number of Options				Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding as of December 31, 2021		26,687,620			$	6.85		4.85	$	74,525
Granted		9,670,493		(1)		5.49		—		—
Exercised		(90,784	)			2.77		—		—
Cancelled or forfeited		(1,856,558	)			10.50		—		—
Outstanding as of June 30, 2022		34,410,771		(2)	$	6.28		5.80	$	20,402
Options exercisable as of June 30, 2022		13,375,570			$	4.03		3.46	$	18,236

(1)

Includes (a) 7,930,027 stock options that will vest over a four-year service period, (b) 754,910 stock options that will vest immediately upon the satisfaction of specified performance-based vesting conditions, which were not considered probable of achievement as of June 30, 2022, (c) 601,556 stock options that partially vest on date of grant, then over a three-year service period and upon the satisfaction of specified performance-based vesting conditions, which were not considered probable of achievement as of June 30, 2022, and (d) 384,000 stock options that will vest on the one-year anniversary of the date of grant.

(2)

The 21,035,201 outstanding unvested stock options balance includes (a) 16,203,479 that will continue to vest over a one to four-year service period, (b) 2,908,034 that will continue to vest over a three to four-year service period and upon the satisfaction of specified performance-based vesting conditions, (c) 200,000 stock options that will continue to vest over a two-year service period and upon the satisfaction of specified market-based conditions tied to price of the Company's publicly traded shares, (d) 754,910 stock options that will vest immediately upon the satisfaction of specified performance-based vesting conditions, which were not considered probable of achievement as of June 30, 2022, (e) 584,778 stock options that will continue to vest over a three-year service period and upon the satisfaction of specified performance-based vesting conditions, which were not considered probable of achievement as of June 30, 2022, and (f) 384,000 stock options that will vest on the one-year anniversary of the date of grant.

The weighted-average grant-date fair value of options granted during the six months ended June 30, 2022 was $3.48.

The Company estimated the fair value of each stock option using the Black-Scholes option-pricing model on the date of grant. During the six months ended June 30, 2022, the assumptions used in the Black-Scholes option pricing model were as follows:


	June 30,
	2022		2021
Weighted average expected term in years		5.93		3.64
Weighted average expected stock price volatility	70.5%		81.2%
Risk-free interest rate	1.46% - 3.03%		(0.76%) - 1.27%
Expected dividend yield	0%		0%

For the three months ended June 30, 2022 and 2021, the Company recorded stock-based compensation expense of $8.1 million and $20.6 million, respectively. For the six months ended June 30, 2022 and 2021, the Company recorded stock-based compensation expense of $16.7 million and $20.6 million, respectively.

As of June 30, 2022, total unrecognized compensation cost related to the unvested stock-based awards was $87.5 million, which is expected to be recognized over a weighted average period of 2.11 years.

Atai Life Sciences Hurdle Share Option Plan

On August 21, 2020, the Partnership (as defined below) approved and implemented an employee stock option plan for selected executives, employees, and consultants of the Partnership (the so-called Hurdle Share Options Program or “HSOP Plan”), which became effective on January 2, 2021, the date the first grants under the HSOP Plan were made (the “HSOP Options”). This plan is primarily aimed at German-based executives, employees, and consultants of the Company (collectively, the “HSOP Participants”). The purpose of the HSOP Plan is to permit these individuals to indirectly participate in the appreciation in value of the Company through a German law private partnership,

ATAI Life Sciences HSOP GbR (the “Partnership”). The HSOP Plan was established under the Partnership Agreement of the Partnership. The HSOP Plan requires the exercise price to be equal to the fair value of the shares on the date of grant.

The Partnership acquired 7,281,376 shares of atai common stock (“HSOP Shares”) pursuant to the HSOP Plan. HSOP Options that are canceled or forfeited without having been fully exercised will be available for future awards. As of June 30, 2022, 132,752 HSOP Options were available for future grants under the HSOP Plan.

The HSOP Plan mimics the economics of a typical stock option plan, however, with the HSOP Shares to which the HSOP Options refer already being issued to the Partnership. Each HSOP Option contains both service and performance-based vesting conditions, including a liquidity-based condition, and gives the holder the option to request the distribution of HSOP Shares under its vested HSOP Options. The nominal amount paid at the grant date is refundable if the HSOP Options do not vest or are forfeited. Otherwise, the nominal amount is refundable until the later of the occurrence of a Liquidity Event (as defined in the “HSOP Plan”) or the exercise date.

The HSOP Shares issued under the HSOP Plan to the Partnership are indirectly owned by HSOP Participants (being the holders of HSOP Options) via their interest in the Partnership. The grantee is required to pay a nominal value (€0.06 per share) for the shares upon grant (“Nominal Upfront Payment”). Accordingly, the HSOP Shares issued to the Partnership and allocated to the HSOP Options holders are not considered outstanding for accounting purposes. Therefore, the Company accounted for the Nominal Upfront Payment as an in-substance early exercise provision under ASC 718 as the nominal amount is deducted from the exercise price upon exercise. As of June 30, 2022, the remaining $0.5 million Nominal Upfront Payment was recorded as an Other liability on the consolidated balance sheets.

HSOP Options

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 vest over a three to four-year service period, only if and when a “Liquidity Event” (as defined in the Partnership agreement) occurs within fifteen years of the date of grant. If a Change in Control (as defined in the Partnership agreement) or in the event the holder’s service with the Partnership is terminated due to his death or disability by June 30, 2021 or December 31, 2021, an additional 25% or 12.5%, respectively, HSOP Options will accelerate and vest upon the occurrence of the transaction. These awards are subject to the risk of forfeiture until vested by virtue of continued employment or service to the Company.

The liquidity-based performance condition contingent upon the achievement of a Liquidity Event was satisfied in June of 2021, therefore, the Company began recognizing expense for all associated options that were previously deemed improbable of vesting.

The following is a summary of stock option activity for from December 31, 2021 to June 30, 2022:


	Number of Options		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding as of December 31, 2021		7,046,496		6.64		14.01	$	6,961
Granted		—		—		—		—
Exercised		—		—		—		—
Cancelled or forfeited		—		—		—		—
Outstanding as of June 30, 2022		7,046,496	$	6.64		13.51	$	—
Options exercisable as of June 30, 2022		5,537,474	$	6.64		13.51

For the three months ended June 30, 2022 and 2021, the Company recorded stock-based compensation expense of $1.2 million and $16.7 million, respectively. For the six months ended June 30, 2022 and 2021, the Company recorded stock-based compensation expense of $2.5 million and $16.7 million, respectively.

As of June 30, 2022, total unrecognized compensation cost related to the unvested stock-based awards was $5.6 million which is expected to be recognized over a weighted average period of 0.8 years.

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. Certain awards issued to employees partially vest on date of grant,

then over a three-year service period and upon the satisfaction of specified performance-based vesting conditions, which are not considered probable of achievement as of June 30, 2022.

For the three months ended June 30, 2022 and 2021, the Company recorded share-based compensation expense of $0.2 million and $0.2 million, respectively, in relation to subsidiary EIPs. For the six months ended June 30, 2022 and 2021, the Company recorded share-based compensation expense of $0.4 million and $0.4 million, respectively, in relation to subsidiary EIPs. As of June 30, 2022, there was $8.2 million 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 3.0 years.

Stock-Based Compensation

Stock-based compensation expense is allocated to either Research and development or general and administrative expense on the 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 June 30, 2022, which includes expense related to stock options and restricted stock awards (in thousands):


	Three Months Ended June 30, 2022
	Atai ESOP		Atai HSOP		Other Subsidiaries Equity Plan		Total
Research and development	$	3,717	$	—	$	149	$	3,866
General and administrative		4,395		1,176		74	$	5,645
Total share based compensation expense	$	8,112	$	1,176	$	223	$	9,511

The following table summarizes the total stock-based compensation expense by function for the three months ended June 30, 2021, which includes expense related to stock options and restricted stock awards (in thousands):


	Three Months Ended June 30, 2021
	Atai ESOP		Atai HSOP		Other Subsidiaries Equity Plan		Total
Research and development	$	8,698	$	—	$	161	$	8,859
General and administrative		11,940		16,650		63	$	28,653
Total share based compensation expense	$	20,638	$	16,650	$	224	$	37,512

The following table summarizes the total stock-based compensation expense by function for the six months ended June 30, 2022, which includes expense related to stock options and restricted stock awards (in thousands):


	Six Months Ended June 30, 2022
	Atai ESOP		Atai HSOP		Other Subsidiaries Equity Plan		Total
Research and development	$	7,344	$	—	$	296	$	7,640
General and administrative		9,402		2,526		152	$	12,080
Total share based compensation expense	$	16,746	$	2,526	$	448	$	19,720

The following table summarizes the total stock-based compensation expense by function for the six months ended June 30, 2021, which includes expense related to stock options and restricted stock awards (in thousands):


	Six Months Ended June 30, 2021
	Atai ESOP		Atai HSOP		Other Subsidiaries Equity Plan		Total
Research and development	$	8,698	$	—	$	310	$	9,008
General and administrative		11,940		16,650		125	$	28,715
Total share based compensation expense	$	20,638	$	16,650	$	435	$	37,723

Income Taxes

6 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

13. 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 effect for discrete items are recorded in the period in which they occur. The Company recorded $51,000 and $58,000 income tax expense for the three months ended June 30, 2022 and 2021 respectively. The Company recorded $92,000 and $64,000 income tax expense for the six months ended June 30, 2022 and 2021, respectively. The income tax expense during these periods was primarily driven by current tax on earnings of subsidiaries in Australia, the United States, and the United Kingdom. The primary difference between the effective tax rate and the statutory tax rate is a result of certain income tax deductions available in the United States that are permanent in nature. The Company continues to maintain a full

valuation allowance against its deferred tax assets with the exception of certain deferred tax assets relating to certain subsidiaries in Australia, the United States and the United Kingdom.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (b)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section S99
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-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
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-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Net Loss Per Share

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Net Loss Per Share

14. Net Income (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):


	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Numerator:
Net loss	$	(37,509	)	$	(53,373	)	$	(75,067	)	$	(49,329	)
Net loss attributable to redeemable noncontrolling interests and noncontrolling interests		(891	)		(4,912	)		(1,580	)		(1,556	)
Net loss attributable to ATAI Life Sciences N.V. shareholders - basic and diluted	$	(36,618	)	$	(48,461	)	$	(73,487	)	$	(47,773	)
Denominator:
Weighted average common shares outstanding attributable to ATAI Life Sciences N.V. Stockholders - basic and diluted		153,971,202			132,265,075			153,751,456			125,797,732
Net loss per share attributable to ATAI Life Sciences N.V. shareholders - basic and diluted	$	(0.24	)	$	(0.37	)	$	(0.48	)	$	(0.38	)

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 income (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 June 30,
	2022		2021
Options to purchase common stock		34,410,771		23,797,993
HSOP options to purchase common stock		7,046,496		7,281,376
2018 Convertible Promissory Notes - Related Parties (Note 10)		9,561,824		16,000,000
		51,019,091		47,079,369

The remaining 2018 Convertible Notes would be issuable upon the exercise of conversion rights of convertible note holders for 597,614 shares of common stock of ATAI Life Sciences AG, respectively. Upon conversion, it is expected that the remaining 2018 Convertible Notes would be exchanged on a one-for-sixteen basis for shares of ATAI Life Sciences N.V. which is reflected in the table above. See Note 10 for additional discussion.

Commitments and Contingencies

6 Months Ended

Jun. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

15. Commitments and Contingencies

Research and Development Agreements

The Company may enter into contracts in the ordinary 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.

Leases

As of June 30, 2022, the Company has entered into a five year lease arrangement that has not yet commenced. The Company expects the lease to commence by the end of 2022. This lease will require lease payments over the term of approximately $1.8 million.

Indemnification

In the ordinary course of business, the Company may provide indemnifications of varying scope and terms to vendors, lessors, business partners, 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 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 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. The Company currently believes that the outcome of these legal proceedings, either individually or in the aggregate, will not have a material effect on its consolidated financial position, results of operations or cash flows.

License Agreements

6 Months Ended

Jun. 30, 2022

License Agreements [Abstract]

License Agreements

16. License Agreements

Otsuka License and Collaboration Agreement

On March 11, 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. Under the terms of the Otsuka Agreement, Otsuka received an exclusive right to develop and commercialize products containing PCN-101 in Japan at its own cost and expense. Perception retained all rights to PCN-101 outside of Japan.

Otsuka owed Perception an upfront, non-refundable payment of $20.0 million as of the execution of the Otsuka Agreement. 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.

The Otsuka Agreement will expire upon the fulfillment of Otsuka’s royalty obligations on a product-by-product basis. Otsuka shall have the right to terminate this agreement in its entirety for convenience at any time (a) on ninety (90) days’ prior written notice to Perception if such notice is given before the first regulatory approval of the first licensed product in the Otsuka territory, or (b) on one hundred and eighty (180) days’ prior written notice to Perception if such notice is given on or after the first regulatory approval of the first licensed product in the Otsuka territory. The Otsuka Agreement may be terminated in its entirety at any time during the term upon written notice by either party if the other party is in material breach of its obligations and has not cured such breach within thirty (30) days in the case of a payment breach, or within ninety (90) days in the case of all other breaches.

The Company first assessed the Otsuka Agreement under ASC 808 to determine whether the Otsuka Agreement or units of accounts within the Otsuka Agreement represent a collaborative arrangement based on the risks and rewards and activities of the parties.

The Company concluded that Otsuka is a customer in the context of the Otsuka Agreement and the units of account are within the scope of ASC 606. The Company determined that the combined promise of the exclusive license to PCN-101 and non-exclusive license to conduct clinical trials in Asia are a single performance obligation. The Company determined that the option rights for CMC study data, additional research services and development supply do not represent material rights to Otsuka as these options were issued at standalone selling prices. As such, they are not performance obligations at the outset of the arrangement.

Based on this assessment, the Company concluded three performance obligations existed at the outset of the Otsuka Agreement: (i) the exclusive license to PCN-101 and exclusive license to conduct clinical trials in Japan, (ii) Global Requested Ongoing Clinical Studies (as

defined in the Otsuka Agreement) and (iii) Global Ongoing Clinical Studies (as defined in the Otsuka Agreement). The Company determined that the upfront payment of $20.0 million constitutes the transaction price at the outset of the Otsuka Agreement. Future potential milestone payments were fully constrained as the risk of significant revenue reversal related to these amounts has not yet been resolved. The achievement of the future potential milestones is not within the Company’s control and is subject to certain research and development success or regulatory approvals and therefore carry significant uncertainty. The Company will reevaluate the likelihood of achieving future milestones at the end of each reporting period. As all performance obligations will have been satisfied in advance of the achievement of the milestone events, if the risk of significant revenue reversal is resolved, any future milestone revenue from the arrangement will be added to the transaction price (and thereby recognized as revenue) in the period the risk is resolved.

For the three and six months ended June 30, 2022, no additional milestones were achieved under the Otsuka Agreement and the Company did not recognize any revenue associated with the Otsuka Agreement based on performance completed during the period. The remaining deferred revenue balance related to the Otsuka Agreement is not material as of June 30, 2022. Perception satisfied the performance obligation related to the license upon delivery of the license and recognized the amount of $19.7 million allocated to the license as license revenue during the six months ended June 30, 2021. Additionally, the Company recognized license revenues of $0.2 million related to certain research and development services during the three and six months ended June 30, 2022. The Company did not recognize material license revenue during the three and six months ended June 30, 2021.

