Better Therapeutics Key Executives
This section highlights Better Therapeutics's key executives, including their titles and compensation details.
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Better Therapeutics Earnings
This section highlights Better Therapeutics's earnings, including key dates, EPS, earnings reports, and earnings call transcripts.
Next Earnings Date
Last Earnings Results
Earnings Call Transcripts
| Transcript | Quarter | Year | Date | Estimated EPS | Actual EPS |
|---|---|---|---|---|---|
| Read Transcript | Q3 | 2023 | 2023-11-10 | N/A | N/A |
| Read Transcript | Q2 | 2023 | 2023-08-09 | $-0.39 | $-0.24 |
| Read Transcript | Q1 | 2023 | 2023-05-14 | N/A | N/A |
Financial Statements
Access annual & quarterly financial statements for Better Therapeutics, including income statements, balance sheets, and cash flow statements..
Annual Income Statement
| Breakdown | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 |
|---|---|---|---|---|
| Revenue | $- | $- | $8.00K | $18.00K |
| Cost of Revenue | $2.73M | $1.62M | $682.00K | $898.00K |
| Gross Profit | $-2.73M | $-1.62M | $-674.00K | $-880.00K |
| Gross Profit Ratio | - | - | -8425.00% | -4888.89% |
| Research and Development Expenses | $16.44M | $19.44M | $2.98M | $2.29M |
| General and Administrative Expenses | $14.84M | $8.79M | $2.46M | $2.20M |
| Selling and Marketing Expenses | $6.98M | $2.34M | $216.00K | $406.00K |
| Selling General and Administrative Expenses | $21.82M | $11.12M | $2.67M | $2.60M |
| Other Expenses | $- | $- | $- | $- |
| Operating Expenses | $38.26M | $30.56M | $5.65M | $4.89M |
| Cost and Expenses | $38.26M | $30.56M | $6.33M | $5.79M |
| Interest Income | $1.49K | $185 | $100 | $11 |
| Interest Expense | $1.49M | $185.00K | $100.00K | $11.00K |
| Depreciation and Amortization | $2.73M | $1.62M | $75.00K | $72.00K |
| EBITDA | $-38.26M | $-30.56M | $-6.25M | $-5.70M |
| EBITDA Ratio | - | - | -78100.00% | -31672.22% |
| Operating Income | $-38.26M | $-30.56M | $-6.32M | $-5.77M |
| Operating Income Ratio | - | - | -79037.50% | -32072.22% |
| Total Other Income Expenses Net | $-1.49M | $-9.93M | $89.00K | $-11.00K |
| Income Before Tax | $-39.75M | $-40.49M | $-6.23M | $-5.78M |
| Income Before Tax Ratio | - | - | -77925.00% | -32133.33% |
| Income Tax Expense | $7.00K | $-153.00K | $153.00K | $11.00K |
| Net Income | $-39.76M | $-40.34M | $-6.39M | $-5.79M |
| Net Income Ratio | - | - | -79837.50% | -32194.44% |
| EPS | $-1.69 | $-1.71 | $-0.85 | $-0.25 |
| EPS Diluted | $-1.69 | $-1.71 | $-0.85 | $-0.25 |
| Weighted Average Shares Outstanding | 23.56M | 23.60M | 7.56M | 23.60M |
| Weighted Average Shares Outstanding Diluted | 23.56M | 23.60M | 7.56M | 23.60M |
| SEC Filing | Source | Source | Source | Source |
| Breakdown | September 30, 2023 | June 30, 2023 | March 31, 2023 | December 31, 2022 | September 30, 2022 | June 30, 2022 | March 31, 2022 | December 31, 2021 | September 30, 2021 | June 30, 2021 | March 31, 2021 | December 31, 2020 | September 30, 2020 | June 30, 2020 | March 31, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $- | $- | $- | $- | $- | $- | $- | $284.00K | $- | $- | $- | $1.04K | $1 | $3.00K | $4 |
| Cost of Revenue | $841.00K | $797.00K | $- | $- | $- | $651.00K | $663.00K | $142.00K | $- | $142.00K | $- | $519 | $161 | $154.00K | $203 |
| Gross Profit | $-841.00K | $-797.00K | $- | $- | $- | $-651.00K | $-663.00K | $142.00K | $- | $-142.00K | $- | $519 | $-160 | $-151.00K | $-199 |
| Gross Profit Ratio | - | - | - | - | 0.00% | - | - | 50.00% | 0.00% | - | 0.00% | 50.00% | -16000.00% | -5033.33% | -4975.00% |
| Research and Development Expenses | $1.83M | $2.24M | $3.39M | $3.05M | $5.48M | $4.24M | $3.67M | $6.35M | $6.67K | $4.90M | $1.38M | $1.33K | $1.19K | $476.00K | $668 |
| General and Administrative Expenses | $2.12M | $3.08M | $3.43M | $3.58M | $3.96M | $3.67M | $3.63M | $4.57M | $240.39K | $872.00K | $1.57M | $630 | $981 | $376.00K | $468 |
| Selling and Marketing Expenses | $1.39M | $1.70M | $2.10M | $1.70M | $1.56M | $1.68M | $2.04M | $1.18M | $552 | $564.00K | $43.00K | $77 | $82 | $12.00K | $45 |
| Selling General and Administrative Expenses | $3.51M | $4.79M | $5.54M | $5.27M | $5.52M | $5.36M | $5.67M | $5.75M | $240.39K | $1.44M | $1.61M | $707 | $1.06K | $388.00K | $513 |
| Other Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Operating Expenses | $4.50M | $7.03M | $8.93M | $8.32M | $11.00M | $9.60M | $9.35M | $12.10M | $240.39K | $6.33M | $2.99M | $2.19K | $1.91K | $864.00K | $1.18K |
| Cost and Expenses | $5.34M | $7.03M | $8.93M | $8.32M | $11.00M | $9.60M | $9.35M | $12.10M | $240.39K | $6.47M | $2.99M | $2.71K | $2.07K | $1.02M | $1.38K |
| Interest Income | $- | $563 | $- | $- | $- | $- | $- | $182 | $1.45K | $- | $- | $2 | $24 | $- | $33 |
| Interest Expense | $518.00K | $563.00K | $431.00K | $439.00K | $406.00K | $329.00K | $317.00K | $- | $- | $1.00K | $2.00K | $- | $- | $41.00K | $- |
| Depreciation and Amortization | $841.00K | $797.00K | $755.00K | $721.00K | $694.00K | $651.00K | $663.00K | $24 | $526 | $526.00K | $16.00K | $15 | $18 | $21 | $21 |
| EBITDA | $-4.50M | $-6.23M | $-8.17M | $-7.60M | $-10.30M | $-8.95M | $-8.68M | $-26.32M | $-8.47M | $-5.95M | $-2.97M | $-1.50K | $-2.39K | $-1.01M | $-1.36K |
| EBITDA Ratio | - | - | - | - | - | - | - | -9268.68% | - | - | - | -144.80% | -239200.00% | -33833.33% | -33975.00% |
| Operating Income | $-5.34M | $-7.03M | $-8.93M | $-8.32M | $-11.00M | $-9.60M | $-9.35M | $-12.10M | $-240.39K | $-6.47M | $-2.99M | $-1.52K | $-2.41K | $-1.01M | $-1.38K |
| Operating Income Ratio | - | - | - | - | - | - | - | -4261.97% | - | - | - | -146.24% | -241000.00% | -33833.33% | -34500.00% |
| Total Other Income Expenses Net | $-518.00K | $-563.00K | $-431.00K | $-439.00K | $-406.00K | $-329.00K | $-317.00K | $-1.79M | $-3.47M | $-2.17M | $-2.49M | $-151 | $314 | $-41.00K | $-33 |
