Welcome to our dedicated page for BioXcel Therapeutics SEC filings (Ticker: BTAI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
BioXcel Therapeutics filings document regulatory, financing, governance, and operating disclosures for a Nasdaq-listed biopharmaceutical company focused on AI-supported drug re-innovation in neuroscience. The company’s Form 8-K reports include IGALMI regulatory updates, business and financial results, and exhibits tied to press releases and material corporate events.
The filing record also covers registered direct offerings, common stock, pre-funded warrants and accompanying warrants, credit agreement amendments, registration rights, unregistered equity issuances, and retention or milestone-based compensation arrangements. These disclosures describe BioXcel’s capital structure, contractual obligations, Nasdaq-listed common stock, and formal updates connected to its approved IGALMI product and BXCL501 development program.
BioXcel Therapeutics, Inc. (BTAI) entered into a Super-Priority Senior Secured Priming Debtor-in-Possession Credit Agreement with affiliates of Oaktree Capital Management and Qatar Investment Authority providing a DIP financing facility of up to $77.25 million. This includes up to $19 million of new money term loans, drawn in two tranches of up to $9.5 million each, and up to $58.25 million of roll-up loans converting prepetition debt under the existing credit agreement on a dollar-for-dollar basis.
The loans bear interest at 13.00% per annum, with a 2.0% default premium, and require a 4.0% exit fee on any repayment or prepayment. New money interest is payable in cash, while roll-up interest is paid in kind. The facility is guaranteed by the subsidiaries and secured by first priority priming liens on substantially all assets, with superpriority administrative expense status under the Chapter 11 proceedings. Covenants include adherence to a 13‑week budget, a minimum liquidity of $250 thousand, and specified case milestones, with maturity on January 27, 2027 unless repaid earlier.
Nasdaq notified the company that its common stock will be delisted due to the Chapter 11 filing, with trading suspended at the open on September 8, 2026 and a Form 25‑NSE to remove the stock from listing and registration. The company does not intend to appeal, and the shares are expected to trade on the Pink Limited Market, which the company notes is a significantly more limited and potentially less liquid market that could further depress the trading price.
BioXcel Therapeutics, Inc. (BTAI) and two subsidiaries filed voluntary Chapter 11 petitions in Delaware on August 27, 2026 and will operate as debtors-in-possession while seeking Court approval of various first-day motions and new debtor-in-possession financing.
The proposed DIP Financing from affiliates of Oaktree Capital Management and the Qatar Investment Authority includes up to $19 million in new money term loans plus up to $58.25 million of roll-up loans converting prepetition debt. BTAI also signed a stalking horse asset purchase agreement with Teva to sell substantially all assets for $57.5 million cash, assumed liabilities, up to $67.5 million in development milestones tied to the pending IGALMI sNDA, and up to $20 million in commercial milestones, all subject to higher bids and Bankruptcy Court approval.
BioXcel Therapeutics, Inc. (BTAI) amended its existing Credit Agreement with lenders administered by Oaktree Fund Administration LLC through a Fourteenth Amendment. The lenders provided additional term loans with an aggregate principal amount of $1,250,000, for which the company paid a $250,000 upfront fee, equal to 20% of the new borrowing. These loans otherwise carry the same economic and other terms as the prior loans under the agreement.
The lenders agreed to reduce the minimum liquidity covenant from $3.0 million to $250,000. BioXcel must, on or before August 31, 2026, enter into definitive agreements for one or more lender-acceptable transactions that either repay all obligations under the Credit Agreement or constitute an alternative capital solutions transaction acceptable to the lenders. Various covenants and thresholds were also tightened, removing flexibility for certain transactions, including out-licensing of intellectual property and sales of assets.
BioXcel Therapeutics, Inc. (BTAI) reports that on August 21, 2026 it entered into a Thirteenth Amendment to its Credit Agreement and Guaranty with lenders administered by Oaktree Fund Administration LLC. The amendment extends the deadline by which BioXcel must secure a major financing or repayment transaction.