National University Corporation Chiba University License Agreement

In August 2017, Perception entered into a license agreement (the “CHIBA License”), with the National University Corporation Chiba University (“CHIBA”), relating to Perception’s drug discovery and development initiatives. Under the CHIBA License, Perception has been granted a worldwide exclusive license under certain patents and know-how of CHIBA to research, develop, manufacture, use and commercialize therapeutic products.

During the three and six months ended June 30, 2022 and 2021, respectively, the Company made no material payments pursuant to the CHIBA License.

Allergan License Agreement

In February 2020, Recognify entered into an amended and restated license agreement (the “Allergan License Agreement”), with Allergan Sales, LLC (“Allergan”), under which Allergan granted Recognify an exclusive (non-exclusive as to know-how), sublicensable and worldwide license under certain patent rights and know-how controlled by Allergan to develop, manufacture and commercialize certain products for use in all fields including the treatment of certain diseases and conditions of the central nervous system.

During the three and six months ended June 30, 2022 and 2021, respectively, Recognify made no material payments pursuant to the Allergan License Agreement.

Columbia Stock Purchase and License Agreement

In June 2020, Kures entered into a license agreement with Trustees of Columbia University (“Columbia”), pursuant to which, Kures obtained an exclusive license under certain patents and technical information to discover, develop, manufacture, use and commercialize such patents or other products in all uses and applications (“Columbia IP”). In addition, in consideration for the rights to the Columbia IP, Kures entered into a Stock Purchase Agreement (the “SPA”) with Columbia in contemplation of the license agreement. Pursuant to the SPA, Kures issued to Columbia certain shares of the Kures’ capital stock, representing 5.0% of Kures common stock on a fully diluted basis. Furthermore, the SPA provided that from time to time, Kures shall issue to Columbia additional shares of Kures’ common stock, at a per share price equal to the then fair market value of each such share, which price shall be deemed to have been paid in partial consideration for the execution, delivery and performance by Columbia of the License Agreement, such that the common stock held by Columbia shall equal to 5.0% of the common stock on a fully diluted basis, at all times up to and through the achievement of certain funding threshold.

During the three months ended June 30, 2022, Kures issued shares of Series A-2 Preferred Stock to certain investors upon the achievement of Series A-2 milestone events. Accordingly, the Company issued certain anti-dilution common stock to Columbia worth $0.3 million. The Company expensed the cost incurred for acquiring license as research & development expense at inception. Since, the additional anti-dilution shares were issued as partial consideration towards the same license arrangement, the cost of such additional share was also expensed as research & development expense during the three and six months ended June 30, 2022.

During the three and six months ended 2021, Kures made no material payments in connection with the Columbia agreement.

Accelerate License Agreement

On April 27, 2021, Psyber entered into a license arrangement with Accelerate Technologies Pte. Ltd. (“Accelerate”), whereby Accelerate grants Psyber non-exclusive rights to license and use the technology to commercialize of Psyber’s BCI-enabled companion digital

therapeutics in United States of America, Singapore, Member Countries of the European Union, Canada, Australia and New Zealand as a potential treatment for mental health and behavior change, such as substance use disorders including opioid use disorder, mood and anxiety disorders including post-traumatic stress disorder, and treatment-resistant depression.

During the three and six months ended June 30, 2022 and 2021, respectively, Psyber made no material payments pursuant to the Accelerate License agreement.

Dalriada License Agreement

On December 10, 2021, Invyxis, Inc. ("Invyxis"), a wholly owned subsidiary of the Company, entered into an exclusive services and license agreement (the "Invyxis ESLA") with Dalriada Drug Discovery Inc. ("Dalriada"). Under the Invyxis ESLA, Dalriada is to exclusively collaborate with Invyxis to develop products, services and processes with the specific purpose of generating products consisting of new chemical entities. Invyxis will pay Dalriada up to $12.8 million in service fees for research and support services. In addition, Invyxis will pay Dalriada success milestone payments and low single digit royalty payments based on net product sales. Invyxis has the right, but not the obligation, to settle future royalty payments based on net product sales with the Company's common stock. Invyxis and Dalriada will determine the equity settlement based on a price per share determined by both parties.

In January 2022, in accordance with the Invyxis ESLA, Invyxis paid an upfront deposit of $1.1 million, which was capitalized as prepaid research and development expense. The Company will expense the upfront deposit as the services are performed as a component of research and development expense in the consolidated statements of operations. During the three and six months ended June 30, 2022, the Company recorded $1.4 million and $1.8 million as research and development expense, respectively. During the three and six months ended June 30, 2022, Invyxis made no other service fee payments to Dalriada.

Related Party Transactions

6 Months Ended

Jun. 30, 2022

Related Party Transactions

17. 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, Galaxy Group Investments LLC. (“Galaxy”) and HCS Beteiligungsgesellschaft mbH (“HCS”) whereby these 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 17.9% and 18.0% of the outstanding common stock in the Company as of June 30, 2022 and December 31, 2021, respectively. Galaxy is a NYC-based multi-strategy investment firm that owns 6.7% and 6.7% of the outstanding common stock in the Company as of June 30, 2022 and December 31, 2021, respectively.

Convertible Note Agreements with Perception

In March 2020, Perception entered into the Perception Note Purchase Agreement with the Company and other investors, including related parties, which provided for the issuance of convertible notes of up to $3.9 million, among which Perception issued convertible notes in the aggregate principal amount of $3.3 million to the Company and $0.3 million to Sonia Weiss Pick and Family, and $0.3 million to other investors. In addition, in December 2020, Perception entered into the Perception December 2020 Convertible Note Agreement with the Company and other investors, including related parties, which provided for the issuance of convertible notes of up to $12.0 million in two tranches. Under the First Tranche Funding of $7.0 million, Perception issued an aggregate principal amount of $5.8 million to the Company and $0.4 million to other investors as of December 31, 2020 and $0.2 million to Apeiron, $0.5 million to Sonia Weiss Pick and Family, and $0.1 million to other investors in January 2021. Under the Second Tranche Funding of $5.0 million, Perception issued an aggregate of $4.2 million to the Company, $0.2 million to Apeiron, $0.3 million to Sonia Weiss Pick and Family, and $0.4 million to other investors.

On June 10, 2021, Perception received $20.0 million pursuant to the Otsuka Agreement. Upon receipt of the proceeds, the Perception Convertible Notes automatically converted into Series A preferred stock pursuant to their original terms. Sonia Weiss Pick and Family and Aperion received 440,415 shares and 27,809 shares of Perception Series A preferred stock, respectively, upon conversion of the Perception Convertible Notes. The conversion of the Perception December 2020 Notes was accounted for an extinguishment. The March 2020 Notes were accounted for as a conversion. These transactions are further described in Note 10.

Common Stock

Since 2018, the Company engaged SMC as the underwriting bank to provide banking, advisory services and securities-related technical support of cash and non-cash capital increase transactions. In connection with the issuance of common stock in November 2020, the Company paid SMC an aggregate amount of $4.5 million of advisory fees, of which approximately $3.7 million was paid to Apeiron by SMC during the first quarter of 2021.

In January 2021, pursuant to an additional closing from the common stock issuance in November and December 2020, the Company issued and sold 2,133,328 shares of common stock to Apeiron at the same issuance price, for cash proceeds of $12.2 million. In March 2021, in connection with the Company’s issuance of 13,419,360 shares of common stock, at a price of €9.69 or $11.71 per share, the Company

issued common shares to Apeiron for a total purchase price of $14.5 million, and issued common shares to Presight II, L.P. for a total purchase price of $13.9 million (See Note 11 ). Apeiron is the co-managing member of the general partner of Presight II, L.P.

Related Party Receivable

In February 2021, the Company advanced $0.8 million to a member of the management team to cover the personal payroll and income taxes on their taxable income from the exercise of stock options. This receivable was repaid in May 2021.

Directed Share Program

In connection with ATAI’s initial public offering, the underwriters reserved 27% of the common shares for sale at the initial offering price to the Company’s managing directors, supervisory directors and certain other parties. Apeiron participated in the program and purchased $10.5 million of common stock.

Consulting Agreement with Mr. Angermayer

In January 2021, the Company entered into a consulting agreement, (the “Consulting Agreement”), with Mr. Angermayer, one of the Company’s co-founders and supervisory director. Apeiron is the family office and merchant banking business of Mr. Angermayer. Pursuant to the Consulting Agreement, Mr. Angermayer agreed to render services to the Company on business and financing strategies in exchange for 624,000 shares under the 2020 Incentive Plan upon achievement of certain performance targets. The Consulting Agreement expires on March 31, 2024.

As a result of the Consulting Agreement, for the three and six months ended June 30, 2022, the Company recorded $0.2 million and $0.4 million, respectively, of stock-based compensation included in general and administrative expense in its condensed consolidated statement of operations. As a result of this agreement, for the three and six months ended June 30, 2021, the Company recorded $0.3 million of stock-based compensation included in general and administrative expense in its condensed consolidated statement of operations.

For the three and six months ended June 30, 2022, the Company recorded $0.2 million and $0.3 million, respectively, of stock-based compensation included in general and administrative expense in its condensed consolidated statement of operations related to Mr. Angermayer's service as Chairman of the supervisory board. For the three and six months ended June 30, 2021, the Company recorded an immaterial amount of general and administrative expense in its condensed consolidated statement of operations related to Mr. Angermayer's service as Chairman of the supervisory board.

Defined Contribution Plan

6 Months Ended

Jun. 30, 2022

Retirement Benefits [Abstract]

Defined Contribution Plan

18. 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. The Company made an immaterial amount of 401(k) contributions for the three and six months ended June 30, 2022 and 2021, respectively.

Subsequent Events

6 Months Ended

Jun. 30, 2022

Subsequent Events [Abstract]

Subsequent Events

19. Subsequent Events

Conversion of 2018 Convertible Notes

In July 2022, a noteholder elected to convert its convertible promissory notes into common shares of the Company. The investor paid €17.00 per share for the aggregate amount of €3.6 million or $3.6 million in order to convert their convertible promissory notes into ATAI Life Sciences N.V. common shares, which was in accordance with the original terms of the 2018 Convertible Note Agreements.

Hercules Term Loan

In August 2022, the Company and Hercules Capital, Inc. (“Hercules”), entered into a Loan and Security Agreement (the “Hercules Loan Agreement”), which provides for an aggregate principal amount of term loans of up to $175.0 million under multiple tranches (the “Team Loans”). The first tranche of the Term Loan was funded upon closing in August 2022 and the remaining loan amount is available at the Company’s discretion through August 1, 2026 (“Maturity Date”), except in the case of certain tranches, which are subject to achievement of certain performance milestones or approvals, as applicable. The Term Loan bears floating interest based on a prime-based variable rate, subject to a floor. The Term Loan matures 48 months from closing, which may be extended to 54 months upon achievement of certain conditions.

Basis of Presentation and Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2022

Accounting Policies [Abstract]

Basis of Presentation

Reclassification of Prior Year Presentation

Significant Accounting Policies

Use of Estimates

recognized in acquisitions, the valuations of common shares prior to IPO and share-based awards, and accruals for research and development costs.

The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable. Actual results may differ from those estimates or assumptions.

Cash and Cash Equivalents

Investment Securities Portfolio

The following table sets forth the fair value of atai's available-for-sale securities portfolio at the dates indicated:


	Fair Value
	June 30, 2022		December 31, 2021
Money Market Funds	$	38,878	$	—
U.S. Treasuries		3,478		—
Commercial Paper		114,880		—
Corporate Notes/Bonds		107,045		—
U.S. Government Agencies		2,951		—
	$	267,232	$	—

Fair Value Measurements

Level 1—Observable inputs such as unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date;

Fair Value Option

Furthermore, as noted above the Company also elected the fair value option for its investment securities portfolio.

Emerging Growth Company Status

Recently Adopted Accounting Pronouncements

The Company adopted the new standard on January 1, 2022 using the modified transition approach as of the effective date.

Recently Issued Accounting Pronouncements Not Yet Adopted

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2022

Accounting Policies [Abstract]

Schedule of fair value of our available-for-sale debt securities portfolio

The following table sets forth the fair value of atai's available-for-sale securities portfolio at the dates indicated:


	Fair Value
	June 30, 2022		December 31, 2021
Money Market Funds	$	38,878	$	—
U.S. Treasuries		3,478		—
Commercial Paper		114,880		—
Corporate Notes/Bonds		107,045		—
U.S. Government Agencies		2,951		—
	$	267,232	$	—

Variable Interest Entities and a Voting Interest Entity (Tables)

6 Months Ended

Jun. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Primary Beneficiary for VIEs Consolidated Under the VIE Model

As of June 30, 2022 and December 31, 2021, the Company has accounted for the following consolidated investments as VIEs, excluding the wholly owned subsidiaries:


Consolidated Entities	Relationship as of June 30, 2022	Relationship as of December 31, 2021	Date Control Obtained	Ownership % June 30, 2022	Ownership % December 31, 2021
Perception Neuroscience Holdings, Inc.	Controlled VIE	Controlled VIE	November 2018	58.9%	58.9%
Kures, Inc.	Controlled VIE	Controlled VIE	August 2019	64.5%	54.1%
EntheogeniX Biosciences, Inc.	Controlled VIE	Controlled VIE	November 2019	80.0%	80.0%
DemeRx IB, Inc.	Controlled VIE	Controlled VIE	December 2019	59.5%	59.5%
Recognify Life Sciences, Inc.	Controlled VIE	Controlled VIE	November 2020	51.9%	51.9%
PsyProtix, Inc.	Controlled VIE	Controlled VIE	February 2021	75.0%	75.0%
Psyber, Inc.	Controlled VIE	Controlled VIE	February 2021	75.0%	75.0%
InnarisBio, Inc.	Controlled VIE	Controlled VIE	March 2021	82.0%	82.0%
Neuronasal, Inc.	Controlled VIE	Controlled VIE	May 2021	56.5%	56.5%
TryptageniX Inc.	Controlled VIE	Controlled VIE	December 2021	65.0%	65.0%

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 June 30, 2022 (in thousands):


	Perception		Kures		EntheogeniX		DemeRx IB		Recognify		PsyProtix		Psyber		InnarisBio		Neuronasal			TryptageniX
Assets:
Current assets:
Cash	$	16,288	$	3,044	$	760	$	7,374	$	2,023	$	143	$	1,021	$	862	$	(61	)	$	1,814
Accounts receivable		170		—		—		—		—		—		—		—		—			—
Prepaid expenses and other current assets		1,497		45		46		106		—		66		—		411		64			3,000
Total current assets		17,955		3,089		806		7,480		2,023		209		1,021		1,273		3			4,814
Long term notes receivable		—		—		—		1,075		—		107		—		—		—			—
Other assets		—		—		—		—		—		—		198		—		—			—
Total assets	$	17,955	$	3,089	$	806	$	8,555	$	2,023	$	316	$	1,219	$	1,273	$	3		$	4,814
Liabilities:
Current liabilities:
Accounts payable	$	824	$	442	$	261	$	456	$	130	$	223	$	29	$	37	$	353		$	145
Accrued liabilities		624		418		184		612		165		71		36		128		661			378
Other current liabilities		505		1		—		228		1		—		—		1		41			—
Total current liabilities		1,953		861		445		1,296		296		294		65		166		1,055			523
Contingent consideration liability		1,420		—		—		—		—		—		—		88		—			830
Other non-current liabilities		—		—		—		—		—		—		—		—		283			10
Total liabilities	$	3,373	$	861	$	445	$	1,296	$	296	$	294	$	65	$	254	$	1,338		$	1,363