| Income Before Tax | $-5.86M | $-7.59M | $-9.36M | $-8.76M | $-11.40M | $-9.93M | $-9.66M | $-13.90M | $-238.94K | $-8.65M | $-5.48M | $-1.67K | $-2.10K | $-1.06M | $-1.41K |
| Income Before Tax Ratio | - | - | - | - | - | - | - | -4893.31% | - | - | - | -160.79% | -209600.00% | -35200.00% | -35325.00% |
| Income Tax Expense | $3.00K | $1.00K | $1.00K | $4.00K | $3.00K | $328.67K | $317.00K | $-3.00K | $-526 | $1.00K | $-151.00K | $82 | $71 | $-21 | $369 |
| Net Income | $-5.86M | $-7.59M | $-9.36M | $-8.77M | $-11.40M | $-9.93M | $-9.98M | $-13.89M | $-238.94K | $-8.65M | $-5.33M | $-2.14K | $-2.55K | $-1.06M | $-1.78K |
| Net Income Ratio | - | - | - | - | - | - | - | -4892.25% | - | - | - | -206.17% | -254600.00% | -35200.00% | -44550.00% |
| EPS | $-0.15 | $-0.24 | $-0.39 | $-0.37 | $-0.48 | $-0.42 | $-0.43 | $-0.71 | $-0.01 | $-0.37 | $-0.23 | $-0.09 | $-0.50 | $-0.04 | $-0.36 |
| EPS Diluted | $-0.15 | $-0.24 | $-0.39 | $-0.37 | $-0.48 | $-0.42 | $-0.43 | $-0.71 | $-0.01 | $-0.37 | $-0.23 | $-0.09 | $-0.50 | $-0.04 | $-0.36 |
| Weighted Average Shares Outstanding | 38.50M | 31.22M | 23.83M | 23.75M | 23.69M | 23.59M | 23.41M | 19.69M | 23.60M | 23.60M | 23.60M | 24.61K | 5.08K | 23.60M | 4.92K |
| Weighted Average Shares Outstanding Diluted | 38.50M | 31.22M | 23.83M | 23.75M | 23.69M | 23.59M | 23.41M | 19.69M | 23.60M | 23.60M | 23.60M | 24.61K | 5.08K | 23.60M | 4.92K |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Annual Balance Sheet
| Breakdown | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 |
|---|---|---|---|---|
| Cash and Cash Equivalents | $15.74M | $40.57M | $123.00K | $757.00K |
| Short Term Investments | $- | $- | $- | $- |
| Cash and Short Term Investments | $15.74M | $40.57M | $123.00K | $757.00K |
| Net Receivables | $- | $- | $- | $- |
| Inventory | $- | $- | $- | $- |
| Other Current Assets | $2.71M | $4.68M | $340.00K | $230.00K |
| Total Current Assets | $18.45M | $45.25M | $463.00K | $987.00K |
| Property Plant Equipment Net | $121.00K | $82.00K | $89.00K | $183.00K |
| Goodwill | $- | $- | $- | $- |
| Intangible Assets | $3.89M | $5.08M | $5.55M | $3.27M |
| Goodwill and Intangible Assets | $3.89M | $5.08M | $5.55M | $3.27M |
| Long Term Investments | $- | $- | $- | $- |
| Tax Assets | $- | $- | $- | $- |
| Other Non-Current Assets | $488.00K | $548.00K | $280.00K | $444.00K |
| Total Non-Current Assets | $4.50M | $5.71M | $5.92M | $3.89M |
| Other Assets | $- | $- | $- | $- |
| Total Assets | $22.94M | $50.96M | $6.39M | $4.88M |
| Account Payables | $3.04M | $1.52M | $514.00K | $335.00K |
| Short Term Debt | $4.53M | $- | $- | $- |
| Tax Payables | $- | $- | $- | $- |
| Deferred Revenue | $- | $- | $- | $- |
| Other Current Liabilities | $5.93M | $3.21M | $99.00K | $151.00K |
| Total Current Liabilities | $13.49M | $4.73M | $613.00K | $486.00K |
| Long Term Debt | $10.35M | $9.51M | $640.00K | $5.00M |
| Deferred Revenue Non-Current | $- | $- | $- | $- |
| Deferred Tax Liabilities Non-Current | $- | $- | $152.00K | $- |
| Other Non-Current Liabilities | $- | $- | $11.74M | $- |
| Total Non-Current Liabilities | $10.35M | $9.51M | $12.53M | $5.00M |
| Other Liabilities | $- | $0 | $- | $- |
| Total Liabilities | $23.84M | $14.24M | $13.14M | $5.49M |
| Preferred Stock | $- | $- | $24.20M | $24.20M |
| Common Stock | $2.00K | $2.00K | $1.00K | $212.00K |
| Retained Earnings | $-111.50M | $-71.74M | $-31.41M | $-25.02M |
| Accumulated Other Comprehensive Income Loss | $- | $- | $- | $- |
| Other Total Stockholders Equity | $110.60M | $108.46M | $24.65M | $- |
| Total Stockholders Equity | $-899.00K | $36.72M | $-6.76M | $-605.00K |
| Total Equity | $-899.00K | $36.72M | $-6.76M | $-605.00K |
| Total Liabilities and Stockholders Equity | $22.94M | $50.96M | $6.39M | $4.88M |
| Minority Interest | $- | $- | $- | $- |
| Total Liabilities and Total Equity | $22.94M | $50.96M | $6.39M | $4.88M |
| Total Investments | $- | $- | $- | $- |
| Total Debt | $14.88M | $9.51M | $640.00K | $5.00M |
| Net Debt | $-860.00K | $-31.06M | $517.00K | $4.24M |
Balance Sheet Charts
| Breakdown | September 30, 2023 | June 30, 2023 | March 31, 2023 | December 31, 2022 | September 30, 2022 | June 30, 2022 | March 31, 2022 | December 31, 2021 | September 30, 2021 | June 30, 2021 | March 31, 2021 | December 31, 2020 | March 31, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $6.60M | $6.20M | $6.07M | $15.74M | $22.30M | $29.68M | $31.67M | $40.57M | $248.46K | $2.12M | $392.90K | $123 | $-757 |
| Short Term Investments | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $1.51K |
| Cash and Short Term Investments | $6.60M | $6.20M | $6.07M | $15.74M | $22.30M | $29.68M | $31.67M | $40.57M | $248.46K | $2.12M | $392.90K | $123 | $757 |
| Net Receivables | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Inventory | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Current Assets | $747.00K | $1.23M | $2.37M | $2.71M | $1.19M | $2.45M | $3.51M | $4.68M | $43.25K | $1.74M | $128.22K | $340 | $- |
| Total Current Assets | $7.34M | $7.42M | $8.44M | $18.45M | $23.49M | $32.14M | $35.18M | $45.25M | $291.71K | $3.85M | $521.12K | $463 | $757 |
| Property Plant Equipment Net | $102.00K | $115.00K | $131.00K | $121.00K | $122.00K | $115.00K | $98.00K | $82.00K | $61 | $58.00K | $73 | $89 | $- |
| Goodwill | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Intangible Assets | $2.79M | $3.58M | $3.75M | $3.89M | $4.12M | $4.36M | $4.53M | $5.08M | $5.11K | $5.62M | $6.14K | $5.55K | $- |
| Goodwill and Intangible Assets | $2.79M | $3.58M | $3.75M | $3.89M | $4.12M | $4.36M | $4.53M | $5.08M | $5.11K | $5.62M | $6.14K | $5.55K | $- |
| Long Term Investments | $- | $- | $- | $- | $- | $- | $- | $- | $57.51M | $57.51M | $57.50M | $- | $- |
| Tax Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $-57.51M | $- | $- | $- |
