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Jun 30, 2022
Bioxcel Therapeutics Q2 2022 Earnings Report
Announced second quarter 2022 financial results and provided an update on key strategic initiatives.
Key Takeaways
BioXcel Therapeutics reported a net loss of $37.7 million for the second quarter of 2022. As of June 30, 2022, cash and cash equivalents totaled approximately $233.5 million. The company commercially launched IGALMI™ and is advancing its clinical pipeline.
Commercially launched IGALMI™ (dexmedetomidine) sublingual film for the acute treatment of agitation in bipolar I or II disorder and schizophrenia in adult patients
SERENITY III pivotal trial evaluating at-home use of BXCL501 for the acute treatment of agitation in bipolar and schizophrenia patients planned to initiate in 2H 2022 following recent Type B meeting with FDA
Top-line data from TRANQUILITY II pivotal trial for agitation associated with Alzheimer’s disease expected in 1H 2023; TRANQUILITY III enrollment initiating in 2H 2022
Well-funded with cash runway into 2025; received $100 million in total from previously announced $260 million of strategic financing
Forward Guidance
BioXcel Therapeutics is focused on the commercial launch for IGALMI and increasing the opportunity for BXCL501 through at-home, medical setting expansion and the pursuit of multiple additional indications.
Positive Outlook
- Continued execution of land and expand strategy within neuroscience franchise
- Focused on the commercial launch for recently FDA approved drug IGALMI™
- Significantly increasing the opportunity for BXCL501 through at-home, medical setting expansion
- Pursuit of multiple additional indications for BXCL501 franchise
- Well-positioned and have laid a strong foundation to drive long-term sustainable growth
Historical Earnings Impact
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Avg. Return Before/After Earnings
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