Loading...
•
Mar 31, 2024
Atai Q1 2024 Earnings Report
Atai reported first quarter 2024 financial results and corporate updates.
Key Takeaways
Atai Life Sciences reported a net loss of $26.7 million for the first quarter of 2024, compared to a net loss of $33.1 million for the same period in 2023. The company's cash, marketable securities, and committed term loan funding are expected to fund operations into 2026. Atai is also undergoing a leadership transition with Florian Brand stepping down as CEO and Srinivas Rao to take over.
First participant dosed in Phase 1b trial of VLS-01 with data expected in 2H’24.
Beckley Psytech’s Phase 2a study of BPL-003 in TRD patients showed rapid and durable antidepressant effects; Phase 2b topline data expected in 2H’24.
Compass Pathways’ Phase 2 study of COMP360 in PTSD patients demonstrated durable improvement in symptoms; Phase 3 data of COMP360 in TRD patients expected in 4Q’24.
Co-Founder Florian Brand to step down as CEO as part of a planned transition by YE’24 and to be succeeded by Co-Founder and current Chief Scientific Officer Srinivas Rao, M.D., Ph.D.
Forward Guidance
The Company expects its cash, marketable securities and committed term loan facility with Hercules Capital, Inc. to be sufficient to fund operations into 2026.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...