BioXcel posts Q3 net loss $50.5M, aligns with FDA on Phase 3 for agitation in Alzheimer's dementia

BioXcel Therapeutics, Inc.

2023-Q3 EPS reported -$5.40 revenue$1,004,000

Q3 net loss $50.5M vs $41.8M YoY; IGALMI net revenue ~$341k; cash $90M, funds through mid-2024.
FDA alignment for Phase 3 trial of BXCL501 (60 mcg) for Alzheimer's agitation in at-home setting; ~100 patients, 4 weeks.
SERENITY III program plans Phase 3 trial with 120 mcg dose (approved IGALMI dose) for at-home agitation in bipolar/schizophrenia.
Binding term sheet with Oaktree and QIA to amend financing; potential access to more capital, adjusted revenue covenants.
OnkosXcel reports positive Phase 2 overall survival for BXCL701 in prostate cancer; evaluating strategic options.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BioXcel Therapeutics, Inc. reported third quarter ended Sept. 30, 2023 results: revenue approximately $341,000, net income $50.5 million.

Period: third quarter ended Sept. 30, 2023
Revenue: approximately $341,000
Net income: $50.5 million
Result: reported results

Exact text from the filing

OnkosXcel Therapeutics, including potential financing, strategic partnership, or M&A. 2 Third Quarter 2023 Financial Results Net Revenue: Net revenue of IGALMI was approximately $341,000 for the quarter. Research and Development (R&D) Expenses: R&D expenses were $19.6 million for the third quarter of 2023, compared to $22.1 million for the same period in 2022. The

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Source: SEC EDGAR

accession 0001104659-23-117669

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