$BTAI
BioXcel Therapeutics, Inc.

2021 Q4 Form 10-K Financial Statement

#000155837022003335 Filed on March 11, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $13.61M $54.23M $9.700M
YoY Change 40.27% 123.16% 405.21%
% of Gross Profit
Research & Development $12.53M $52.71M $11.40M
YoY Change 9.87% -9.12% 75.38%
% of Gross Profit
Depreciation & Amortization $76.00K $297.0K $50.00K
YoY Change 52.0% 57.98% -183.33%
% of Gross Profit
Operating Expenses $26.13M $106.9M $21.10M
YoY Change 23.84% 29.94% 150.89%
Operating Profit -$106.9M
YoY Change 29.94%
Interest Expense $6.000K $40.00K $10.00K
YoY Change -40.0% 48.15% -92.86%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$26.13M -$106.9M -$21.09M
YoY Change 23.87% 30.13% 154.71%
Income Tax
% Of Pretax Income
Net Earnings -$26.13M -$106.9M -$21.09M
YoY Change 23.87% 30.14% 154.71%
Net Earnings / Revenue
Basic Earnings Per Share -$4.05
Diluted Earnings Per Share -$933.2K -$4.05 -$864.7K
COMMON SHARES
Basic Shares Outstanding 27.98M 26.37M
Diluted Shares Outstanding 26.37M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $233.0M $233.0M $213.1M
YoY Change 9.32% 9.32% 557.72%
Cash & Equivalents $233.0M $233.0M $213.1M
Short-Term Investments
Other Short-Term Assets $956.0K $3.844M $984.0K
YoY Change -2.85% -1.44% -42.12%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $236.8M $236.8M $217.1M
YoY Change 9.1% 9.08% 536.55%
LONG-TERM ASSETS
Property, Plant & Equipment $1.294M $2.541M $1.273M
YoY Change 1.65% -9.25% -42.14%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $86.00K $86.00K $87.00K
YoY Change -1.15% -14.0% -13.0%
Total Long-Term Assets $2.627M $2.627M $2.871M
YoY Change -8.5% -6.18% 24.83%
TOTAL ASSETS
Total Short-Term Assets $236.8M $236.8M $217.1M
Total Long-Term Assets $2.627M $2.627M $2.871M
Total Assets $239.4M $239.4M $219.9M
YoY Change 8.87% 8.89% 504.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.678M $4.678M $3.979M
YoY Change 17.57% 16.95% -20.42%
Accrued Expenses $11.49M $11.48M $7.469M
YoY Change 53.86% 64.04% 126.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $16.67M $16.67M $11.84M
YoY Change 40.74% 41.25% 39.32%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.105M $1.105M $1.400M
YoY Change -21.07% -21.07% 40.0%
Total Long-Term Liabilities $1.105M $1.105M $1.400M
YoY Change -21.07% -21.07% 40.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $16.67M $16.67M $11.84M
Total Long-Term Liabilities $1.105M $1.105M $1.400M
Total Liabilities $17.77M $17.77M $13.24M
YoY Change 34.23% 34.64% 39.37%
SHAREHOLDERS EQUITY
Retained Earnings -$245.8M -$138.9M
YoY Change 77.01%
Common Stock $28.00K $24.00K
YoY Change 16.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $221.7M $221.7M $206.7M
YoY Change
Total Liabilities & Shareholders Equity $239.4M $239.4M $219.9M
YoY Change 8.87% 8.89% 504.22%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$26.13M -$106.9M -$21.09M
YoY Change 23.87% 30.14% 154.71%
Depreciation, Depletion And Amortization $76.00K $297.0K $50.00K
YoY Change 52.0% 57.98% -183.33%
Cash From Operating Activities -$19.93M -$82.15M -$20.27M
YoY Change -1.67% 23.82% 155.93%
INVESTING ACTIVITIES
Capital Expenditures -$12.00K $445.0K -$270.0K
YoY Change -95.56% 40.82%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$12.00K -$445.0K -$270.0K
YoY Change -95.56% 40.82%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $101.0M
YoY Change -140.93%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 102.4M 230.0K
YoY Change -100.0% -58.58% 155.56%
NET CHANGE
Cash From Operating Activities -19.93M -82.15M -20.27M
Cash From Investing Activities -12.00K -445.0K -270.0K
Cash From Financing Activities 0.000 102.4M 230.0K
Net Change In Cash -19.94M 19.85M -20.31M
YoY Change -1.8% -89.02% 159.39%
FREE CASH FLOW
Cash From Operating Activities -$19.93M -$82.15M -$20.27M
Capital Expenditures -$12.00K $445.0K -$270.0K
Free Cash Flow -$19.92M -$82.60M -$20.00M
YoY Change -0.4% 23.9% 152.53%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2020Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2021Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q3 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2021 dei Entity Central Index Key
EntityCentralIndexKey
0001720893
CY2021 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
CY2021 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2021 dei Amendment Flag
AmendmentFlag
false
CY2020Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
24417000
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
27980000
CY2021Q4 us-gaap Operating Lease Liability Current Statement Of Financial Position Extensible List
OperatingLeaseLiabilityCurrentStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2021-01-31#OtherLiabilitiesCurrent
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2021 dei Document Type
DocumentType
10-K
CY2021 dei Document Annual Report
DocumentAnnualReport
true
CY2021 dei Document Period End Date
DocumentPeriodEndDate
2021-12-31
CY2021 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2021 dei Document Transition Report
DocumentTransitionReport
false
CY2021 dei Entity File Number
EntityFileNumber
001-38410
CY2021 dei Entity Registrant Name
EntityRegistrantName
BioXcel Therapeutics, Inc.
