Wed, May 15, 11:55 AM (72 days ago)
For the quarter ended March 31, 2024, ATAI Life Sciences N.V. reported a net loss of $26.7 million, an improvement from the $33.1 million loss in the same period last year. The company has an accumulated deficit of $577.7 million. Research and development expenses were $11.5 million, down from $19.3 million in Q1 2023, reflecting strategic prioritization of clinical programs. General and administrative expenses were $12.6 million, slightly down from $14.0 million in the prior year. Cash and cash equivalents stood at $18.9 million, with short-term securities at $87.4 million, indicating sufficient liquidity for at least the next 12 months. ATAI's restructuring efforts included a 10% workforce reduction, incurring $1.9 million in restructuring costs. The company continues to focus on advancing its clinical pipeline, including VLS-01, BPL-003, and COMP360, with significant milestones expected in 2024. Future operations will depend on additional funding through equity offerings, debt financings, or strategic collaborations.