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Atai Life Sciences reports Q1 EPS (17c), consensus (18c)

As of March 31 the Company had cash, cash equivalents, restricted cash and short-term investments of $121.3M compared to $154.2M as of December 31, 2023. The decrease of $32.9M was primarily driven by $22.6M net cash used in operating activities and $10M for the Beckley Psytech investment. The Company expects its cash, marketable securities and committed term loan facility with Hercules Capital to be sufficient to fund operations into 2026.

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