Strong progress across PureTech's portfolio, with significant near-term catalysts Robust shareholder returns enabled by Founded Entity1 monetization; $100 million Tender Offer and $50 million buyback completed Strong balance sheet with expected operational runway for at least three years Company to host a webcast and conference call today at 9:00am EDT / 2:00pm BST PureTech Health plc (NASDAQ:PRTC, LSE: PRTC))) ("PureTech" or the "Company"), a clinical-stage biotherapeutics company dedicated to changing the lives of patients with devastating diseases, today announces its half-yearly results for the six months ended June 30, 2024. The following information will be filed on Form 6-K w
Virtual Therapeutics, a company focused on improving mental health at scale using engaging, immersive games ("Virtual Therapeutics"), today announced that it has successfully completed the tender offer commenced on June 3, 2024, to acquire all outstanding shares of common stock of Akili, Inc. (NASDAQ:AKLI) ("Akili") for $0.4340 per share (the "Offer Price"). The tender offer expired at one minute after 11:59 p.m. EDT on July 1, 2024 (the "Expiration Date"). As of the Expiration Date, a total of 69,674,538 shares, representing approximately 88.2% of the outstanding shares of common stock of Akili, were validly tendered and not validly withdrawn. The number of shares validly tendered in acc
Clinically proven to improve attention function, EndeavorOTCⓇ is the first and only digital therapeutic cleared by FDA as an over-the-counter treatment for adults with ADHD Akili, Inc. (NASDAQ:AKLI), a leading digital therapeutics company, today announced U.S. Food and Drug Administration (FDA) clearance of EndeavorOTCⓇ (AKL-T01) as an over-the-counter treatment for adults with attention-deficit/hyperactivity disorder (ADHD). Delivered through an engaging video game experience, EndeavorOTC is indicated to improve attention function as measured by computer-based testing in men and women with primarily inattentive or combined-type ADHD, who have a demonstrated attention issue. EndeavorOTC i
Akili to operate as wholly owned subsidiary of Virtual Therapeutics PureTech Health plc (NASDAQ:PRTC, LSE: PRTC))) ("PureTech" or the "Company"), a clinical-stage biotherapeutics company, noted today that its Founded Entity, Akili, Inc. (NASDAQ:AKLI), a leading digital therapeutics company, and Virtual Therapeutics, a company focused on improving mental health at scale using engaging, immersive games, announced the signing of a definitive merger agreement to form a diversified, leading digital health company. As of May 7, 2024, PureTech owned 12,527,477 of the outstanding shares of Akili common stock. The full text of the announcement from Akili and Virtual Therapeutics is as follows:
Akili to operate as wholly owned subsidiary of Virtual Therapeutics Virtual Therapeutics, a company focused on improving mental health at scale using engaging, immersive games, and Akili, Inc. (NASDAQ:AKLI), a leading digital therapeutics company, today announced the signing of a definitive merger agreement to form a diversified, leading digital health company. Under the terms of the agreement, Akili shareholders will receive $0.4340 per share of common stock in cash. The per share purchase price represents an approximately 4% premium to Akili's closing stock price on May 28, 2024 and an approximately 85% premium to Akili's closing price on April 29, 2024, the last trading day prior to
Company announces full voluntary prepayment of debt and termination of Amended & Restated Loan and Security Agreement with Silicon Valley Bank Following recent restructuring, focusing efforts primarily on supporting existing customers, executing the amended agreement with Shionogi, and evaluating potential strategic alternatives Akili, Inc. (NASDAQ:AKLI), a leading digital medicine company, today reported its financial results for the quarter ended March 31, 2024 and provided an update on business progress. As announced in late April 2024, the Company's board of directors has initiated a process that is currently ongoing to evaluate potential strategic alternatives to maximize shareho
Shionogi amendment provides Akili with near-term cash payments and cancellation of debt obligation Company announces exploration of strategic alternatives and associated workforce reduction Company to release first quarter 2024 financial results on May 14, 2024 Akili, Inc. (NASDAQ:AKLI), a leading digital medicine company, today provided several corporate updates, including an amendment to its strategic distribution agreement with Shionogi & Co., Ltd. ("Shionogi"), a leading global pharmaceutical company. Under the terms of the amended agreement, Shionogi has canceled and forgiven a $5.0 million long-term debt obligation and agreed to make certain payments for SDT-001 (the Japanese, l
Significant operational and clinical progress in 2023 and early 2024 with maturation of Internal Programs,1 launch of two new Founded Entities,2 including a $100 million Series A financing for Seaport, and the $14 billion acquisition of Karuna by Bristol Myers Squibb Robust balance sheet with PureTech level cash, cash equivalents and short-term investments of $326.0 million3 and consolidated cash, cash equivalents and short-term Investments of $327.1 million4 as of December 31, 2023 As of March 31, 2024, PureTech level cash, cash equivalents and short-term investments were $573.3 million,5 enabling the support of Internal Programs and Founded Entities, future innovations, shareholder re
FY 2023 total revenues of $1.7M, a 420% increase over FY 2022 as EndeavorOTCⓇ gained traction in the market following June 2023 product release Reports fourth quarter 2023 total revenues of $749 thousand, representing 7% growth over the third quarter of 2023, and positive gross margins of 66%, representing a 6 percentage point increase over the third quarter of 2023 Akili partner Shionogi releases positive Phase 3 trial results and submits Akili's digital therapeutic SDT-001 for marketing approval in Japan Company lowers FY 2024 non-GAAP total operating expense guidance to between $38 million and $43 million and reaffirms gross margins guidance of 60-70% by late 2025; ends FY 2023 wit
Japanese Product Now Under Review for Nationwide Marketing Approval PureTech Health plc (NASDAQ:PRTC, LSE: PRTC))) ("PureTech" or the "Company"), a clinical-stage biotherapeutics company dedicated to changing the lives of patients with devastating diseases, noted that its Founded Entity Akili, Inc. (NASDAQ:AKLI) announced that its Japanese partner Shionogi & Co. Ltd has submitted Akili's digital therapeutic SDT-001 for marketing approval with the Ministry of Health, Labor, and Welfare. SDT-001 is the Japanese, localized version of Akili's AKL-T01 (marketed as EndeavorRx® in the United States), which has previously been authorized by the U.S. Food and Drug Administration (FDA) as the world
Co-founder and CEO Eddie Martucci, Ph.D. transitions to role of Board chair; Matt Franklin, president and chief operating officer of Akili, appointed president and chief executive officer Akili, Inc. (NASDAQ:AKLI), a leading digital medicine company, today announced that Eddie Martucci transitioned to the role of Board chair, and Matt Franklin has been appointed to serve as president and CEO of the company and as a member of its board of directors, effective October 5, 2023. Martucci replaces former Board chair, Chamath Palihapitiya, who has resigned from the Board, effective October 4, 2023. The leadership transition follows the company's announcement in September that it plans to shif
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Strong progress across PureTech's portfolio, with significant near-term catalysts Robust shareholder returns enabled by Founded Entity1 monetization; $100 million Tender Offer and $50 million buyback completed Strong balance sheet with expected operational runway for at least three years Company to host a webcast and conference call today at 9:00am EDT / 2:00pm BST PureTech Health plc (NASDAQ:PRTC, LSE: PRTC))) ("PureTech" or the "Company"), a clinical-stage biotherapeutics company dedicated to changing the lives of patients with devastating diseases, today announces its half-yearly results for the six months ended June 30, 2024. The following information will be filed on Form 6-K w
Shionogi amendment provides Akili with near-term cash payments and cancellation of debt obligation Company announces exploration of strategic alternatives and associated workforce reduction Company to release first quarter 2024 financial results on May 14, 2024 Akili, Inc. (NASDAQ:AKLI), a leading digital medicine company, today provided several corporate updates, including an amendment to its strategic distribution agreement with Shionogi & Co., Ltd. ("Shionogi"), a leading global pharmaceutical company. Under the terms of the amended agreement, Shionogi has canceled and forgiven a $5.0 million long-term debt obligation and agreed to make certain payments for SDT-001 (the Japanese, l
Plans to disclose Q4/FY 2023 financial results on February 29, 2024; CEO Matthew Franklin to participate in fireside chat at TD Cowen's 44th Annual Healthcare Conference on March 4, 2024 Appointed John Spinale to Board of Directors and Audit Committee; provides update regarding plans for April 17, 2024 Annual Meeting and efforts to regain compliance with Nasdaq rules Akili, Inc. (NASDAQ:AKLI), a leading digital medicine company, today provided several corporate updates, including that it plans to report fourth quarter and full year 2023 financial results and a business update via press release on Thursday, February 29, 2024 after the market closes. The company will not be hosting an ear
