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Sep 30, 2024
Bioxcel Therapeutics Q3 2024 Earnings Report
BioXcel Therapeutics reported financial results for Q3 2024 and advanced two pivotal Phase 3 trials of BXCL501.
Key Takeaways
BioXcel Therapeutics reported a net revenue of $214 thousand for the third quarter of 2024, a decrease compared to $341 thousand for the same period in 2023. R&D expenses decreased to $5.1 million, and SG&A expenses decreased to $7.7 million. The company's net loss was $13.7 million, compared to a net loss of $50.5 million for the same period in 2023. Cash and cash equivalents totaled $40.4 million as of September 30, 2024.
Net revenue from IGALMI was $214 thousand for the third quarter of 2024, compared to $341 thousand for the same period in 2023.
Research and Development (R&D) expenses were $5.1 million for the third quarter of 2024, compared to $19.6 million for the same period in 2023.
Selling, General and Administrative (SG&A) expenses were $7.7 million for the third quarter of 2024, compared to $24.3 million for the same period in 2023.
BioXcel Therapeutics had a net loss of $13.7 million for the third quarter of 2024, compared to a net loss of $50.5 million for the same period in 2023.
Revenue by Segment
Forward Guidance
The company is focused on the clinical development of BXCL501 and is advancing the SERENITY At-Home trial and progressing with the TRANQUILITY In-Care trial.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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