The following table presents the assets and liabilities (excluding intercompany balances that were eliminated in consolidation) for all consolidated VIEs as of December 31, 2021 (in thousands):


	Perception		Kures		EntheogeniX		DemeRx IB		Recognify		PsyProtix		Psyber		InnarisBio		Neuronasal		TryptageniX
Assets:
Current assets:
Cash	$	23,099	$	1,048	$	198	$	8,511	$	2,519	$	512	$	542	$	1,487	$	95	$	2,000
Unbilled receivable		64		—		—		—		—		—		—		—		—		—
Prepaid expenses and other current assets		1,138		104		—		70		4		1		—		62		207		—
Total current assets		24,301		1,152		198		8,581		2,523		513		542		1,549		302		2,000
Property and equipment, net		1		—		—		—		—		—		—		—		—		—
Long term notes receivable		—		—		—		1,075		—		104		—		—		—		—
Other assets		—		—		—		—		—		—		99		—		—		—
Total assets	$	24,302	$	1,152	$	198	$	9,656	$	2,523	$	617	$	641	$	1,549	$	302	$	2,000
Liabilities:
Current liabilities:
Accounts payable	$	598	$	235	$	53	$	439	$	29	$	51	$	15	$	—	$	326	$	—
Accrued liabilities		887		120		9		180		44		50		63		10		749		—
Current portion of contingent consideration liability - related parties		51		—		—		—		—		—		—		—		—		—
Deferred revenue		12		—		—		—		—		—		—		—		—		—
Short-term notes payable		—		—		—		—		—		—		—		—		38		—
Total current liabilities		1,548		355		62		619		73		101		78		10		1,113		—
Contingent consideration liability		1,489		—		—		—		—		—		—		93		—		850
Other non-current liabilities		—		—		—		—		—		—		—		—		336		820
Total liabilities	$	3,037	$	355	$	62	$	619	$	73	$	101	$	78	$	103	$	1,449	$	1,670

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 rollforward of the noncontrolling interests balance, as follows (in thousands):


	Perception			Kures		Recognify			Psyber		InnarisBio		Total
Balance as of December 31, 2021	$	5,232		$	—	$	3,819		$	—	$	—	$	9,051
Net loss attributable to noncontrolling interests - preferred		(571	)		—		(118	)		—		—		(689	)
Comprehensive loss attributable to noncontrolling interests		(11	)		—		—			—		—		(11	)
Balance as of March 31, 2022	$	4,650		$	—	$	3,701		$	—	$	—	$	8,351
Issuance of noncontrolling interests		—			957		—			—		—		957
Net loss attributable to noncontrolling interests - preferred		(800	)		—		(91	)		—		—		(891	)
Comprehensive income attributable to noncontrolling interests		30			—		—			—		—		30
Balance as of June 30, 2022	$	3,880		$	957	$	3,610		$	—	$	—	$	8,447


	Perception			Recognify			Psyber			InnarisBio			Neuronasal			Total
Balance as of December 31, 2020	$	—		$	4,546		$	—		$	—		$	—		$	4,546
Issuance of noncontrolling interests		—			—			8			877			—			885
Net income (loss) attributable to noncontrolling interests - common		1,755			—			(8	)		(877	)		—			870
Net income (loss) attributable to noncontrolling interests - preferred		2,608			(122	)		—			—			—			2,486
Comprehensive loss attributable to noncontrolling interests		(184	)		—			—			—			—			(184	)
Balance as of March 31, 2021	$	4,179		$	4,424		$	—		$	—		$	—		$	8,603
Issuance of noncontrolling interests		3,257			—									392			3,649
Net income (loss) attributable to noncontrolling interests - common		(1,755	)		(217	)								(392	)		(2,364	)
Net income (loss) attributable to noncontrolling interests - preferred		7			—			—			—			—			7
Comprehensive loss attributable to noncontrolling interests		150			—			—			—			—			150
Balance as of June 30, 2021	$	5,838		$	4,207		$	—		$	—		$	—		$	10,045

Schedule of Roll Forward of the Redeemable Noncontrolling Interests Balance


	Kures		Neuronasal			Total
Balance as of December 31, 2020	$	—	$	—		$	—
Issuance of redeemable noncontrolling interests		—		—			—
Net loss attributable to redeemable noncontrolling interests - common		—		—			—
Balance as of March 31, 2021	$	—	$	—		$	—
Issuance of redeemable noncontrolling interests		—		2,555			2,555
Net loss attributable to redeemable noncontrolling interests - common		—		(2,555	)		(2,555	)
Balance as of June 30, 2021	$	—	$	—		$	—

- 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

Equity Method Investments and Other Investments (Tables)

6 Months Ended

Jun. 30, 2022

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments

As of June 30, 2022 and December 31, 2021, the Company accounted for the following investments in the investee’s common stock under the equity method (amounts in thousands):


		As of June 30, 2022				As of December 31, 2021
	Date First	Common Stock		Carrying		Common Stock		Carrying
Investee	Acquired	Ownership %		Value		Ownership %		Value
Innoplexus A.G.	August 2018	35.0%		$	—	35.0%		$	—
COMPASS Pathways plc	December 2018	22.5%			1,162	22.8%			16,131
GABA Therapeutics, Inc	November 2020	7.5%	(1)		—	7.5%	(1)		—
Total				$	1,162			$	16,131

Investment

As of June 30, 2022 and December 31, 2021, the carrying values of other investments, which consisted of investments in the investee’s preferred stock and common stock not in the scope of ASC 323 were as follows (in thousands):


	June 30,		December 31,
	2022		2021
GABA Therapeutics, Inc.	$	7,865	$	10,260
DemeRx NB, Inc.		1,024		1,024
Juvenescence Limited		344		344
Total	$	9,233	$	11,628

Schedule Of Equity Method Investment Summarized Balance Sheet

Balance Sheets


	June 30, 2022
	Compass		GABA
Current assets	$	231,994	$	4,623
Non-current assets		6,642		—
Total assets	$	238,636	$	4,623

Current liabilities	$	13,233	$	371
Non-current liabilities		818		—
Total liabilities	$	14,051	$	371


	December 31, 2021
	Compass		GABA
Current assets	$	295,300	$	7,673
Non-current assets		5,598		—
Total assets	$	300,898	$	7,673

Current liabilities	$	15,107	$	199
Non-current liabilities		1,379		—
Total liabilities	$	16,486	$	199

Shedule Of Equity Method Investment Summarized Statement Of Operations

Statements of operations


	Three Months Ended June 30 , 2022
	Compass			Neuronasal(1)			GABA
Revenue	$	—		$	—		$	—
Loss from continuing operations	$	(27,256	)	$	—		$	(1,964	)
Net loss	$	(21,037	)	$	—		$	(1,964	)

	Three Months Ended June 30 , 2021
	Compass			Neuronasal(1)			GABA
Revenue	$	—		$	—		$	—
Loss from continuing operations	$	(19,528	)	$	(409	)	$	(387	)
Net loss	$	(19,528	)	$	(409	)	$	(387	)


	Six Months Ended June 30, 2022
	Compass			Neuronasal(1)			GABA
Revenue	$	—		$	—		$	—
Loss from continuing operations	$	(52,676	)	$	—		$	(3,570	)
Net loss	$	(42,208	)	$	—		$	(3,570	)

	Six Months Ended June 30, 2021
	Compass			Neuronasal(1)			GABA
Revenue	$	—		$	—		$	—
Loss from continuing operations	$	(33,130	)	$	(985	)	$	(1,046	)
Net loss	$	(33,130	)	$	(985	)	$	(1,046	)

(1) Results from operations for Neuronasal are through May 17, 2021 at which point the entity is consolidated.

Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2022

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

Summary of Fair Value Measurement on Recurring Basis


	Fair Value Measurements as of
	June 30, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Cash & Money market funds	$	38,878	$	—	$	—	$	38,878
Investment in securities at fair value:
U.S. Treasuries		—		3,478		—		3,478
Commercial Paper		—		114,880		—		114,880
Corporate Notes/Bonds		—		107,045		—		107,045
U.S. Government Agencies		—		2,951		—		2,951
Other investment at fair value		—		—		—		—
	$	38,878	$	228,354	$	—	$	267,232
Liabilities:
Contingent consideration liability - related parties	$	—	$	—		2,338	$	2,338
Warrant Liability		—		—		283		283
	$	—	$	—	$	2,621	$	2,621


	Fair Value Measurements as of
	December 31, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Cash & Money market funds	$	271,856	$	—	$	—	$	271,856
Investment in securities at fair value:
U.S. Treasuries		—		—		—		—
Commercial Paper		—		—		—		—
Corporate Notes/Bonds		—		—		—		—
U.S. Government Agencies		—		—		—		—
Other investment at fair value		—		—		—		—
	$	271,856	$	—	$	—	$	271,856
Liabilities:
Contingent consideration liability - related parties	$	—	$	—	$	2,483	$	2,483
Warrant liability		—		—		336		336
	$	—	$	—	$	2,819	$	2,819

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:


		June 30, 2022	December 31, 2021

Valuation Technique	Significant Unobservable Inputs	Input Range	Input Range
Discounted cash flow	Milestone contingent consideration:
	Discount rate	15.4%	11.4%
	Probability of the milestone	51.9%	51.9%
Discounted cash flow with SBM	Royalty contingent consideration:
	Discount rate for royalties	22.5% - 24.0%	19.2% - 20.1%
	Discount rate for royalties on milestones	14.2% - 15.6%	10.9% - 11.8%
	Probability of success rate	26.5% - 51.9%	26.5% to 100.0%

Summary of Fair Value Measurement on Recurring Basis, Unobservable Input Reconciliation


	Contingent Consideration Liability - Related Parties			Warrant Liability
Balance as of December 31, 2021	$	2,483		$	336
Initial fair value of instrument		—			—
Change in fair value		—			—
Extinguishment of liability		(50	)		—
Balance as of March 31, 2022	$	2,433		$	336
Initial fair value of instrument		—			—
Change in fair value		(95	)		(53	)
Extinguishment of liability					—
Balance as of June 30, 2022	$	2,338		$	283


	Other Investments Held at Fair Value			Contingent Consideration Liability - Related Parties			Derivative Liability			Warrant Liability
Balance as of December 31, 2020	$	—		$	1,705		$	214		$	—
Initial fair value of instrument		—			101			304			—
Change in fair value		—			(251	)		(41	)		—
Balance as of March 31, 2021	$	—		$	1,555		$	477		$	—
Initial fair value of instrument		9,358			—			343			249
Change in fair value		(4,720	)		911			—			40
Extinguishment of liability		—			—			(820	)		—
Balance as of June 30, 2021	$	4,638		$	2,466		$	—		$	289

Initial Warrants [Member]

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

Summary of Fair Value Measurement Inputs and Valuation Techniques

The following table summarizes significant unobservable inputs that are included in the valuation of the Initial Warrants as of June 30, 2022:


	June 30, 2022
Value of Underlying	$	0.16
Expected Volatility		115	%

The following table summarizes significant unobservable inputs that are included in the valuation of the Initial Warrants as of December 31, 2021:


	December 31, 2021
Value of Underlying	$	0.34
Expected Volatility		105	%

Warrant [Member]

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

Summary of Fair Value Measurement Inputs and Valuation Techniques

The following table summarizes significant unobservable inputs that are included in the valuation of the warrant lability as of June 30, 2022:


	June 30, 2022
Stock Price	$	40.41
Expected Volatility		105	%

The following table summarizes significant unobservable inputs that are included in the valuation of the warrant lability as of December 31, 2021:


	December 31, 2021
Stock Price	$	50.56
Expected Volatility		100	%

Additional Warrants [Member]

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

Summary of Fair Value Measurement Inputs and Valuation Techniques

The following table summarizes significant unobservable inputs that are included in the valuation of the Additional Units Warrant as of June 30, 2022:


	June 30, 2022
Value of Underlying	$	0.16
Expected Volatility		115	%

The following table summarizes significant unobservable inputs that are included in the valuation of the Additional Units Warrant as of December 31, 2021:


	December 31, 2021
Value of Underlying		0.34
Expected Volatility		105	%

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Prepaid Expenses and Other Current Assets (Tables)

6 Months Ended

Jun. 30, 2022

Prepaid Expense and Other Assets, Current [Abstract]

Summary of prepaid expenses and other current assets

Prepaid expenses consist of the following (in thousands):


	June 30, 2022		December 31, 2021
Prepaid research and development related expenses	$	3,828	$	2,692
Research and development tax credit		226		742
Sales tax receivables		5,674		4,664
Prepaid insurance		72		3,049
Other		1,322		756
Total	$	11,122	$	11,903

Accrued Liabilities (Tables)

6 Months Ended

Jun. 30, 2022

Accrued Liabilities, Current [Abstract]

Summary of accrued liabilities

Accrued liabilities consist of the following (in thousands):


	June 30, 2022		December 31, 2021
Accrued accounting, legal, and other professional fees	$	3,869	$	2,667
Taxes payable		6,880		8,137
Accrued external research and development expenses		4,322		861
Accrued payroll		2,614		2,832
Accrued advisory fees		115		169
Other liabilities		1,113		163
Total	$	18,913	$	14,829

Convertible Promissory Notes (Tables)

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Summary of convertible promissory notes

Convertible promissory notes—related parties, net of discounts and deferred issuance costs, consisted of the following (in thousands):


	June 30, 2022		December 31, 2021
Convertible notes issued in November 2018	$	48	$	125
Convertible notes issued in October 2020		571		623
Unamortized discount and deferred issuance costs		—		(5	)
Total	$	619	$	743

Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

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, 2021 to June 30, 2022:


	Number of Options				Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding as of December 31, 2021		26,687,620			$	6.85		4.85	$	74,525
Granted		9,670,493		(1)		5.49		—		—
Exercised		(90,784	)			2.77		—		—
Cancelled or forfeited		(1,856,558	)			10.50		—		—
Outstanding as of June 30, 2022		34,410,771		(2)	$	6.28		5.80	$	20,402
Options exercisable as of June 30, 2022		13,375,570			$	4.03		3.46	$	18,236

(1)

(2)

Summary of Employee Stock Ownership Plan (ESOP) Disclosures

The following is a summary of stock option activity for from December 31, 2021 to June 30, 2022:


	Number of Options		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value
Outstanding as of December 31, 2021		7,046,496		6.64		14.01	$	6,961
Granted		—		—		—		—
Exercised		—		—		—		—
Cancelled or forfeited		—		—		—		—
Outstanding as of June 30, 2022		7,046,496	$	6.64		13.51	$	—
Options exercisable as of June 30, 2022		5,537,474	$	6.64		13.51

Share-based Payment Arrangement, Expensed and Capitalized, Amount


	Three Months Ended June 30, 2022
	Atai ESOP		Atai HSOP		Other Subsidiaries Equity Plan		Total
Research and development	$	3,717	$	—	$	149	$	3,866
General and administrative		4,395		1,176		74	$	5,645
Total share based compensation expense	$	8,112	$	1,176	$	223	$	9,511


