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Dec 31, 2024
Bioxcel Therapeutics Q4 2024 Earnings Report
BioXcel Therapeutics reported a reduced net loss in Q4 2024, driven by significant decreases in R&D and SG&A expenses, while continuing to generate modest revenue from IGALMI.
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
Revenue by Segment
IGALMI Revenue
CapyFin.com 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.