---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-061773"
form_type: "8-K"
ticker: "BTAI"
cik: "0001720893"
company_name: "BioXcel Therapeutics, Inc."
filed_at: "2026-05-15T11:07:13+00:00"
generated_at: "2026-05-15T11:10:12.221118+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# BioXcel reports Q1 net loss $12.7M; FDA sets Nov 14 PDUFA for at-home IGALMI

## Summary
- FDA accepted sNDA for IGALMI at-home use in agitation associated with bipolar/schizophrenia; PDUFA date Nov 14, 2026.
- Net revenue $206K (up 23% YoY from $168K); net loss $12.7M vs $7.3M in Q1 2025.
- Engaged MTS Health Partners to explore strategic options including sale, merger, or collaboration.
- Cash and equivalents $17.2M as of Mar 31, 2026; company in compliance with credit covenants.
- R&D down to $3.0M from $4.6M due to SERENITY trial completion; SG&A up to $7.2M from $5.7M.

## SEC filing metadata
- accession: 0001104659-26-061773
- form_type: 8-K
- ticker: BTAI
- cik: 0001720893
- company_name: BioXcel Therapeutics, Inc.
- filed_at: 2026-05-15T11:07:13+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1720893/000110465926061773/0001104659-26-061773-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1720893/000110465926061773/tm2614679d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-061773
- JSON: https://secwatch.observer/filing/0001104659-26-061773.json
- Plain text: https://secwatch.observer/filing/0001104659-26-061773.txt

## Key facts
- Earnings Releases
  BioXcel Therapeutics, Inc. reported the three months ended March 31, 2026 results: revenue $206,000, net income net loss of $12.7 million.
  - Period: the three months ended March 31, 2026
  - Revenue: $206,000
  - Net income: net loss of $12.7 million
  - Result: reported results
  source text: FDA approval in an adjacent indication, which is further reinforcing the need in this therapeutic area. First Quarter 2026 Financial Results Net revenue from IGALMI® was $206,000 for the first quarter of 2026, compared to $168,000 for the same period in 2025. The Company is focused on preparing for IGALMI’s launch in the at-home setting and maintaining
  evidence_url: https://www.sec.gov/Archives/edgar/data/1720893/000110465926061773/0001104659-26-061773-index.htm

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