Akili, Inc.: restructuring charge — Akili cuts workforce 30%, pauses adult ADHD trial, extends cash runway to Q1 2025

Akili, Inc.

Workforce reduced ~30% (46 employees); severance costs estimated $1.5-2.5M recorded in Q1 2023.
Pivotal adult ADHD trial (AKL-T01) enrollment stopped with 224 patients; data analysis ahead of schedule.
Company projects 2023 non-GAAP total operating expenses of $55-60M, excluding stock-based comp.
Cash runway extended to fund operations into Q1 2025.
Pipeline reprioritized: focus on commercial EndeavorRx; ASD, MS, MDD Q-Sub meetings not pursued to conserve cash.

item 2.05 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Akili, Inc. announced a restructuring with charges of approximately $1.5 – $2.5 million (approximately 30%).

Type: restructuring
Charge: approximately $1.5 – $2.5 million
Headcount: approximately 30%

Exact text from the filing

of 2023. Affected employees will be offered severance and other benefits, and the Company estimates that these severance and termination-related costs will be approximately $1.5 – $2.5 million and expects to record these charges in the first quarter of 2023. The Company also expects that payments of these costs will be made in the first quarter of 2023.

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Source: SEC EDGAR

accession 0001193125-23-006912

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