BioXcel Therapeutics Q1 net loss $52.8M; IGALMI formulary wins double to 130

BioXcel Therapeutics, Inc.

2023-Q1 EPS reported -$1.84 revenue$206,000

Net revenue ~$206K for Q1 2023; net loss of $52.8M vs $31.5M YoY.
Cash $165.5M; cash runway into 2025 with Oaktree/QIA financing and IGALMI revenues.
IGALMI: 130 formulary wins (doubled in 2 months); $55M market unlocked, $255M scheduled for vote.
Key pipeline data expected: SERENITY III (May 2023), TRANQUILITY II (June 2023), MDD Phase 1b (May 2023).
R&D expenses $27.8M (+49% YoY); SG&A $23.6M (+83% YoY) driven by IGALMI launch.

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 three months ended March 31, 2023.

Period: three months ended March 31, 2023
Result: reported results

Exact text from the filing

On May 8, 2023, BioXcel Therapeutics, Inc. (the “Company”) issued a press release announcing its financial results for the three months ended March 31, 2023 and provided a business update.

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Source: SEC EDGAR

accession 0001104659-23-056887

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