BioXcel Q3 net loss $41.8M; revenue $137K; IGALMI launch progress with 70-rep sales force by Dec 1

BioXcel Therapeutics, Inc.

2022-Q3 EPS reported -$3.96 revenue$137,000

Net loss of $41.8M for Q3 2022 vs $26.8M loss in Q3 2021; revenue $137K from early product trials.
Cash and equivalents $232.3M; operating cash used $31.5M in quarter.
IGALMI commercial: signed largest GPO covering ~50% target beds; expanding sales force to 70 reps by Dec 1 covering 1,700 hospitals.
Pipeline: TRANQUILITY II and SERENITY III top-line data expected 1H 2023 for agitation indications.
Phase 1 MDD program completed multiple daily dosing cohorts; top-line results expected 1H 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BioXcel Therapeutics, Inc. reported financial results for third quarter ended September 30, 2022.

Period: third quarter ended September 30, 2022
Result: reported results

Exact text from the filing

BioXcel Therapeutics, Inc. (Nasdaq: BTAI), a biopharmaceutical company utilizing artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology, today announced its financial results for the third quarter ended September 30, 2022 and provided an update on key strategic initiatives.

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Source: SEC EDGAR

accession 0001104659-22-116799

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