Clinical-stage psychedelics company atai Life Sciences N.V. (NASDAQ: ATAI) reported its financial results for the quarter ended September 30, 2022 and shared business developments.

Numbers show the company ended Q3 2022 with a cash position of $304.1 million, which combined with committed funding from the Hercules loan facility, is anticipated to provide a cash runway until 2025.

End of the period total cash compares to the $362.3 million position on December 31, 2021, a net decrease atai reported as due to operating activities -$73.9 million- and additional investments in platform companies -$3.6 million-, net of $15 million draw on the Hercules debt, $4.6 million from the conversion of notes, and $2.8 million from stock option exercises and equity issuance.

R&D expenses went up, totaling $19.0 million and $52.4 million for the three and nine months ended September 30, 2022, respectively, compared to …

Full story available on Benzinga.com