| Other Non-Current Assets | $483.00K | $483.00K | $483.00K | $488.00K | $488.00K | $487.00K | $488.00K | $548.00K | $-5.17K | $193.00K | $-6.21K | $-5.64K | $- |
| Total Non-Current Assets | $3.38M | $4.18M | $4.37M | $4.50M | $4.73M | $4.97M | $5.11M | $5.71M | $57.51M | $5.88M | $57.50M | $5.64K | $- |
| Other Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $280 | $- |
| Total Assets | $10.72M | $11.60M | $12.81M | $22.94M | $28.22M | $37.10M | $40.29M | $50.96M | $57.80M | $9.73M | $58.02M | $6.39K | $- |
| Account Payables | $2.31M | $2.98M | $2.51M | $3.04M | $1.25M | $1.09M | $735.00K | $1.52M | $- | $1.40M | $649 | $514 | $- |
| Short Term Debt | $6.59M | $5.69M | $5.54M | $4.53M | $3.13M | $1.78M | $304.00K | $- | $- | $- | $- | $- | $- |
| Tax Payables | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Deferred Revenue | $- | $- | $- | $- | $4.92M | $3.26M | $- | $- | $- | $- | $- | $- | $- |
| Other Current Liabilities | $4.04M | $5.20M | $5.59M | $5.93M | $4.93M | $3.27M | $2.53M | $3.21M | $244.57K | $1.27M | $67.68K | $99 | $- |
| Total Current Liabilities | $12.94M | $13.87M | $13.64M | $13.49M | $9.31M | $6.14M | $3.57M | $4.73M | $244.57K | $2.68M | $68.33K | $613 | $- |
| Long Term Debt | $7.72M | $8.52M | $9.00M | $10.35M | $11.66M | $12.91M | $9.30M | $9.51M | $- | $- | $- | $640 | $- |
| Deferred Revenue Non-Current | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Deferred Tax Liabilities Non-Current | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Non-Current Liabilities | $- | $- | $- | $- | $- | $- | $- | $- | $2.01M | $27.73M | $2.01M | $-640 | $- |
| Total Non-Current Liabilities | $7.72M | $8.52M | $9.00M | $10.35M | $11.66M | $12.91M | $9.30M | $9.51M | $2.01M | $27.73M | $2.01M | $640 | $- |
| Other Liabilities | $- | $- | $- | $- | $- | $- | $- | $0 | $- | $- | $0 | $11.89K | $- |
| Total Liabilities | $20.66M | $22.39M | $22.64M | $23.84M | $20.97M | $19.05M | $12.87M | $14.24M | $2.26M | $30.41M | $2.08M | $13.14K | $- |
| Preferred Stock | $- | $- | $- | $- | $- | $- | $- | $- | $24.20K | $24.20M | $24.20K | $- | $24.20K |
| Common Stock | $4.00K | $3.00K | $2.00K | $2.00K | $2.00K | $2.00K | $2.00K | $2.00K | $57.50M | $1.00K | $50.94M | $1 | $- |
| Retained Earnings | $-134.31M | $-128.45M | $-120.86M | $-111.50M | $-102.74M | $-91.33M | $-81.41M | $-71.74M | $-1.96M | $-45.39M | $-149.32K | $-31.41K | $- |
| Accumulated Other Comprehensive Income Loss | $- | $- | $- | $- | $- | $- | $- | $- | $-57.52M | $- | $-50.97M | $- | $- |
| Other Total Stockholders Equity | $124.37M | $117.66M | $111.03M | $110.60M | $109.99M | $109.39M | $108.83M | $108.46M | $- | $507.00K | $56.09M | $24.65K | $-24.81K |
| Total Stockholders Equity | $-9.94M | $-10.79M | $-9.83M | $-899.00K | $7.25M | $18.05M | $27.43M | $36.72M | $55.54M | $-20.68M | $55.94M | $-6.76K | $-605 |
| Total Equity | $-9.94M | $-10.79M | $-9.83M | $-899.00K | $7.25M | $18.05M | $27.43M | $36.72M | $55.54M | $-20.68M | $55.94M | $-6.76K | $-605 |
| Total Liabilities and Stockholders Equity | $10.72M | $11.60M | $12.81M | $22.94M | $28.22M | $37.10M | $40.29M | $50.96M | $57.80M | $9.73M | $58.02M | $- | $- |
| Minority Interest | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities and Total Equity | $10.72M | $11.60M | $12.81M | $22.94M | $28.22M | $37.10M | $40.29M | $50.96M | $57.80M | $9.73M | $58.02M | $- | $- |
| Total Investments | $- | $- | $- | $- | $- | $- | $- | $- | $57.51M | $57.51M | $57.50M | $- | $1.51K |
| Total Debt | $14.31M | $14.21M | $14.54M | $14.88M | $14.79M | $14.69M | $9.60M | $9.51M | $- | $- | $- | $- | $- |
| Net Debt | $7.71M | $8.02M | $8.47M | $-860.00K | $-7.52M | $-14.99M | $-22.07M | $-31.06M | $-248.46K | $-2.12M | $-392.90K | $-123 | $757 |
Annual Cash Flow
| Breakdown | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 |
|---|---|---|---|---|
| Net Income | $-39.76M | $-40.34M | $-6.39M | $-5.78M |
| Depreciation and Amortization | $2.73M | $1.62M | $75.00K | $72.00K |
| Deferred Income Tax | $- | $-152.00K | $152.00K | $505 |
| Stock Based Compensation | $1.82M | $646.00K | $233.00K | $84.00K |
| Change in Working Capital | $6.27M | $-2.34M | $306.00K | $-589.00K |
| Accounts Receivables | $- | $- | $- | $- |
| Inventory | $- | $- | $- | $- |
| Accounts Payables | $1.51M | $1.01M | $181.00K | $-68.00K |
| Other Working Capital | $4.76M | $-3.35M | $125.00K | $-521.00K |
| Other Non Cash Items | $9.00K | $9.74M | $-153.00K | $-505 |
| Net Cash Provided by Operating Activities | $-28.93M | $-30.82M | $-5.77M | $-6.22M |
| Investments in Property Plant and Equipment | $-106.00K | $-1.07M | $-2.31M | $-2.74M |
| Acquisitions Net | $- | $- | $- | $- |
| Purchases of Investments | $- | $- | $- | $- |
| Sales Maturities of Investments | $- | $- | $- | $- |
| Other Investing Activities | $-1.07M | $-1.02K | $-2.29K | $-2.69K |
| Net Cash Used for Investing Activities | $-1.18M | $-1.07M | $-2.31M | $-2.74M |
| Debt Repayment | $5.00M | $28.68M | $- | $5.00M |
| Common Stock Issued | $257.00K | $-14.87M | $- | $- |
| Common Stock Repurchased | $- | $- | $- | $- |
| Dividends Paid | $- | $- | $- | $- |
| Other Financing Activities | $284.00K | $43.66M | $7.45M | $3.70M |
| Net Cash Used Provided by Financing Activities | $5.28M | $72.33K | $7.45M | $8.70M |
| Effect of Forex Changes on Cash | $- | $- | $- | $- |
| Net Change in Cash | $-24.83M | $40.44M | $-634.00K | $-253.00K |
| Cash at End of Period | $15.74M | $40.57M | $123.00K | $757.00K |
| Cash at Beginning of Period | $40.57M | $123.00K | $757.00K | $1.01M |
| Operating Cash Flow | $-28.93M | $-30.82M | $-5.77M | $-6.22M |
| Capital Expenditure | $-1.18M | $-1.07M | $-2.31M | $-2.74M |
| Free Cash Flow | $-30.11M | $-31.89M | $-8.08M | $-8.95M |
Cash Flow Charts
