8-K
filed October 30, 2026, 5:15 PM ET
ticker BTAI
CIK 0001720893
M&A
confidence high
sentiment negative
materiality 0.88
BioXcel closes $57.5M Teva asset sale; CEO, CFO and two other officers terminated; renaming to BX Liquidation
BioXcel Therapeutics, Inc.
- Teva paid $57.5M upfront cash (against which its $5.75M deposit was credited) for IGALMI (dexmedetomidine)/BXCL501 neuroscience assets; BXCL701 and BXCL702 were retained.
- Additional consideration: up to $67.5M development milestone on FDA approval of the IGALMI at-home-use sNDA, plus up to $20M in sales milestones at $250M and $500M annual net sales.
- Board terminated CEO Vimal Mehta, CFO Richard Steinhart, CSO Frank Yocca and CLO Javier Rodriguez effective 5 p.m. Oct 31, 2026; Mehta stays a director at $5,000/month.
- Samir Saleem, Chief Restructuring Officer, was named President, Secretary and principal executive officer; the company will be renamed BX Liquidation, Inc. ahead of wind-down.
- Sale closed Oct 26, 2026 under the Court's Oct 21 Sale Order after no qualifying bids beat Teva's stalking-horse APA; proceeds repaid the debtor-in-possession facility.
Featured in Daily 8-K Digest
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.97
Vimal Mehta was terminated as Chief Executive Officer and President at BioXcel Therapeutics, Inc..
- Action
- terminated
- Role
- Chief Executive Officer and President
Exact text from the filing
terminated Vimal Mehta, Ph.D., the Company’s Chief Executive Officer and President, Richard Steinhart, the Company’s Senior Vice President and Chief Financial Officer, Frank Yocca, Ph.D., the Company’s Senior Vice President and Chief Scientific Officer, and Javier Rodriguez, the Company’s Senior Vice President, Chief Legal Officer and Corporate Secretary, from all offices of the Company and terminated their employment with the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.97
Richard Steinhart was terminated as Senior Vice President and Chief Financial Officer at BioXcel Therapeutics, Inc..
- Action
- terminated
- Role
- Senior Vice President and Chief Financial Officer
Exact text from the filing
terminated Vimal Mehta, Ph.D., the Company’s Chief Executive Officer and President, Richard Steinhart, the Company’s Senior Vice President and Chief Financial Officer, Frank Yocca, Ph.D., the Company’s Senior Vice President and Chief Scientific Officer, and Javier Rodriguez, the Company’s Senior Vice President, Chief Legal Officer and Corporate Secretary, from all offices of the Company and terminated their employment with the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.97
Frank Yocca was terminated as Senior Vice President and Chief Scientific Officer at BioXcel Therapeutics, Inc..
- Action
- terminated
- Role
- Senior Vice President and Chief Scientific Officer
Exact text from the filing
terminated Vimal Mehta, Ph.D., the Company’s Chief Executive Officer and President, Richard Steinhart, the Company’s Senior Vice President and Chief Financial Officer, Frank Yocca, Ph.D., the Company’s Senior Vice President and Chief Scientific Officer, and Javier Rodriguez, the Company’s Senior Vice President, Chief Legal Officer and Corporate Secretary, from all offices of the Company and terminated their employment with the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.96
Samir Saleem was appointed as President and Secretary at BioXcel Therapeutics, Inc..
- Action
- appointed
- Role
- President and Secretary
Exact text from the filing
On October 30, 2026, the Board appointed Samir Saleem, the Company’s Chief Restructuring Officer, as President and Secretary of the Company, effective as of 5:00 p.m., Eastern Time, on October 31, 2026, in addition to his continuing service as Chief Restructuring Officer. Mr. Saleem will serve as the Company’s principal executive officer.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.97
Javier Rodriguez was terminated as Senior Vice President, Chief Legal Officer and Corporate Secretary at BioXcel Therapeutics, Inc..
- Action
- terminated
- Role
- Senior Vice President, Chief Legal Officer and Corporate Secretary
Exact text from the filing
terminated Vimal Mehta, Ph.D., the Company’s Chief Executive Officer and President, Richard Steinhart, the Company’s Senior Vice President and Chief Financial Officer, Frank Yocca, Ph.D., the Company’s Senior Vice President and Chief Scientific Officer, and Javier Rodriguez, the Company’s Senior Vice President, Chief Legal Officer and Corporate Secretary, from all offices of the Company and terminated their employment with the Company
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4.1-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.