Emyria (EMD) Q4 2024 TU earnings summary

Executive summary

• Achieved record clinical billings exceeding $1 million in the June quarter, with a 60% increase in mental health service revenues at Pax and Empax Centres and 36% year-over-year group revenue growth.

• Opened the first Empax Centre, a state-of-the-art facility for mental health treatments, and expanded clinical capacity with new staff and Australia's first female Authorised Prescriber for MDMA-assisted therapy.

• Entered a research agreement for an MDMA-assisted therapy study for first responders with PTSD, subsidized by Reach Wellness, and advanced participation in the IMPACT-2 trial on PTSD.

Financial highlights

• Clinical billings for the quarter were $1,092,087, with recognized revenues of $575k, up 36% from the prior year quarter.

• Net cash used in operating activities was $1.6 million for Q4 FY24.

• Received $2.3 million in placement commitments, with $1.98 million collected during the quarter and $320k pending from Director participation.

• Ended the quarter with $1.57 million in cash and cash equivalents.

• Secured $499,411 in non-dilutive funding from the WA Government for MDMA analogue drug development.

Outlook and guidance

• Focused on expanding national clinical services for mental health and scaling Empax Centre operations.

• Preparing to scale infrastructure for MDMA-assisted therapy and additional assistive therapy programs for treatment-resistant depression.

• Advancing a library of patentable MDMA-like compounds, with patents at the national filing phase and commercial licensing negotiations underway.

• Fully funded participant in the NIH Preclinical Screening Program for Pain, with asset RX7 progressing to Tier 3 evaluations in H2 2024.