{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-24-101176","form_type":"8-K","ticker":"BTAI","cik":"0001720893","company_name":"BioXcel Therapeutics, Inc.","filed_at":"2024-09-19T23:59:59+00:00","discovered_at":"2026-05-14T18:03:14.263181+00:00","generated_at":"2026-05-31T03:40:13.337377+00:00","sec_items":["2.05","5.02"],"event_type":"other_material","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"BioXcel Therapeutics reduces workforce by 28% (~15 employees) to cut costs, prioritizes BXCL501; CCO Matt Wiley departs.","bullets":["Headcount reduction of 28% (~15 employees) approved Sept 17, 2024; charges ~$1.4M primarily in severance and benefits, expected Q4 2024.","Company prioritizes clinical development of lead neuroscience asset BXCL501 to extend cash runway.","Chief Commercial Officer Matt Wiley's position eliminated; employment ends Oct 2, 2024, followed by consulting period.","Company previously identified substantial doubt about going concern; cost reduction aims to extend cash runway.","Majority of charges expected to be cash expenditures; plan completion by Q4 2024."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-24-101176","json":"https://secwatch.observer/filing/0001104659-24-101176.json","markdown":"https://secwatch.observer/filing/0001104659-24-101176.md","text":"https://secwatch.observer/filing/0001104659-24-101176.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1720893/000110465924101176/0001104659-24-101176-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1720893/000110465924101176/tm2424352d2_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-31T03:40:13.337377+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"2f2b40adca","claim":"Matt Wiley departed as Chief Commercial Officer at BioXcel Therapeutics, Inc..","evidence_excerpt":"On September 18, 2024, the Company notified Matt Wiley, the Company’s Chief Commercial Officer, that, in connection with the Clinical Prioritization, his position was being eliminated.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1720893/000110465924101176/0001104659-24-101176-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"position eliminated"},{"label":"Role","value":"Chief Commercial Officer"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}