Bioxcel Therapeutics ( (BTAI) ) has released its Q4 earnings. Here is a breakdown of the information Bioxcel Therapeutics presented to its investors.
BioXcel Therapeutics, Inc. is a biopharmaceutical company that leverages artificial intelligence to develop innovative treatments in the neuroscience sector, focusing on addressing unmet medical needs through drug re-innovation.
In its latest earnings report, BioXcel Therapeutics highlighted significant progress in its clinical programs and financial performance for the fourth quarter and full year 2024. The company is advancing its SERENITY At-Home Phase 3 trial, which aims to expand the use of its lead asset, BXCL501, for treating agitation associated with bipolar disorders and schizophrenia in a home setting.
Key financial metrics from the report show that BioXcel’s net revenue from IGALMI increased to $2.3 million for the full year 2024, up from $1.4 million in 2023. The company also reported a notable reduction in net loss, from $179.1 million in 2023 to $59.6 million in 2024, driven by decreased R&D and SG&A expenses. Additionally, BioXcel strengthened its cash position through a $14 million equity financing, bringing its total cash to approximately $35 million as of early March 2025.
BioXcel’s strategic focus remains on advancing its late-stage clinical programs, with the SERENITY and TRANQUILITY trials being pivotal to its future growth. The company is also maintaining its market presence with IGALMI, despite minimal commercial support, and is optimistic about the potential for BXCL501 to address significant market opportunities.
Looking ahead, BioXcel Therapeutics is poised to continue its development efforts, with expectations for topline data from the SERENITY trial in the second half of 2025. The company remains committed to leveraging its AI-driven approach to expand its pipeline and address critical needs in neuroscience.