Akili cuts 30% of staff to focus cash on growing prescription video game sales
Dive Brief: Akili, the developer of the first prescription video game to treat ADHD, said it will lay off 46 people, or 30% of its employees, and putting multiple programs on hold to extend its cash runway out to 2025. Akili has yet to turn its first product, which received De Novo clearance in 2020, into a big seller. Sales reached $82,000 in the third quarter on operating expenses of $24.5 million. The company’s ability to raise money to fund its work has been limited by the collapse of its stock price in recent months. The shares fell from $14 in August to just over $1.40 this week.