Categories Earnings, Health Care

BioXcel Therapeutics (BTAI) Q4 loss widens on higher expenses

BioXcel Therapeutics, Inc. (NASDAQ: BTAI) reported a wider net loss for the fourth quarter, owing to an increase in research and development expenses.

Being a clinical-stage biopharmaceutical company, which is yet to start marketing its products commercially, BioXcel did not record revenues in the fourth quarter. Net loss widened to $8.3 million from $7.1 million in the fourth quarter of 2018.

R&D Expenses up 8%

Research and development expenses increased 8% year-over-year to $6.5 million during the three-month period, reflecting costs associated with the various drug development programs currently underway. At $1.9 million, general and administrative expenses were up 46% year-over-year.

BioXcel Therapeutics (BTAI) Stock Price Trend

Shares of BioXcel closed the last trading session higher. The stock’s value more than tripled in the past twelve months. In February, it climbed to an all-time high.

“In neuroscience, we have made momentous advancements in the clinical development of BXCL501 and look forward to announcing topline results from our SERENITY program and our Phase 1b/2 TRANQUILITY trial in dementia-related agitation in mid-2020,” said CEO Vimal Mehta.

Key Studies

During the quarter, BioXcel commenced advanced stage clinical trials on its development stage drug candidate BXCL501 for the treatment of agitation in patients with schizophrenia and bipolar disorder. Important data from the trials are expected to come in mid-2020.

Also read: BioXcel Q3 2019 Earnings Conference Call Transcript

The company also received the green signal from the FDA for an investigational new drug application for BXCL501 for the treatment of opioid withdrawal symptoms, which would be an additional indication for the drug.

BXCL701 Evaluation

Also, the clinical evaluation of BXCL701, through the initiation of an open-label phase-II basket trial, was advanced in the final months of 2019. BXCL701 is being evaluated in patients suffering from advanced stage cancers, in combination with Pembrolizumab.

The management intends to use the $60-million proceeds received from the recent common stock offering to fund the company’s clinical, regulatory and operational milestones this year and next year.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

SNAP Earnings: All you need to know about Snap’s Q2 2021 earnings results

Snap Inc. (NYSE: SNAP) reported second quarter 2021 earnings results today. Revenues increased 116% year-over-year to $982 million. Net loss amounted to $151.6 million, or $0.10 per share, compared to

TWTR Earnings: Twitter swings to profit in Q2 as revenues surge 74%; results beat

Microblogging platform Twitter, Inc. (NYSE: TWTR) Thursday reported a profit for the second quarter of fiscal 2021, compared to a loss last year. Both earnings and revenue came in above

Earnings Infographic: Intel (INTC) Q2 2021 profit, revenue beat estimates

Intel Corporation (NASDAQ: INTC) Thursday reported financial results for the second quarter of 2021. The revenue was reported at $19.6 billion compared to $19.7 billion in the previous year's second

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top