---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-028776"
form_type: "8-K"
ticker: "BTAI"
cik: "0001720893"
company_name: "BioXcel Therapeutics, Inc."
filed_at: "2025-03-27T23:59:59+00:00"
generated_at: "2026-05-24T03:58:57.180934+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# BioXcel Therapeutics Q4 net loss $10.9M; SERENITY Phase 3 trial 63% enrolled; cash ~$35M

## Summary
- Net loss $10.9M in Q4 2024 vs $22.3M Q4 2023; full-year net loss $59.6M vs $179.1M.
- IGALMI net revenue $366K in Q4 ($376K Q4 2023); full-year $2.3M vs $1.4M in 2023.
- SERENITY At-Home Phase 3 trial enrollment at 63% (127/200 patients); topline data expected H2 2025.
- Closed $14M equity financing, strengthening cash to ~$35M as of March 4, 2025 (from $29.9M Dec 31, 2024).
- Cash used in operating activities $72M in 2024, down from $155M in 2023.

## SEC filing metadata
- accession: 0001104659-25-028776
- form_type: 8-K
- ticker: BTAI
- cik: 0001720893
- company_name: BioXcel Therapeutics, Inc.
- filed_at: 2025-03-27T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1720893/000110465925028776/0001104659-25-028776-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1720893/000110465925028776/tm2510663d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-028776
- JSON: https://secwatch.observer/filing/0001104659-25-028776.json
- Plain text: https://secwatch.observer/filing/0001104659-25-028776.txt

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