| Breakdown | September 30, 2023 | June 30, 2023 | March 31, 2023 | December 31, 2022 | September 30, 2022 | June 30, 2022 | March 31, 2022 | December 31, 2021 | September 30, 2021 | June 30, 2021 | March 31, 2021 | December 31, 2020 | September 30, 2020 | June 30, 2020 | March 31, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $-5.86M | $-7.59M | $-9.36M | $-8.77M | $-11.40M | $-9.93M | $-9.66M | $-39.78M | $13.43M | $-8.65M | $-5.33M | $-1.75K | $-2.17K | $-1.06K | $-1.41K |
| Depreciation and Amortization | $841.00K | $797.00K | $755.00K | $721.00K | $694.00K | $651.00K | $663.00K | $1.62K | $526 | $526.00K | $16.00K | $15 | $18 | $21 | $21 |
| Deferred Income Tax | $-5.86M | $-7.59M | $- | $- | $- | $- | $- | $-152 | $- | $- | $-152.00K | $- | $- | $- | $- |
| Stock Based Compensation | $427.00K | $478.00K | $423 | $449.00K | $608.00K | $412.00K | $366.00K | $646 | $23 | $28.00K | $34.00K | $41 | $162 | $15 | $15 |
| Change in Working Capital | $-1.35M | $1.23M | $-524.00K | $1.26M | $3.09M | $2.15M | $-231.00K | $-2.54M | $-563.13K | $440.00K | $323.00K | $- | $- | $- | $- |
| Accounts Receivables | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Inventory | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Accounts Payables | $-677.00K | $472.00K | $-522.00K | $1.78M | $167.00K | $353.00K | $-788.00K | $1.01K | $- | $755.00K | $135.00K | $- | $- | $- | $- |
| Other Working Capital | $-672.00K | $755.00K | $-2.00K | $-522.00K | $- | $2.15M | $557.00K | $-2.54M | $-563.13K | $-315.00K | $188.00K | $- | $- | $- | $- |
| Other Non Cash Items | $5.86M | $7.59M | $409.58K | $- | $3.69K | $2.55K | $9.00K | $11.86M | $-5.12M | $2.17M | $2.49M | $195 | $588 | $63 | $-308 |
| Net Cash Provided by Operating Activities | $-5.94M | $-5.09M | $-8.72M | $-6.34M | $-7.01M | $-6.71M | $-8.86M | $-30.46M | $7.74M | $-5.48M | $-2.62M | $-1.54K | $-1.56K | $-972 | $-1.70K |
| Investments in Property Plant and Equipment | $-5.00K | $-503.00K | $-26.00K | $-14.00K | $-374.00K | $-418.00K | $-39.00K | $-1.07K | $-18 | $- | $-582.00K | $-1 | $-10 | $- | $-6 |
| Acquisitions Net | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Purchases of Investments | $- | $- | $- | $- | $- | $- | $- | $57.50M | $- | $- | $-57.50M | $- | $- | $- | $- |
| Sales Maturities of Investments | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Investing Activities | $71.00K | $-503 | $-495.00K | $-346.00K | $-340 | $-377 | $- | $56.43M | $-56.92M | $1.00K | $-582 | $-573 | $-543 | $-577 | $-595 |
| Net Cash Used for Investing Activities | $66.00K | $-503.00K | $-521.00K | $-360.00K | $-374.00K | $-418.00K | $-39.00K | $56.43M | $-56.92M | $1.00K | $-582.00K | $-574 | $-553 | $-577 | $-601 |
| Debt Repayment | $- | $- | $-435.00K | $- | $- | $5.00M | $- | $28.74M | $8.00M | $6.00M | $4.67M | $- | $- | $- | $- |
| Common Stock Issued | $6.28M | $6.14M | $- | $- | $- | $145.00K | $1.00K | $-73.01M | $- | $- | $58.14M | $- | $- | $- | $- |
| Common Stock Repurchased | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Dividends Paid | $- | $- | $- | $- | $- | $-394.00K | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Financing Activities | $6.28M | $5.72M | $- | $132.00K | $6.00K | $145.00K | $1.00K | $-14.49M | $- | $- | $- | $1.63M | $2.23K | $1.54K | $2.05K |
| Net Cash Used Provided by Financing Activities | $6.28M | $5.72M | $-435.00K | $132.00K | $6.00K | $5.14M | $1.00K | $53.66K | $8.00K | $6.00K | $4.67K | $1.63K | $2.23K | $1.54K | $2.05K |
| Effect of Forex Changes on Cash | $- | $-7.72M | $- | $- | $- | $- | $- | $-1.90K | $-98.24K | $- | $- | $- | $- | $- | $- |
| Net Change in Cash | $402.00K | $128.00K | $-9.67M | $-6.57M | $-7.38M | $-1.99M | $-8.89M | $40.32M | $-1.87M | $519.00K | $1.48M | $-485 | $111 | $-9 | $-251 |
| Cash at End of Period | $6.60M | $6.20M | $6.07M | $15.74M | $22.30M | $29.68M | $31.67M | $40.57M | $248.46K | $2.12M | $1.60M | $123 | $608 | $497 | $506 |
| Cash at Beginning of Period | $6.20M | $6.07M | $15.74M | $22.30M | $29.68M | $31.67M | $40.57M | $248.46K | $2.12M | $1.60M | $123.00K | $608 | $497 | $506 | $757 |
| Operating Cash Flow | $-5.94M | $-5.09M | $-8.72M | $-6.34M | $-7.01M | $-6.71M | $-8.86M | $-30.46M | $7.74M | $-5.48M | $-2.62M | $-1.54K | $-1.56K | $-972 | $-1.70K |
| Capital Expenditure | $-5.00K | $-503.00K | $-521.00K | $-360.00K | $-374.00K | $-418.00K | $-39.00K | $-1.07K | $-18 | $- | $-582.00K | $-1 | $-10 | $- | $-6 |
| Free Cash Flow | $-5.95M | $-5.59M | $-9.24M | $-6.70M | $-7.39M | $-7.13M | $-8.89M | $-30.46M | $7.74M | $-5.48M | $-3.20M | $-1.54K | $-1.57K | $-972 | $-1.71K |
Better Therapeutics, Inc. engages in developing software-based prescription digital therapeutics (PDT) platform candidates for treating diabetes, heart disease, and other cardiometabolic conditions in the United States. Its lead product candidate in development is BT-001, an investigational PDT platform that uses digitally delivered Nutritional Cognitive Behavioral Therapy to treat type 2 diabetes. The company's products under development also include BT-002, a PDT that help patients with hypertension improve their blood pressure; and BT-003, a PDT that help patients with hyperlipidemia enhance cholesterol levels. Better Therapeutics, Inc. was founded in 2015 and is headquartered in San Francisco, California.
$0.00
Stock Price
$10.90K
Market Cap
54
Employees
San Francisco, CA
Location
Revenue (FY )
$-
0.0% YoY
Net Income (FY )
$-
1.4% YoY
EPS (FY )
$
1.2% YoY
Free Cash Flow (FY )
$-
5.6% YoY
Profitability
Gross Margin
0.0%
Net Margin
0.0%
ROE
4422.7%
ROA
-173.3%
Valuation
P/E Ratio
-0.66
P/S Ratio
0.00
EV/EBITDA
-0.66
Market Cap
$10.90K
Revenue & Net Income
Profit Margins
Cash Flow Summary
Operating Cash Flow
$-
6.1% YoY
Free Cash Flow
$-
5.6% YoY
Balance Sheet Summary
Total Assets
$-
-55.0% YoY
Total Debt
$-
56.5% YoY
Shareholder Equity
$-
-102.5% YoY
Dividend Overview
No Dividend Data
Better Therapeutics, Inc. doesn't currently pay dividends.
