---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-059106"
form_type: "8-K"
ticker: "BTAI"
cik: "0001720893"
company_name: "BioXcel Therapeutics, Inc."
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T06:31:09.490008+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# BioXcel Q1 net loss narrows to $26.8M on IGALMI revenue growth of 182% YoY

## Summary
- IGALMI net revenue $582K (Q1 2024), up 182% YoY and 55% sequentially.
- Net loss of $26.8M vs $52.8M in Q1 2023; operating cash used $17.7M.
- Cash $74.1M at March 31, 2024, including $25M from March direct offering.
- Advanced two Phase 3 trials for BXCL501: TRANQUILITY In-Care (60 mcg) for Alzheimer's agitation and SERENITY At-Home (120 mcg) for bipolar/schizophrenia; FDA protocol submitted.
- Two new patents granted for BXCL501 (Japan and U.S.) extending protection to 2039/2043.

## SEC filing metadata
- accession: 0001104659-24-059106
- form_type: 8-K
- ticker: BTAI
- cik: 0001720893
- company_name: BioXcel Therapeutics, Inc.
- filed_at: 2024-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1720893/000110465924059106/0001104659-24-059106-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1720893/000110465924059106/tm249625d5_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-059106
- JSON: https://secwatch.observer/filing/0001104659-24-059106.json
- Plain text: https://secwatch.observer/filing/0001104659-24-059106.txt

## Key facts
- Earnings Releases
  BioXcel Therapeutics, Inc. reported first quarter of 2024 results: revenue $582,000, net income $26.8 million.
  - Period: first quarter of 2024
  - Revenue: $582,000
  - Net income: $26.8 million
  - Result: reported results
  source text: of BXCL701 and KEYTRUDA® (pembrolizumab) in metastatic pancreatic ductal adenocarcinoma (PDAC). First Quarter 2024 Financial Results Net Revenue: Net revenue from IGALMI was $582,000 for the first quarter of 2024, compared to $206,000 for the same period in 2023, representing a 182% increase. Sequential quarterly revenue increased 55% in Q1 2024 from the
  evidence_url: https://www.sec.gov/Archives/edgar/data/1720893/000110465924059106/0001104659-24-059106-index.htm

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