BioXcel Therapeutics (BTAI)
Develops neuroscience therapies through a data-driven drug re-innovation model.
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Uses a drug re-innovation model built on existing approved drugs or clinically validated candidates, big data, and proprietary machine-learning algorithms. The current pipeline includes FDA-approved IGALMI for acute agitation associated with schizophrenia or bipolar I or II in adults, BXCL501 for additional uses, and OnkosXcel’s investigational BXCL701.
Applies a drug re-innovation model to neuroscience, combining existing approved drugs or clinically validated candidates with big data and proprietary machine-learning algorithms to identify therapeutic indications.
IGALMI, a dexmedetomidine sublingual film, is FDA approved for acute agitation associated with schizophrenia or bipolar I or II disorder in adults. BXCL501 is the most advanced neuroscience clinical asset for additional uses, while wholly owned OnkosXcel develops investigational immuno-oncology candidate BXCL701.
A reprioritization directed focus toward agitation-market opportunities and reduced institutional IGALMI commercialization expense. Program progress remains subject to clinical and regulatory review; the company has disclosed dependence on additional financing.
Company facts
Target rangeAs of Sep 2, 2026
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating |
|---|---|---|---|---|
| Jan 7, 2025 | B of A Securities | Downgrade | Buy | Underperform |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $12.8M · Total debt $104.5M · Total assets $28.8M · Shareholders' equity −$115.5M
- Revenue
- $182.0K
- Operating income
- −$10.2M
- Net income
- −$14.7M
No dividends on record.
| Institutions40 holders · as of Mar 31, 2026 | 17.38% | 5.44M shares | |
| Insiders8 holders · as of Jun 17, 2026 | 0.85% | 266.3K shares | |
| Strategic holders2 holders · as of Sep 28, 2023 | 2.19% | 685.5K shares | |
| Otherremainder | 79.58% | 24.91M shares |
31.31M company shares as of Sep 3, 2026 · institutions as of Mar 31, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Evidence |
|---|---|---|---|
Millennium Management LLCInstitution | 6.19% | 1.94M | 13Fas of Mar 31, 2026 |
Armistice Capital, LLCInstitution | 6.10% | 1.91M | 13Fas of Mar 31, 2026 |
BioXcel LLC1,2Strategic10 percent owner | 1.90% | 594,040 | 13Dfiled Sep 28, 2023 ↗ |
Oaktree Capital Management LPInstitution | 0.77% | 241,188 | 13Fas of Mar 31, 2026 |
Geode Capital Management, LLCInstitution | 0.74% | 230,168 | 13Fas of Mar 31, 2026 |
| See all 25 → | |||
- BioXcel LLC's transaction reports restate only vehicles that traded; the 2023 ownership statement (594.0K) is used instead.
- BioXcel LLC reports a block also reported by another filer; it is counted once, under that filer.
13F — a manager's quarterly holdings · 13D/13G — an ownership statement filed at 5% or more
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 20, 2026 | Vimal Mehta | director, officer: CEO and President | −19,419 | $1.09 |
| May 20, 2026 | Richard I. Steinhart | officer: Chief Financial Officer | −6,845 | $1.09 |
| May 20, 2026 | Javier Rodriguez | officer: See Remarks | −6,560 | $1.08 |
| May 20, 2026 | Frank Yocca | officer: Chief Scientific Officer | −6,845 | $1.09 |
- Eli Lilly
Intramuscular option for acute agitation in schizophrenia and bipolar I
- Pfizer
Intramuscular treatment for acute agitation in schizophrenia
- Neumora Therapeutics
Clinical Alzheimer's-agitation program using a V1a receptor antagonist
- AbbVie
Oral treatment coverage in schizophrenia and bipolar I mania
- Bristol-Myers Squibb
Oral M1/M4 treatment for adult schizophrenia
ComparePre-market
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| BioXcel Therapeutics | $0.1230 | +12.74% | $3.3M | — | — | 4.5 | +51.7% |
| Eli Lilly | $1,165.17 | +0.50% | $1.09T | 38.9 | 28.4 | 13.7 | +47.7% |
| Pfizer | $28.99 | −0.14% | $165.40B | 38.3 | 10.4 | 2.6 | +2.6% |
| Neumora Therapeutics | $1.38 | +3.38% | $255.7M | — | — | — | — |
| AbbVie | $261.07 | −0.24% | $462.37B | 73.7 | 17.2 | 7.2 | +10.2% |
| Bristol-Myers Squibb | $67.64 | −0.02% | $138.21B | 14.9 | 10.6 | 2.8 | +5.7% |
| Median | 38.6 | 13.9 | 5.0 | +8.0% |