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SECURITIES AND EXCHANGE COMMISSION
☒ |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended June 30, 2021
☐ |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from
to
Commission File Number:
001-40493
(Exact name of registrant as specified in its charter)
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(State or other jurisdiction of incorporation or organization) |
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(I.R.S. Employer Identification No.) |
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ATAI Life Sciences N.V. c/o Mindspace |
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(Address of principal executive offices) |
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(Registrant’s telephone number, including area code)
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
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Common shares, par value €0.10 per share |
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The Nasdaq Stock Market LLC ( Nasdaq Global Market ) |
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☐
No☒
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation
S-T
(§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Yes☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
non-accelerated
filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule
12b-2
of the Exchange Act.
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Large accelerated filer |
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Accelerated filer |
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Non-accelerated filer |
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☒ |
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Smaller reporting company |
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Emerging growth company |
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule
12b-2
of the Exchange Act). Yes ☐ No
☒ As of
August 11,
2021, the registrant had
154,819,776 common shares, par value €0.10 per share, outstanding.
This Amendment No. 1 to the Quarterly Report on Form 10-Q/A (the “Amendment”) of ATAI Life Sciences N.V. (the “Company”) amends the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2021 (the “Original Filing”) which was filed with the Securities and Exchange Commission on August 16, 2021. The Company is filing this Amendment to file Exhibits 101 and 104 relating to inline XBRL requirements in accordance with Rule 405 of Regulation S-T, which had been omitted from the Original Filing in accordance with the 30-day grace period provided under Regulation S-T for the first quarterly period in which inline XBRL is required.
Additionally, in connection with the filing of this Amendment, the Company is including updated certifications from its chief executive officer and chief financial officer as required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002.
This Amendment does not reflect events occurring after the Original Filing. Except for the items described above, this Amendment continues to speak as of the date of the Original Filing, and does not modify, amend or update any other item or disclosures in the Original Filing.
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1 |
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2 |
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2 |
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2 |
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3 |
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4 |
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5 |
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6 |
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7 |
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51 |
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77 |
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78 |
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80 |
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81 |
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82 |
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83 |
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83 |
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83 |
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83 |
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85 |
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CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This Quarterly Report on Form 10-Q/A (this “Quarterly Report”) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this Quarterly Report other than statements of historical fact, including statements regarding our future operating results and financial position, the success, cost and timing of development of our product candidates, including the progress of preclinical and clinical trials, the commercialization of our current product candidates and any other product candidates we may identify and pursue, if approved, including our ability to successfully build a specialty sales force and commercial infrastructure to market our current product candidates and any other product candidates we may identify and pursue, the timing of and our ability to obtain and maintain regulatory approvals, our business strategy and plans, potential acquisitions, and the plans and objectives of management for future operations and capital expenditures, are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “could,” “would,” “project,” “plan,” “potentially,” “preliminary,” “likely,” and similar expressions are intended to identify forward-looking statements.
We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including without limitation: we are a clinical-stage biopharmaceutical company and have incurred significant losses since our inception, and we anticipate that we will continue to incur significant losses for the foreseeable future; we will require substantial additional funding to achieve our business goals, and if we are unable to obtain this funding when needed and on acceptable terms, we could be forced to delay, limit or terminate our product development efforts; our limited operating history may make it difficult to evaluate the success of our business and to assess our future viability; we have never generated revenue and may never be profitable; our product candidates contain controlled substances, the use of which may generate public controversy; clinical and preclinical development is uncertain, and our preclinical programs may experience delays or may never advance to clinical trials; we currently rely on qualified therapists working at third-party clinical trial sites to administer certain of our product candidates in our clinical trials and we expect this to continue upon approval, if any, of our current or future product candidate, and if third-party sites fail to recruit and retain a sufficient number of therapists or effectively manage their therapists, our business, financial condition and results of operations would be materially harmed; we cannot give any assurance that any of our product candidates will receive regulatory approval, which is necessary before they can be commercialized; research and development of drugs targeting the central nervous system, or CNS, is particularly difficult, and it can be difficult to predict and understand why a drug has a positive effect on some patients but not others; we face significant competition in an environment of rapid technological and scientific change; third parties may claim that we are infringing, misappropriating or otherwise violating their intellectual property rights, the outcome of which would be uncertain and may prevent or delay our development and commercialization efforts; a change in our effective place of management may increase our aggregate tax burden; we identified material weaknesses in connection with our internal control over financial reporting; and a pandemic, epidemic, or outbreak of an infectious disease, such as the
COVID-19
pandemic, may materially and adversely affect our business, including our preclinical studies, clinical trials, third parties on whom we rely, our supply chain, our ability to raise capital, our ability to conduct regular business and our financial results. Other risk factors include the important factors described in the section titled “Risk Factors” in our final prospectus dated June 17, 2021, filed with the Securities and Exchange Commission (“SEC”) pursuant to Rule 424(b) under the Securities Act, that may cause our actual results, performance or achievements to differ materially and adversely from those expressed or implied by the forward-looking statements.