	Three Months Ended June 30, 2021
	Atai ESOP		Atai HSOP		Other Subsidiaries Equity Plan		Total
Research and development	$	8,698	$	—	$	161	$	8,859
General and administrative		11,940		16,650		63	$	28,653
Total share based compensation expense	$	20,638	$	16,650	$	224	$	37,512


	Six Months Ended June 30, 2022
	Atai ESOP		Atai HSOP		Other Subsidiaries Equity Plan		Total
Research and development	$	7,344	$	—	$	296	$	7,640
General and administrative		9,402		2,526		152	$	12,080
Total share based compensation expense	$	16,746	$	2,526	$	448	$	19,720


	Six Months Ended June 30, 2021
	Atai ESOP		Atai HSOP		Other Subsidiaries Equity Plan		Total
Research and development	$	8,698	$	—	$	310	$	9,008
General and administrative		11,940		16,650		125	$	28,715
Total share based compensation expense	$	20,638	$	16,650	$	435	$	37,723

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


	June 30,
	2022		2021
Weighted average expected term in years		5.93		3.64
Weighted average expected stock price volatility	70.5%		81.2%
Risk-free interest rate	1.46% - 3.03%		(0.76%) - 1.27%
Expected dividend yield	0%		0%

Net Loss Per Share (Tables)

6 Months Ended

Jun. 30, 2022

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):


	Three Months Ended June 30,						Six Months Ended June 30,
	2022			2021			2022			2021
Numerator:
Net loss	$	(37,509	)	$	(53,373	)	$	(75,067	)	$	(49,329	)
Net loss attributable to redeemable noncontrolling interests and noncontrolling interests		(891	)		(4,912	)		(1,580	)		(1,556	)
Net loss attributable to ATAI Life Sciences N.V. shareholders - basic and diluted	$	(36,618	)	$	(48,461	)	$	(73,487	)	$	(47,773	)
Denominator:
Weighted average common shares outstanding attributable to ATAI Life Sciences N.V. Stockholders - basic and diluted		153,971,202			132,265,075			153,751,456			125,797,732
Net loss per share attributable to ATAI Life Sciences N.V. shareholders - basic and diluted	$	(0.24	)	$	(0.37	)	$	(0.48	)	$	(0.38	)

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 June 30,
	2022		2021
Options to purchase common stock		34,410,771		23,797,993
HSOP options to purchase common stock		7,046,496		7,281,376
2018 Convertible Promissory Notes - Related Parties (Note 10)		9,561,824		16,000,000
		51,019,091		47,079,369

Organization and Description of Business - Additional Information (Detail) $ / shares in Units, $ in Thousands			1 Months Ended	6 Months Ended
	Jun. 22, 2021 USD ($) $ / shares shares	Jun. 07, 2021 € / shares	Mar. 31, 2021 USD ($)	Jun. 30, 2022 € / shares	Jun. 30, 2022 USD ($) $ / shares	Dec. 31, 2021 € / shares	Dec. 31, 2021 USD ($) $ / shares
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Common stock, Conversion basis		1.6 to one		1 to 10 basis
Common Stock, Par or Stated Value Per Share \| (per share)		€ 0.10		€ 0.10	$ 0.12	€ 0.10	$ 0.12
Short-term debt securities					$ 228,400
Proceeds from initial public offering			$ 152,200
Cash and cash equivalents					84,132		$ 362,266
Accumulated deficit					$ (431,290)		$ (357,803)
IPO [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Issuance of common shares, net of issuance costs ,Shares \| shares	17,250,000
Sale of stock issue price per share \| $ / shares	$ 15.00
Proceeds from initial public offering	$ 231,600
Underwriting discount	18,100
Other offering costs	$ 9,000
Over-Allotment Option [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Issuance of shares upon exercise of stock options, shares \| shares	2,250,000

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Accounting Policies [Line Items]
Fair value amount of convertible promissory note	$ 28.8
Operating lease right-of-use asset	0.2
Current operating lease liability	0.1
Long-term operating lease liability	0.1
2018 Convertible Notes [Member]
Accounting Policies [Line Items]
Carrying amount of convertible promissory note	$ 0.6	$ 0.8
Fair value amount of convertible promissory note		$ 69.7

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of fair value of our available-for-sale debt securities portfolio (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Accounting Policies [Line Items]
Fair value of available-for-sale debt securities	$ 267,232	$ 0
Money Market Funds [Member]
Accounting Policies [Line Items]
Fair value of available-for-sale debt securities	38,878	0
U.S. Treasuries [Member]
Accounting Policies [Line Items]
Fair value of available-for-sale debt securities	3,478	0
Commercial Paper [Member]
Accounting Policies [Line Items]
Fair value of available-for-sale debt securities	114,880	0
Corporate Bond Securities [Member]
Accounting Policies [Line Items]
Fair value of available-for-sale debt securities	107,045	0
U.S. Government Agencies [Member]
Accounting Policies [Line Items]
Fair value of available-for-sale debt securities	$ 2,951	$ 0

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands				1 Months Ended			6 Months Ended		12 Months Ended
	Dec. 03, 2021	May 17, 2021	Mar. 10, 2021	Nov. 30, 2021	Oct. 31, 2021	Feb. 28, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Nov. 17, 2021
Business Combinations [Line Items]
Long-term notes receivable—related parties							$ 7,040		$ 3,835
Research and Development in Process							$ 357	$ 8,934
Equity Method Investment, Ownership Percentage							80.00%		80.00%
Chymia, LLC [Member]
Business Combinations [Line Items]
Long-term notes receivable—related parties							$ 100
PsyProtix Purchase Agreement [Member]
Business Combinations [Line Items]
Cash consideration, net of cash acquired						$ 100
Estimated fair value of contingent consideration						$ 4,900
Number of days of voting and other rights of expiration date						10 days
Company's capital contribution threshold limit						$ 5,000
Loan received						$ 100
Interest rate						5.00%
Aggregate principal amount						$ 100
Business Combination, consideration paid									$ 100
Business Combination, identifiable assets acquired									100
Business Combination, clinical milestones payment amount					$ 500
PsyProtix Purchase Agreement [Member] \| Series A Preferred Stock [Member]
Business Combinations [Line Items]
Preferred Stock Restated shares					500,000
PsyProtix Purchase Agreement [Member] \| PsyProtix, Inc. [Member]
Business Combinations [Line Items]
Business Acquisition, Percentage of Voting Interests						75.00%
PsyProtix Purchase Agreement [Member] \| Chymia, LLC [Member]
Business Combinations [Line Items]
Business Acquisition, Percentage of Voting Interests						25.00%
Psyber Purchase Agreement [Member]
Business Combinations [Line Items]
Cash consideration, net of cash acquired						$ 200
Estimated fair value of contingent consideration						$ 1,800
Number of days of voting and other rights of expiration date						10 days
Company's capital contribution threshold limit						$ 2,000
Business Combination, consideration paid									200
Business Combination, identifiable assets acquired									200
Psyber Purchase Agreement [Member] \| Psyber, Inc. [Member]
Business Combinations [Line Items]
Business Acquisition, Percentage of Voting Interests						75.00%
Psyber Purchase Agreement [Member] \| Psyber, LLC [Member]
Business Combinations [Line Items]
Business Acquisition, Percentage of Voting Interests						25.00%
InnarisBio Purchase Agreement [Member]
Business Combinations [Line Items]
Cash consideration, net of cash acquired						$ 1,100
Estimated fair value of contingent consideration						$ 3,900
Number of days of voting and other rights of expiration date						10 days
Business Combination, consideration paid									1,100
Business Combination, identifiable assets acquired									2,000
Business Combination, fair value of the noncontrolling interest issued									900
Purchase consideration for the noncontrolling interest and recognized as a liability									100
Business Combination, clinical milestones payment amount				$ 1,200
Research and Development in Process									$ 1,000
InnarisBio Purchase Agreement [Member] \| Series A Preferred Stock [Member]
Business Combinations [Line Items]
Preferred Stock Restated shares				1,238,000
InnarisBio Purchase Agreement [Member] \| InnarisBio, Inc. [Member]
Business Combinations [Line Items]
Business Acquisition, Percentage of Voting Interests						82.00%
InnarisBio Purchase Agreement [Member] \| UniQuest, LLC [Member]
Business Combinations [Line Items]
Business Acquisition, Percentage of Voting Interests						18.00%
Neuronasal, Inc. [Member]
Business Combinations [Line Items]
Business Acquisition, Percentage of Voting Interests		56.50%
Neuronasal, Inc. [Member] \| Series A Preferred Stock [Member]
Business Combinations [Line Items]
Business Combination, purchase of shares		$ 1,000	$ 800
Neuronasal, Inc. [Member] \| Common Stock [Member]
Business Combinations [Line Items]
Business Combination, purchase of shares			$ 300
TryptageniX, Inc [Member]
Business Combinations [Line Items]
Estimated fair value of contingent consideration	$ 900
Business Combination, consideration paid	1,000
Business Combination, identifiable assets acquired	6,500
Business Combination, fair value of the noncontrolling interest issued	3,900
Equity Method Investment, Ownership Percentage										65.00%
Fair value of liability for seller financing	800
Business Combination, IPR&D asset	6,500
Exclusivity fee, Additional payment	1,000
Exclusivity fee, First Installment	2,000
Exclusivity fee, Remaining installment	$ 1,000
TryptageniX, Inc [Member] \| Common Class A [Member]
Business Combinations [Line Items]
Held in escrow										$ 2,000
TryptageniX, Inc [Member] \| CBT holding [Member]
Business Combinations [Line Items]
Equity Method Investment, Ownership Percentage										35.00%

Variable Interest Entities and a Voting Interest Entity - Additional information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Variable Interest Entity [Line Items]
Net loss attributable to redeemable noncontrolling interests	$ (891)	$ (4,912)	$ (1,580)	$ (1,556)
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	9,200		9,200		$ 11,600
Variable Interest Entity, Nonconsolidated, Comparison of Carrying Amount of Assets and Liabilities to Maximum Loss Exposure	$ 7,000		7,000		$ 3,800
Purchase of common stock			$ 1,000
Equity method investment, ownership percentage	80.00%		80.00%		80.00%
Redeemable noncontrolling interests in temporary equity	$ 0		$ 0		$ 0
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest	$ 0	$ 0
PsyProtix, Inc. [Member]
Variable Interest Entity [Line Items]
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage			75.00%		75.00%

Variable Interest Entities and a Voting Interest Entity - Summary of Primary Beneficiary for VIEs Consolidated Under the VIE Model (Detail)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Perception Neuroscience Holdings, Inc. [Member]
Variable Interest Entity [Line Items]
Relationship	Controlled VIE	Controlled VIE
Date Control Obtained	November 2018
Ownership %	58.90%	58.90%
Kures, Inc. [Member]
Variable Interest Entity [Line Items]
Relationship	Controlled VIE	Controlled VIE
Date Control Obtained	August 2019
Ownership %	64.50%	54.10%
EntheogeniX Biosciences, Inc. [Member]
Variable Interest Entity [Line Items]
Relationship	Controlled VIE	Controlled VIE
Date Control Obtained	November 2019
Ownership %	80.00%	80.00%
DemeRx IB, Inc. [Member]
Variable Interest Entity [Line Items]
Relationship	Controlled VIE	Controlled VIE
Date Control Obtained	December 2019
Ownership %	59.50%	59.50%
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%
PsyProtix, Inc. [Member]
Variable Interest Entity [Line Items]
Relationship	Controlled VIE	Controlled VIE
Date Control Obtained	February 2021
Ownership %	75.00%	75.00%
Psyber, Inc. [Member]
Variable Interest Entity [Line Items]
Relationship	Controlled VIE	Controlled VIE
Date Control Obtained	February 2021
Ownership %	75.00%	75.00%
InnarisBio, Inc. [Member]
Variable Interest Entity [Line Items]
Relationship	Controlled VIE	Controlled VIE
Date Control Obtained	March 2021
Ownership %	82.00%	82.00%
Neuronasal, Inc. [Member]
Variable Interest Entity [Line Items]
Relationship	Controlled VIE	Controlled VIE
Date Control Obtained	May 2021
Ownership %	56.50%	56.50%
TryptageniX Inc. [Member]
Variable Interest Entity [Line Items]
Relationship	Controlled VIE	Controlled VIE
Date Control Obtained	December 2021
Ownership %	65.00%	65.00%