CY2021 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2021 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
82-1386754
CY2021 dei Entity Address Address Line1
EntityAddressAddressLine1
555 Long Wharf Drive
CY2021Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
86000
CY2020Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
87000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1398000
CY2021 dei Entity Address State Or Province
EntityAddressStateOrProvince
CT
CY2021 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
06511
CY2021 dei Entity Address City Or Town
EntityAddressCityOrTown
New Haven
CY2021 dei City Area Code
CityAreaCode
475
CY2021 dei Local Phone Number
LocalPhoneNumber
238-6837
CY2021 dei Security12b Title
Security12bTitle
Common Stock
CY2021 dei Trading Symbol
TradingSymbol
BTAI
CY2021 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2021 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2021 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2021 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2021 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2021 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2021 dei Entity Small Business
EntitySmallBusiness
true
CY2021 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2021 dei Entity Ex Transition Period
EntityExTransitionPeriod
true
CY2021 dei Entity Shell Company
EntityShellCompany
false
CY2021Q2 dei Entity Public Float
EntityPublicFloat
550896639
CY2022Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
27980345
CY2021 dei Auditor Firm
AuditorFirmId
42
CY2021 dei Auditor Name
AuditorName
Ernst & Young LLP
CY2021 dei Auditor Location
AuditorLocation
Stamford, Connecticut
CY2020 dei Auditor Name
AuditorName
BDO USA, LLP
CY2020 dei Auditor Location
AuditorLocation
Stamford, Connecticut
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
232968000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
213119000
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2888000
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2962000
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
956000
CY2020Q4 us-gaap Other Assets Current
OtherAssetsCurrent
984000
CY2021Q4 us-gaap Assets Current
AssetsCurrent
236812000
CY2020Q4 us-gaap Assets Current
AssetsCurrent
217065000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1294000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1273000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1247000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1511000
CY2021Q4 us-gaap Assets
Assets
239439000
CY2020Q4 us-gaap Assets
Assets
219936000
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
4678000
CY2020Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
3979000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
11492000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7469000
CY2021Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
204000
CY2020Q4 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
157000
CY2021Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
293000
CY2020Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
237000
CY2021Q4 us-gaap Liabilities Current
LiabilitiesCurrent
16667000
CY2020Q4 us-gaap Liabilities Current
LiabilitiesCurrent
11842000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1105000
CY2021 us-gaap Interest Expense
InterestExpense
40000
CY2020 us-gaap Interest Expense
InterestExpense
27000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-106931000
CY2021Q4 us-gaap Liabilities
Liabilities
17772000
CY2020Q4 us-gaap Liabilities
Liabilities
13240000
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000
CY2021Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
27980000
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
24417000
CY2021Q4 us-gaap Common Stock Value
CommonStockValue
28000
CY2020Q4 us-gaap Common Stock Value
CommonStockValue
24000
CY2020Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2021Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
467427000
CY2020Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
345529000
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-245788000
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-138857000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
221667000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
206696000
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
239439000
CY2020Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
219936000
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
52708000
CY2020 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
57995000
CY2021 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
54227000
CY2020 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
24302000
CY2021 us-gaap Operating Expenses
OperatingExpenses
106935000
CY2020 us-gaap Operating Expenses
OperatingExpenses
82297000
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
-106935000
CY2020 us-gaap Operating Income Loss
OperatingIncomeLoss
-82297000
CY2021 us-gaap Investment Income Interest
InvestmentIncomeInterest
44000
CY2020 us-gaap Investment Income Interest
InvestmentIncomeInterest
155000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-82169000
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.05
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-3.79
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
26373000
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21683000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
26895000
CY2020 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
17815000
CY2020 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
255785000
CY2020 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
9024000
CY2020 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
14611000
CY2020 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
598000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-82169000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
206696000
CY2021 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
3542000
CY2021 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
100993000
CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
19455000
CY2021 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1454000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-106931000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
221667000
CY2021 us-gaap Profit Loss
ProfitLoss
-106931000
CY2020 us-gaap Profit Loss
ProfitLoss
-82169000
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
297000
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
188000
CY2021 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-46000
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
19455000
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
14611000
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-103000
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2301000
CY2021 btai Increase Decrease In Operating Lease Right Of Use Assets
IncreaseDecreaseInOperatingLeaseRightOfUseAssets
-264000
CY2020 btai Increase Decrease In Operating Lease Right Of Use Assets
IncreaseDecreaseInOperatingLeaseRightOfUseAssets
-288000
CY2021 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
