BioXcel Therapeutics says has raised $37.3M since July 1 under ATM offering

On April 3, the company entered into an Equity Distribution Agreement with Canaccord Genuity LLC to sell shares of Common Stock through any method permitted that is deemed an “at the market offering” as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended, under which Canaccord Genuity LLC will act as sales agent. Between July 1, 2025 and September 15, 2025, the company raised an aggregate of $37.3M, including (i) aggregate gross proceeds of approximately $27.6M pursuant to the sale of 9,312,892 shares under the ATM Program and (ii) aggregate gross proceeds of approximately $9.7M pursuant to the exercise of outstanding warrants to purchase a total of 2,300,000 shares. As of September 12, 2025, the company had a total of 19,646,801 shares outstanding. As a result of the receipt of these proceeds, the company said in a regulatory filing that it believes that their existing cash and cash equivalents will be sufficient to enable them to fund operating expenses and capital expenditure requirements into the first quarter of 2026.