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Mar 31, 2022
Atai Q1 2022 Earnings Report
Atai Life Sciences reported financial results and business update for Q1 2022.
Key Takeaways
Atai Life Sciences reported a net loss attributable to shareholders of $36.9 million for the three months ended March 31, 2022. The company ended the quarter with $335 million in cash and cash equivalents.
First subject dosed in Phase 1 KUR-101.
Launched drug discovery engine Invyxis.
Initiated Psyber usability study in patients.
COMPASS' end of Phase 2 FDA meeting.
Forward Guidance
The company anticipates several clinical milestones in 2022 and beyond, including data from the Phase 2 proof-of-concept study of PCN-101 as a potential at-home-use therapy in treatment resistant depression (TRD).
Positive Outlook
- Results from a relative bioavailability study comparing subcutaneous formulation of PCN-101 to existing IV formulation.
- Additional Phase 1 readouts, including GRX-917, DMX-1002, and KUR-101.
- Phase 2 trial initiations for GRX-917 and RL-007.
- Phase 1 initiations for EMP-01 and VLS-101 during 2022.
- RLS-01 in the first half of 2023.
Historical Earnings Impact
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