---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-090891"
form_type: "8-K"
ticker: "BTAI"
cik: "0001720893"
company_name: "BioXcel Therapeutics, Inc."
filed_at: "2023-08-14T23:59:59+00:00"
generated_at: "2026-06-11T11:49:33.958801+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-23-090891
- form_type: 8-K
- ticker: BTAI
- cik: 0001720893
- company_name: BioXcel Therapeutics, Inc.
- filed_at: 2023-08-14T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1720893/000110465923090891/0001104659-23-090891-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1720893/000110465923090891/tm2323591d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-090891
- JSON: https://secwatch.observer/filing/0001104659-23-090891.json
- Plain text: https://secwatch.observer/filing/0001104659-23-090891.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1720893/000110465923090891/0001104659-23-090891-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.