Bioxcel Therapeutics Q2 2024 Earnings Report
Key Takeaways
BioXcel Therapeutics reported a net revenue of $1.1 million from IGALMI, a 141% increase compared to the same period in 2023. The company's net loss was $8.3 million, significantly lower than the $53.5 million loss in the second quarter of 2023. The company used $23.2 million in operating cash during the second quarter of 2024, and cash and cash equivalents totaled $56.3 million as of June 30, 2024.
Initiating SERENITY At-Home pivotal Phase 3 trial of BXCL501 for acute treatment of agitation associated with bipolar disorders or schizophrenia.
Advancing plans for TRANQUILITY In-Care pivotal Phase 3 trial with BXCL501 for agitation associated with Alzheimer’s dementia.
Reported positive topline results from IGALMIâ„¢ post-marketing requirement (PMR) study.
Net revenue from IGALMI was $1.1 million for the second quarter of 2024, representing a 141% increase compared to the same period in 2023.