Any forward-looking statements made herein speak only as of the date of this Quarterly Report, and you should not rely on forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, performance, or achievements reflected in the forward-looking statements will be achieved or will occur. Except as required by applicable law, we undertake no obligation to update any of these forward-looking statements for any reason after the date of this Quarterly Report on Form
10-Q
or to conform these statements to actual results or revised expectations.
Unless the context otherwise requires, all references in this Quarterly Report to “we,” “us,” “our,” “ATAI” or the “Company” refer to ATAI Life Sciences N.V. and its consolidated subsidiaries.
All reports we file with the SEC are available for download free of charge via the Electronic Data Gathering Analysis and Retrieval (EDGAR) System on the SEC’s website at www.sec.gov. We also make electronic copies of our reports available for download, free of charge, through our investor relations website at
as soon as reasonably practicable after filing such material with the SEC.
We may announce material business and financial information to our investors using our investor relations website at
. We therefore encourage investors and others interested in ATAI to review the information that we make available on our website, in addition to following our filings with the SEC, webcasts, press releases and conference calls. Information contained on our website is not part of this Quarterly Report.
PART I – FINANCIAL INFORMATION
|
Financial Statements (Unaudited) |
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands, except share and per share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
453,622 |
|
|
$ |
97,246 |
|
Prepaid expenses and other current assets |
|
|
3,964 |
|
|
|
2,076 |
|
Short term notes receivable - related party |
|
|
— |
|
|
|
226 |
|
|
|
|
|
|
|
|
|
|
|
|
|
457,586 |
|
|
|
99,548 |
|
Property and equipment, net |
|
|
331 |
|
|
|
71 |
|
|
|
|
— |
|
|
|
1,575 |
|
Equity method investments |
|
|
19,780 |
|
|
|
— |
|
Other investments held at fair value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long term notes receivable |
|
|
1,388 |
|
|
|
911 |
|
Long term notes receivable - related parties |
|
|
3,194 |
|
|
|
1,060 |
|
|
|
|
689 |
|
|
|
339 |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
505,961 |
|
|
$ |
111,548 |
|
|
|
|
|
|
|
|
|
|
Liabilities and Stockholders’ Equity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
6,202 |
|
|
$ |
3,083 |
|
|
|
|
7,824 |
|
|
|
9,215 |
|
|
|
|
120 |
|
|
|
— |
|
|
|
|
39 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
Total current liabilities |
|
|
14,185 |
|
|
|
12,298 |
|
Contingent consideration liability - related parties |
|
|
2,466 |
|
|
|
1,705 |
|
Convertible promissory notes - related parties, net of discounts and deferred issuance costs |
|
|
1,176 |
|
|
|
1,199 |
|
Convertible promissory notes and derivative liability (including a related party convertible promissory note and derivative liability of $ 0 million and $ 0.3 million at June 30, 2021 and December 31, 2020, respectively ) |
|
|
— |
|
|
|
978 |
|
|
|
|
3,239 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
21,066 |
|
|
|
16,180 |
|
|
|
|
|
|
|
|
|
|
Commitments and contingencies (Note 15) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock, €0.10 par value ($0.12 par value at June 30, 2021 and December 31, 2020, respectively); 750,000,000 and 173,116,704 shares authorized at June 30, 2021 and December 31, 2020, respectively; 154,819,776 and 114,735,712 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively |
|
|
17,299 |
|
|
|
13,372 |
|
Additional paid-in capital |
|
|
691,382 |
|
|
|
261,626 |
|
Accumulated other comprehensive income (loss) |
|
|
3,937 |
|
|
|
5,819 |
|
|
|
|
(237,768 |
) |
|
|
(189,995 |
) |
|
|