By on or prior to August 28, 2026, BioXcel must enter into definitive agreements, acceptable to the lenders, for either (A) a transaction that repays all loans and other obligations under the existing Credit Agreement, or (B) an “alternative capital solutions” transaction on terms acceptable to the lenders. The prior deadline had been August 21, 2026 under the Twelfth Amendment.
BioXcel Therapeutics, Inc. reported that director Susan E. Atkins received a grant of stock options for 17,000 shares of common stock on August 12, 2026. The options carry an exercise price of $1.06 per share and expire on August 12, 2036. One-third of the options vest on the first anniversary of the grant date, with the remaining two-thirds vesting in equal annual installments on the second and third anniversaries, contingent on her continued service with the company.
BioXcel Therapeutics, Inc. filed an initial ownership report for Susan E. Atkins, identifying her as a director of the company. The filing does not report any equity transactions or holdings and notes an exhibit consisting of a Power of Attorney authorizing SEC filing-related actions.
Armistice Capital, LLC and Steven Boyd report beneficial ownership of BioXcel Therapeutics, Inc. common stock. They report beneficial ownership of 1,621,716 shares, representing 4.99% of the outstanding common stock. All of these shares are subject to shared voting and shared dispositive power, with no sole voting or dispositive authority reported.
Armistice Capital is investment manager to Armistice Capital Master Fund Ltd., the direct holder of the shares, and exercises voting and investment power over those securities under an Investment Management Agreement. Steven Boyd, as managing member of Armistice Capital, may also be deemed to beneficially own these securities. The Master Fund has the right to receive dividends and sale proceeds from the reported securities, while it disclaims beneficial ownership because it cannot vote or dispose of the shares under the agreement.
BioXcel Therapeutics, Inc. reports continued operating losses and severe financial pressure for the quarter and six months ended June 30, 2026. Product revenue, net was $182 thousand for the quarter and $388 thousand year-to-date, against total operating expenses of $10.4 million and $20.8 million, respectively, driven mainly by research and development and selling, general and administrative costs. The company recorded a net loss of $14.7 million for the quarter and $27.4 million for the six months, similar to the prior-year period.
Liquidity is highly constrained: cash, cash equivalents and restricted cash totaled $13.8 million at June 30, 2026, while the current portion of long-term debt was $104.5 million and total liabilities were $144.3 million. Stockholders’ equity was a deficit of $115.5 million. Management concludes that its loss history, negative cash flows, large debt burden, limited liquidity, covenant-driven amortization risk and dependence on new financing raise substantial doubt about its ability to continue as a going concern for at least 12 months. The company is pursuing a sale, merger, financing or other strategic transaction, and is engaged in contingency planning, including potential debtor-in-possession financing, noting it may likely seek bankruptcy protection if no acceptable transaction or financing is secured.
BioXcel Therapeutics, Inc. entered into a Twelfth Amendment to its Credit Agreement and Guaranty with lenders administered by Oaktree Fund Administration LLC. The amendment extends the deadline to on or prior to August 21, 2026 for BioXcel to enter definitive agreements for one or more transactions acceptable to the lenders that either repay all loans and other obligations under the Credit Agreement or constitute an alternative capital solutions transaction on terms acceptable to the lenders. The amendment also reduces the Credit Agreement’s minimum liquidity covenant, requiring minimum cash liquidity of $3.0 million instead of $6.25 million under the prior amendment.
BioXcel Therapeutics, Inc. entered into an Eleventh Amendment to its existing Credit Agreement and Guaranty with lenders administered by Oaktree Fund Administration LLC. Lenders agreed to defer to August 31, 2026 the principal and interest payment originally due June 30, 2026, now requiring a payment of $9,016,914.47 plus all accrued interest and fees through that date.
The amendment also changes covenant terms by lowering the agreement’s minimum liquidity requirement, so BioXcel must maintain minimum cash liquidity of $6.25 million instead of $7.5 million. Certain subsidiaries continue as guarantors under the amended credit facility.