Bioxcel Therapeutics Q4 2024 Earnings Report
Key Takeaways
In Q4 2024, BioXcel Therapeutics posted $366,000 in revenue from IGALMI, with a net loss of $10.86 million or -$3.57 per share. Both R&D and SG&A expenses were significantly reduced compared to the prior year, contributing to a narrower operating loss. The company ended the quarter with $29.85 million in cash and continues to focus on advancing the SERENITY and TRANQUILITY programs.
Revenue from IGALMI was $366,000 in Q4 2024, slightly down from the prior year.
Net loss narrowed to $10.86 million from $22.26 million in Q4 2023.
R&D expenses dropped to $5.9 million from $9.9 million year-over-year.
Cash and cash equivalents totaled $29.85 million at the end of Q4 2024.
Bioxcel Therapeutics
Bioxcel Therapeutics
Bioxcel Therapeutics Revenue by Segment
Forward Guidance
BioXcel plans to advance its SERENITY and TRANQUILITY Phase 3 trials, aiming for topline data in 2025 and targeting potential label expansions for IGALMI.
Positive Outlook
- SERENITY At-Home trial enrollment over 60% complete.
- TRANQUILITY In-Care Phase 3 trial protocol supported by FDA feedback.
- Cash position strengthened to support development programs.
- Topline data for SERENITY expected in second half of 2025.
- Focus on BXCL501 as a core neuroscience asset with expansion potential.
Challenges Ahead
- Minimal revenue generated from IGALMI sales.
- Cash and equivalents declined from the prior year.
- Ongoing net losses due to high development and operational costs.
- Commercial efforts remain limited with minimal marketing support.
- Regulatory risks remain for investigational uses of BXCL501.