Variable Interest Entities and a Voting Interest Entity - Summary of the Assets and Liabilities for all Consolidated VIEs (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Prepaid expenses and other current assets	$ 11,122	$ 11,903
Total current assets	323,608	375,082
Property and equipment, net	303	149
Other assets	7,590	7,341
Total assets	348,936	414,166
Current liabilities:
Accounts payable	2,738	6,004
Accrued liabilities	18,913	14,829
Current portion of contingent consideration liability - related parties	0	51
Short-term notes payable	228,400
Other current liabilities	306	51
Total current liabilities	21,957	20,935
Contingent consideration liability	2,338	2,432
Other non-current liabilities	3,900	4,097
Total liabilities	28,814	28,207
Perception [Member]
Current assets:
Cash	16,288	23,099
Accounts Receivable	170
Unbilled receivable		64
Prepaid expenses and other current assets	1,497	1,138
Total current assets	17,955	24,301
Property and equipment, net		1
Long term notes receivable	0	0
Other assets	0	0
Total assets	17,955	24,302
Current liabilities:
Accounts payable	824	598
Accrued liabilities	624	887
Current portion of contingent consideration liability - related parties		51
Deferred revenue		12
Short-term notes payable		0
Other current liabilities	505
Total current liabilities	1,953	1,548
Contingent consideration liability	1,420	1,489
Other non-current liabilities	0	0
Total liabilities	3,373	3,037
Kures [Member]
Current assets:
Cash	3,044	1,048
Accounts Receivable	0
Unbilled receivable		0
Prepaid expenses and other current assets	45	104
Total current assets	3,089	1,152
Property and equipment, net		0
Long term notes receivable	0	0
Other assets	0	0
Total assets	3,089	1,152
Current liabilities:
Accounts payable	442	235
Accrued liabilities	418	120
Current portion of contingent consideration liability - related parties		0
Deferred revenue		0
Short-term notes payable		0
Other current liabilities	1
Total current liabilities	861	355
Contingent consideration liability	0	0
Other non-current liabilities	0	0
Total liabilities	861	355
EntheogeniX [Member]
Current assets:
Cash	760	198
Accounts Receivable	0
Unbilled receivable		0
Prepaid expenses and other current assets	46	0
Total current assets	806	198
Property and equipment, net		0
Long term notes receivable	0	0
Other assets	0	0
Total assets	806	198
Current liabilities:
Accounts payable	261	53
Accrued liabilities	184	9
Current portion of contingent consideration liability - related parties		0
Deferred revenue		0
Short-term notes payable		0
Other current liabilities	0
Total current liabilities	445	62
Contingent consideration liability	0	0
Other non-current liabilities	0	0
Total liabilities	445	62
DemeRx IB [Member]
Current assets:
Cash	7,374	8,511
Accounts Receivable	0
Unbilled receivable		0
Prepaid expenses and other current assets	106	70
Total current assets	7,480	8,581
Property and equipment, net		0
Long term notes receivable	1,075	1,075
Other assets	0	0
Total assets	8,555	9,656
Current liabilities:
Accounts payable	456	439
Accrued liabilities	612	180
Current portion of contingent consideration liability - related parties		0
Deferred revenue		0
Short-term notes payable		0
Other current liabilities	228
Total current liabilities	1,296	619
Contingent consideration liability	0	0
Other non-current liabilities	0	0
Total liabilities	1,296	619
Recognify [Member]
Current assets:
Cash	2,023	2,519
Accounts Receivable	0
Unbilled receivable		0
Prepaid expenses and other current assets	0	4
Total current assets	2,023	2,523
Property and equipment, net		0
Long term notes receivable	0	0
Other assets	0	0
Total assets	2,023	2,523
Current liabilities:
Accounts payable	130	29
Accrued liabilities	165	44
Current portion of contingent consideration liability - related parties		0
Deferred revenue		0
Short-term notes payable		0
Other current liabilities	1
Total current liabilities	296	73
Contingent consideration liability	0	0
Other non-current liabilities	0	0
Total liabilities	296	73
PsyProtix [Member]
Current assets:
Cash	143	512
Accounts Receivable	0
Unbilled receivable		0
Prepaid expenses and other current assets	66	1
Total current assets	209	513
Property and equipment, net		0
Long term notes receivable	107	104
Other assets	0	0
Total assets	316	617
Current liabilities:
Accounts payable	223	51
Accrued liabilities	71	50
Current portion of contingent consideration liability - related parties		0
Deferred revenue		0
Short-term notes payable		0
Other current liabilities	0
Total current liabilities	294	101
Contingent consideration liability	0	0
Other non-current liabilities	0	0
Total liabilities	294	101
Psyber [Member]
Current assets:
Cash	1,021	542
Accounts Receivable	0
Unbilled receivable		0
Prepaid expenses and other current assets	0	0
Total current assets	1,021	542
Property and equipment, net		0
Long term notes receivable	0	0
Other assets	198	99
Total assets	1,219	641
Current liabilities:
Accounts payable	29	15
Accrued liabilities	36	63
Current portion of contingent consideration liability - related parties		0
Deferred revenue		0
Short-term notes payable		0
Other current liabilities	0
Total current liabilities	65	78
Contingent consideration liability	0	0
Other non-current liabilities	0	0
Total liabilities	65	78
InnarisBio [Member]
Current assets:
Cash	862	1,487
Accounts Receivable	0
Unbilled receivable		0
Prepaid expenses and other current assets	411	62
Total current assets	1,273	1,549
Property and equipment, net		0
Long term notes receivable	0	0
Other assets	0	0
Total assets	1,273	1,549
Current liabilities:
Accounts payable	37	0
Accrued liabilities	128	10
Current portion of contingent consideration liability - related parties		0
Deferred revenue		0
Short-term notes payable		0
Other current liabilities	1
Total current liabilities	166	10
Contingent consideration liability	88	93
Other non-current liabilities	0	0
Total liabilities	254	103
Neuronasal Inc [Member]
Current assets:
Cash	(61)	95
Accounts Receivable	0
Unbilled receivable		0
Prepaid expenses and other current assets	64	207
Total current assets	3	302
Property and equipment, net		0
Long term notes receivable	0	0
Other assets	0	0
Total assets	3	302
Current liabilities:
Accounts payable	353	326
Accrued liabilities	661	749
Current portion of contingent consideration liability - related parties		0
Deferred revenue		0
Short-term notes payable		38
Other current liabilities	41
Total current liabilities	1,055	1,113
Contingent consideration liability	0	0
Other non-current liabilities	283	336
Total liabilities	1,338	1,449
TryptageniX Inc. [Member]
Current assets:
Cash	1,814	2,000
Accounts Receivable	0
Unbilled receivable		0
Prepaid expenses and other current assets	3,000	0
Total current assets	4,814	2,000
Property and equipment, net		0
Long term notes receivable	0	0
Other assets	0	0
Total assets	4,814	2,000
Current liabilities:
Accounts payable	145	0
Accrued liabilities	378	0
Current portion of contingent consideration liability - related parties		0
Deferred revenue		0
Short-term notes payable		0
Other current liabilities	0
Total current liabilities	523	0
Contingent consideration liability	830	850
Other non-current liabilities	10	820
Total liabilities	$ 1,363	$ 1,670

Variable Interest Entities and a Voting Interest Entity - Schedule of Non Controlling Interest Recognized to Its Consolidated VIEs Roll Forward (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021
Noncontrolling Interest [Line Items]
Opening balance	$ 8,351	$ 9,051	$ 8,603	$ 4,546
Issuance of noncontrolling interests	957		3,649	885
Net income (loss) attributable to noncontrolling interests—common			(2,364)	870
Net loss attributable to redeemable noncontrolling interests - common			(2,555)	0
Net income (loss) attributable to noncontrolling interests - preferred	(891)	(689)	7	2,486
Comprehensive loss attributable to noncontrolling interests	30	(11)	150	(184)
Closing balance	8,447	8,351	10,045	8,603
Perception [Member]
Noncontrolling Interest [Line Items]
Opening balance	4,650	5,232	4,179	0
Issuance of noncontrolling interests	0		3,257	0
Net income (loss) attributable to noncontrolling interests—common			(1,755)	1,755
Net income (loss) attributable to noncontrolling interests - preferred	(800)	(571)	7	2,608
Comprehensive loss attributable to noncontrolling interests	30	(11)	150	(184)
Closing balance	3,880	4,650	5,838	4,179
Recognify [Member]
Noncontrolling Interest [Line Items]
Opening balance	3,701	3,819	4,424	4,546
Issuance of noncontrolling interests	0		0	0
Net income (loss) attributable to noncontrolling interests—common			(217)	0
Net income (loss) attributable to noncontrolling interests - preferred	(91)	(118)	0	(122)
Comprehensive loss attributable to noncontrolling interests	0	0	0	0
Closing balance	3,610	3,701	4,207	4,424
Psyber [Member]
Noncontrolling Interest [Line Items]
Opening balance	0	0	0	0
Issuance of noncontrolling interests	0			8
Net income (loss) attributable to noncontrolling interests—common				(8)
Net income (loss) attributable to noncontrolling interests - preferred	0	0	0	0
Comprehensive loss attributable to noncontrolling interests	0	0	0	0
Closing balance	0	0	0	0
InnarisBio [Member]
Noncontrolling Interest [Line Items]
Opening balance	0	0	0	0
Issuance of noncontrolling interests	0			877
Net income (loss) attributable to noncontrolling interests—common				(877)
Net income (loss) attributable to noncontrolling interests - preferred	0	0	0	0
Comprehensive loss attributable to noncontrolling interests	0	0	0	0
Closing balance	0	0	0	0
Kures [Member]
Noncontrolling Interest [Line Items]
Opening balance	0	0
Issuance of noncontrolling interests	957
Net loss attributable to redeemable noncontrolling interests - common			0	0
Net income (loss) attributable to noncontrolling interests - preferred	0	0
Comprehensive loss attributable to noncontrolling interests	0	0
Closing balance	$ 957	$ 0
Neuronasal Inc [Member]
Noncontrolling Interest [Line Items]
Opening balance			0	0
Issuance of noncontrolling interests			392	0
Net income (loss) attributable to noncontrolling interests—common			(392)	0
Net loss attributable to redeemable noncontrolling interests - common			(2,555)	0
Net income (loss) attributable to noncontrolling interests - preferred			0	0
Comprehensive loss attributable to noncontrolling interests			0	0
Closing balance			$ 0	$ 0

Variable Interest Entities and a Voting Interest Entity - Schedule of Roll Forward of the Redeemable Noncontrolling Interests Balance (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021
Redeemable Noncontrolling Interest [Line Items]
Opening balance	$ 0	$ 0
Issuance of redeemable noncontrolling interests	2,555	0
Net loss attributable to redeemable noncontrolling interests - common	(2,555)	0
Closing balance	0	0
Kures [Member]
Redeemable Noncontrolling Interest [Line Items]
Opening balance	0	0
Issuance of redeemable noncontrolling interests	0	0
Net loss attributable to redeemable noncontrolling interests - common	0	0
Closing balance	0	0
Neuronasal Inc [Member]
Redeemable Noncontrolling Interest [Line Items]
Opening balance	0	0
Issuance of redeemable noncontrolling interests	2,555	0
Net loss attributable to redeemable noncontrolling interests - common	(2,555)	0
Closing balance	$ 0	$ 0

Equity Method Investments and Other Investments - Summary of Equity Method Investments (Detail) - USD ($)
$ in Thousands

6 Months Ended

Jun. 30, 2022

Dec. 31, 2021

Dec. 07, 2021

Dec. 31, 2020

Schedule of Equity Method Investments [Line Items]

Equity Method Investments

$ 1,162

$ 16,131

Equity Method Investment, Ownership Percentage

80.00%

Innoplexus AG [Member]

Schedule of Equity Method Investments [Line Items]

Equity Method Investment, Description of Principal Activities

August 2018

Equity Method Investments

$ 0

Equity Method Investment, Ownership Percentage

35.00%

COMPASS Pathways Plc Two [Member]

Schedule of Equity Method Investments [Line Items]

Equity Method Investment, Description of Principal Activities

December 2018

Equity Method Investments

$ 1,162

$ 16,131

Equity Method Investment, Ownership Percentage

22.50%

22.80%

GABA Therapeutics Inc [Member]

Schedule of Equity Method Investments [Line Items]

Equity Method Investment, Description of Principal Activities

November 2020

Equity Method Investments

$ 0

Equity Method Investment, Ownership Percentage

^[1]

7.50%

[1]	The Company is deemed to have significant influence over this entity through its total ownership interest in the entity’s equity, including the Company’s investment in the respective entity’s preferred stock, described below in Other Investments.

Equity Method Investments and Other Investments - Summary of Equity Method Investments and Other Investments (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Investment [Line Items]
Other Long-term Investments	$ 9,233	$ 11,628
DemeRx NB Inc [Member]
Investment [Line Items]
Other Long-term Investments	1,024	1,024
Juvenescence Limited [Member]
Investment [Line Items]
Other Long-term Investments	344	344
GABA Therapeutics Inc [Member]
Investment [Line Items]
Other Long-term Investments	$ 7,865	$ 10,260

Equity Method Investments and Other Investments - Summary of financial data for investments (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Shedule Of Equity Method Investment Summarized Balance Sheet [Line Items]
Current assets	$ 323,608	$ 375,082
Total assets	348,936	414,166
Current liabilities	21,957	20,935
Total liabilities	28,814	28,207
GABA Therapeutics Inc [Member]
Shedule Of Equity Method Investment Summarized Balance Sheet [Line Items]
Current assets	4,623	7,673
Non-current assets	0	0
Total assets	4,623	7,673
Current liabilities	371	199
Non-current liabilities	0	0
Total liabilities	371	199
COMPASS Pathways Plc Two [Member]
Shedule Of Equity Method Investment Summarized Balance Sheet [Line Items]
Current assets	231,994	295,300
Non-current assets	6,642	5,598
Total assets	238,636	300,898
Current liabilities	13,233	15,107
Non-current liabilities	818	1,379
Total liabilities	$ 14,051	$ 16,486

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

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+ Details

Equity Method Investments and Other Investments - Summary of Statements of operations (Detail) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2022

Jun. 30, 2021

Jun. 30, 2022

Jun. 30, 2021

Shedule Of Equity Method Investment Summarized Statement Of Operations [Line Items]

Revenue

$ 170

$ 0

$ 170

$ 19,880

Net loss

(37,509)

(53,373)

(75,067)

(49,329)

COMPASS Pathways Plc Two [Member]

Shedule Of Equity Method Investment Summarized Statement Of Operations [Line Items]

Revenue

Loss from continuing operations

(27,256)

(19,528)

(52,676)

(33,130)

Net loss

(21,037)

(19,528)

(42,208)

(33,130)

Neuronasal Inc [Member]

Shedule Of Equity Method Investment Summarized Statement Of Operations [Line Items]

Revenue

^[1]

Loss from continuing operations

^[1]

(409)

(985)

Net loss

^[1]

(409)

(985)

GABA Therapeutics Inc [Member]

Shedule Of Equity Method Investment Summarized Statement Of Operations [Line Items]

Revenue

Loss from continuing operations

(1,964)

(387)

(3,570)

(1,046)

Net loss

$ (1,964)

$ (387)

$ (3,570)

$ (1,046)

[1]	Results from operations for Neuronasal are through May 17, 2021 at which point the entity is consolidated.

- Definition

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

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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.

+ References

+ 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

Equity Method Investments and Other Investments - Additional information (Detail) - USD ($)
$ / shares in Units, $ in Thousands

1 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 07, 2021

May 16, 2021

May 15, 2021

May 14, 2021

Apr. 13, 2021

Mar. 10, 2021

Nov. 30, 2020

Oct. 31, 2020

Dec. 07, 2021

Feb. 28, 2021

Oct. 31, 2020

Dec. 31, 2019

Aug. 31, 2019

Jun. 30, 2022

Mar. 31, 2022

Jun. 30, 2021

Mar. 31, 2021

Jun. 30, 2022

Jun. 30, 2021

Dec. 31, 2021

Dec. 31, 2019

Sep. 30, 2021

May 17, 2021

Feb. 16, 2021

Dec. 31, 2020

Cash and Cash Equivalents [Line Items]

Equity Method Investment, Ownership Percentage

80.00%

Equity method investment, Investee shares sold

$ 9,600

Equity method investment, Shares transaction date

Dec. 31, 2026

Secured debt

$ 2,200

Equity Method Investments

$ 1,162

1,162

$ 16,131

Income (Loss) from Equity Method Investments

(6,652)

$ (2,937)

(12,248)

$ (4,640)

Other Long-Term Investments

9,233

$ 9,233

11,628

Common stock, Conversion basis

1.6 to one

1 to 10 basis

Fair value option gain loss

$ (5,460)

$ 0

$ (5,460)

Stock Issued During Period, Value, Stock Options Exercised

$ 118

$ 132

Warrant [Member]

Cash and Cash Equivalents [Line Items]

Shares, Outstanding

44,000,000

Investment measured at fair value as per fair value option

$ 1,200

IntelGenx SPA [Member]

Cash and Cash Equivalents [Line Items]

Business acquisition, Share price

$ 0.35

IntelGenx SPA [Member] | Strategic Development Agreement [Member]

Cash and Cash Equivalents [Line Items]

Percentage of the funds to be used for research and development purpose

20.00%

GABA Inc [Member]

Cash and Cash Equivalents [Line Items]

Percentage of voting interest acquired

50.00%

Neuronasal Inc [Member]

Cash and Cash Equivalents [Line Items]

Equity Method Investments

$ 0

IntelGenx Corp [Member]

Cash and Cash Equivalents [Line Items]

Percentage of voting interest acquired

25.00%

Series A Preferred Stock [Member] | Neuronasal Inc [Member]

Cash and Cash Equivalents [Line Items]

Equity Method Investment, Ownership Percentage

20.00%

Payments to acquire investments

$ 500

Option to purchase additional shares value

$ 1,000

Preferred Stock [Member] | Neuronasal Inc [Member]

Cash and Cash Equivalents [Line Items]

Income (Loss) from Equity Method Investments

$ 1,000

Common Stock [Member]

Cash and Cash Equivalents [Line Items]

Shares, Outstanding

161,727,785

160,719,828

154,819,776

137,569,776

161,727,785

154,819,776

160,677,001

114,735,712

Stock Issued During Period, Value, Stock Options Exercised

$ 6

$ 5

Common Stock [Member] | IntelGenx SPA [Member]

