Ketamine therapy provider Field Trip Health & Wellness Ltd. (OTCQB:FTHWF) shared its Q3 2023 results for three and nine months ended Dec. 31, 2022 and some of the period's highlights.
Financials:
-
As of Dec. 31, the company held $4.9 (CA$6.7) million in cash and cash equivalents. On March 31, that number was $1.5 million.
-
Revenue from patient services of $1.2 (CA$1,6) million and $3.9 million for the three and nine months ended Dec. 31, 2022, with increases of 19% and 69% as compared to the $1 million and $2.3 million income for the same periods ended Dec. 31, 2021.
-
Total operating expenses of $6.0 million and $25.9 million for the three and nine months ended Dec. 31, 2022, somewhat constant regarding the $7.1 million and $22.8 million spent in the same periods in 2021.
-
Net loss of $5.1 million (or $0.06 per share) and $21.7 million (or $0.31 per share) for the three and nine months ended Dec. 31, 2022 as compared to $6.5 million (or $0.13 per share) and $21.1 million (or $0.43 per share) for the same periods in 2021.
The comparatively higher revenues due to operations are not enough to meet or surpass expenses, which the company acknowledged along with a total deficit of $35.1 million since its inception.
Field Trip stated that it expects to incur further losses while developing its business, all of which creates "a material uncertainty that may cast significant doubt about the company's ability to continue as a going concern."
The company formed an independent committee (IC) of the directors' board in Dec. 2022 to strategically tackle issues like how capital market conditions make additional funding difficult, ongoing fixed costs regarding brick-and-mortar locations and the pause of its hybrid in-clinic/virtual program following telehealth's federal regulatory changes.
See also: 'Sea Change': Irwin Naturals, Numinus And Field Trip Discuss Psychedelics At Cantor Webinar
In Jan. 2023, the IC engaged a third-party consultant to review operations and assess alternate routes including further cost reductions, restructuring, subleasing or closing clinic locations and setting lease obligations.
Photo courtesy of Pexels.
氯胺酮治療提供商field Trip Health&Wellness Ltd.(OTCQB：FTHWF)分享了截至2022年12月31日的三個月和九個月的2023年第三季度業績和一些亮點。
財務數據：
截至12月31日，該公司持有490萬美元(合670萬加元)的現金和現金等價物。3月31日，這一數位為150萬美元。
截至2022年12月31日的三個月和九個月，來自患者服務的收入分別為120萬美元(160萬加元)和390萬美元，與截至2021年12月31日的100萬美元和230萬美元的同期收入相比，分別增長了19%和69%。
截至2022年12月31日的三個月和九個月的總運營支出分別為600萬美元和2590萬美元，與2021年同期的710萬美元和2280萬美元相比略有不變。
截至2022年12月31日的三個月和九個月，淨虧損510萬美元(或每股0.06美元)和2170萬美元(或每股0.31美元)，而2021年同期為650萬美元(或每股0.13美元)和2110萬美元(或每股0.43美元)。
運營帶來的相對較高的收入不足以滿足或超過支出，該公司承認，自成立以來，該公司總共出現了3510萬美元的赤字。
Field Trip表示，它預計在發展業務的過程中會出現進一步的虧損，所有這一切都會造成“重大不確定性，可能會讓人對該公司作為一家持續經營企業的持續經營能力產生重大懷疑。”
該公司於2022年12月成立了一個獨立的董事會委員會(IC)，從戰略上解決資本市場狀況如何導致額外融資困難、實體地點的持續固定成本以及遠端醫療聯盟監管改革後暫停其診所/虛擬混合計劃等問題。
另見：《滄桑巨變》：爾文·納圖拉斯、努米努斯和實地考察在康託網路研討會上討論迷幻藥
2023年1月，IC聘請了第三方顧問來審查運營並評估替代路線，包括進一步降低成本、重組、轉租或關閉診所地點，以及設定租賃義務。
照片由Pexels提供。
