Bioxcel Therapeutics Inc (BTAI) has released an update.
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BioXcel Therapeutics, Inc. is advancing its clinical programs, specifically targeting agitation in Alzheimer’s, schizophrenia, and bipolar disorders with its drug BXCL501. The company is gearing up for additional Phase 3 trials and discussions with the FDA to secure approval for the at-home treatment of agitation. With a substantial patient population experiencing agitation episodes, BioXcel sees a significant market opportunity. However, it faces financial uncertainty, with cash reserves of $61.6 million as of January 2024 and over $100 million in debt, casting doubt on its long-term viability. BioXcel’s ability to continue operations hinges on raising further capital and the successful development and commercialization of BXCL501 in new therapeutic settings.
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For a comprehensive understanding of the announcement, you can read the full document here.