4850000
CY2020 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
3197000
CY2021 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-237000
CY2020 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-164000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-82153000
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-66350000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
445000
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
316000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-445000
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-316000
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
100993000
CY2020 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
255785000
CY2020 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
9024000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1454000
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
598000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
102447000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
247359000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
19849000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
180693000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
213119000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
32426000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
232968000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
213119000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
40000
CY2020 us-gaap Interest Paid Net
InterestPaidNet
27000
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
22000
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
104000
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
606000
CY2021 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Note 1. Nature of the Business</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">BioXcel Therapeutics, Inc. (“BTI”) is a clinical stage biopharmaceutical company focused on drug development that utilizes artificial intelligence to identify improved therapies in neuroscience and immuno-oncology. BTI's drug re-innovation approach leverages existing approved drugs and/or clinically validated product candidates together with big data and proprietary machine learning algorithms to identify new therapeutic indices. BTI's two most advanced clinical development programs are BXCL501, a proprietary, orally dissolving, sublingual thin film formulation of the adrenergic receptor agonist dexmedetomidine (“Dex”), for the treatment of agitation and opioid withdrawal symptoms, and BXCL701, an orally administered, systemic innate immune activator for the treatment of aggressive forms of prostate cancer and advanced solid tumors that are refractory or treatment naïve to checkpoint inhibitors.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;"><span style="white-space:pre-wrap;">As used in these financial statements, unless otherwise specified or the context otherwise requires, the terms the “Company” or “BTI” refer to BioXcel Therapeutics, Inc., and “BioXcel, LLC ” refer to BioXcel LLC and, its predecessor, BioXcel Corporation. </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company was incorporated under the laws of the State of Delaware on March 29, 2017. The Company’s principal office is in New Haven, Connecticut.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;"><span style="white-space:pre-wrap;">Certain reclassifications have been made to the prior year financial information to conform to the current period presentation. These reclassifications had no effect on the reported results of operations.</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Impact of COVID-19 Pandemic </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">During the first quarter ended March 31, 2020, and continuing through December 31, 2021, the novel coronavirus disease, or COVID-19, was declared a pandemic and spread to multiple regions across the globe, including the United States and Europe. The outbreak and government measures taken in response have had a significant impact, both direct and indirect, on businesses and commerce, as worker shortages have occurred; supply chains have been disrupted; facilities and production have been suspended; and demand for certain goods and services, such as medical services and supplies, has spiked, while demand for other goods and services, such as travel, has fallen.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><span style="white-space:pre-wrap;">To date we have taken steps in line with guidance from the U.S. Centers for Disease Control and Prevention (“CDC”) and the State of Connecticut to protect the health and safety of our employees and the community. In particular, we implemented a work-from-home policy for all employees and have restricted on-site activities to certain chemical, manufacturing and control (“CMC”) and clinical trial activities. We continue to assess the impact of the COVID-19 pandemic to best mitigate risk and continue the operations of our business. Beginning late in the second quarter of 2020, we began to slowly bring our staff, in very limited numbers, back to our office. This modified return-to-work approach is continuing into 2022. We have taken steps to protect our workforce and have instituted strict work rules to protect our employees. </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">We continue to work closely with our clinical sites to monitor the potential impact of the evolving COVID-19 pandemic. We remain committed to our clinical programs and development plans. Other than Phase 2 clinical trial evaluating BXCL501 in patients with delirium through December 31, 2021, we have not experienced any significant delays to our ongoing or planned clinical trials, except for challenges in accessing elderly care facilities and ICU settings; however, this could rapidly change. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;"> <span style="font-size:1pt;visibility:hidden;">​</span></p>
CY2020Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
300000
CY2021 btai Number Of Advanced Program
NumberOfAdvancedProgram
2
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company’s financial statements are prepared in accordance with GAAP. The preparation of the Company’s financial statements requires it to make estimates and assumptions that impact the reported amounts of assets, liabilities and expenses in its financial statements and the accompanying notes. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates.</p>
CY2020Q3 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
13026000
CY2020Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
2300000
CY2020Q1 us-gaap Share Price
SharePrice
32.00
CY2020Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
68811000
CY2020Q1 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
4789000
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
9024000
CY2021 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2020Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
4000000
CY2020Q3 us-gaap Share Price
SharePrice
50.00
CY2020Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
186974000
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
9024000