|
|
|
|
|
|
|
Total stockholders’ equity attributable to ATAI Life Sciences N.V. stockholders |
|
|
474,850 |
|
|
|
90,822 |
|
|
|
|
10,045 |
|
|
|
4,546 |
|
|
|
|
|
|
|
|
|
|
Total stockholders’ equity |
|
|
484,895 |
|
|
|
95,368 |
|
|
|
|
|
|
|
|
|
|
Total liabilities and stockholders’ equity |
|
$ |
505,961 |
|
|
$ |
111,548 |
|
|
|
|
|
|
|
|
|
|
See accompanying notes to the unaudited condensed consolidated financial statements
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in thousands, except share and per share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
19,880 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16,026 |
|
|
|
2,854 |
|
|
|
21,611 |
|
|
|
4,998 |
|
Acquisition of in-process research and development |
|
|
7,962 |
|
|
|
120 |
|
|
|
8,934 |
|
|
|
120 |
|
General and administrative |
|
|
37,331 |
|
|
|
2,851 |
|
|
|
46,604 |
|
|
|
4,421 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
61,319 |
|
|
|
5,825 |
|
|
|
77,149 |
|
|
|
9,539 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(61,319 |
) |
|
|
(5,825 |
) |
|
|
(57,269 |
) |
|
|
(9,539 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income (expense), net: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
35 |
|
|
|
18 |
|
|
|
72 |
|
|
|
38 |
|
Change in fair value of contingent consideration liability - related parties |
|
|
(911 |
) |
|
|
(42 |
) |
|
|
(660 |
) |
|
|
(66 |
) |
Change in fair value of short term notes receivable - related party |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
718 |
|
Change in fair value of convertible promissory notes |
|
|
— |
|
|
|
(1,260 |
) |
|
|
— |
|
|
|
(133 |
) |
Change in fair value of derivative liability |
|
|
— |
|
|
|
— |
|
|
|
41 |
|
|
|
— |
|
Unrealized loss on other investments held at fair value |
|
|
(5,460 |
) |
|
|
— |
|
|
|
(5,460 |
) |
|
|
— |
|
Unrealized gain on other investments |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss on conversion of convertible promissory notes |
|
|
(513 |
) |
|
|
— |
|
|
|
(513 |
) |
|
|
— |
|
Gain on consolidation of a variable interest entity |
|
|
3,543 |
|
|
|
— |
|
|
|
3,543 |
|
|
|
— |
|
Other income (expense), net |
|
|
(2,676 |
) |
|
|
(37 |
) |
|
|
(1,302 |
) |
|
|
(119 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income (expense), net |
|
|
(5,982 |
) |
|
|
(1,321 |
) |
|
|
(4,279 |
) |
|
|
20,294 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) before income taxes |
|
|
(67,301 |
) |
|
|
(7,146 |
) |
|
|
(61,548 |
) |
|
|
10,755 |
|
Provision for income taxes |
|
|
(58 |
) |
|
|
— |
|
|
|
(64 |
) |
|
|
— |
|
Gain on dilution of equity method investment |
|
|
16,923 |
|
|
|
— |
|
|
|
16,923 |
|
|
|
— |
|
Losses from investments in equity method investees, net of tax |
|
|
(2,937 |
) |
|
|
(9,811 |
) |
|
|
(4,640 |
) |
|
|
(11,831 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(53,373 |
) |
|
|
(16,957 |
) |
|
|
(49,329 |
) |
|
|
(1,076 |
) |
Net loss attributable to redeemable noncontrolling interests and noncontrolling interests |
|
|
(4,912 |
) |
|
|
(600 |
) |
|
|
(1,556 |
) |
|
|
(1,022 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable to ATAI Life Sciences N.V. stockholders |
|
$ |
(48,461 |
) |
|
$ |
(16,357 |
) |
|
$ |
(47,773 |
) |
|
$ |
(54 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share attributable to ATAI Life Sciences N.V. stockholders — basic and diluted |
|
$ |
(0.37 |
) |
|
$ |
(0.18 |
) |
|
$ |
(0.38 |
) |
|
$ |
(0.00 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding attributable to ATAI Life Sciences N.V. stockholders — basic and diluted |
|
|
132,265,075 |
|
|
|
90,709,312 |
|
|
|
125,797,732 |
|
|
|
90,709,312 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to the unaudited condensed consolidated financial statements
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(53,373 |
) |
|
$ |
(16,957 |
) |
|
$ |
(49,329 |
) |
