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Mar 31, 2023
Bioxcel Therapeutics Q1 2023 Earnings Report
BioXcel Therapeutics reported financial results for the first quarter ended March 31, 2023, and provided an update on key strategic initiatives.
Key Takeaways
BioXcel Therapeutics reported a net revenue of approximately $206,000 for the quarter. The company's net loss was $52.8 million. Cash and cash equivalents totaled $165.5 million as of March 31, 2023.
IGALMI commercial momentum accelerating with doubling of formulary wins, unlocking more than $55 million in targeted market opportunity, and an additional $255 million scheduled to vote
Top-line data from pivotal SERENITY III Phase 3 trial (Part 1) for BXCL501 in bipolar or schizophrenia-associated agitation for at-home use expected in May 2023
Top-line data from repeat dosing of BXCL501 in Phase 1b trial for Major Depressive Disorder program in healthy volunteers expected in May 2023
Top-line data from pivotal TRANQUILITY II Phase 3 trial for BXCL501 for acute treatment of agitation associated with Alzheimer’s disease expected in June 2023
Forward Guidance
BioXcel Therapeutics believes that full execution of its strategic financing with Oaktree and Qatar Investment Authority, and IGALMI revenues, would result in a cash runway into 2025.
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