Reports third quarter total revenues of $702 thousand, representing more than 5x growth over the second quarter of 2023, and positive gross margins of ~60% in the quarter Company has filed EndeavorOTC with FDA as an over-the-counter treatment for adults with ADHD Akili, Inc. (NASDAQ:AKLI), a leading digital medicine company, today reported its financial results for the quarter ended September 30, 2023, and provided an update on business progress. "We are pleased with early results of our previously-announced strategic shift from a prescription to a non-prescription business model focused on EndeavorOTC. It's clear that there is strong demand from individuals struggling with ADHD, and
Akili, Inc. (NASDAQ:AKLI), a leading digital medicine company, will host a conference call and webcast to review its financial and operating results for the third quarter of 2023 on Thursday, November 9, 2023, at 4:30 p.m. ET. A live audio webcast of the conference call and presentation will be available at www.akiliinteractive.com under Investor Relations, Events & Presentations. An archived version of the webcast will be available on the company's website following the event. To access the call, dial 888 259 6580 (toll-free) or +1 206 962 3782 (international) and reference "Akili Third Quarter 2023 Earnings." About Akili Akili is pioneering the development of cognitive treatments
Non-prescription model will increase patient access to clinically-validated non-drug treatments and reduce Akili's reliance on intermediaries Continued growth in consumer demand and engagement for EndeavorOTC™ during its initial three months on the market affirms viability of consumer-led subscription model Leaner non-prescription operating model will support reduced operating expenses and headcount, extend cash runway into 2H 2025, and improve gross margin profile Akili, Inc. (NASDAQ:AKLI), a leading digital medicine company, today announced its strategic plan to transition from a prescription to a non-prescription business model. The company plans to pursue regulatory approval for o
Strong progression of PureTech's Wholly Owned Pipeline, with three clinical-stage therapeutic candidates being evaluated across four clinical trials to address large patient needs in pulmonary, oncology and CNS indications, and a growing pipeline of four additional preclinical CNS programs Advancements across Founded Entities, including Karuna's third positive registrational trial for KarXT and planned filing for FDA approval, Akili's commercial release of EndeavorOTCTM for adults with ADHD, Gelesis' application to make Plenity® available without a prescription, additional positive results from Vor's Phase 1/2a leukemia trial and Vedanta's $106.5 million financing PureTech plans to purs
EndeavorRxⓇ prescriptions in pediatric ADHD market grew 27% in Q2 2023 over Q1 2023 Company is preparing FDA submission for EndeavorOTCTM as over-the-counter treatment, following its June 2023 product release in the adult ADHD market Company reaffirms FY 2023 expense guidance of $55M - $60M of non-GAAP total operating expenses and cash runway into Q1 2025 Akili, Inc. (NASDAQ:AKLI), a leading digital medicine company, today reported its financial results for the quarter ended June 30, 2023, and provided an update on business progress. "We're seeing continued adoption of EndeavorRx in our initial pediatric market, and we are excited to have entered the sizable adult market with the in
Akili, Inc. (NASDAQ:AKLI), a leading digital medicine company, will host a conference call and webcast to review its financial and operating results for the second quarter of 2023 on Thursday, August 10, 2023, at 4:30 p.m. ET. A live audio webcast of the conference call and presentation will be available at www.akiliinteractive.com under Investor Relations, Events & Presentations. An archived version of the webcast will be available on the company's website following the event. To access the call, dial 888-886-7786 (toll-free) or +1 416-764-8658 (international) and reference "Akili Second Quarter 2023 Earnings." About Akili Akili is pioneering the development of cognitive treatments
EndeavorRxⓇ prescriptions for children with ADHD increased 32% in Q1 2023 over Q4 2022 Pivotal study in adults with ADHD showed significant improvements in attention and clinical outcomes, exceeding those observed in other age groups; Akili plans to include data in FDA regulatory submission later this year Akili, Inc. (NASDAQ:AKLI), a leading digital medicine company, today reported its financial results for the quarter ended March 31, 2023, and provided an update on business progress. "We're seeing steady, increasing uptake of EndeavorRx in the pediatric market," said Eddie Martucci, chief executive officer of Akili. "With the submission of our EndeavorRx adolescent label expansion d