ATAI Life Sciences(ATAI) GlobeNewswire·2025-03-17 12:00Core Insights - atai Life Sciences has initiated the Phase 2 Elumina trial for VLS-01, a buccal film formulation of DMT aimed at treating treatment-resistant depression, with topline data expected in Q1 2026 [1][5] - The company is in a strong financial position following a recent capital raise, extending its operational runway into 2027, which aligns with anticipated data readouts from its core programs [2][6] - Key upcoming milestones include topline results from Beckley Psytech's BPL-003 and RL-007 trials, both expected in mid-2025 [2][4] Clinical Highlights - VLS-01 is designed for treatment-resistant depression and has begun a Phase 2 trial, with data expected in Q1 2026 [5] - EMP-01, an oral formulation of R-MDMA for social anxiety disorder, has also entered a Phase 2 trial, with topline data anticipated in Q1 2026 [4][5] - BPL-003, targeting treatment-resistant depression and alcohol use disorder, has completed enrollment for its Phase 2b study, with results expected in mid-2025 [4][5] Financial Overview - As of December 31, 2024, the company reported cash and equivalents of 154.2 million a year prior, primarily due to operating cash outflows [6] - Research and development expenses for 2024 were 62.2 million in 2023, attributed to reduced personnel-related costs [7] - General and administrative expenses also decreased to 63.6 million in 2023, mainly due to lower personnel and professional service costs [8] Net Income and Loss - The net loss attributable to shareholders for 2024 was 40.2 million in 2023, influenced by non-cash adjustments [9] - The net loss per share for 2024 was 0.25 in the previous year [9][15] Company Mission and Pipeline - atai Life Sciences focuses on developing effective mental health treatments, with a pipeline that includes psychedelic-based therapies for various mental health conditions [10] - The company aims to integrate its therapies into healthcare systems, addressing the complexities of mental health treatment [10]