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, Inc. (Nasdaq: BTAI) files a range of documents with the U.S. Securities and Exchange Commission (SEC) that provide detail on its business, risks, governance, and financial condition. As a biopharmaceutical company using artificial intelligence to develop medicines in neuroscience, its SEC filings are a key source for understanding the status of IGALMI (dexmedetomidine) sublingual film, the BXCL501 clinical program, and broader pipeline and corporate activities.
On this page, you can review BioXcel Therapeutics’ current and historical SEC filings, including annual and quarterly reports that discuss its operating losses, funding needs, indebtedness, and going‑concern considerations, as well as risk factors related to IGALMI, BXCL501, BXCL502, BXCL701, and BXCL702. Form 8‑K filings capture material events such as positive topline data from the SERENITY At‑Home Pivotal Phase 3 trial, correlation study results, updates on the timing of a planned supplemental New Drug Application (sNDA) for IGALMI label expansion to at‑home use, financing transactions under an at‑the‑market equity program, and Nasdaq listing compliance notices.
Proxy materials, such as the company’s definitive proxy statement on Schedule 14A, provide information on director elections, advisory votes on executive compensation, auditor ratification, and proposals like a reverse stock split authorization to help maintain Nasdaq listing requirements. These documents also describe the board structure, committee responsibilities, and stockholder voting outcomes.
Stock Titan enhances access to these filings with AI‑powered summaries that explain complex sections in plain language, highlight key points from lengthy reports, and help users quickly locate disclosures on topics such as clinical program updates, capital structure changes, or governance matters. Real‑time integration with the SEC’s EDGAR system allows new filings, including 10‑K annual reports, 10‑Q quarterly reports, 8‑K current reports, and any Form 4 insider transaction filings, to appear promptly with concise AI insights. This makes it easier for investors, analysts, and other interested readers to follow how BioXcel Therapeutics’ regulatory, clinical, and financial profile evolves over time.
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.
BioXcel Therapeutics, Inc. CEO and President Vimal Mehta exercised restricted stock units into common shares in routine compensation-related transactions. On March 14 and March 15, 2026, he exercised a total of 383 RSUs at $0.00 per unit, receiving 383 shares of common stock.
After these exercises, Mehta directly owns 21,259 shares of common stock and holds remaining RSUs of 1,532 and 488 units from prior grants. The filing also shows indirect common stock holdings of 125 shares held by his spouse and 480,343 shares held of record by BioXcel LLC, a subsidiary of BioXcel Holdings, Inc., with detailed beneficial ownership and pecuniary interest disclaimers.
BioXcel Therapeutics, Inc. Chief Financial Officer Richard Steinhart increased his equity stake through routine RSU vesting and exercises. On March 14 and 15, 2026, he exercised Restricted Stock Units that delivered a total of 68 shares of Common Stock at an exercise price of $0.00 per share. Following these transactions, he directly holds 6,645 shares of Common Stock. The filings also show remaining unexercised RSU balances of 247 units from a March 15, 2023 grant and 97 units from a March 14, 2022 grant, each RSU representing the right to receive one share of Common Stock as vesting continues.
BioXcel Therapeutics, Inc. officer Javier Rodriguez reported routine equity compensation activity involving restricted stock units (RSUs). On March 14 and 15, he exercised a total of 68 RSUs for 68 shares of Common Stock at $0.00 per share, reflecting vesting of prior grants.
Following these transactions, Rodriguez directly holds 6,863 shares of Common Stock and remaining RSU balances of 97 and 247 units as shown in the filing. Footnotes explain that RSU grants of 521 units in 2022 and 562 units in 2023 vest 25% after one year and 6.25% quarterly thereafter, subject to continued employment.
BioXcel Therapeutics Chief Scientific Officer Frank Yocca exercised restricted stock units into common shares in routine compensation-related transactions. On March 14 and 15, 2026, he converted a total of 68 RSUs into 68 shares of common stock at $0.00 per share. Following these conversions, he directly holds 6,520 shares of common stock, along with remaining RSU balances from prior grants made in March 2022 (521 RSUs) and March 2023 (562 RSUs) that continue to vest over time, subject to ongoing employment.
BioXcel Therapeutics, Inc. entered into a securities purchase agreement for a registered direct offering of common stock, pre-funded warrants, and accompanying common stock warrants. The company agreed to sell 2,480,294 shares of common stock with accompanying warrants and pre-funded warrants exercisable for up to 2,020,491 shares with accompanying warrants, at combined offering prices of $1.739 and $1.738, respectively.
The accompanying warrants carry a $1.614 exercise price per share, are immediately exercisable, and expire five years after issuance. The offering, conducted under an effective Form S-3 shelf registration, closed with aggregate gross proceeds of approximately $7.8 million. Rodman & Renshaw LLC acted as exclusive placement agent, earning a 6.0% cash fee on gross proceeds, warrants equal to 4.0% of shares placed (180,031 shares) at a $2.0175 exercise price, and specified expense reimbursements.
Separately, under a warrant amendment agreement, the exercise price of certain outstanding warrants to purchase up to 1,385,083 shares held by the purchaser was reduced to $1.614 per share and their term extended to five years following closing, in exchange for approximately $173,135 and a 6.0% cash fee to the placement agent on that amount.
BioXcel Therapeutics is conducting a registered direct offering of 2,480,294 shares of common stock and pre-funded warrants to purchase up to 2,020,491 shares, with accompanying warrants to purchase up to 4,500,785 shares.
The combined purchase price is $1.739 per share plus accompanying warrant (or $1.738 per pre-funded warrant plus warrant). Net proceeds are estimated at approximately $7.3 million after placement agent fees and expenses. Rodman & Renshaw LLC is the exclusive placement agent and will receive a 6.0% cash fee, reimbursement of certain expenses, and placement agent warrants to purchase up to 180,031 shares at an exercise price of $2.0175.
The accompanying and placement agent warrants have a five-year term and an exercise price of $1.614 (investor warrants). Shares outstanding after the offering are stated as 24,496,472 assuming full exercise of the pre-funded warrants and no exercise of accompanying or placement agent warrants. Delivery is expected on or about March 11, 2026.