BioXcel files Chapter 11, sells assets to Teva for $57.5M upfront plus milestones

BioXcel Therapeutics, Inc.

Filed Chapter 11 petitions on Aug 27, 2026 in Delaware; operates as debtor-in-possession.
DIP financing from Oaktree and QIA: up to $19M new money plus $58.25M roll-up.
Stalking Horse APA with Teva: $57.5M upfront, up to $67.5M development milestones, up to $20M commercial milestones.
Appointed Samir Saleem as Chief Restructuring Officer, reporting to Board's Strategic Process Committee.
Sale subject to higher bids and court approval; transaction target close by Oct 30, 2026.

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