CY2020Q1 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
300000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-106931000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-82169000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
26373000
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
21683000
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.05
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-3.79
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4000000
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3798000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1896000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1635000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
602000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
362000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1294000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7469000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1273000
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
297000
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
188000
CY2021Q4 btai Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
5762000
CY2020Q4 btai Accrued Research And Development Expenses
AccruedResearchAndDevelopmentExpenses
3264000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3968000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2066000
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1324000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1288000
CY2021Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
302000
CY2020Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
697000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
136000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
154000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
11492000
CY2020 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.037
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
293000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1105000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
293000
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
365000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19455000
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
14611000
CY2019Q1 us-gaap Area Of Real Estate Property
AreaOfRealEstateProperty
11040
CY2020Q3 btai Area Of Addition Space Leased
AreaOfAdditionSpaceLeased
7245
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
363000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
372000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
381000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
391000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
65000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1572000
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
174000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1398000
CY2020 us-gaap Operating Lease Expense
OperatingLeaseExpense
345000
CY2020Q3 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2020Q3 btai Lessee Operating Lease Number Of Renewal
LesseeOperatingLeaseNumberOfRenewal
1
CY2020Q3 btai Lessee Operating Lease Renewal At Percentage Of Market Rates
LesseeOperatingLeaseRenewalAtPercentageOfMarketRates
0.95
CY2021Q4 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
0
CY2020Q4 btai Deferred Tax Assets Capitalized Research And Development
DeferredTaxAssetsCapitalizedResearchAndDevelopment
21249000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
1026000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Liabilities
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAccruedLiabilities
599000
CY2021Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
17000
CY2020Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
11000
CY2021Q4 btai Deferred Tax Assets Lease Accounting Liability
DeferredTaxAssetsLeaseAccountingLiability
376000
CY2020Q4 btai Deferred Tax Assets Lease Accounting Liability
DeferredTaxAssetsLeaseAccountingLiability
440000
CY2021Q4 btai Deferred Tax Assets Unrealized Gain
DeferredTaxAssetsUnrealizedGain
3000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
71899000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
41721000
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
336000
CY2020Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
407000
CY2021Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
336000
CY2020Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
407000
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
29157000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
8547000
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
8213000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
2411000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
7461000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
3998000
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
7102000
CY2020Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
4895000
CY2021Q4 btai Deferred Tax Assets Capitalized Research And Development
DeferredTaxAssetsCapitalizedResearchAndDevelopment
18880000
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
336000
CY2020Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
407000
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.001
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.009
CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits
EffectiveIncomeTaxRateReconciliationTaxCredits
0.021
CY2021Q4 us-gaap Tax Credit Carryforward Amount
TaxCreditCarryforwardAmount
6445000
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.058
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.068
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.007
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.002
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.283
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.322
CY2021Q4 btai Operating Loss Carryforwards No Expiration
OperatingLossCarryforwardsNoExpiration
136197000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2020Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0
CY2021Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
0

Files In Submission

Name View Source Status
0001558370-22-003335-index-headers.html Edgar Link pending
0001558370-22-003335-index.html Edgar Link pending
0001558370-22-003335.txt Edgar Link pending
0001558370-22-003335-xbrl.zip Edgar Link pending
btai-20211231.xsd Edgar Link pending
btai-20211231x10k.htm Edgar Link pending
btai-20211231x10k001.jpg Edgar Link pending
btai-20211231x10k002.jpg Edgar Link pending
btai-20211231x10k003.jpg Edgar Link pending
btai-20211231x10k004.jpg Edgar Link pending
btai-20211231x10k_htm.xml Edgar Link completed
btai-20211231xex10d20.htm Edgar Link pending
btai-20211231xex21d1.htm Edgar Link pending
btai-20211231xex23d1.htm Edgar Link pending
btai-20211231xex23d2.htm Edgar Link pending
btai-20211231xex31d1.htm Edgar Link pending
btai-20211231xex31d2.htm Edgar Link pending
btai-20211231xex32d1.htm Edgar Link pending
btai-20211231xex32d2.htm Edgar Link pending
btai-20211231_cal.xml Edgar Link unprocessable
btai-20211231_def.xml Edgar Link unprocessable
btai-20211231_lab.xml Edgar Link unprocessable
btai-20211231_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending