secwatch.observer — SEC 8-K summary
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Issuer:     BioXcel Therapeutics, Inc. (BTAI)
CIK:        0001720893
Form:       8-K
Filed at:   2026-03-27T23:59:59+00:00
Accession:  0001104659-26-035661
Event type: earnings
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BioXcel posts Q4 net loss $12.5M, IGALMI revenue falls; sNDA filed for at-home use
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- Q4 2025 IGALMI revenue $256K vs $366K in Q4 2024; full year $642K vs $2.3M.
- Net loss Q4 $12.5M ($10.9M Q4 2024); full year $69.9M ($59.6M 2024).
- Cash $28.8M at Dec 31, 2025; operating cash use $57.6M in 2025 vs $72M in 2024.
- sNDA submitted Jan 2026 for IGALMI in at-home agitation; potential approval year-end 2026.
- Appointed Mark Pavao as Interim CCO to lead launch plans for IGALMI at-home.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1720893/000110465926035661/0001104659-26-035661-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1720893/000110465926035661/tm269970d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-035661

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer