Bioxcel Therapeutics (BTAI) AI Stock Analysis

• Market Cap: $8.67M
• Dividend Yield: N/A
• Average Volume (3M): 113.05K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.17
• Revenue Growth: 64.20%
• EPS Growth: 73.71%
• Country: US
• Employees: 37
• Sector: Healthcare
• Sector Strength: 53
• Industry: Biotechnology
• EPS (TTM): -3.57
• Shares Outstanding: 5,486,038
• 10 Day Avg. Volume: 75,196
• 30 Day Avg. Volume: 113,053
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 0.00
• Price to Cash Flow (P/CF): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 10.53
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: 40.28
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $33.00
• Price Target Upside: 2056.86% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 2

Bioxcel Therapeutics' stock is rated at the lowest end of the scale due to substantial financial instability, including ongoing losses, high debt, and negative cash flows. Short-term technical indicators and valuation metrics further highlight the current challenges. The company needs to address these financial and operational issues to improve its stock performance.

Positive Factors

Clinical Trials

The initiation of the Phase 3 SERENITY At-Home study for Igalmi is seen as a positive development, potentially driving increased revenue.

Regulatory Progress

BTAI shares are trading +150% after announcing that the FDA has concluded the site inspection for one of the sites in the TRANQUILITY II phase 3 trial, with voluntary action indicated.

Strategic Developments

BTAI is no longer required to run the TRANQUILITY At-Home study, which is considered a net incremental positive.

Negative Factors

Financial Performance

Sales reported were roughly $214K, well below the $1.2M that was previously forecasted.

Financial Risks

There is potential dilution required to satisfy covenants and mitigate financial risks.

Market Sentiment

The stock has been beaten down due to financial risks and investor fatigue, posing challenges for the company.

Bioxcel Therapeutics Business Overview & Revenue Model

Company Description

BioXcel Therapeutics, Inc. is a commercial-stage biopharmaceutical company utilizing artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology. The company's drug re-innovation approach leverages existing approved drugs and/or clinically validated product candidates together with big data and proprietary machine learning algorithms to identify new therapeutic indices. Its commercial product, IGALMI (developed as BXCL501) is a proprietary, sublingual film formulation of dexmedetomidine for the acute treatment of agitation associated with schizophrenia or bipolar I or II disorder in adults. The company also continues to conduct clinical trials evaluating BXCL501 for the treatment of agitation in Alzheimer's disease patients, and for adjunctive treatment of patients with major depressive disorder, as well as in the community for agitation associated with bipolar disorders and schizophrenia. In addition, it is developing BXCL502 as a potential therapy for chronic agitation in dementia; and BXCL701, an investigational, orally administered, systemic innate immunity activator for the treatment of aggressive forms of prostate cancer and advanced solid tumors that are refractory or treatment naïve to checkpoint inhibitors. The company was incorporated in 2017 and is headquartered in New Haven, Connecticut.

How the Company Makes Money

Bioxcel Therapeutics generates revenue primarily through the commercialization of its drug candidates, once they receive regulatory approval. The company's revenue streams include direct sales of approved therapies and potential milestone payments and royalties from licensing agreements or partnerships with other pharmaceutical companies. Their revenue model is heavily reliant on the successful development and commercialization of their drug pipeline, and they may also engage in collaborations that provide funding for research and development in exchange for potential future revenue sharing. Additionally, strategic partnerships with larger pharmaceutical firms can provide upfront payments or cost-sharing arrangements that contribute to their earnings, although specific details of such partnerships are not publicly detailed.

Bioxcel Therapeutics Financial Statement Overview

Summary

Bioxcel Therapeutics faces significant financial challenges, with ongoing losses and negative cash flows. While revenue has grown, profitability and financial stability are critical areas of concern, compounded by high debt levels and negative equity. The company needs to address these issues to improve long-term viability.

Income Statement

Bioxcel Therapeutics has shown some improvement in revenue, increasing from $1.38 million in 2023 to $2.27 million in 2024. However, the company remains unprofitable, with a significant net loss of $59.6 million in 2024. The EBIT and EBITDA margins are negative, indicating operational challenges. Despite revenue growth, profitability remains a key concern.

Balance Sheet

The company's balance sheet reveals high leverage, with total debt of $102.6 million and negative stockholders' equity of $93.1 million in 2024. This results in a negative equity ratio, indicating financial instability. The debt-to-equity ratio is undefined due to negative equity, posing a risk to financial health.

Cash Flow

Operating cash flow remains negative at $72 million in 2024, though improved from 2023. Free cash flow is similarly negative, reflecting the company's ongoing cash burn. The operating cash flow to net income ratio is challenging due to negative income, which could impact liquidity if the trend continues.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
2.27M	1.38M	375.00K	0.00	0.00
	Gross Profit
2.27M	120.00K	355.00K	-297.00K	-188.00K
	EBIT
-67.25M	-171.78M	-159.65M	-106.94M	-82.30M
	EBITDA
-67.25M	-165.42M	-157.38M	-107.00M	-81.98M
	Net Income Common Stockholders
-59.60M	-179.05M	-171.85M	-106.63M	-82.01M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
29.85M	65.22M	193.72M	232.97M	213.12M
	Total Assets
38.34M	73.70M	205.85M	239.44M	219.94M
	Total Debt
102.57M	101.38M	94.16M	1.40M	1.64M
	Net Debt
72.72M	36.16M	-99.57M	-231.57M	-211.48M
	Total Liabilities
131.44M	130.21M	129.08M	17.77M	13.24M
	Stockholders Equity
-93.10M	-56.51M	76.78M	221.67M	206.70M
Cash Flow		Free Cash Flow
-72.03M	-155.03M	-135.48M	-82.60M	-66.67M
	Operating Cash Flow
-72.03M	-155.01M	-135.34M	-82.15M	-66.35M
	Investing Cash Flow
0.00	-20.00K	-139.00K	-445.00K	-316.00K
	Financing Cash Flow
36.66M	26.52M	96.24M	102.45M	247.36M

Bioxcel Therapeutics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.53
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BTAI, the sentiment is Negative. The current price of 1.53 is below the 20-day moving average (MA) of 1.78, below the 50-day MA of 2.08, and below the 200-day MA of 7.02, indicating a bearish trend. The MACD of -0.12 indicates Negative momentum. The RSI at 36.64 is Neutral, neither overbought nor oversold. The STOCH value of 7.38 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BTAI.

Bioxcel Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	52 Neutral	$5.23B	3.70	-41.86%	2.84%	16.58%	-0.16%
RLMD	41 Neutral	$11.86M	―	-132.33%	―	―	19.21%
CTXR	38 Underperform	$7.15M	―	-52.85%	―	―	8.99%
BTAI	37 Underperform	$8.67M	―	82.91%	―	64.20%	73.71%
ATHA	36 Underperform	$9.94M	―	-110.77%	―	―	18.61%
HOOK	33 Underperform	$18.03M	―	-61.68%	―	118.32%	61.16%
TRAW	28 Underperform	$7.95M	―	-2255.45%	―	―	-404.67%

Bioxcel Therapeutics Corporate Events

Bioxcel Therapeutics Appoints Dr. Rajiv Patni to Board

On January 15, 2025, BioXcel Therapeutics increased its Board of Directors from seven to eight members by appointing Dr. Rajiv Patni as a Class II director. Dr. Patni brings extensive experience in global product development within the biopharmaceutical sector and is expected to contribute significant value to the company’s strategic direction.