Brief: Akili Inc Says Company's Workforce Will Be Reduced By About 30%

Akili

12/01/2023 13:20

Jan 12 (Reuters) - Akili Inc  AKLI.O :
    * AKILI INC - COMPANY'S WORKFORCE WILL BE REDUCED BY
APPROXIMATELY
30% ACROSS DIFFERENT AREAS AND FUNCTIONS IN COMPANY
    * AKILI INC - ON JANUARY 11, APPROVED AN OPERATING PLAN FOR
2023
THAT WILL RESULT IN A REDUCTION OF COMPANY'S OPERATING EXPENSES
    * AKILI INC - ESTIMATES THAT SEVERANCE AND
TERMINATION-RELATED
COSTS WILL BE ABOUT $1.5 - $2.5 MILLION AND EXPECTS TO RECORD
THESE CHARGES IN Q1 OF 2023
    * AKILI INC - COMPANY ALSO EXPECTS THAT PAYMENTS OF COSTS
WILL BE
MADE IN THE FIRST QUARTER OF 2023
    * AKILI INC - COMPANY NOW EXPECTS TO BE ABLE TO FUND ITS
OPERATING
EXPENSES AND CAPITAL EXPENDITURE REQUIREMENTS INTO THE FIRST
QUARTER OF 2025
    * AKILI INC - WORKFORCE REDUCTION EXPECTED TO BE COMPLETED
BY END
OF Q1 OF 2023
    * AKILI INC - OPERATING PLAN INCLUDES A PIPELINE
REPRIORITIZATION
OF THE COMPANY’S PRECLINICAL AND CLINICAL DEVELOPMENT PROGRAMS
    * AKILI INC - EXPECTS 2023 NON-GAAP TOTAL OPERATING EXPENSES
OF
BETWEEN $55.0 - $60.0 MILLION

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