The earnings call highlighted progress in clinical trials and significant financial improvements, such as reduced net loss and increased revenue over the nine-month period. However, challenges remain with decreased quarterly revenue, increased costs, and uncertainties regarding cash runway and financing.

Company Guidance

During the recent BioXcel Therapeutics Q3 2024 earnings call, the company provided guidance on its ongoing clinical trials and financial performance. Vimal Mehta, CEO, highlighted the advancement of two pivotal Phase III trials for BXCL501, targeting agitation associated with bipolar disorder, schizophrenia in the home setting, and Alzheimer's dementia. The SERENITY At-Home trial aims for a 9 to 12-month duration with 26 active sites enrolling 200 patients. Financially, the company reported $214,000 in net revenue from IGALMI, marking a decline from $341,000 in Q3 2023, but a 89% year-over-year increase in net revenue for the nine months ended September 30, 2024. Operating expenses saw a reduction, with research and development expenses at $5.1 million, down from $19.6 million the previous year, and selling, general, and administrative expenses reduced to $7.7 million from $24.3 million. The company recorded a net loss of $13.7 million, significantly improved from $50.5 million in Q3 2023, and ended the quarter with $40.4 million in cash and cash equivalents. BioXcel is focused on strengthening its balance sheet and exploring strategic financing alternatives to support its trials through to data readout.

Phase III Trials Progress

BioXcel announced milestones with two pivotal Phase III trials for BXCL501, targeting agitation in bipolar disorder, schizophrenia, and Alzheimer's dementia.

Significant Reduction in Net Loss

Net loss decreased to $13.7 million in Q3 2024 from $50.5 million in Q3 2023, indicating improved financial management.

Substantial Increase in Net Revenue Over Nine Months

Net revenue for the first nine months of 2024 was $1.9 million, an 89% increase from $1 million in the same period in 2023.

Reduction in Operating Expenses

Research and development expenses decreased from $19.6 million in Q3 2023 to $5.1 million in Q3 2024, while selling, general, and administrative expenses decreased from $24.3 million to $7.7 million.

Department of Defense Grant

A Phase IIa efficacy and safety study of BXCL501 for acute stress disorder received funding from a Department of Defense grant.

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Bioxcel Therapeutics (BTAI) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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BTAI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Mar 06, 2025	2024 (Q4)	-0.46 / -	-0.76	―	―	―
Nov 14, 2024	2024 (Q3)	-0.51 / -0.32	-1.72	81.40% (+1.40)	―
Aug 06, 2024	2024 (Q2)	-0.71 / -0.21	-1.83	88.52% (+1.62)	―
May 09, 2024	2024 (Q1)	-0.68 / -0.87	-1.84	52.72% (+0.97)	―
Mar 12, 2024	2023 (Q4)	-0.92 / -0.76	-1.95	61.03% (+1.19)	―
Nov 14, 2023	2023 (Q3)	-1.27 / -1.72	-1.49	-15.44% (-0.23)	―
Aug 14, 2023	2023 (Q2)	-1.74 / -1.83	-1.35	-35.56% (-0.48)	―
May 08, 2023	2023 (Q1)	-1.62 / -1.84	-1.12	-64.29% (-0.72)	―
Mar 09, 2023	2022 (Q4)	-1.42 / -1.95	-0.93	-109.68% (-1.02)	―
Nov 10, 2022	2022 (Q3)	-1.31 / -1.49	-0.96	-55.21% (-0.53)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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BTAI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 14, 2024	$0.62	$0.52	-16.13%
Aug 06, 2024	$0.92	$0.96	+4.35%
May 09, 2024	$2.12	$2.30	+8.49%
Mar 12, 2024	$2.90	$2.77	-4.48%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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