Better Therapeutics Dividends
Explore Better Therapeutics's dividend history, including dividend yield, payout ratio, and historical payments.
Better Therapeutics News
Read the latest news about Better Therapeutics, including recent articles, headlines, and updates.
Click Therapeutics Accelerates Expansion into Obesity and Cardiometabolic Disease With Acquisition of the Assets of Better Therapeutics, Inc.
NEW YORK--(BUSINESS WIRE)--Click Therapeutics Accelerates Expansion into Obesity and Cardiometabolic Disease With Acquisition of the Assets of Better Therapeutics, Inc.
Better Therapeutics Announces it will Seek Strategic Alternatives and will be Delisted from Nasdaq
SAN FRANCISCO--(BUSINESS WIRE)---- $BTTX #digitalhealth--Better Therapeutics, Inc. (NASDAQ: BTTX) (the “Company”) announced today that the Company is terminating its employees and will explore strategic alternatives, including assignment for the benefit of creditors and/or a wind-down of the Company. This decision was made at a special meeting of the board of directors on Wednesday evening, March 13, 2024. Further, as previously disclosed, the Company's securities are subject to delisting from the Nasdaq Stock Market u.
Better Therapeutics Announces an Innovative Partnership with the American College of Lifestyle Medicine to Expand Access to AspyreRx Across 1,400 Federally Qualified Health Centers
SAN FRANCISCO--(BUSINESS WIRE)---- $BTTX #digitalhealth--Better Therapeutics, Inc. (NASDAQ: BTTX), a pioneer in developing prescription digital therapeutics (PDTs) for treating cardiometabolic diseases, today announced a major partnership with the American College of Lifestyle Medicine's (ACLM) National Training Initiative (NTI), aimed at improving diabetes outcomes in underserved communities across the United States. Through this partnership, Better Therapeutics is committed to making one million prescriptions of its.
Better Therapeutics Announces Acceptance of Late Breaking Abstract for Its AspyreRx Pivotal Trial 180 Day Outcomes and Participation at the 17th International Conference on Advanced Technologies & Treatments for Diabetes (ATTD)
SAN FRANCISCO--(BUSINESS WIRE)---- $BTTX #digitalhealth--Better Therapeutics, Inc. (NASDAQ: BTTX), a pioneer in developing prescription digital therapeutics (PDTs) for treating cardiometabolic diseases, today announced the acceptance of a late-breaking abstract presenting 180-day outcomes data and its participation at the 17th International Conference on Advanced Technologies & Treatments for Diabetes (ATTD), to be held from March 6 to 9, 2024, in Florence, Italy. ATTD serves as a premier international forum showca.
Better Therapeutics and Biotricity Interviews to Air on the RedChip Small Stocks, Big Money(TM) Show on Bloomberg TV
ORLANDO, FL / ACCESSWIRE / March 1, 2024 / RedChip Companies will air interviews with Better Therapeutics, Inc. (Nasdaq:BTTX) and Biotricity, Inc. (Nasdaq:BTCY) on the RedChip Small Stocks, Big Money™ show, a sponsored program on Bloomberg TV, this Saturday, March 2, at 7 p.m. Eastern Time (ET).
Better Therapeutics Receives FDA Breakthrough Device Designation for Digital Therapeutic Platform Targeting Advanced Liver Disease
SAN FRANCISCO--(BUSINESS WIRE)---- $BTTX #digitalhealth--Better Therapeutics, Inc. (NASDAQ: BTTX), a pioneer in developing prescription digital therapeutics (PDTs) for treating cardiometabolic diseases, today announced that the U.S. Food and Drug Administration (FDA) has granted Breakthrough Device Designation for its novel Cognitive Behavioral Therapy (CBT) platform intended to treat adults with metabolic dysfunction-associated steatohepatitis (MASH), formerly known as NASH. Breakthrough status is reserved for technol.
Better Therapeutics Signs Rebate Agreement with One of the Largest Pharmacy Benefit Managers in the US for its AspyreRx Diabetes Treatment
SAN FRANCISCO--(BUSINESS WIRE)---- $BTTX #digitalhealth--Better Therapeutics Inc. (NASDAQ: BTTX), a pioneer in developing prescription digital therapeutics (PDTs) for treating cardiometabolic diseases, today announced that it has entered into a rebate agreement with one of the nation's leading Pharmacy Benefit Managers (PBMs) negotiating on behalf of over 70 million lives in the US. The rebate agreement, effective January 1, 2024, applies to the PBM's commercial book of business and provides plan participants of the PB.
Better Therapeutics Announces Publication of Cost-Effectiveness Analysis Demonstrating AspyreRx is More Effective and Less Costly than Standard of Care Alone
SAN FRANCISCO--(BUSINESS WIRE)---- $BTTX #digitalhealth--Better Therapeutics Inc. (NASDAQ: BTTX), a pioneer in developing prescription digital therapeutics (PDTs) for treating cardiometabolic diseases, today announced the publication of health economic data for its prescription-only digital behavioral treatment for type 2 diabetes (T2D), AspyreRx. The study, titled "Cost-Effectiveness Analysis of a Prescription Digital Therapeutic in Type 2 Diabetes'' has been published in Advances in Therapy, a prominent peer-reviewed.
Better Therapeutics and Glooko Announce Partnership to Accelerate Adoption of AspyreRx to Treat Type 2 Diabetes in the United States
SAN FRANCISCO & PALO ALTO, Calif.--(BUSINESS WIRE)---- $BTTX #digitalhealth--Better Therapeutics Inc., a pioneer in developing prescription digital therapeutics (PDTs) for treating cardiometabolic diseases, and Glooko, Inc., a global leader in chronic condition management, today announced a partnership to integrate Better Therapeutics' AspyreRx™ digital behavioral treatment for type 2 diabetes (T2D) into Glooko's diabetes management platform. This collaboration will enable healthcare providers in the United States who.
Better Therapeutics Announces Submission for FDA Breakthrough Device Designation for Digital Therapeutic Platform to Treat Liver Disease
SAN FRANCISCO--(BUSINESS WIRE)---- $BTTX #digitalhealth--Better Therapeutics, Inc. (NASDAQ: BTTX), a pioneer in developing prescription digital therapeutics (PDTs) to treat cardiometabolic diseases, today announced it has submitted a request to the U.S. Food and Drug Administration (FDA) for Breakthrough Device Designation for its novel PDT designed to treat metabolic dysfunction-associated steatotic liver disease (MASLD) and metabolic dysfunction-associated steatohepatitis (MASH), formerly known as NAFLD and NASH. MAS.
Better Therapeutics Strengthens Financial Position Through Amendment to Debt Facility and Implementation of Cost Reductions
SAN FRANCISCO--(BUSINESS WIRE)---- $BTTX #digitalhealth--Better Therapeutics, Inc. (NASDAQ: BTTX), a pioneer in developing prescription digital therapeutics (PDTs) to treat cardiometabolic diseases, today disclosed several initiatives aimed at extending the company's cash runway sufficiently to demonstrate commercial traction with its lead product, AspyreRx. The company launched AspyreRx in October of this year, after receiving U.S. Food and Drug Administration (FDA) authorization in July for the treatment of adults wi.
Frost & Sullivan Honors Better Therapeutics with the 2023 Technology Innovation Leadership Award
SAN FRANCISCO--(BUSINESS WIRE)---- $BTTX #digitalhealth--Better Therapeutics, Inc. (NASDAQ: BTTX), a pioneer in developing prescription digital therapeutics (PDTs) to treat cardiometabolic diseases, today announced it has been awarded Frost & Sullivan's prestigious 2023 Best Practices Technology Innovation Leadership Award in the North American diabetes digital behavioral therapeutics industry. Frost & Sullivan's team of industry analysts conducted extensive research and in-depth interviews to evaluate multiple.
