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 reported first-quarter 2026 product revenue of $206 thousand, with a net loss of $12,691 thousand and operating cash outflow of $11,809 thousand. Cash and cash equivalents were $17,180 thousand, against total debt of $100,289 thousand and total liabilities of $139,568 thousand.
The company’s accumulated deficit reached $732,785 thousand and stockholders’ deficit widened to $105,543 thousand. Management concludes there is substantial doubt about BioXcel’s ability to continue as a going concern, despite multiple equity financings, warrant repricings and repeated amendments and waivers under its Oaktree-led credit facility.
BioXcel Therapeutics, Inc. director and CEO Vimal Mehta reported equity changes related to previously granted restricted stock units. He exercised 18,000 Restricted Stock Units into 18,000 shares of Common Stock at a stated price of $0.0000 per share, increasing his direct Common Stock holdings to 39,259 shares.
The filing also shows indirect ownership of 480,343 Common Stock shares held by BioXcel LLC and 125 shares held by his spouse. A prior grant of 18,000 RSUs on August 1, 2025 was scheduled to vest in full within 30 days of nine months from that grant date, subject to continued employment.
BioXcel Therapeutics, Inc. Chief Financial Officer Richard I. Steinhart exercised 9,000 Restricted Stock Units into Common Stock. The RSUs, each representing one share of common stock, were granted on August 1, 2025 and vested in full approximately nine months after the grant date, contingent on continued employment. Following this compensation-related conversion, Steinhart directly holds 15,645 shares of BioXcel Therapeutics common stock.
BioXcel Therapeutics, Inc. Chief Scientific Officer Frank Yocca exercised 9,000 Restricted Stock Units into shares of Common Stock on May 1, 2026. The RSUs were granted on August 1, 2025 and represented a right to receive one share of common stock per unit.
Following this vesting and conversion, Yocca directly holds 15,520 shares of BioXcel common stock. The RSU award vested in full approximately nine months after the grant date, contingent on his continued employment with the company.
BioXcel Therapeutics, Inc. officer Javier Rodriguez exercised 9,000 Restricted Stock Units into Common Stock on May 1, 2026. Each RSU converted into one share at a price of $0.00 per share, increasing his direct holdings to 15,863 Common Stock shares.
The 9,000 RSUs were granted on August 1, 2025 and were scheduled to vest in full approximately nine months after the grant date, contingent on continued employment. Following this vesting and conversion, no RSUs from this grant remain outstanding.
BioXcel Therapeutics, Inc. entered into a Ninth Amendment to its Credit Agreement and Guaranty and, on April 15, 2026, granted the lenders warrants to purchase up to 1,353,729 shares of common stock at an exercise price of $0.01 per share. These Amendment Warrants expire on the seventh anniversary of issuance.
On April 15, 2026, BioXcel also signed a Fourth Amended and Restated Registration Rights Agreement with the lenders, under which it agreed to register the common shares issuable upon exercise of the Amendment Warrants. The securities were issued in a private transaction relying on Section 4(a)(2) of the Securities Act.
BioXcel Therapeutics, Inc. reported that the U.S. Food and Drug Administration has accepted its supplemental New Drug Application for IGALMI. The filing covers use for the acute treatment of agitation associated with bipolar disorders or schizophrenia in the at-home, outpatient setting.
The FDA has assigned a Prescription Drug User Fee Act (PDUFA) target action date of November 14, 2026, which is when the agency is scheduled to complete its review of this application.
Qatar Investment Authority filed an amendment reporting beneficial ownership of 156,066 shares of BioXcel Therapeutics common stock. The filing states this equals 0.58% of the class based on 27,088,601 shares outstanding as of March 26, 2026. The filing attributes 142,051 shares to the wholly owned subsidiary Q Boost Holding LLC plus 14,015 shares issuable upon exercise of an issuer warrant; it explains a 1-for-16 reverse stock split effective February 7, 2025 and a cashless exercise on April 28, 2025.
BioXcel Therapeutics is a neuroscience-focused biopharma built on AI, now strategically narrowing around its sublingual dexmedetomidine film BXCL501 / IGALMI® for agitation. The company reported IGALMI® net revenue of $0.6 million in 2025, down from $2.3 million in 2024, reflecting reduced commercialization after a broad Clinical Reprioritization.
BXCL501’s SERENITY At-Home Phase 3 trial met its primary safety objective in agitation linked to schizophrenia and bipolar disorders, supporting a supplemental NDA filed on January 14, 2026 for at-home use without direct supervision. Exploratory data showed meaningful reductions in agitation severity and sustained benefit with repeat dosing across 2,400+ episodes.
In Alzheimer’s-related agitation, the TRANQUILITY II Phase 3 trial’s 60 mcg dose achieved its primary endpoint, but the FDA requested additional repeat-dose efficacy and up to one year of safety data, prompting plans for a new TRANQUILITY In-Care Phase 3 study. During 2024–2025 the company cut its workforce by about 15% and then 28%, paused most BXCL701 oncology and AI-platform work, and is seeking partners while continuing government-funded investigator trials, including positive Phase 2 results for BXCL501 in opioid withdrawal.
BioXcel Therapeutics, Inc. reported fourth quarter and full-year 2025 results while advancing plans to expand IGALMI into at-home use. Net revenue from IGALMI was $256,000 in the fourth quarter and $642,000 for 2025, down from $366,000 and $2.3 million in 2024 as the company shifted to minimal commercial effort ahead of a potential relaunch in the outpatient setting.
R&D expenses were $6.7 million in the fourth quarter and $30.3 million for 2025, roughly flat year over year, as spending supported the SERENITY At-Home Phase 3 safety trial and other late-stage work. SG&A expenses fell to $3.8 million in the quarter and $20.5 million for the year, down sharply from $4.1 million and $34.5 million in 2024, reflecting lower personnel, legal and commercial costs following a clinical reprioritization.
The company reported an operating loss of $10.3 million and net loss of $12.5 million for the fourth quarter of 2025, and an operating loss of $50.5 million with a net loss of $69.9 million for the full year. Cash used in operating activities improved to approximately $57.6 million in 2025 from $72.0 million in 2024, and cash, cash equivalents and restricted cash totaled $28.8 million as of December 31, 2025. BioXcel has submitted a supplemental New Drug Application seeking to expand IGALMI’s label to at-home treatment of agitation in bipolar disorders and schizophrenia, and also highlights that conditions and events raise substantial doubt about its ability to continue as a going concern.