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Atai Life Sciences Q4 And Full-Year 2023 Results: Steep Cash Drain Yet 2026 Target Remains, Update On Psychedelic Pipeline

Benzinga ·  Mar 29 09:20

Clinical-stage psychedelics biotech Atai Life Sciences (NASDAQ:ATAI) announced its consolidated financial results for the fourth quarter and full year 2023.

The Numbers:

  • Cash, cash equivalents and short-term investments of $154.2 million by December 31, 2023, as compared to $273.1 million by December 31, 2022.
  • Quarterly and full-year R&D expenses of $14.2 million and $62.2 million, respectively, as compared to $21.9 million and $74.3 million for the same periods in 2022.
  • Quarterly and full-year General and Administrative (G&A) expenses of $19.4 million and $63.6 million, respectively, as compared to $15.7 million and $70.4 million in the same periods in 2022.
  • Quarterly and full-year net loss of $18.3 million and $40.2 million, respectively...
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