|
$ |
(1,076 |
) |
Other comprehensive loss: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency translation adjustments, net of tax |
|
|
2,110 |
|
|
|
784 |
|
|
|
(1,916 |
) |
|
|
(106 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income (loss) |
|
$ |
(51,263 |
) |
|
$ |
(16,173 |
) |
|
$ |
(51,245 |
) |
|
$ |
(1,182 |
) |
Comprehensive income (loss) attributable to redeemable noncontrolling interests and noncontrolling interests |
|
|
(4,912 |
) |
|
|
(600 |
) |
|
|
(1,556 |
) |
|
|
(1,022 |
) |
Foreign currency translation adjustments, net of tax attributable to noncontrolling interests |
|
|
150 |
|
|
|
(20 |
) |
|
|
(34 |
) |
|
|
(7 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive loss attributable to redeemable noncontrolling interests and noncontrolling interests |
|
|
(4,762 |
) |
|
|
(620 |
) |
|
|
(1,590 |
) |
|
|
(1,029 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income (loss) attributable to ATAI Life Sciences N.V. stockholders |
|
$ |
(46,501 |
) |
|
$ |
(15,553 |
) |
|
$ |
(49,655 |
) |
|
$ |
(153 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to the unaudited condensed consolidated financial statements
CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE NONCONTROLLING
INTERESTS AND STOCKHOLDERS’ EQUITY
(Amounts in thousands, except share and per share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances at December 31, 2020 |
|
$ |
— |
|
|
|
114,735,712 |
|
|
$ |
13,372 |
|
|
$ |
261,626 |
|
|
$ |
— |
|
|
$ |
5,819 |
|
|
$ |
(189,995 |
) |
|
$ |
90,822 |
|
|
$ |
4,546 |
|
|
$ |
95,368 |
|
Issuance of common shares, net of issuance costs of $4.9 million |
|
|
— |
|
|
|
15,552,688 |
|
|
|
1,881 |
|
|
|
162,497 |
|
|
|
(140,868 |
) |
|
|
— |
|
|
|
— |
|
|
|
23,510 |
|
|
|
— |
|
|
|
23,510 |
|
Issuance of common shares under the Hurdle Share Option Plan (see Note 12) |
|
|
— |
|
|
|
7,281,376 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Issuance of noncontrolling interest |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
885 |
|
|
|
885 |
|
Stock-based compensation expense |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
212 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
212 |
|
|
|
— |
|
|
|
212 |
|
Foreign currency translation adjustment, net of tax |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(3,842 |
) |
|
|
— |
|
|
|
(3,842 |
) |
|
|
(184 |
) |
|
|
(4,026 |
) |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
688 |
|
|
|
688 |
|
|
|
3,356 |
|
|
|
4,044 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of March 31, 2021 |
|
$ |
— |
|
|
|
137,569,776 |
|
|
$ |
15,253 |
|
|
$ |
424,335 |
|
|
$ |
(140,868 |
) |
|
$ |
1,977 |
|
|
$ |
(189,307 |
) |
|
$ |
111,390 |
|
|
$ |
8,603 |
|
|
$ |
119,993 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Settlement of issuance of common shares, net of issuance costs of $ 4.9 million |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
140,868 |
|
|
|
— |
|
|
|
— |
|
|
|
140,868 |
|
|
|
— |
|
|
|
140,868 |
|
Issuance of common shares, net of issuance costs of $9.0 million |
|
|
— |
|
|
|
17,250,000 |
|
|
|
2,046 |
|
|
|
229,535 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
231,581 |
|
|
|
— |
|
|
|
231,581 |
|
Issuance of noncontrolling interest |
|
|
2,555 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3,649 |
|
|
|
3,649 |
|
Stock-based compensation expense |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
37,512 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
37,512 |
|
|
|
— |
|
|
|
37,512 |
|
Foreign currency translation adjustment, net of tax |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,960 |
|
|
|
— |
|
|
|
1,960 |
|
|
|
150 |
|
|
|
2,110 |
|
|
|
|
(2,555 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(48,461 |
) |
|
|
(48,461 |
) |
|
|
(2,357 |
) |
|
|
(50,818 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of June 30, 2021 |
