Ketamine therapy provider Field Trip Health & Wellness Ltd. (OTCQB:FTHWF) shared its Q3 2023 results for three and nine months ended Dec. 31, 2022 and some of the period's highlights.
Financials:
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As of Dec. 31, the company held $4.9 (CA$6.7) million in cash and cash equivalents. On March 31, that number was $1.5 million.
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Revenue from patient services of $1.2 (CA$1,6) million and $3.9 million for the three and nine months ended Dec. 31, 2022, with increases of 19% and 69% as compared to the $1 million and $2.3 million income for the same periods ended Dec. 31, 2021.
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Total operating expenses of $6.0 million and $25.9 million for the three and nine months ended Dec. 31, 2022, somewhat constant regarding the $7.1 million and $22.8 million spent in the same periods in 2021.
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Net loss of $5.1 million (or $0.06 per share) and $21.7 million (or $0.31 per share) for the three and nine months ended Dec. 31, 2022 as compared to $6.5 million (or $0.13 per share) and $21.1 million (or $0.43 per share) for the same periods in 2021.
The comparatively higher revenues due to operations are not enough to meet or surpass expenses, which the company acknowledged along with a total deficit of $35.1 million since its inception.
Field Trip stated that it expects to incur further losses while developing its business, all of which creates "a material uncertainty that may cast significant doubt about the company's ability to continue as a going concern."
The company formed an independent committee (IC) of the directors' board in Dec. 2022 to strategically tackle issues like how capital market conditions make additional funding difficult, ongoing fixed costs regarding brick-and-mortar locations and the pause of its hybrid in-clinic/virtual program following telehealth's federal regulatory changes.
See also: 'Sea Change': Irwin Naturals, Numinus And Field Trip Discuss Psychedelics At Cantor Webinar
In Jan. 2023, the IC engaged a third-party consultant to review operations and assess alternate routes including further cost reductions, restructuring, subleasing or closing clinic locations and setting lease obligations.
Photo courtesy of Pexels.
氯胺酮治疗提供商field Trip Health&Wellness Ltd.(OTCQB：FTHWF)分享了截至2022年12月31日的三个月和九个月的2023年第三季度业绩和一些亮点。
财务数据：
截至12月31日，该公司持有490万美元(合670万加元)的现金和现金等价物。3月31日，这一数字为150万美元。
截至2022年12月31日的三个月和九个月，来自患者服务的收入分别为120万美元(160万加元)和390万美元，与截至2021年12月31日的100万美元和230万美元的同期收入相比，分别增长了19%和69%。
截至2022年12月31日的三个月和九个月的总运营支出分别为600万美元和2590万美元，与2021年同期的710万美元和2280万美元相比略有不变。
截至2022年12月31日的三个月和九个月，净亏损510万美元(或每股0.06美元)和2170万美元(或每股0.31美元)，而2021年同期为650万美元(或每股0.13美元)和2110万美元(或每股0.43美元)。
运营带来的相对较高的收入不足以满足或超过支出，该公司承认，自成立以来，该公司总共出现了3510万美元的赤字。
Field Trip表示，它预计在发展业务的过程中会出现进一步的亏损，所有这一切都会造成“重大不确定性，可能会让人对该公司作为一家持续经营企业的持续经营能力产生重大怀疑。”
该公司于2022年12月成立了一个独立的董事会委员会(IC)，从战略上解决资本市场状况如何导致额外融资困难、实体地点的持续固定成本以及远程医疗联邦监管改革后暂停其诊所/虚拟混合计划等问题。
另见：《沧桑巨变》：欧文·纳图拉斯、努米努斯和实地考察在康托网络研讨会上讨论迷幻药
2023年1月，IC聘请了第三方顾问来审查运营并评估替代路线，包括进一步降低成本、重组、转租或关闭诊所地点，以及设定租赁义务。
照片由Pexels提供。