Better Therapeutics Reports Third Quarter 2023 Financial Results and Provides Business Updates
SAN FRANCISCO--(BUSINESS WIRE)---- $BTTX #digitalhealth--Better Therapeutics, Inc. (NASDAQ: BTTX), a pioneer in developing prescription digital therapeutics to treat cardiometabolic diseases, today reported financial results for the third quarter 2023 and provided an update on progress towards achieving key corporate milestones. "We made tremendous progress in Q3, which included the FDA authorization of AspyreRx and the completion of the work required for a commercial launch in early October. AspyreRx offers healthcare.
Better Therapeutics to Release Third Quarter 2023 Financial Results and Provide Business Update on November 09, 2023
SAN FRANCISCO--(BUSINESS WIRE)---- $BTTX #digitalhealth--Better Therapeutics, Inc. (NASDAQ: BTTX), a pioneer in developing prescription digital therapeutics to treat cardiometabolic diseases, today announced it will release its third quarter 2023 financial results before the market opens on Thursday, November 09, 2023. Management will host a conference call and webcast to provide a business update at 8:30 a.m. ET / 5:30 a.m. PT on Thursday, November 09, 2023. To access the conference call, please register at: https://r.
Better Therapeutics to Participate in the American College of Lifestyle Medicine's 2023 Annual Conference
SAN FRANCISCO--(BUSINESS WIRE)---- $BTTX #digitalhealth--Better Therapeutics, Inc. (NASDAQ: BTTX), a pioneer in developing prescription digital therapeutics (PDTs) to treat cardiometabolic diseases, today announced its participation in the American College of Lifestyle Medicine's (ACLM) 2023 Lifestyle Medicine Annual Conference (LM2023), to be held October 29 to November 1, 2023, in Denver, Colorado. The conference brings together medical professionals, including physicians, healthcare executives, academic faculty, and.
Better Therapeutics Announces Publication of LivVita Liver Disease Study Results in Gastro Hep Advances
SAN FRANCISCO--(BUSINESS WIRE)---- $BTTX #digitalhealth--Better Therapeutics, Inc. (NASDAQ: BTTX), a pioneer in developing prescription digital therapeutics (PDTs) to treat cardiometabolic diseases, today announced the pre-print publication of the LivVita study's results in Gastro Hep Advances, a peer reviewed journal produced by the American Gastroenterological Association (AGA). The study successfully met its primary endpoint by reducing liver fat within 90 days, while also achieving key secondary endpoints related t.
Better Therapeutics Completes Enrollment in Real-World Evidence Program Evaluating Long-term Effectiveness of AspyreRx in Type 2 Diabetes
SAN FRANCISCO--(BUSINESS WIRE)---- $BTTX #digitalhealth--Better Therapeutics, Inc. (NASDAQ: BTTX), a pioneer in developing prescription digital therapeutics (PDTs) to treat cardiometabolic diseases, today announced it has completed the enrollment of 1,000 participants across two studies as part of its ongoing clinical program to evaluate the long-term effectiveness of AspyreRxTM (formerly BT-001). AspyreRx received FDA authorization in July 2023 as the first PDT to deliver Cognitive Behavioral Therapy (CBT) to treat ad.
Better Therapeutics, Inc. (BTTX) Q2 2023 Earnings Call Transcript
Better Therapeutics, Inc. (NASDAQ:BTTX ) Q2 2023 Earnings Conference Call August 9, 2023 4:30 PM ET Company Participants Mark Heinen - Chief Financial Officer Frank Karbe - President and CEO Diane Gomez - Chief Commercial Officer Mark Berman - Chief Medical Officer Conference Call Participants Thomas Flaten - Lake Street Capital Markets Keay Nakae - Chardan Rahul Rakhit - LifeSci Capital Operator Good day and thank you for standing by, and welcome to the Better Therapeutics' Second Quarter 2023 Update Call. At this time all participants are in a listen-only mode.
Better Therapeutics Reports Second Quarter 2023 Financial Results and Provides Business Updates
SAN FRANCISCO--(BUSINESS WIRE)---- $BTTX #digitalhealth--Better Therapeutics, Inc. (NASDAQ: BTTX), a pioneer in developing prescription digital therapeutics to treat cardiometabolic diseases, today reported financial results for the second quarter 2023 and provided an update on progress towards achieving key corporate milestones. “Obtaining FDA authorization for AspyreRx was a pivotal milestone for our company and a catalyst for strengthening our financial position and advancing business development discussions,” said.
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Better Therapeutics to Release Second Quarter 2023 Financial Results and Provide Business Update on August 09, 2023
SAN FRANCISCO--(BUSINESS WIRE)---- $BTTX #digitalhealth--Better Therapeutics, Inc. (NASDAQ: BTTX), a pioneer in developing prescription digital therapeutics to treat cardiometabolic diseases, today announced it will release its second quarter 2023 financial results after the market closes on Wednesday, August 09, 2023. Management will host a conference call and webcast to provide a business update at 4:30 p.m. ET / 1:30 p.m. PT on Wednesday, August 09, 2023. To access the conference call, please register at: https://re.
Why Is Better Therapeutics (BTTX) Stock Up 39% Today?
Better Therapeutics (NASDAQ: BTTX ) stock is taking off on Tuesday as investors react to approval from the FDA for a Type 2 diabetes treatment. This covers AspyreRx, which is a prescription-only digital therapeutic treatment for patients 18 and older with Type 2 diabetes.
Better Therapeutics Receives FDA Authorization for AspyreRx™ to Treat Adults with Type 2 Diabetes
SAN FRANCISCO--(BUSINESS WIRE)---- $BTTX #digitalhealth--Better Therapeutics, Inc. (NASDAQ: BTTX), a pioneer in developing software to treat cardiometabolic diseases, today announced that the Food and Drug Administration (FDA) authorized AspyreRx™ (formerly BT-001), a prescription-only digital therapeutic (PDT) treatment indicated to provide cognitive behavioral therapy to patients 18 years or older with type 2 diabetes (T2D). AspyreRx was reviewed through the FDA's De Novo pathway and its authorization creates a new c.
Better Therapeutics, Inc. (BTTX) Q1 2023 Earnings Call Transcript
Better Therapeutics, Inc. (NASDAQ:BTTX ) Q1 2023 Earnings Conference Call May 11, 2023 8:30 AM ET Company Participants Mark Heinen - CFO Frank Karbe - President and CEO Diane Gomez - Chief Commercial Officer Mark Berman - Chief Medical Officer Conference Call Participants Thomas Flaten - Lake Street Capital Markets Lucas Romanski - TD Cowen Keay Nakae - Chardan Keay Rahul Rakhit - LifeSci Capital Operator Good morning and thank you for standing by, and welcome to the Better Therapeutics' First Quarter 2023 Conference Call. At this time all participants are in a listen-only mode.
Better Therapeutics, Inc. (BTTX) Q3 2022 - Earnings Call Transcript
Better Therapeutics, Inc. (NASDAQ:BTTX ) Q3 2022 Earnings Conference Call November 14, 2022 4:30 PM ET Company Participants Mark Heinen - Chief Financial Officer Frank Karbe - President and Chief Executive Officer Mark Berman - Chief Medical Officer Diane Gómez-Thinnes - Chief Commercial Officer Conference Call Participants Thomas Flaten - Lake Street Capital Markets Rahul Rakhit - LifeSci Capital Keay Nakae - Chardan Operator Good afternoon, and welcome to the Better Therapeutics Third Quarter 2022 Financial Results and Business Update Conference Call. At this time, all participants are in a listen-only mode.