Cash and Cash Equivalents [Line Items]

Investment measured at fair value as per fair value option

$ 3,000

Common Stock [Member] | Neuronasal Inc [Member]

Cash and Cash Equivalents [Line Items]

Equity Method Investments

$ 500

Percentage of voting interest acquired

10.80%

9.80%

Tax in association with basis difference from equity method investment

$ 500

Payments to acquire investments

$ 500

$ 300

Common Stock [Member] | Cost Basis [Member] | Neuronasal Inc [Member]

Cash and Cash Equivalents [Line Items]

Equity Method Investments

$ 500

Unit [Member] | IntelGenx SPA [Member] | Warrant [Member]

Cash and Cash Equivalents [Line Items]

Investment measured at fair value as per fair value option

$ 8,200

Unit [Member] | IntelGenx Corp [Member]

Cash and Cash Equivalents [Line Items]

Business acquisition, Share price

$ 0.331

IntelGenx [Member] | Warrant [Member]

Cash and Cash Equivalents [Line Items]

Investment measured at fair value as per fair value option

$ 1,200

IntelGenx [Member] | Unit [Member] | IntelGenx Corp [Member]

Cash and Cash Equivalents [Line Items]

Business acquisition, Share price

$ 0.75

Securities Purchase Agreement [Member]

Cash and Cash Equivalents [Line Items]

Number of years determining units purchase

3 years

Securities Purchase Agreement [Member] | IntelGenx SPA [Member]

Cash and Cash Equivalents [Line Items]

Number of months determining unit price

12 months

Percentage Of Premium To Market Price

20.00%

Stock Issued During Period, Value, Stock Options Exercised

$ 12,300

Percentage of the volume weighted average price of the common share

20.00%

Number of consecutive trading days for determining the volume weighted average price of common shares

30 days

Securities Purchase Agreement [Member] | IntelGenx Corp [Member]

Cash and Cash Equivalents [Line Items]

Business acquisition, Share price

$ 0.50

Securities Purchase Agreement [Member] | Common Stock [Member] | IntelGenx SPA [Member] | Minimum [Member]

Cash and Cash Equivalents [Line Items]

Investment owned number of shares

74,600,000

Securities Purchase Agreement [Member] | Additional Shares [Member] | IntelGenx SPA [Member] | Minimum [Member]

Cash and Cash Equivalents [Line Items]

Investment owned number of shares

74,600,000

Innoplexus AG [Member]

Cash and Cash Equivalents [Line Items]

Equity Method Investment, Ownership Percentage

35.00%

Equity Method Investments

$ 0

Innoplexus AG [Member] | Innoplexus SPA [Member]

Cash and Cash Equivalents [Line Items]

Equity method investment, Investee shares sold

$ 2,400

Equity method investment, Proceeds

$ 22,300

COMPASS Pathways Plc Two [Member]

Cash and Cash Equivalents [Line Items]

Equity Method Investment, Ownership Percentage

22.80%

22.50%

22.80%

Equity Method Investments

$ 1,162

$ 16,131

Equity method investment, Quoted market value

103,500

Income (Loss) from Equity Method Investments

$ 4,700

$ 2,100

$ 9,500

$ 2,100

Number of share purchased during period

1,490,111

Aggregate purchase price of additional shares purchased

$ 47,400

GABA Therapeutics Inc [Member]

Cash and Cash Equivalents [Line Items]

Equity Method Investment, Ownership Percentage

^[1]

7.50%

Equity Method Investments

$ 0

Income (Loss) from Equity Method Investments

1,900

$ 400

2,700

$ 1,100

Other Long-Term Investments

$ 7,865

10,260

GABA Therapeutics Inc [Member] | Amended GABA PSPA | Preferred Stock [Member] | Series A Preferred Stock [Member]

Cash and Cash Equivalents [Line Items]

Equity Method Investment, Ownership Percentage

20.00%

Payments to acquire investments

$ 600

$ 5,500

GABA Therapeutics Inc [Member] | Amended GABA PSPA | Common Stock [Member] | Series A Preferred Stock [Member]

Cash and Cash Equivalents [Line Items]

Payments to acquire investments

$ 5,000

10,000

GABA Therapeutics Inc [Member] | Amended GABA PSPA | Additional Shares [Member]

Cash and Cash Equivalents [Line Items]

Payments to acquire investments

$ 2,000

GABA Therapeutics Inc [Member] | Amended GABA PSPA | Additional Shares [Member] | Series A Preferred Stock [Member]

Cash and Cash Equivalents [Line Items]

Equity Method Investments

$ 1,500

GABA Options [Member] | Omnibus Amendment Agreement [Member]

Cash and Cash Equivalents [Line Items]

Stock Issued During Period, Value, Stock Options Exercised

$ 1,800

Neuronasal Options [Member] | Series A Preferred Stock [Member]

Cash and Cash Equivalents [Line Items]

Payments to acquire additional investments

$ 800

DemeRx NB Options [Member] | Series A Preferred Stock [Member]

Cash and Cash Equivalents [Line Items]

Equity Method Investment, Ownership Percentage

20.00%

Payments to acquire investments

$ 1,000

Option to purchase additional shares value

$ 19,000

[1]	The Company is deemed to have significant influence over this entity through its total ownership interest in the entity’s equity, including the Company’s investment in the respective entity’s preferred stock, described below in Other Investments.

Notes Receivable - Additional Information (Detail) $ / shares in Units, $ in Thousands					3 Months Ended	6 Months Ended	9 Months Ended	12 Months Ended
	Sep. 14, 2021 USD ($)	May 14, 2021 USD ($)	May 11, 2021 USD ($)	Jan. 03, 2020 USD ($) $ / shares	Jun. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Sep. 30, 2021	Dec. 31, 2021 € / shares	Jun. 30, 2022 € / shares	Jun. 30, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($) $ / shares	Jun. 07, 2021 € / shares	Mar. 08, 2021 USD ($)
Notes Receivable [Line Items]
Proceeds from issuance of equity		$ 3,000
Short-term notes payable										$ 228,400
Issuance of common stock shares par value \| (per share)								€ 0.10	€ 0.10	$ 0.12	$ 0.12	€ 0.10
Term loan impairment loss recognized										$ 0
Amended and Restated Loan Agreement [Member]
Notes Receivable [Line Items]
Loan agreement	$ 6,000
Term Loan Receivable [Member]
Notes Receivable [Line Items]
Loans and lease receivable, Outstanding										5,900
Interest income					$ 100	$ 200
Loans Receivable [Member]
Notes Receivable [Line Items]
Receivables, Maturity description						On May 14, 2021, the Company amended the loan agreement under which the Maturity Date will be the first business day following the first closing of a subscription for additional units if the proceeds from such subscription amount to at least $3.0 million.
IntelGenx Corp [Member]
Notes Receivable [Line Items]
Loans receivable, Fixed interest rate								8.00%
IntelGenx Corp [Member] \| Additional Term Loan And March Term Loan [Member]
Notes Receivable [Line Items]
Payments to acquire notes receivable			$ 500
IntelGenx Corp [Member] \| March Term Loan Receivable [Member]
Notes Receivable [Line Items]
Receivable, Face amount													$ 2,000
IntelGenx Corp [Member] \| Additional Term Loan Receivable [Member]
Notes Receivable [Line Items]
Receivable, Face amount													$ 500
IntelGenx Corp [Member] \| Additional Term Loan Receivable [Member] \| Amended and Restated Loan Agreement [Member]
Notes Receivable [Line Items]
Receivable, Face amount	6,000
IntelGenx Corp [Member] \| Additional Term Loan Receivable [Member] \| First Tranche [Member] \| Amended and Restated Loan Agreement [Member]
Notes Receivable [Line Items]
Receivable, Face amount	3,000
IntelGenx Corp [Member] \| Additional Term Loan Receivable [Member] \| Second Tranche [Member] \| Amended and Restated Loan Agreement [Member]
Notes Receivable [Line Items]
Receivable, Face amount	3,000
IntelGenx Corp [Member] \| Term Loan Receivable [Member]
Notes Receivable [Line Items]
Receivable, Face amount	$ 8,500
Receivables, Maturity terms							120 days
IntelGenx Corp [Member] \| Term Loan Receivable [Member] \| Amended and Restated Loan Agreement [Member]
Notes Receivable [Line Items]
Term loan maturity date	Jan. 05, 2024
Promissory Note Agreement [Member] \| DemeRx [Member]
Notes Receivable [Line Items]
Debt Instrument, face amount inclusive other payments				$ 1,000
DemeRx Note [Member]
Notes Receivable [Line Items]
Receivables, Maturity terms				5 years
Loans and lease receivable, Outstanding										$ 1,100	$ 1,100
Interest income					$ 0	$ 0
Issuance of common stock shares par value \| $ / shares				$ 0.0001
DemeRx Note [Member] \| DemeRx [Member]
Notes Receivable [Line Items]
Debt Instrument, face amount inclusive other payments				$ 1,000

Fair Value Measurement - Summary of Fair Value Measurement on Recurring Basis (Detail) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Cash equivalents:
Money market funds	$ 38,878	$ 271,856
Other investment held at fair value	0	0
Assets fair value	267,232	271,856
Liabilities:
Contingent consideration liability—related parties	2,338	2,483
Warrant Liability	283	336
Liability fair value	2,621	2,819
U.S. Treasuries [Member]
Cash equivalents:
Fair value of debt securities	3,478	0
Commercial Paper [Member]
Cash equivalents:
Fair value of debt securities	114,880	0
Corporate Notes/Bonds [Member]
Cash equivalents:
Fair value of debt securities	107,045	0
U.S. Government Agencies [Member]
Cash equivalents:
Fair value of debt securities	2,951	0
Fair Value, Inputs, Level 1 [Member]
Cash equivalents:
Money market funds	38,878	271,856
Other investment held at fair value	0	0
Assets fair value	38,878	271,856
Liabilities:
Contingent consideration liability—related parties	0	0
Warrant Liability	0	0
Liability fair value	0	0
Fair Value, Inputs, Level 1 [Member] \| U.S. Treasuries [Member]
Cash equivalents:
Fair value of debt securities	0	0
Fair Value, Inputs, Level 1 [Member] \| Commercial Paper [Member]
Cash equivalents:
Fair value of debt securities	0	0
Fair Value, Inputs, Level 1 [Member] \| Corporate Notes/Bonds [Member]
Cash equivalents:
Fair value of debt securities	0	0
Fair Value, Inputs, Level 1 [Member] \| U.S. Government Agencies [Member]
Cash equivalents:
Fair value of debt securities	0	0
Fair Value, Inputs, Level 2 [Member]
Cash equivalents:
Money market funds	0	0
Other investment held at fair value	0	0
Assets fair value	228,354	0
Liabilities:
Contingent consideration liability—related parties	0	0
Warrant Liability	0	0
Liability fair value	0	0
Fair Value, Inputs, Level 2 [Member] \| U.S. Treasuries [Member]
Cash equivalents:
Fair value of debt securities	3,478	0
Fair Value, Inputs, Level 2 [Member] \| Commercial Paper [Member]
Cash equivalents:
Fair value of debt securities	114,880	0
Fair Value, Inputs, Level 2 [Member] \| Corporate Notes/Bonds [Member]
Cash equivalents:
Fair value of debt securities	107,045	0
Fair Value, Inputs, Level 2 [Member] \| U.S. Government Agencies [Member]
Cash equivalents:
Fair value of debt securities	2,951	0
Fair Value, Inputs, Level 3 [Member]
Cash equivalents:
Money market funds	0	0
Other investment held at fair value	0	0
Assets fair value	0	0
Liabilities:
Contingent consideration liability—related parties	2,338	2,483
Warrant Liability	283	336
Liability fair value	2,621	2,819
Fair Value, Inputs, Level 3 [Member] \| U.S. Treasuries [Member]
Cash equivalents:
Fair value of debt securities	0	0
Fair Value, Inputs, Level 3 [Member] \| Commercial Paper [Member]
Cash equivalents:
Fair value of debt securities	0	0
Fair Value, Inputs, Level 3 [Member] \| Corporate Notes/Bonds [Member]
Cash equivalents:
Fair value of debt securities	0	0
Fair Value, Inputs, Level 3 [Member] \| U.S. Government Agencies [Member]
Cash equivalents:
Fair value of debt securities	$ 0	$ 0

Fair Value Measurement - Summary of Fair Value Measurement Inputs and Valuation Techniques (Detail)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Measurement Input, Price Volatility [Member] \| Level 3 [Member] \| Additional Warrants [Member] \| IntelGenx [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant Liability, Measurement Input	1.15	1.05
Measurement Input, Price Volatility [Member] \| Neuronasal Inc [Member] \| Level 3 [Member] \| Warrant [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Alternative Investment, Measurement Input	1.05	1
Measurement Input, Price Volatility [Member] \| Neuronasal Inc [Member] \| Level 3 [Member] \| Initial Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant Liability, Measurement Input	1.15	1.05
Measurement Input, Share Price [Member] \| Neuronasal Inc [Member] \| Level 3 [Member] \| Warrant [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Alternative Investment, Measurement Input	40.41	50.56
Value Of Underlying [Member] \| Level 3 [Member] \| Additional Warrants [Member] \| IntelGenx [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant Liability, Measurement Input	0.16	0.34
Value Of Underlying [Member] \| Neuronasal Inc [Member] \| Level 3 [Member] \| Initial Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant Liability, Measurement Input	0.16	0.34
Contingent Consideration Liability Related Parties [Member] \| Measurement Input, Discount Rate [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability, Measurement Input	0.154	0.114
Contingent Consideration Liability Related Parties [Member] \| Measurement Input Probability of the Milestone [Member] \| Valuation Technique, Discounted Cash Flow [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability, Measurement Input	0.519	0.519
Contingent Consideration Liability Related Parties [Member] \| 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]
Business Combination, Contingent Consideration, Liability, Measurement Input	0.225	0.192
Contingent Consideration Liability Related Parties [Member] \| 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]
Business Combination, Contingent Consideration, Liability, Measurement Input	0.240	0.201
Contingent Consideration Liability Related Parties [Member] \| 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]
Business Combination, Contingent Consideration, Liability, Measurement Input	0.142	0.109
Contingent Consideration Liability Related Parties [Member] \| 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]
Business Combination, Contingent Consideration, Liability, Measurement Input	0.156	0.118
Contingent Consideration Liability Related Parties [Member] \| 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]
Business Combination, Contingent Consideration, Liability, Measurement Input	0.265	0.265
Contingent Consideration Liability Related Parties [Member] \| Probability of Success Rate [Member] \| Discounted Cash Flow with SBM [Member] \| Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability, Measurement Input	0.519	1.000

Fair Value Measurement - Summary of Fair Value Measurement on Recurring Basis, Unobservable Input Reconciliation (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021
Other Investments At Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance			$ 0	$ 0
Initial fair value of instrument			9,358	0
Change in fair value			(4,720)	0
Extinguishment of liability			0
Ending Balance			4,638	0
Contingent Consideration Lability Related Parties [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	$ 2,433	$ 2,483	1,555	1,705
Initial fair value of instrument	0	0	0	101
Change in fair value	(95)	0	911	(251)
Extinguishment of liability		(50)	0
Ending Balance	2,338	2,433	2,466	1,555
Derivative Liability [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance			477	214
Initial fair value of instrument			343	304
Change in fair value			0	(41)
Extinguishment of liability			(820)
Ending Balance			0	477
Warrant Liability [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning Balance	336	336	0	0
Initial fair value of instrument	0	0	249	0
Change in fair value	(53)	0	40	0
Extinguishment of liability	0	0	0
Ending Balance	$ 283	$ 336	$ 289	$ 0

