BioXcel Q2 2024 IGALMI net revenue up 141% YoY to $1.1M; net loss narrows to $8.3M

BioXcel Therapeutics, Inc.

2024-Q2 EPS reported -$0.99 revenue$1,686,000

IGALMI net revenue $1.1M (+141% YoY, +90% sequentially) on increased psychiatric clinic contracting.
Net loss $8.3M vs $53.5M in Q2 2023; operating cash used $23.2M; cash $56.3M at June 30.
Planning SERENITY At-Home Phase 3 for BXCL501 in agitation with bipolar/schizophrenia; TRANQUILITY In-Care Phase 3 for Alzheimer's agitation.
IGALMI PMR study showed no tachyphylaxis/tolerance/withdrawal; no serious adverse events reported.
Received USPTO Notice of Allowance for new patent expiring 2043, expected as 11th Orange Book listing for IGALMI.

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