Atai life sciences reports second quarter 2022 financial results & business update

- added an anticipated additional year of runway into 2025 through securing non-dilutive debt facility from hercules combined with execution of cost optimizations by prioritizing atai's development programs with anticipated meaningful near-term clinical value inflections - key achieved r&d milestones include completion of the clinical phase of the drug-drug-interaction (ddi) study of pcn-101, database lock for the grx-917 phase 1 trial, completion of sad portion of ongoing kur-101 phase 1 trial, and initiation of vls-01 phase 1 trial - non-dilutive financing facility of up to $175m, plus $312m existing cash on hand as of june 30, 2022, gives atai access to up to $487m to continue developing next generation mental health treatments
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