Fair Value Measurement - Additional Information (Detail) $ / shares in Units, $ in Millions	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jun. 30, 2021 € / shares	Jun. 30, 2021 $ / shares	May 14, 2021 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt conversion price \| (per share)			€ 1,350	$ 1,654
Fair value of the contingent milestone and royalty liabilities	$ 0.1	$ 0.1
Fair value of common stock by applying discount for lack of marketability	5.00%	5.00%
TryptageniX Inc. [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of the contingent milestone and royalty liabilities	$ 0.8	$ 0.9
Common Stock [Member] \| IntelGenx [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment measured at fair value as per fair value option					$ 3.0
Warrant [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment measured at fair value as per fair value option		1.2
Warrant [Member] \| IntelGenx [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment measured at fair value as per fair value option					1.2
Additional Warrants [Member] \| IntelGenx [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment measured at fair value as per fair value option					$ 8.2
Level 3 [Member] \| Neuronasal Inc [Member] \| Warrant [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of warrant liability	0.3	0.3
Contingent Milestone [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of the contingent milestone and royalty liabilities	1.4	1.5
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	$ 1.4	$ 1.5

Prepaid Expenses and Other Current Assets - Summary of Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid Research And Development Related Expenses	$ 3,828	$ 2,692
Research and development tax credit	226	742
Sales tax receivables	5,674	4,664
Prepaid insurance	72	3,049
Other	1,322	756
Total	$ 11,122	$ 11,903

Accrued Liabilities - Summary of Accrued Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Accrued Liabilities, Current [Abstract]
Accrued accounting, legal, and other professional fees	$ 3,869	$ 2,667
Taxes payable	6,880	8,137
Accrued external research and development expenses	4,322	861
Accrued payroll	2,614	2,832
Accrued advisory fees	115	169
Other liabilities	1,113	163
Total	$ 18,913	$ 14,829

Convertible Promissory Notes - Summary of Convertible Promissory Notes (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Unamortized discount and deferred issuance costs	$ 0	$ (5)
Total	619	743
Convertible Notes Issued in November 2018 [Member]
Debt Instrument [Line Items]
Long-term Debt	48	125
Convertible Notes Issued in October 2020 [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 571	$ 623

Convertible Promissory Notes - Additional Information (Detail) € / shares in Units, $ / shares in Units, € in Thousands					3 Months Ended		6 Months Ended		12 Months Ended
	May 31, 2022 EUR (€) € / shares	May 31, 2022 USD ($)	Jun. 10, 2021 USD ($) shares	Dec. 31, 2020 USD ($)	Jun. 30, 2022 USD ($) shares	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2021 EUR (€) € / shares	Dec. 31, 2021 USD ($)	Jun. 30, 2022 EUR (€)	Jun. 30, 2022 USD ($) $ / shares	Feb. 28, 2022	Jun. 30, 2021 € / shares	Jun. 30, 2021 USD ($) $ / shares	May 31, 2021 USD ($)	Jan. 01, 2021 USD ($)	Dec. 01, 2020 USD ($)	Oct. 31, 2020 EUR (€)	Oct. 31, 2020 USD ($) $ / shares	Mar. 16, 2020 USD ($)	Nov. 30, 2018 EUR (€)	Nov. 30, 2018 USD ($)	Oct. 31, 2018 EUR (€)	Oct. 31, 2018 USD ($)
Debt Instrument [Line Items]
Debt conversion price \| (per share)														€ 1,350	$ 1,654
Interest expense						$ 100,000		$ 200,000
Amortization of debt discount							$ 0	191,000
Unamortized debt discount															$ 93,000
Fair value amount of convertible promissory note												$ 28,800,000
General and administrative expense					$ 17,221,000	$ 37,331,000	35,203,000	$ 46,604,000
Second Tranche Funding [Member]
Debt Instrument [Line Items]
Convertible promissory notes issued																$ 5,000,000.0
Common Stock [Member]
Debt Instrument [Line Items]
Stock issued during period, convertible share \| shares					960,000
ATAI LIFE SCIENCES N.V. [Member]
Debt Instrument [Line Items]
Debt conversion price \| $ / shares																				$ 17.00
Face value of convertible notes \| €																			€ 1
Perception March 2020 Notes [Member]
Debt Instrument [Line Items]
Convertible promissory notes issued																					$ 3,900
Convertible promissory notes, interest rate																					5.00%
Fair value of ordinary shares			$ 600,000
Perception December 2020 Convertible Note Agreement [Member]
Debt Instrument [Line Items]
Convertible promissory notes issued																		$ 12,000,000.0
Convertible promissory notes, interest rate													5.00%
Fair value of derivative liabilities				$ 400,000
Proceeds from licensing and collaboration arrangement			20,000,000.0
Gain from change in fair value of the derivative liability			41,000
Loss on extinguishment of notes			500,000
Debt carrying value			2,700,000
Fair value of ordinary shares			2,200,000
Gain (loss) from change in fair value of the derivative liability			$ 41,000
Perception December 2020 Convertible Note Agreement [Member] \| Series A Preferred Stock [Member]
Debt Instrument [Line Items]
Convertible notes conversion, shares issued \| shares			6,456,595
Perception December 2020 Convertible Note Agreement [Member] \| First Tranche Funding [Member]
Debt Instrument [Line Items]
Convertible promissory notes issued				$ 6,200,000													$ 800,000	$ 7,000,000.0
Perception December 2020 Convertible Note Agreement [Member] \| Second Tranche Funding [Member]
Debt Instrument [Line Items]
Fair value of derivative liabilities												$ 300,000
Perception December 2020 Convertible Note Agreement [Member] \| ATAI LIFE SCIENCES N.V. [Member] \| Series A Preferred Stock [Member]
Debt Instrument [Line Items]
Convertible notes conversion, shares issued \| shares			5,403,791
Perception December 2020 Convertible Note Agreement [Member] \| ATAI LIFE SCIENCES N.V. [Member] \| Second Tranche Funding [Member]
Debt Instrument [Line Items]
Convertible promissory notes issued																4,200,000
Perception December 2020 Convertible Note Agreement [Member] \| Sonia Weiss Pick And Family [Member] \| Series A Preferred Stock [Member]
Debt Instrument [Line Items]
Convertible notes conversion, shares issued \| shares			440,415
Perception December 2020 Convertible Note Agreement [Member] \| Sonia Weiss Pick And Family [Member] \| Second Tranche Funding [Member]
Debt Instrument [Line Items]
Convertible promissory notes issued																300
Perception December 2020 Convertible Note Agreement [Member] \| Other Investors [Member] \| Series A Preferred Stock [Member]
Debt Instrument [Line Items]
Convertible notes conversion, shares issued \| shares			584,580
Perception December 2020 Convertible Note Agreement [Member] \| Other Investors [Member] \| Second Tranche Funding [Member]
Debt Instrument [Line Items]
Convertible promissory notes issued																400
Perception December 2020 Convertible Note Agreement [Member] \| Apeiron [Member] \| Series A Preferred Stock [Member]
Debt Instrument [Line Items]
Convertible notes conversion, shares issued \| shares			27,809
Perception December 2020 Convertible Note Agreement [Member] \| Apeiron [Member] \| Second Tranche Funding [Member]
Debt Instrument [Line Items]
Convertible promissory notes issued																$ 200,000
Perception December 2020 Convertible Note Agreement [Member] \| Qualified Sale of Preferred Stock [Member]
Debt Instrument [Line Items]
Minimum proceeds expected from sale of preferred stock for debt conversion							$ 5,000,000.0
Debt conversion price, discount percentage							25.00%
Perception December 2020 Convertible Note Agreement [Member] \| Licensing Transaction [Member]
Debt Instrument [Line Items]
Minimum licensing transaction for debt conversion							$ 5,000.0
Debt conversion price \| $ / shares												$ 0.75
Debt conversion price, threshold percentage				75.00%
Perception December 2020 Convertible Note Agreement [Member] \| Change In control [Member]
Debt Instrument [Line Items]
Debt conversion price \| $ / shares												$ 0.75
Two Thousand Eighteen Convertible Note Agreement [Member]
Debt Instrument [Line Items]
Convertible promissory notes issued											€ 100	$ 100,000										€ 200	$ 200,000	€ 800	$ 1,000,000.0
Debt conversion price \| € / shares	€ 17.00								€ 17.00
Fair value of ordinary shares	€ 1,000	$ 1,100,000							€ 5,800	$ 6,900,000
Aggregate principal amount				$ 1,200,000
Two Thousand Eighteen Convertible Note Agreement [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Convertible promissory notes issued																						€ 1,000	$ 1,200,000
Two Thousand Eighteen Convertible Note Agreement [Member] \| Apeiron [Member]
Debt Instrument [Line Items]
Convertible promissory notes issued																			500	$ 600,000
Two Thousand Eighteen Convertible Note Agreement [Member] \| Other Shareholder [Member]
Debt Instrument [Line Items]
Convertible promissory notes issued																			€ 300	$ 400,000

Common Stock - Additional Information (Detail) $ / shares in Units, $ in Thousands		1 Months Ended		3 Months Ended			6 Months Ended
	Jun. 22, 2021 USD ($) $ / shares shares	Mar. 31, 2021 USD ($) shares	Jan. 31, 2021 USD ($) shares	Jun. 30, 2022 shares	Jun. 30, 2021 shares	Mar. 31, 2021 € / shares shares	Jun. 30, 2022 USD ($) shares	Jun. 30, 2021 USD ($)	Dec. 31, 2021 shares	Mar. 31, 2021 $ / shares shares
Class of Stock [Line Items]
Common stock, shares, issued				161,727,785			161,727,785		160,677,001
Issuance costs \| $		$ 4,900
Common stock issuance price, cash \| $							$ 0	$ 409,884
Proceeds from issuance of IPO \| $		$ 152,200
IPO [Member]
Class of Stock [Line Items]
Sale of stock issue price per share \| $ / shares	$ 15.00
Stock issued during period, Shares	17,250,000
Proceeds from issuance of IPO \| $	$ 231,600
Underwriting discount \| $	$ 18,100
Common Stock [Member]
Class of Stock [Line Items]
Common stock, shares, issued						13,419,360				13,419,360
Sale of stock issue price per share \| (per share)						€ 9.69				$ 11.71
Stock issued during period, Shares		13,419,360			17,250,000	15,552,688
Stock issued during period, convertible share				960,000
Class A Common Shares [Member]
Class of Stock [Line Items]
Stock issued during period, Shares	2,250,000
Class A Common Shares [Member] \| IPO [Member]
Class of Stock [Line Items]
Sale of stock issue price per share \| $ / shares	$ 15.00
Stock issued during period, Shares	17,250,000
Proceeds from issuance of IPO \| $	$ 231,600
Offering costs \| $	$ 9,000
Apeiron [Member]
Class of Stock [Line Items]
Common stock, shares, issued			2,133,328
Common stock issuance price, cash \| $			$ 12,200
Apeiron [Member] \| Common Stock [Member]
Class of Stock [Line Items]
Stock issued during period, Shares			2,133,328

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]
$ / shares in Units, $ in Thousands

6 Months Ended

12 Months Ended

Jun. 30, 2022

USD ($)

$ / shares

Dec. 31, 2021

USD ($)

$ / shares

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

Number of options, Beginning | shares

26,687,620

Number of Options, Granted | shares

9,670,493

^[1]

Number of Options, Exercised | shares

(90,784)

Number of options, Cancelled or forfeited | shares

1,856,558

Number of options, End | shares

34,410,771

^[2]

26,687,620

Number of options, Options exercisable | shares

13,375,570

Weighted-Average Exercise Price, Beginning | $ / shares

$ 6.85

Weighted-Average Exercise Price, Granted | $ / shares

5.49

Weighted-Average Exercise Price, Exercised | $ / shares

2.77

Weighted-Average Exercise Price, Cancelled or forfeited | $ / shares

10.50

Weighted-Average Exercise Price, Outstanding | $ / shares

6.28

$ 6.85

Weighted-Average Exercise Price, Options exercisable | $ / shares

$ 4.03

Weighted-Average Remaining Contractual Term (Years)

5 years 9 months 18 days

4 years 10 months 6 days

Weighted-Average Remaining Contractual Term (Years), Options exercisable

3 years 5 months 15 days

Aggregate Intrinsic Value, Outstanding | $

$ 20,402

$ 74,525

Aggregate Intrinsic Value, Options exercisable | $

$ 18,236

[1]

[2]

Stock-Based Compensation - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions (Detail) - Service And Performance Based Options [Member] - Two Thousand And Twenty Incentive Plan [Member]	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average expected term in years	5 years 11 months 4 days	3 years 7 months 20 days
Weighted average expected stock price volatility	70.50%	81.20%
Risk-free interest rate, Minimum	1.46%	(0.76%)
Risk-free interest rate, Maximum	3.03%	1.27%
Expected dividend yield	0.00%	0.00%

Stock-Based Compensation - Summary of Employee Stock Ownership Plan (ESOP) Disclosures (Detail) - HSOP Shares [Member] - HSOP Plan[Member] - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of options,Beginning	7,046,496
Number of options,End	7,046,496	7,046,496
Number of Options,Options exercisable	5,537,474
Weighted- Average Exercise Price,Beginning	$ 6.64
Weighted- Average Exercise Price,End	6.64
Weighted- Average Exercise Price,Options exercisable	$ 6.64
Weighted- Average Remaining Contractual Term (Years)	13 years 6 months 3 days	14 years 3 days
Weighted- Average Remaining Contractual Term (Years),Options exercisable	13 years 6 months 3 days
Aggregate Intrinsic Value,Beginning	$ 6,961

