Akili Announces Release Date for Fourth Quarter and Full Year 2023 Financial Results, Provides Investor Communications and Board and Corporate Governance Updates
February 21 2024 - 4:05PM
Business Wire
Plans to disclose Q4/FY 2023 financial results
on February 29, 2024; CEO Matthew Franklin to participate in
fireside chat at TD Cowen’s 44th Annual Healthcare Conference on
March 4, 2024
Appointed John Spinale to Board of Directors
and Audit Committee; provides update regarding plans for April 17,
2024 Annual Meeting and efforts to regain compliance with Nasdaq
rules
Akili, Inc. (Nasdaq: AKLI), a leading digital medicine company,
today provided several corporate updates, including that it plans
to report fourth quarter and full year 2023 financial results and a
business update via press release on Thursday, February 29, 2024
after the market closes. The company will not be hosting an
earnings conference call for this release. Akili is also providing
the following updates:
Upcoming Conference Participation Akili CEO Matt Franklin
will participate in a fireside chat at TD Cowen’s 44th Annual
Healthcare Conference scheduled on Monday, March 4, 2024 at 12:50pm
EST. A live audio webcast and replay of the session will be
available at investors.akiliinteractive.com under the “Events &
Presentations” section of the website.
New Director Appointment Akili’s Board of Directors
appointed John Spinale to the Board and to the Audit Committee,
effective February 16, 2024. Following the appointment of Mr.
Spinale, an “independent director” under applicable SEC and Nasdaq
rules, the Board has a majority of independent directors, and the
Audit Committee consists of three independent directors.
Mr. Spinale is a co-founder and has served as a Managing
Director at JAZZ Venture Partners, an early-stage venture capital
firm, since its inception in 2015, and he previously served as a
member of Akili’s board of directors from January 2016 to August
2022. Prior to JAZZ Venture Partners, he held senior operating
roles in an array of technology companies. He has multiple decades
of experience in consumer technology and digital media with a
career focused on building, scaling and running high-growth
companies of all sizes and stages.
2024 Annual Meeting of Stockholders and Nasdaq Listing
Compliance Akili’s Board has approved April 17, 2024 for the
Company’s 2024 Annual Meeting of Stockholders and, among other
Annual Meeting agenda items, the inclusion of a proposal for
stockholders that, if approved, would provide the Board with the
discretion to effect a reverse stock split. This comes as Akili
continues to take steps to regain compliance with the Nasdaq
listing rules.
The Company plans to file a preliminary proxy statement with the
SEC, which will contain additional details regarding the reverse
stock split proposal and other Annual Meeting agenda items.
About Akili Akili is pioneering the development of
cognitive treatments through game-changing technologies. Akili’s
approach of leveraging technologies designed to directly target the
brain establishes a new category of medicine – medicine that is
validated through clinical trials like a drug or medical device but
experienced like entertainment. Akili’s platform is powered by
proprietary therapeutic engines designed to target cognitive
impairment at its source in the brain, informed by decades of
research and validated through rigorous clinical programs. Driven
by Akili’s belief that effective medicine can also be fun and
engaging, Akili’s products are delivered through captivating action
video game experiences. For more information, please visit
www.akiliinteractive.com.
Cautionary Note Regarding Forward-Looking Statements This
press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995, as
amended. These forward-looking statements generally are identified
by the words “believe,” “project,” “expect,” “anticipate,”
“estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,”
“prepare,” “pursue,” “may,” “should,” “will,” “would,” “will be,”
“will continue,” “will likely result,” and similar expressions.
Forward-looking statements are predictions, projections and other
statements about future events that are based on current
expectations and assumptions and, as a result, are subject to risks
and uncertainties. These forward-looking statements include,
without limitation, statements in this press release related to:
our plans to announce fourth quarter and fiscal year 2023 financial
results; our plans for the Company’s 2024 Annual Meeting of
Stockholders; our efforts and expectations regarding regaining
compliance with the Nasdaq listing rules; and other risks
identified in our current filings and any subsequent filings made
with the Securities and Exchange Commission (SEC). We caution you
not to place undue reliance on any forward-looking statements,
which speak only as of the date hereof and should not be relied
upon as representing our views as of any subsequent date. We
disclaim any obligation to publicly update or revise any such
statements to reflect any change in expectations or in events,
conditions or circumstances on which any such statements may be
based, or that may affect the likelihood that actual results will
differ from those set forth in the forward-looking statements.
Akili is a registered trademark of Akili, Inc. All rights
reserved.
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version on businesswire.com: https://www.businesswire.com/news/home/20240221483326/en/
Investor: Matt Franklin Chief Executive Officer
InvestorRelations@akiliinteractive.com
Media: Caty Reid VP, Marketing & Communications
PR@akiliinteractive.com
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