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Mar 31, 2023
Atai Q1 2023 Earnings Report
Atai reported first quarter 2023 financial results and provided corporate updates.
Key Takeaways
Atai Life Sciences reported a net loss of $33.1 million for the first quarter of 2023. The company's cash and cash equivalents totaled $249.9 million as of March 31, 2023, which is expected to fund operations into 1H 2026.
First patient dosed in the Phase 2b study of RL-007 in Cognitive Impairment Associated with Schizophrenia.
Presented PD data from the completed Phase 1 study of GRX-917, suggesting potential anxiolytic effects without significant sedative effects.
VLS-01 was well-tolerated in Parts 1 and 2 of the ongoing Phase 1 study, with an amended protocol to expand into Part 3 to optimize PK and PD.
Acceleration of the Pivotal Trial 1 (COMP 005) part of the Phase 3 program in TRD, with topline data now expected in the summer of 2024.
Forward Guidance
The Company expects its cash position and committed term loan funding will be sufficient to fund operations into 1H 2026.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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