Stock-Based Compensation - Additional Information (Detail) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended			12 Months Ended
	Jan. 31, 2022 shares	Jun. 30, 2022 USD ($) shares	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) € / shares shares	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2021 USD ($)	Dec. 31, 2021 shares
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Number of options outstanding, including both vested and non-vested options.		21,035,201		21,035,201	21,035,201
One to four year service period [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Number of options outstanding, including both vested and non-vested options.		16,203,479		16,203,479	16,203,479
Three To Four Year Service Period [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based payment arrangement, Options expected to vest outstanding		2,908,034		2,908,034	2,908,034
Three-Year Service Period [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based payment arrangement, Options expected to vest outstanding		601,556		601,556	601,556
Two Year Service Period
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based payment arrangement, Options expected to vest outstanding		200,000		200,000	200,000
One-Year Anniversary [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based payment arrangement, Options expected to vest outstanding		384,000		384,000	384,000
Service And Performance Based Options [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based payment arrangement, Options expected to vest outstanding		754,910		754,910	754,910
Other Subsidiaries Equity Plan
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Unrecognized stock based compensation compensation \| $		$ 8.2		$ 8.2	$ 8.2
Unrecognized stock based compensation compensation, Expected period of recognition					3 years
Share based compensation expenses \| $		$ 0.2	$ 0.2		$ 0.4	$ 0.4
Service And Performance Based Options [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based payment arrangement, Options expected to vest outstanding		754,910		754,910	754,910
Specified Performance Based Vesting [Member] \| Three-Year Service Period [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based payment arrangement, Options expected to vest outstanding		584,778		584,778	584,778
HSOP Plan[Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based payment arrangements, Award vesting rights percentage						25.00%	12.50%
Unrecognized stock based compensation compensation \| $		$ 5.6		$ 5.6	$ 5.6
Unrecognized stock based compensation compensation, Expected period of recognition					9 months 18 days
Employee stock ownership plan, Number of shares available for future issuance		132,752		132,752	132,752
Employee stock ownership plan, Weighted average purchase price of shares \| € / shares				$ 0.06
Employee stock ownership plan, Employer loan guarantee \| $		$ 0.5		$ 0.5	$ 0.5
Share based payment arrangement, Shares issued in period							7,281,376
Share based compensation expenses \| $		$ 1.2	16.7		$ 2.5	$ 16.7
Two Thousand And Twenty Incentive Plan [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Shares reserved for future issuance		22,658,192		22,658,192	22,658,192
Share based payment arrangement, Options expected to vest outstanding		7,930,027		7,930,027	7,930,027
Unrecognized stock based compensation compensation \| $		$ 87.5		$ 87.5	$ 87.5
Unrecognized stock based compensation compensation, Expected period of recognition					2 years 1 month 9 days
Share based compensation expenses \| $		$ 8.1	$ 20.6		$ 16.7	$ 20.6
Number of options outstanding		0		0	0
Weighted average grant-date fair value of options granted \| $ / shares					$ 3.48
Common stock, for issuance to executive officers	8,033,850				46,738,794
Two Thousand And Twenty Incentive Plan [Member] \| One-Year Anniversary [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based payment arrangement, Options expected to vest outstanding		384,000		384,000	384,000
Two Thousand And Twenty One Incentive Award Plan [Member]
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Number of options outstanding		34,131,065		34,131,065	34,131,065

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating Loss Carryforwards [Line Items]
Provision for income taxes	$ 51,000	$ 58,000	$ 92,000	$ 64,000

- Definition

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

+ References + Details

Net Loss Per Share - Summary of Basic and Diluted Net Loss Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net loss	$ (37,509)	$ (53,373)	$ (75,067)	$ (49,329)
Net loss attributable to redeemable noncontrolling interests and noncontrolling interests	(891)	(4,912)	(1,580)	(1,556)
Net loss attributable to ATAI Life Sciences N.V. shareholders - basic	(36,618)	(48,461)	(73,487)	(47,773)
Net loss attributable to ATAI Life Sciences N.V. shareholders - diluted	$ (36,618)	$ (48,461)	$ (73,487)	$ (47,773)
Denominator:
Weighted average common shares outstanding attributable to ATAI Life Sciences N.V. Stockholders - basic	153,971,202	132,265,075	153,751,456	125,797,732
Weighted average common shares outstanding attributable to ATAI Life Sciences N.V. stockholders - diluted	153,971,202	132,265,075	153,751,456	125,797,732
Net loss per share attributable to ATAI Life Sciences N.V. stockholders - basic	$ (0.24)	$ (0.37)	$ (0.48)	$ (0.38)
Net loss per share attributable to ATAI Life Sciences N.V. stockholders - diluted	$ (0.24)	$ (0.37)	$ (0.48)	$ (0.38)

Net Loss Per Share - Schedule of Computation of Diluted net Income (Loss) Per Share Attributable to Common Shareholders (Detail) - shares	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	51,019,091	47,079,369
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	34,410,771	23,797,993
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	7,046,496	7,281,376
2018 Convertible Promissory Notes - Related Parties (Note 10)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	9,561,824	16,000,000

Net Loss Per Share - Additional Information (Detail) - shares		3 Months Ended	6 Months Ended
	Jun. 07, 2021	Jun. 30, 2022	Jun. 30, 2022
Net Income (Loss) Per Share [Line Items]
Common stock, Conversion basis	1.6 to one		1 to 10 basis
Common Stock [Member]
Net Income (Loss) Per Share [Line Items]
Stock issued during period, convertible share		960,000
2018 Convertible Promissory Notes - Related Parties (Note 10) \| Common Stock [Member]
Net Income (Loss) Per Share [Line Items]
Stock issued during period, convertible share			597,614
Common stock, Conversion basis			one-for-sixteen

Commitments and Contingencies (Additional Information) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Lease payments	$ 1.8

License Agreements - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Dec. 10, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Jan. 31, 2022	Dec. 31, 2021	Jun. 30, 2020
License Agreements [Line Items]
Research and development expenses				$ 357	$ 8,934
ATAI Kures Inc. [Member] \| License Agreement Terms [Member]
License Agreements [Line Items]
Percentage of the common stock shares outstanding		5.00%		5.00%				5.00%
Otsuka Agreement [Member]
License Agreements [Line Items]
Revenue recognized upon performance obligation satisfied					19,700
Otsuka Agreement [Member] \| Research And Development Services [Member]
License Agreements [Line Items]
Contract with customer liability, revenue recognized				$ 200
Columbia Stock Purchase and License Agreement [Member]
License Agreements [Line Items]
Material Payment			$ 0		0
Columbia Stock Purchase and License Agreement [Member] \| ATAI Kures Inc. [Member]
License Agreements [Line Items]
Research and development expenses		$ 300
Accelerate License Agreement [Member]
License Agreements [Line Items]
Material Payment		0	0	0	0
CHIBA License [Member]
License Agreements [Line Items]
Material Payment		0	0	0	0
Allergan License Agreement [Member]
License Agreements [Line Items]
Material Payment		0	$ 0	0	$ 0
Dalriada License Agreement [Member]
License Agreements [Line Items]
Research and development expenses		1,400		1,800
Service fees	$ 12,800
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
Otsuka [Member] \| Otsuka Agreement [Member]
License Agreements [Line Items]
Performance obligation							$ 20,000
Otsuka [Member] \| Otsuka Agreement [Member] \| Outset Of The Otsuka Agreement [Member]
License Agreements [Line Items]
Performance obligation		20,000		20,000
Otsuka [Member] \| Commercial Milestones [Member] \| Otsuka Agreement [Member]
License Agreements [Line Items]
Milestone payments, receivable		66,000		66,000
Otsuka [Member] \| Development And Regulatory Milestones [Member] \| Otsuka Agreement [Member]
License Agreements [Line Items]
Milestone payments, receivable		$ 35,000		$ 35,000

Related Party Transactions - Additional Information (Detail) $ / shares in Units, $ in Thousands		1 Months Ended					3 Months Ended			6 Months Ended
	Jun. 10, 2021 USD ($) shares	Mar. 31, 2021 USD ($) shares	Jan. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($) shares	Mar. 31, 2021 USD ($) shares	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 € / shares	Jun. 30, 2022 $ / shares	Dec. 31, 2021 € / shares	Dec. 31, 2021 $ / shares	Jun. 07, 2021 € / shares	Mar. 31, 2021 € / shares	Mar. 31, 2021 $ / shares	Feb. 28, 2021 USD ($)	Dec. 01, 2020 USD ($)
Related Party Transaction [Line Items]
Equity method investment, ownership percentage												80.00%	80.00%	80.00%	80.00%
Personal payroll and income taxes receivable																			$ 800
Issuance of common shares, net of issuance costs								$ 231,581	$ 23,510
Issuance of common stock shares par value \| (per share)												€ 0.10	$ 0.12	€ 0.10	$ 0.12	€ 0.10
Proceeds from issuance of common stock										$ 0	$ 409,884
Stock issued during period, Value								231,581	$ 23,510
Percentage of common stock reserved					27.00%
General and administrative expense							$ 17,221	37,331		35,203	46,604
Perception December Two Thousand Twenty Convertible Note Agreement [Member]
Related Party Transaction [Line Items]
Debt instrument, face amount																				$ 12,000
Proceeds from licensing and collaboration arrangement	$ 20,000
Series A Preferred Stock [Member] \| Perception December Two Thousand Twenty Convertible Note Agreement [Member]
Related Party Transaction [Line Items]
Convertible notes conversion, shares issued \| shares	6,456,595
General and Administrative Expense [Member]
Related Party Transaction [Line Items]
stock-based compensation							200	$ 300		400	$ 300
Common Stock [Member]
Related Party Transaction [Line Items]
Issuance of common shares, net of issuance costs ,Shares \| shares		13,419,360						17,250,000	15,552,688
Issuance of common shares, net of issuance costs								$ 2,046	$ 1,881
Sale of stock issue price per share \| (per share)																	€ 9.69	$ 11.71
Stock issued during period, Value								$ 2,046	$ 1,881
Issuance Of Common Shares [Member] \| SMC advisory agreements [Member] \| Common Stock [Member]
Related Party Transaction [Line Items]
Advisory fees										4,500
Sonia Weiss Pick And Family [Member] \| Issuance Of Convertible Notes [Member] \| Perception Note Purchase Agreement [Member]
Related Party Transaction [Line Items]
Proceeds from related party debt						$ 3,300
Founder [Member]
Related Party Transaction [Line Items]
Equity method investment, ownership percentage												17.90%	17.90%	18.00%	18.00%
Galaxy NYC Based Multi Strategy Investment Firm [Member]
Related Party Transaction [Line Items]
Equity method investment, ownership percentage												6.70%	6.70%	6.70%	6.70%
Perception [Member] \| Issuance Of Convertible Notes [Member] \| First Tranche [Member]
Related Party Transaction [Line Items]
Proceeds from related party debt				$ 7,000
Perception [Member] \| Issuance Of Convertible Notes [Member] \| Second Tranche [Member]
Related Party Transaction [Line Items]
Proceeds from related party debt										5,000
Perception [Member] \| Company And Other Investors [Member] \| Issuance Of Convertible Notes [Member]
Related Party Transaction [Line Items]
Debt instrument, face amount				12,000
Perception [Member] \| Company And Other Investors [Member] \| Issuance Of Convertible Notes [Member] \| Perception Note Purchase Agreement [Member]
Related Party Transaction [Line Items]
Debt instrument, face amount						3,900
Perception [Member] \| Company [Member] \| Issuance Of Convertible Notes [Member] \| First Tranche [Member]
Related Party Transaction [Line Items]
Proceeds from related party debt				5,800
Perception [Member] \| Company [Member] \| Issuance Of Convertible Notes [Member] \| Second Tranche [Member]
Related Party Transaction [Line Items]
Proceeds from related party debt										4,200
Perception [Member] \| Sonia Weiss Pick And Family [Member] \| Issuance Of Convertible Notes [Member] \| First Tranche [Member]
Related Party Transaction [Line Items]
Proceeds from related party debt			$ 500
Perception [Member] \| Sonia Weiss Pick And Family [Member] \| Issuance Of Convertible Notes [Member] \| Second Tranche [Member]
Related Party Transaction [Line Items]
Proceeds from related party debt										300
Perception [Member] \| Sonia Weiss Pick And Family [Member] \| Issuance Of Convertible Notes [Member] \| Perception Note Purchase Agreement [Member]
Related Party Transaction [Line Items]
Proceeds from related party debt						300
Perception [Member] \| Other Investors [Member] \| Issuance Of Convertible Notes [Member] \| First Tranche [Member]
Related Party Transaction [Line Items]
Proceeds from related party debt			100
Perception [Member] \| Other Investors [Member] \| Issuance Of Convertible Notes [Member] \| Second Tranche [Member]
Related Party Transaction [Line Items]
Proceeds from related party debt										400
Perception [Member] \| Other Investors [Member] \| Issuance Of Convertible Notes [Member] \| Perception Note Purchase Agreement [Member]
Related Party Transaction [Line Items]
Proceeds from related party debt						$ 300
Perception [Member] \| Apeiron Related Party [Member] \| Issuance Of Convertible Notes [Member] \| First Tranche [Member]
Related Party Transaction [Line Items]
Proceeds from related party debt			200
Perception [Member] \| Apeiron Related Party [Member] \| Issuance Of Convertible Notes [Member] \| Second Tranche [Member]
Related Party Transaction [Line Items]
Proceeds from related party debt										200
Perception [Member] \| Other Investors Related To Company [Member] \| Issuance Of Convertible Notes [Member] \| First Tranche [Member]
Related Party Transaction [Line Items]
Proceeds from related party debt				$ 400
Presight Roman Two LP [Member] \| Issuance Of Common Shares [Member] \| Common Stock [Member]
Related Party Transaction [Line Items]
Issuance of common shares, net of issuance costs		$ 13,900
Stock issued during period, Value		13,900
Apeiron [Member]
Related Party Transaction [Line Items]
Proceeds from issuance of common stock			$ 12,200
Apeiron [Member] \| Series A Preferred Stock [Member] \| Perception December Two Thousand Twenty Convertible Note Agreement [Member]
Related Party Transaction [Line Items]
Convertible notes conversion, shares issued \| shares	27,809
Apeiron [Member] \| Common Stock [Member]
Related Party Transaction [Line Items]
Issuance of common shares, net of issuance costs ,Shares \| shares			2,133,328
Issuance of common shares, net of issuance costs					$ 10,500
Stock issued during period, Value					$ 10,500
Apeiron [Member] \| Issuance Of Common Shares [Member] \| Common Stock [Member]
Related Party Transaction [Line Items]
Issuance of common shares, net of issuance costs		14,500
Stock issued during period, Value		$ 14,500
Apeiron [Member] \| Issuance Of Common Shares [Member] \| SMC advisory agreements [Member] \| Common Stock [Member]
Related Party Transaction [Line Items]
Advisory fees			$ 3,700
Mr Angermayer [Member] \| Consulting Agreement [Member]
Related Party Transaction [Line Items]
General and administrative expense							$ 200			$ 300
Mr Angermayer [Member] \| Consulting Agreement [Member] \| Two Thousand And Twenty Incentive Plan [Member]
Related Party Transaction [Line Items]
Stock issued during period, share based payments \| shares		624,000
Sonia Weiss Pick And Family [Member] \| Series A Preferred Stock [Member] \| Perception December Two Thousand Twenty Convertible Note Agreement [Member]
Related Party Transaction [Line Items]
Convertible notes conversion, shares issued \| shares	440,415

Subsequent Events - Additional Information (Detail) € / shares in Units, $ / shares in Units, $ in Thousands, € in Millions			1 Months Ended	6 Months Ended
	Jul. 31, 2022 EUR (€) € / shares	Jul. 31, 2022 USD ($)	Aug. 31, 2022 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jun. 30, 2021 € / shares	Jun. 30, 2021 $ / shares
Deposit paid				$ 3,828	$ 2,692
Debt conversion price \| (per share)						€ 1,350	$ 1,654
Hercules
Tranche of the Term Loan				The first tranche of the Term Loan was funded upon closing in August 2022 and the remaining loan amount is available at the Company’s discretion through August 1, 2026 (“Maturity Date”), except in the case of certain tranches, which are subject to achievement of certain performance milestones or approvals, as applicable.
Hercules \| Subsequent Event [Member]
Principal Amount			$ 175,000
Minimum [Member] \| Hercules \| Subsequent Event [Member]
Term Loan Maturity			48 months
Maximum [Member] \| Hercules \| Subsequent Event [Member]
Term Loan Maturity			54 months
2018 Convertible Notes [Member] \| Subsequent Event [Member]
Debt conversion price \| € / shares	€ 17.00
Aggregate Amount of Notes Conversion	€ 3.6	$ 3,600