Better Therapeutics, Inc. (BTTX) CEO Frank Karbe on Q2 2022 Results - Earnings Call Transcript
Better Therapeutics, Inc. (NASDAQ:BTTX ) Q2 2022 Earnings Conference Call August 11, 2022 8:30 AM ET Company Participants Mark Heinen – Chief Financial Officer Frank Karbe – President and Chief Executive Officer Mark Berman – Chief Medical Officer Conference Call Participants Thomas Flaten – Lake Street Capital Rahul Rakhit – LifeSci Capital Keay Nakae – Chardan Operator Good morning, and welcome to the Better Therapeutics Second Quarter 2022 Financial Results and Business Update Conference Call. At this time, all participants are in a listen-only mode.
Better Therapeutics Reports Second Quarter 2022 Financial Results and Provides Corporate Update
SAN FRANCISCO--(BUSINESS WIRE)--Better Therapeutics, Inc. (NASDAQ: BTTX), a prescription digital therapeutics (PDT) company developing nutritional cognitive behavioral therapy (nCBT) to address the root causes of cardiometabolic diseases, today reported financial results for the second quarter of 2022 and provided an update on progress toward achieving key corporate milestones. “Better Therapeutics is poised to enter the next phase of its growth as a commercial company, with the recent completion of the BT-001 pivotal trial and, if authorized by the FDA, the potential launch of our first-in-class prescription digital therapeutic for the treatment of type 2 diabetes next year,” stated Frank Karbe, President and CEO of Better Therapeutics. “The pivotal trial of BT-001 met its primary and secondary endpoints and demonstrated a reassuring safety profile in a diverse and difficult to treat patient population, resulting in significant A1c reductions when compared with the current standard of care. We are on track to submit a de novo classification request for BT-001 with the FDA in the third quarter of 2022 and we believe we are well positioned to advance our digital therapeutic platform in type 2 diabetes and potentially other cardiometabolic conditions.” Recent Business Highlights Completed BT-001 Pivotal Clinical Trial: Reported positive secondary endpoint results in July, following the announcement of positive primary endpoint results in March. The secondary endpoint evaluated the effectiveness and safety of the company’s investigational nCBT for the treatment of adult patients with uncontrolled type 2 diabetes (T2D) after 180 days of treatment. Among the encouraging results shown were: Sustained and improved A1c levels in patients using BT-001, with average absolute A1c reduction improving from 0.3% at day 90 to 0.4% at day 180, supporting that the treatment effects of BT-001 were durable. The difference in A1c levels after 180 days of treatment between BT-001 treated patients and Standard of Care (SOC) control group patients receiving standard of care remained statistically significant (p=0.01) even as more SOC patients increased blood sugar lowering medications. Half of patients using BT-001 experienced clinically meaningful A1c reductions with a mean reduction of 1.3% in this subgroup at 180 days (SD 0.8%). Results indicated that patients who did not use BT-001 were more likely to be placed on additional medications to improve A1c control. After the day 180 A1c draw, 1.7 times more SOC control patients increased their medications compared to BT-001 patients. BT-001 demonstrated reassuring safety, with significantly fewer adverse (p<0.001) and serious adverse events (p=0.01) as compared to the SOC control group. A clear dose-response between greater engagement in nCBT and greater reductions in A1c was found, supporting nCBT as a mechanism of action. Sustained and improved A1c levels in patients using BT-001, with average absolute A1c reduction improving from 0.3% at day 90 to 0.4% at day 180, supporting that the treatment effects of BT-001 were durable. The difference in A1c levels after 180 days of treatment between BT-001 treated patients and Standard of Care (SOC) control group patients receiving standard of care remained statistically significant (p=0.01) even as more SOC patients increased blood sugar lowering medications. Half of patients using BT-001 experienced clinically meaningful A1c reductions with a mean reduction of 1.3% in this subgroup at 180 days (SD 0.8%). Results indicated that patients who did not use BT-001 were more likely to be placed on additional medications to improve A1c control. After the day 180 A1c draw, 1.7 times more SOC control patients increased their medications compared to BT-001 patients. BT-001 demonstrated reassuring safety, with significantly fewer adverse (p<0.001) and serious adverse events (p=0.01) as compared to the SOC control group. A clear dose-response between greater engagement in nCBT and greater reductions in A1c was found, supporting nCBT as a mechanism of action. Completed Enrollment in the LivVita Liver Study for Nonalcoholic Fatty Liver Disease (NAFLD) and Nonalcoholic Steatohepatitis (NASH): The company completed enrollment in a first ever clinical study evaluating the feasibility of nCBT to reduce liver fat and improve liver disease biomarkers as a potential treatment for fatty liver disease. This single arm interventional cohort study has now completed enrollment of 22 adult patients from two specialized liver treatment clinics based in Arizona. NAFLD/NASH affects over 64 million adults in the U.S., resulting in over $100 billion in direct healthcare costs annually. There are currently no FDA approved therapeutics for treating NASH/NAFLD. CEO Appointment: Frank Karbe joined the company as President and Chief Executive Officer and as a member of the Board of Directors on July 5, 2022, succeeding Kevin Appelbaum. Frank is a widely experienced senior executive with extensive leadership and capital raising expertise, serving most recently as President and Chief Financial Officer of Myovant Sciences. Previously, he served for over a decade as Executive Vice President and Chief Financial Officer at Exelixis, Inc. Earlier in his career, he worked as an investment banker for Goldman Sachs & Co. focusing on the life sciences industry. Granted Patent on Prescription Digital Therapeutics Platform: In June 2022, the U.S. Patent and Trademark Office (USPTO) granted patent protection for several key features (methods and apparatus for generating and monitoring a therapy regimen) core to the company’s digital therapeutics platform, designed to help treat cardiometabolic diseases through the delivery of digital behavioral therapy as a PDT. Better Therapeutics’ patent coverage for its platform will extend until at least September of 2039. Publication of BT-001 Pivotal Clinical Trial Design: A manuscript detailing the study design and methodology for the company’s pivotal clinical trial of BT-001 in adult patients with T2D was published in the medical journal, Clinical Cardiology in July. Expected Upcoming Milestones BT-001 De Novo Submission: Based on positive primary and secondary endpoint data from the BT-001 pivotal clinical trial, Better Therapeutics expects to submit a de novo classification request with the FDA in the third quarter of 2022, seeking marketing authorization of BT-001 for the treatment of adult patients with T2D. Health Economic Model for BT-001 and Payer Coverage Discussions: The company expects to complete its health economic models for BT-001 and plans to begin engaging payers in potential coverage discussions in the third quarter of 2022. LivVita Liver Study: Better Therapeutics is on track to complete the LivVita study and announce top-line results in the fourth quarter of 2022. The study is being conducted in collaboration with Arizona Liver Health and is evaluating the feasibility of investigational nCBT to reduce liver fat and improve liver disease biomarkers as a potential treatment for NAFLD and NASH. BT-001 Real-World Evidence Program: This randomized, controlled, multi-site program is designed to generate real-world evidence to provide additional support in the company’s payer coverage and reimbursement discussions. The program is expected to enroll approximately 1,000 patients for a treatment period of at least 12 months. Interim data is expected in 2023. Address Financing Needs: Better Therapeutics has initiated a broad assessment of potential financing options. The company expects to address its financing needs within the next six months to ensure it has the financial resources to continue to prepare for a potential commercial launch of BT-001, if authorized by the FDA, and to potentially expand its digital platform into other cardiometabolic diseases. Commercial Launch of BT-001: The company is diligently advancing its preparations for the potential commercial launch of BT-001 upon FDA authorization. Pipeline Expansion: Better Therapeutics will gather pilot data from the BT-001 pivotal study and LivVita Liver Study to inform the potential initiation of an additional pivotal trial. Pending sufficient capital, the company is targeting 2023 for commencement of this study. Second Quarter 2022 Financial Results