BioXcel Q2 net loss $19.2M, cash $18.6M; SERENITY Phase 3 topline due August

BioXcel Therapeutics, Inc.

2025-Q2 EPS reported -$4.17 revenue$288,000

Q2 2025 IGALMI revenue $120K (down ~89% YoY from $1.1M); net loss $19.2M vs $8.3M in Q2 2024.
Operating loss improved to $15.9M from $17.3M YoY; R&D spending up to $10.3M from $8.0M.
Cash and equivalents $18.6M at June 30; post-quarter raised $11.5M from ATM and $3.6M from warrant exercises.
SERENITY At-Home Phase 3 trial for bipolar/schizophrenia complete; topline results expected August 2025.
FDA meeting in August to support potential sNDA for label expansion of IGALMI to at-home setting.

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