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Dec 31, 2022
Bioxcel Therapeutics Q4 2022 Earnings Report
Reported fourth quarter and full year financial results, highlighting IGALMI™ commercial execution and multiple pivotal data readouts expected in Q2 2023 for BXCL501.
Key Takeaways
BioXcel Therapeutics reported Q4 2022 financial results with a net revenue of $238,000 and a net loss of $54.8 million. The company is focused on the commercial execution of IGALMI and anticipates pivotal data readouts for BXCL501 in Q2 2023.
IGALMI™ commercial execution is underway in 2023, focusing on market access and demand generation.
Multiple pivotal data readouts for BXCL501 are expected in Q2 2023, targeting 139 million agitation episodes.
Positive data for BXCL701 in small cell neuroendocrine metastatic castration-resistant prostate cancer (SCNC) further validates the Company’s AI drug discovery.
The company is exploring strategic options for its OnkosXcel subsidiary.
Bioxcel Therapeutics
Bioxcel Therapeutics
Forward Guidance
BioXcel Therapeutics anticipates key milestones including commercial execution of IGALMI, data readouts for BXCL501, and advancing BXCL701 into a Phase 2b registrational trial.
Positive Outlook
- Commercial execution of IGALMI is underway.
- Pivotal data readouts for BXCL501 are expected in Q2 2023.
- Advancing BXCL701 into a Phase 2b registrational trial.
- Exploring strategic options for OnkosXcel subsidiary.
- Strong financial foundation and late-stage programs.
Challenges Ahead
- Dependence on the success and commercialization of IGALMI™ and other product candidates
- Limited experience in marketing and selling drug products
- The risk that IGALMI or the Company’s product candidates may not be accepted by physicians or the medical community in general
- The failure of preliminary data from its clinical studies to predict final study results
- Failure of its early clinical studies or preclinical studies to predict future clinical studies