Research and development expenses for the three months ended June 30, 2022 were $4.2 million, compared to $5.0 million for the same period in 2021. The decrease primarily reflects lower clinical study costs due to the wind down of the pivotal trial for BT-001, partially offset by an increase in personnel and consulting costs related to preparing the de novo submission for BT-001 as well as expanding our clinical research and software development capabilities. Sales and marketing expenses for the three months ended June 30, 2022 were $1.7 million, compared to $0.6 million for the same period in 2021. The increase was primarily due to higher personnel, marketing and consulting expenses associated with commercial readiness activities to support the potential launch of BT-001. General and administrative expenses for the three months ended June 30, 2022 were $3.7 million, compared to $0.9 million for the same period in 2021. The increase was primarily related to higher personnel-related costs driven by an increase in headcount and additional costs of being a publicly traded company, including a $1.1 million increase in our business insurance. Interest expense, net for the three months ended June 30, 2022 was $0.3 million, compared to $0 for the same period in 2021. The increase in interest expense, net was the result of the interest incurred on the company’s secured term loan agreement with Hercules Capital, which commenced in the fourth quarter of 2021. Net loss for the three months ended June 30, 2022 was $9.9 million, compared to $8.7 million for the same period in 2021. On a per common share basis, net loss was $0.42 and $0.84 for the three months ended June 30, 2022 and 2021, respectively. The decline in loss per share is primarily related to an increase in weighted average shares outstanding as a result of the SPAC transaction in the fourth quarter of 2021. Capital resources: Cash and cash equivalents were $29.7 million on June 30, 2022, compared to $40.6 million on December 31, 2021. Conference Call and Webcast Better Therapeutics will host a conference call and webcast today, August 11, 2022, at 8:30 a.m. ET / 5:30 a.m. PT. To access the conference call, please register at: https://register.vevent.com/register/BI6da59cc90fdb42a39adb1f216262cac7. Upon registering, each participant will be provided with call details and access codes. All participants are encouraged to join 10 minutes prior to the start time. The live webcast may be accessed by visiting the event link at: https://edge.media-server.com/mmc/p/zcn84y83. A replay of the webcast may be accessed from the Presentations & Events page in the Investors section of the Better Therapeutics corporate website at: investors.bettertx.com. About BT-001 BT-001 is Better Therapeutics’ investigational prescription digital therapy for the treatment of T2D. The investigational therapy is delivered via software that provides a tailored experience to patients designed to help them address the underlying causes of T2D by making meaningful, sustainable behavioral changes. The BT-001 investigational therapy is rooted in the well-studied, gold standard of behavioral modification therapies, cognitive behavioral therapy (CBT). While CBT has been used for T2D and other cardiometabolic conditions before, until now the approach has not been scalable due to the need to deliver the therapy via a therapist. If authorized by FDA, BT-001 would be the first validated, prescription solution for delivering this therapeutic approach to T2D patients at scale, from their digital devices. About the Better Therapeutics nCBT Platform Better Therapeutics digital therapeutic platform is designed to delivers a novel form of CBT - nutritional CBT (nCBT) - to help people with cardiometabolic diseases potentially improve key measures related to T2D, nonalcoholic fatty liver disease, nonalcoholic steatohepatitis, hypertension, hyperlipidemia and other cardiometabolic conditions. By adapting the principles and mechanisms of cognitive behavioral therapy, the digital therapeutic platform is designed to address and modify the cognitive patterns that affect eating habits and other behavioral factors associated with cardiometabolic diseases. About Better Therapeutics Better Therapeutics is a prescription digital therapeutics (PDT) company developing a novel form of cognitive behavioral therapy (CBT) to address the root causes of cardiometabolic diseases. The company has developed a proprietary platform for the development of FDA-regulated, software-based solutions for type 2 diabetes, heart disease and other conditions. The CBT delivered by Better Therapeutics’ PDT is designed to enable changes in neural pathways of the brain so lasting changes in behavior become possible. Addressing the underlying causes of these diseases has the potential to dramatically improve patient health while lowering healthcare costs. Better Therapeutics’ clinically validated mobile applications, if authorized for marketing, are intended to be prescribed by physicians and reimbursed like traditional medicines. For more information visit: bettertx.com Forward-Looking Statements Certain statements made in this press release are "forward-looking statements" within the meaning of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words such as “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements in this press release include, but are not limited to, statements regarding clinical trial of BT-001 in patients with type 2 diabetes, Better Therapeutics’ plans regarding FDA submissions, plans and expectations regarding the commercialization of BT-001, if authorized, expectations related to the potential benefits of BT-001 and CBT and their potential treatment applications, Better Therapeutics’ plans regarding the research and advancement of its product candidates for additional treatments, and expectations related to the interest of healthcare providers and payers in PDTs, including BT-001, among others. These forward-looking statements are based on the current expectations of the management of Better Therapeutics and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements including: risks related to Better Therapeutics’ business, such as the willingness of the FDA to authorize PDTs, including BT-001, for commercial distribution and insurance companies to reimburse their use, market acceptance of PDTs, including BT-001, the risk that the results of previously conducted studies will not be repeated or observed in ongoing or future studies involving the company’s product candidates and other risks and uncertainties included under the header “Risk Factors” in the Better Therapeutics’ annual report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission (“SEC”) on March 28, 2022, and those that are included in any of the company's future filings with the SEC. BETTER THERAPEUTICS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited, in thousands, except share and per share data) Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Operating Expenses: Research and development $ 4,241 $ 5,038 $ 7,914 $ 6,416 Sales and marketing 1,683 564 3,727 607 General and administrative 3,675 872 7,303 2,439 Total operating expenses 9,599 6,474 18,944 9,462 Loss from operations (9,599 ) (6,474 ) (18,944 ) (9,462 ) Interest expense, net (329 ) (1 ) (646 ) (2 ) Change in fair value of SAFEs — (2,821 ) — (5,313 ) Gain on loan forgiveness — 647 — 647 Loss before provision (benefit) from income taxes (9,928 ) (8,649 ) (19,590 ) (14,130 ) Provision (benefit) from income taxes — 1 — (150 ) Net loss $ (9,928 ) $ (8,650 ) $ (19,590 ) $ (13,980 ) Cumulative preferred dividends allocated to Series A Preferred Shareholders — (394 ) — (782 ) Net loss attributable to common shareholders, basic and diluted $ (9,928 ) $ (9,044 ) $ (19,590 ) $ (14,762 ) Net loss per share attributable to common shareholders, basic and diluted $ (0.42 ) $ (0.84 ) $ (0.83 ) $ (1.38 ) Weighted-average shares used in computing net loss per share 23,592,995 10,730,818 23,498,978 10,707,996 BETTER THERAPEUTICS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (Unaudited) June 30, December 31, 2022 2021 ASSETS Current assets: Cash and cash equivalents $ 29,685 $ 40,566 Prepaid expenses 2,380 4,409 Other current assets 72 276 Total current assets 32,137 45,251 Capitalized software development costs, net 4,364 5,077 Property and equipment, net 115 82 Other long-term assets 487 548 Total Assets $ 37,103 $ 50,958 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 1,088 $ 1,523 Accrued payroll 2,074 1,352 Other accrued expenses 1,196 1,858 Current portion of long-term debt 1,783 — Total current liabilities 6,141 4,733 Long-term debt, net of current portion and debt issuance costs 12,908 9,505 Total liabilities 19,049 14,238 Stockholders’ equity: Common stock 2 2 Additional paid-in capital 109,385 108,461 Accumulated deficit (91,333 ) (71,743 ) Total Stockholders’ Equity 18,054 36,720 Total Liabilities and Stockholders’ Equity $ 37,103 $ 50,958
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