---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-047013"
form_type: "8-K"
ticker: "BTAI"
cik: "0001720893"
company_name: "BioXcel Therapeutics, Inc."
filed_at: "2025-05-12T23:59:59+00:00"
generated_at: "2026-05-21T23:56:48.473419+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# BioXcel Q1 net loss $7.3M; SERENITY At-Home trial fully enrolled, data H2 2025

## Summary
- Net revenue from IGALMI fell to $168K in Q1 2025 from $582K in Q1 2024.
- Net loss of $7.3M improved from $26.8M YoY on lower R&D and SG&A costs.
- Cash and equivalents $31M as of March 31, 2025.
- SERENITY At-Home pivotal Phase 3 trial fully enrolled; topline data expected H2 2025.
- TRANQUILITY In-Care Phase 3 trial for Alzheimer's agitation is advancing toward initiation.

## SEC filing metadata
- accession: 0001104659-25-047013
- form_type: 8-K
- ticker: BTAI
- cik: 0001720893
- company_name: BioXcel Therapeutics, Inc.
- filed_at: 2025-05-12T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1720893/000110465925047013/0001104659-25-047013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1720893/000110465925047013/tm2514754d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-047013
- JSON: https://secwatch.observer/filing/0001104659-25-047013.json
- Plain text: https://secwatch.observer/filing/0001104659-25-047013.txt

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