BioXcel Therapeutics, Inc. SEC 10-Q Report
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BioXcel Therapeutics, Inc., a biopharmaceutical company focused on the development of transformative therapies for neuropsychiatric and immuno-oncology indications, has released its Form 10-Q report for the second quarter of 2025. The report provides a comprehensive overview of the company's financial performance and key business developments during the period.
Financial Highlights
- Product revenue, net: $120 thousand for the three months ended June 30, 2025, compared to $1,104 thousand for the same period in 2024, indicating a significant decrease in sales.
- Loss from operations: $(15,852) thousand for the three months ended June 30, 2025, compared to $(17,296) thousand for the same period in 2024, showing a slight improvement in operating loss.
- Net loss: $(19,187) thousand for the three months ended June 30, 2025, compared to $(8,299) thousand for the same period in 2024, reflecting a substantial increase in net loss.
- Basic and diluted net loss per share attributable to common stockholders: $(2.45) for the three months ended June 30, 2025, compared to $(3.30) for the same period in 2024, indicating a decrease in loss per share.
Business Highlights
- Product Revenue Segments: The company reported product revenue from IGALMI® (dexmedetomidine) sublingual film, which is used for the acute treatment of agitation associated with schizophrenia or bipolar I or II disorder in adults. This product is available in doses of 120 and 180 micrograms.
- New Product Launches: IGALMI® was announced as commercially available in July 2022, marking a significant milestone in the company's product offerings.
- Clinical Development Programs: The company's most advanced neuroscience clinical development program is BXCL501, an investigational proprietary, orally dissolving film formulation of Dex for the treatment of agitation associated with psychiatric and neurological disorders.
- Immuno-Oncology Asset: BXCL701 is an investigational, orally administered systemic innate immune activator for the treatment of a rare form of prostate cancer and advanced solid tumors that are refractory or treatment naïve to checkpoint inhibitors.
- Future Outlook: The company plans to continue focusing on its core clinical programs, including the development of BXCL501 and BXCL701, while also exploring strategic options to improve liquidity and reduce operating expenses.
SEC Filing: BioXcel Therapeutics, Inc. [ BTAI ] - 10-Q - Aug. 12, 2025