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Akili, Inc. - AKLI STOCK NEWS

Welcome to our dedicated page for Akili news (Ticker: AKLI), a resource for investors and traders seeking the latest updates and insights on Akili stock.

Akili, Inc. (Nasdaq: AKLI) is a pioneering digital medicine company focused on developing innovative cognitive treatments through advanced technology. Akili leverages video game experiences to create clinically-validated digital therapeutics aimed at improving attention and cognitive function. Their flagship products, EndeavorRx and EndeavorOTC, target ADHD in children and adults respectively. These treatments are grounded in rigorous scientific research and have shown significant efficacy in clinical trials.

In recent developments, Akili reported a significant revenue increase in the third quarter of 2023, with total revenues reaching $702 thousand, a 5x growth from the previous quarter. Notably, Akili has shifted its business strategy to focus on non-prescription models, simplifying access to its treatments. The company recently submitted EndeavorOTC to the FDA for authorization as an over-the-counter treatment for adult ADHD. Additionally, Akili has partnered with Shionogi for the Japanese market, where the Phase 3 study for pediatric ADHD is underway.

Financially, Akili ended the third quarter with a robust cash position of $86.3 million. Despite operating expenses, the company maintains a positive gross margin of approximately 60%. CEO Matt Franklin expressed optimism about achieving profitability through these strategic shifts and ongoing regulatory advancements.

Akili's commitment to innovation extends beyond ADHD. The company is exploring broader applications of its technologies, aiming to transform digital therapeutics into a mainstream treatment modality. With a dedication to rigorous clinical validation and user engagement, Akili stands at the forefront of the digital medicine revolution.

News

EndeavorRxⓇ, World’s First and Only Prescription Video Game Treatment, Secures FDA Label Expansion for Pediatric ADHD Patients Aged 13-17

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Akili, Inc. (Nasdaq: AKLI) has received FDA authorization to expand the label for EndeavorRx® from 8 to 12 year-old patients with primarily inattentive or combined-type ADHD to include older children aged 13 - 17. This expanded age range is expected to more than double the number of pediatric patients with ADHD eligible for EndeavorRx. The clinical study involved 162 adolescents with a verified diagnosis of inattentive or combined-type ADHD who all received EndeavorRx for 4 weeks and demonstrated significant improvements in attentional control. Additionally, 27.1% of participants in the study demonstrated at least a 30% reduction in total scores on the ADHD-RS, and statistically significant improvements were observed for parent and child ratings of attention improvement, as well as parent ratings of function across several domains.
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Akili Reports Third Quarter 2023 Financial Results and Provides Business Update

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Akili, Inc. (Nasdaq: AKLI) reports third quarter total revenues of $702 thousand, representing more than 5x growth over the second quarter of 2023. The company has filed EndeavorOTC with FDA as an over-the-counter treatment for adults with ADHD, emphasizing a strategic shift to a non-prescription business model. In the third quarter of 2023, Akili saw 176,559 first-time app downloads, 7,535 active subscribers, and $553 thousand in revenues. The company's cash position as of September 30, 2023, was $86.3 million.
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Akili to Host Third Quarter Financial Results Conference Call and Webcast on Thursday, November 9 at 4:30 p.m. ET

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Akili, Inc. to host conference call and webcast to review Q3 2023 financial results
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PureTech to Present at Two Upcoming Investor Conferences

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PureTech Health announces third quarter progress and upcoming investor conferences.
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Employees with ADHD Aren’t Reaching Their Full Potential at Work, Akili Study Finds

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Akili releases study on the impact of ADHD on the U.S. workforce
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Akili Announces Leadership Transition

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Akili, Inc. announces leadership transition and shift to non-prescription business model
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Akili Releases EndeavorOTC™ on Android™ Devices, Expanding Treatment Access for Millions of Adults with ADHD

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Akili's EndeavorOTC, a video game treatment for adults with ADHD, is now available on Google Play for Android devices.
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Akili Announces Business Transformation, Focusing on Non-prescription Model

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Akili, Inc. plans to transition to a non-prescription business model, aiming to increase consumer access and generate revenues that will support gross margins between 60 and 70 percent by late 2025. The company's focus on a consumer-led subscription model will reduce reliance on payers and intermediaries, allowing for more control over growth and a lasting, sustainable business. The non-prescription model has shown success with EndeavorOTC, which exceeded expectations in consumer demand, engagement, and retention in its first three months on the market. Akili plans to pursue regulatory approval for over-the-counter labeling of its treatment products.
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Tech Startup Founders Unite in Chicago for Candid Conversation and Insights at the Founders Roundtable Event hosted by LeadrPro

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The Founders Roundtable event in downtown Chicago offers an opportunity for founders to connect and gain insights during uncertain economic times.
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Akili Reports Second Quarter 2023 Financial Results and Provides Business Update

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FAQ

What is the current stock price of Akili (AKLI)?

The current stock price of Akili (AKLI) is $0.432 as of July 1, 2024.

What is the market cap of Akili (AKLI)?

The market cap of Akili (AKLI) is approximately 34.0M.

What is Akili, Inc. known for?

Akili, Inc. is known for developing innovative digital therapeutics aimed at improving cognitive function, particularly for ADHD.

What are Akili's main products?

Akili's main products are EndeavorRx, a prescription digital therapeutic for children with ADHD, and EndeavorOTC, a non-prescription treatment for adult ADHD.

What recent achievements has Akili reported?

Akili reported a significant increase in Q3 2023 revenues, successful submission of EndeavorOTC to the FDA, and ongoing Phase 3 trials in Japan.

What is Akili's current financial status?

As of Q3 2023, Akili reported $86.3 million in cash and a significant revenue increase, with positive gross margins of approximately 60%.

What is the strategic focus of Akili?

Akili is focusing on shifting from prescription to non-prescription models to improve accessibility and drive profitability.

Who has Akili partnered with for international markets?

Akili has partnered with Shionogi for the Japanese market, where they are currently conducting Phase 3 trials for pediatric ADHD.

What makes Akili's products unique?

Akili's products combine rigorous clinical validation with engaging video game experiences to effectively target cognitive impairments.

What are Akili's future plans?

Akili plans to seek regulatory approvals for broader applications of its digital therapeutics and continue expanding its product offerings.

How does Akili ensure the effectiveness of its treatments?

Akili’s treatments are based on decades of research and validated through rigorous clinical trials to ensure their efficacy and safety.

What is the company's vision for digital medicine?

Akili aims to establish a new category of medicine that is both clinically effective and engaging, transforming how cognitive impairments are treated.
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Akili, Inc.

Nasdaq:AKLI

AKLI Rankings

#5108 Ranked by Market Cap
N/A Ranked by Dividends

AKLI Stock Data

34.01M
60.45M
23.21%
61.48%
0.34%
Health Information Services
Surgical & Medical Instruments & Apparatus
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United States
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