atai Life Sciences Advances Psychedelic Therapy Pipeline with Key Clinical Milestones and Extended Financial Runway
• atai Life Sciences has dosed the first patient in its Phase 2 Elumina trial of VLS-01 (buccal film DMT) for treatment-resistant depression, with topline data expected in Q1 2026.
• The company initiated a Phase 2 trial of EMP-01 (oral R-MDMA) for social anxiety disorder and completed enrollment in Beckley Psytech's Phase 2b study of BPL-003 for treatment-resistant depression.
• A recent equity offering raised $59.2 million, extending atai's operational runway into 2027, well beyond anticipated data readouts from its core clinical programs.
ATAI Life Sciences Reports Positive Q3 2023 Financials and Advances Clinical Pipeline
• ATAI Life Sciences reported a net income of $44.2 million for Q3 2023, a significant increase compared to the previous year, driven by non-cash gains.
• R&D and G&A expenses decreased year-over-year, reflecting a streamlined approach to clinical program costs and administrative efficiencies.
• The company's current cash reserves, combined with committed funding, are projected to sustain operations into the first half of 2026.
• Key pipeline programs, including RL-007 for CIAS and VLS-01 for TRD, are progressing, with Phase 2b readout of RL-007 anticipated in H2 2024.
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