The biotech has been hit harder than any other industry over the last 18 months, but this could be the same industry that pulls North America out of a recession. Today, we sit with atai Life Sciences (NASDAQ: ATAI) founder Christian Angermayer. On this episode of The Dales Report, Angermayer tells us how the current share price of atai could be a 20 to 30x opportunity in the next three to five years.
Here’s some highlights from the interview.
Angermayer doesn’t just promote mental health through atai, he’s also founder of a nonprofit, Aurora Institute
With two friends of his, Angermayer started Aurora, a breakthrough nonprofit, nonpartisan organization bringing together the world’s leaders at the forefront of technology, science, art, fashion and philanthropy, to improve mental health globally.
It’s not a simple problem, dealing with mental health. In fact, he likens it more to being a puzzle. Angermayer believes that for-profit companies like atai can and should help contribute their pieces to the puzzle, but there are many nonprofit initiatives setting out to cure mental health issues, and to also start earlier, helping people avoid them in the first place. These deserve attention, Angermayer says. Attention, recognition, but especially money.
The purpose of Aurora is to help them with the fundraising. Angermayer wants Aurora to take existing initiatives, and help highlight and promote them.
Biotech industry is ‘one of the biggest opportunities’ in a long time
Angermayer believes Cathie Wood gets a certain amount of critique simply because she’s a woman, and not a man, in a male-dominated investment world. But he respects her convictions and her ‘amazing personality.’ There’s been criticism over some of her investments and how her ETF is performing. However, it seems that many of these criticisms are short sighted, and not at all keyed to her strategy, which seems to be on the industries being there for the next ten years.
On the whole, Angermayer believes the biotech sector is one of the biggest opportunities he has seen in a long time. The reason? Because ‘it’s wrong.’
Atai has more than 10 clinical trials in the works. These aren’t early-stage trials for atai, says Angermayer, which might see results in a decade. He expects some results as early as December. Atai is also sitting on 350m in cash and has a stake in Compass. Weighed with some of the potential outcomes, atai and other companies in the industry could be seriously undervalued.
Any one of the drugs being trialed against any form of mental health issue will be a multi billion dollar drug on day one, simply because the market is so big, he adds. Beyond atai, Angermayer has invested in biotech for 20 years, and he doesn’t see any reason why in 5 or 6 years from now there wouldn’t be multiple drugs approved. Watch the full interview to learn more about Aurora, some of the big names that have become involved with the nonprofit, and more on what the industry should perform like, right here on The Dales Report