|
$ |
— |
|
|
|
154,819,776 |
|
|
$ |
17,299 |
|
|
$ |
691,382 |
|
|
$ |
— |
|
|
$ |
3,937 |
|
|
$ |
(237,768 |
) |
|
$ |
474,850 |
|
|
$ |
10,045 |
|
|
$ |
497,032 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
to ATAI Life Sciences N.V. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances at December 31, 2019 |
|
$ |
142 |
|
|
|
90,709,312 |
|
|
$ |
10,510 |
|
|
$ |
69,819 |
|
|
$ |
(1,426 |
) |
|
$ |
(20,152 |
) |
|
$ |
58,751 |
|
|
$ |
887 |
|
|
$ |
59,638 |
|
Stock-based compensation expense |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
41 |
|
|
|
— |
|
|
|
— |
|
|
|
41 |
|
|
|
— |
|
|
|
41 |
|
Foreign currency translation adjustment, net of tax |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(903 |
) |
|
|
— |
|
|
|
(903 |
) |
|
|
13 |
|
|
|
(890 |
) |
|
|
|
(33 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
16,302 |
|
|
|
16,302 |
|
|
|
(389 |
) |
|
|
15,913 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of March 31, 2020 |
|
$ |
109 |
|
|
|
90,709,312 |
|
|
$ |
10,510 |
|
|
$ |
69,860 |
|
|
$ |
(2,329 |
) |
|
$ |
(3,850 |
) |
|
$ |
74,191 |
|
|
$ |
511 |
|
|
$ |
74,702 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock-based compensation expense |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
41 |
|
|
|
— |
|
|
|
— |
|
|
|
41 |
|
|
|
— |
|
|
|
41 |
|
Issuance of subsidiary shares in connection with the Columbia stock purchase agreement (Note 16)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency translation adjustment, net of tax |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
804 |
|
|
|
|
|
|
|
804 |
|
|
|
(20 |
) |
|
|
777 |
|
|
|
|
(109 |
) |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(16,357 |
) |
|
|
(16,357 |
) |
|
|
(491 |
) |
|
|
(16,848 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balances as of June 30, 2020 |
|
$ |
— |
|
|
$ |
90,709,312 |
|
|
$ |
10,510 |
|
|
$ |
70,021 |
|
|
$ |
(1,525 |
) |
|
$ |
(20,207 |
) |
|
$ |
58,799 |
|
|
$ |
— |
|
|
$ |
58,800 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See accompanying notes to the unaudited condensed consolidated financial statements
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from operating activities |
|
|
|
|
|
|
|
|
|
|
$ |
(49,329 |
) |
|
$ |
(1,076 |
) |
Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
|
|
|
|
Depreciation and amortization expense |
|
|
25 |
|
|
|
5 |
|
Amortization of debt discount |
|
|
191 |
|
|
|
15 |
|
Change in fair value of contingent consideration liability- related parties |
|
|
660 |
|
|
|
66 |
|
Change in fair value of short term notes receivable - related parties |
|
|
|
|
|
|
(718 |
) |
Change in fair value of convertible promissory notes |
|
|
|
|
|
|
133 |
|
Change in fair value of derivative liability |
|
|
(41 |
) |
|
|
12 |
|
Change in fair value of warrant liability |
|
|
|
|
|
|
|
|
Unrealized loss on other investments held at fair value |
|
|
5,460 |
|
|
|
— |
|
Unrealized gains on other investments |
|
|
|
|
|
|
|
|
Gain on dilution of equity method investment |
|
|
|
|
|
|
|
|
Loss on conversion of convertible notes |
|
|
513 |
|
|
|
|
|
Gain on consolidation of a variable interest entity |
|
|
|
|
|
|
|
|
Losses from investments in equity method investees |
|
|
4,641 |
|
|
|
11,831 |
|
In-process research and development expense |
|
|
8,934 |
|
|
|
120 |
|
Stock-based compensation expense |
|
|
37,724 |
|
|
|
82 |
|
Unrealized foreign exchange gains |
|
|
|
|
|
|
(155 |
) |
|
|
|
41 |
|
|
|
(57 |
) |
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
|
Prepaid expenses and other current assets |
|
|
(1,674 |
) |
|
|
(513 |
) |
|
|
|
2,380 |
|
|
|
252 |
|
|
|
|
(3,846 |
) |
|
|
752 |
|
|
|
|
120 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
Net cash used in operating activities |
|
|
(14,627 |
) |
|
|
(9,107 |
) |
|
|
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
|
< |