Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 7, 2023

Ontrak, Inc.

(Exact name of registrant as specified in its charter)

Delaware

001-31932

88-0464853

(State or other jurisdiction
of incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

2200 Paseo Verde Parkway, Suite 280, Henderson, NV 89052

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code (310) 444-4300

(Former name or former address, if changed since last report.)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.0001 par value	OTRK	The NASDAQ Capital Market
9.50% Series A Cumulative Perpetual Preferred Stock, $0.0001 par value	OTRKP	The NASDAQ Capital Market

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

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. ☐

Item 8.01 Other Events

On September 7, 2023, Ontrak, Inc. (the “Company”) issued a press release announcing its study of behavioral health patient outcomes reveals a 53-60% reduction in anxiety and depression symptoms. The full text of the Company’s press release is filed herewith as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description

99.1 Press Release, dated September 7 , 2023.

104 Cover Page Interactive Data File (formatted as Inline XBRL).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	Ontrak, Inc.

Date: September 7, 2023	By:	/s/ James J. Park
		James J. Park
		Chief Financial Officer

Exhibit 99.1

News Release

For Immediate Release

Ontrak Health's Study of Behavioral Health Patient Reported Outcomes Reveals 53-60% Reduction in Anxiety and Depressive Symptoms

Continuous PHQ-9 and GAD-7 assessments confirm initial Patient Reported Outcome Measures (PROMs) findings that contribute to improved health outcomes for Ontrak Health members.

Henderson, Nevada, September 7,2023 - Ontrak Health (NASDAQ: OTRK), a leading AI-powered and telehealth-enabled healthcare company, is pleased to announce the results of its 9-month post baseline follow-up behavioral health study that reinforces its positive initial findings. Leveraging industry-recognized PHQ-9 and GAD-7 assessments, Ontrak Health's Wholehealth+ program has contributed to 53-60% reductions in anxiety and depressive symptoms among assessed members.

Key highlights of the study include:

●

Anxiety Symptoms Improvement: With extended program engagement, 60% of members demonstrated a clinically significant reduction in anxiety symptoms, a marked increase compared to the 30% reported at the six-month mark.

●

Depressive Symptoms Improvement: An impressive 53% of assessed members experienced a clinically significant reduction in depressive symptoms, consistent with the six-month findings.

Dr. Judith Feld, Chief Medical Officer at Ontrak Health, commented, "We believe the study results solidify the role of our program in effectively managing anxiety-related concerns and the robustness of our approach in addressing depression and confirm our commitment to making lasting improvements in mental health care. Our Wholehealth+ program, fortified by the PHQ-9 and GAD-7 assessments, empowers our members to achieve sustained well-being. The increasing positive symptom reduction we're witnessing over the course of over 9 months underscores the value of personalized treatment plans and ongoing support."

The PHQ-9 and GAD-7 assessments remain integral to Ontrak Health's approach, enabling a data-driven understanding of members' progress. With thousands of assessments conducted, the company continues to provide comprehensive care coaching that supports members in their journey to better mental health.

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About Ontrak, Inc.

Ontrak, Inc. is a leading AI and telehealth-enabled healthcare company, whose mission is to help improve the health and save the lives of as many people as possible. Ontrak identifies, engages, activates, and provides care pathways to treatment for the most vulnerable members of the behavioral health population who would otherwise fall through the cracks of the healthcare system. We engage individuals with anxiety, depression, substance use disorder and chronic disease through personalized care coaching and customized care pathways that help them receive the treatment and advocacy they need, despite the socio-economic, medical and health system barriers that exacerbate the severity of their comorbid illnesses. The company’s integrated intervention platform uses AI, predictive analytics and digital interfaces combined with dozens of care coach engagements to deliver improved member health, better healthcare system utilization, and durable outcomes and savings to healthcare payors.

Learn more at www.ontrakhealth.com

Media Contact:

Jaime Prieto

jprieto@ontrakhealth.com

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Document And Entity Information	Sep. 07, 2023
Document Information [Line Items]
Entity, Registrant Name	Ontrak, Inc.
Document, Type	8-K
Document, Period End Date	Sep. 07, 2023
Entity, Incorporation, State or Country Code	DE
Entity, File Number	001-31932
Entity, Tax Identification Number	88-0464853
Entity, Address, Address Line One	2200 Paseo Verde Parkway, Suite 280
Entity, Address, City or Town	Henderson
Entity, Address, State or Province	NV
Entity, Address, Postal Zip Code	89052
City Area Code	310
Local Phone Number	444-4300
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity, Emerging Growth Company	false
Amendment Flag	false
Entity, Central Index Key	0001136174
CommonStock Custom [Member]
Document Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	OTRK
Security Exchange Name	NASDAQ
SeriesACumulativePerpetualPreferredStock950 Custom [Member]
Document Information [Line Items]
Title of 12(b) Security	9.50% Series A Cumulative Perpetual Preferred Stock
Trading Symbol	OTRKP
Security Exchange Name	NASDAQ