BioXcel Therapeutics Q2 net loss widens to $53.5M; cuts workforce 58%, cash runway to mid-2024

BioXcel Therapeutics, Inc.

Net loss of $53.5M in Q2 2023 vs $37.7M in Q2 2022; revenue of $457K from IGALMI.
Workforce reduction from ~190 to 80 employees; annualized cash burn reduced to ~$80M.
Cash and equivalents $127.5M as of June 30; runway extended to mid-2024 without new capital.
Requested FDA meeting to discuss TRANQUILITY II sNDA for BXCL501 in Alzheimer's agitation.
SERENITY III Part 2 protocol amendment to evaluate 80 mcg dose for at-home use in schizophrenia/bipolar.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.85

BioXcel Therapeutics, Inc. reported financial results for the second quarter ended June 30, 2023.

Period: the second quarter ended June 30, 2023
Result: reported results

Exact text from the filing

On August 14, 2023, BioXcel Therapeutics, Inc. (the “Company”) issued a press release announcing its financial results for the three and six months ended June 30, 2023 and provided a business update.

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BioXcel Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-090891

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