BioXcel Therapeutics Inc
bioxceltherapeutics.comWhat Do They Do?
Develops medicines for agitation and cancer, and sells IGALMI, a sublingual film for agitation, to hospitals and similar health care institutions.
10-K for FY2025, filed Mar 27, 2026BioXcel Therapeutics, Inc. (Nasdaq: BTAI, “the Company”) is a biopharmaceutical company built on artificial intelligence (“AI”) to develop…View ↗
Our most advanced neuroscience candidate is BXCL501. In indications other than those approved by the U.S. Food and Drug Administration…View ↗
BTI distributes IGALMI® in the U.S. through arrangements with a distributor, wholesalers, and GPOs. The distributor and wholesalers help…View ↗
How Do They Make Money?
The company sells IGALMI to hospitals and similar health care institutions through a distributor and wholesalers, invoicing when the product is delivered to the customer's location.
10-K for FY2025, filed Mar 27, 2026
$642K
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10-K for FY2025, filed Mar 27, 2026
$642K ↗
Who Are Their Customers?
Hospitals and similar health care institutions are the customers; a distributor and wholesalers process orders, while shipments go directly to hospitals. The company also contracts directly with group purchasing organizations.
10-K for FY2025, filed Mar 27, 2026
10-K for FY2025, filed Mar 27, 2026
The Company sells IGALMI® through a drop-ship program under which orders from hospitals and similar health care institutions are processed…View ↗
Do Revenues Turn Into Profits?
No. It lost $69.9M in FY2025.
10-K for FY2025, filed Mar 27, 2026
−$50.5MView ↗
10-K for FY2025, filed Mar 27, 2026
−$69.9MView ↗
10-K for FY2025, filed Mar 27, 2026
−$57.6MView ↗
How Are They Changing?
- Net income
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Sources
10-Q for Q2 FY2026, filed Aug 13, 2026
−$14.7MView ↗
- ▼ −23% (Loss)
- vs −$19.2M in Q2 FY2025
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Sep 1, 2026
Reports a notice concerning continued listing
Sources
8-K, filed Sep 1, 2026
Item 3.01View ↗
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Aug 28, 2026
Files for Chapter 11; Teva proposes to buy substantially all assets
The proposed sale is subject to court approval and higher or otherwise better bids.
Sources
8-K, filed Aug 28, 2026
On August 27, 2026 (the “Petition Date”), BioXcel Therapeutics, Inc. (the “Company”) and its subsidiaries OnkosXcel Therapeutics, LLC and…View ↗
Pipeline focus
The older report describes AI-driven development across neuroscience and immuno-oncology, including active oncology programs; the latest focuses on neuroscience and agitation, deprioritizes immuno-oncology development, and deemphasizes use of the AI platform.
10-K for FY2022, filed Mar 16, 2023 10-K for FY2025, filed Mar 27, 2026BioXcel Therapeutics, Inc. (Nasdaq: BTAI, “the Company”) is a biopharmaceutical company built on artificial intelligence (“AI”) to develop…View ↗
Our most advanced immuno-oncology candidate, BXCL701, is an investigational oral innate immune activator from OnkosXcel Therapeutics as a…View ↗
In the third quarter of 2025, we also reduced our investment in and utilization of our proprietary AI platform until additional funding is…View ↗
Prior to our Clinical Reprioritization, we had aimed to deploy and implement, throughout the drug development process, an AI ecosystem…View ↗
Commercial approach
The older report describes an expanding institutional sales force and hospital outreach; the latest maintains IGALMI's market presence with minimal commercial resources while seeking commercial partners.
10-K for FY2022, filed Mar 16, 2023 10-K for FY2025, filed Mar 27, 2026
Who Do They Compete With?
Competes with Alexza
10-K for FY2025, filed Mar 27, 2026Drugs used for the acute treatment of agitation related to schizophrenia and bipolar disorder are antipsychotics frequently administered…View ↗
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