Healthcare · Biotechnology
Price
$1.10
Market Cap
$34.0M
Employees
37
Beta
0.27
Avg Volume
750,661
CEO
Vimal D. Mehta
BioXcel Therapeutics, Inc. is a biopharmaceutical firm that has reached the commercial phase, distinguishing itself by leveraging artificial intelligence to advance the creation of transformative therapies in the fields of neuroscience and immuno-oncology. Their distinctive methodology, termed 'drug re-innovation,' involves harnessing the power of big data and proprietary machine learning algorithms to uncover novel therapeutic applications for existing approved medications or drug candidates with established clinical validation. The company's flagship commercial offering, IGALMI (known during development as BXCL501), is a unique sublingual film delivering dexmedetomidine, designed for the rapid management of agitation experienced by adults with schizophrenia or bipolar I or II disorder. Beyond its current commercial use, BXCL501 is also undergoing further clinical investigation. Studies are underway to assess its efficacy for agitation in individuals with Alzheimer's disease, as an add-on therapy for major depressive disorder, and for use in community settings to address agitation linked to bipolar disorders and schizophrenia. Furthermore, BioXcel is advancing BXCL502, a candidate therapy targeting chronic agitation prevalent in dementia patients. Another key pipeline asset is BXCL701, an orally administered systemic innate immunity activator currently under investigation. This compound shows promise for treating aggressive prostate cancer and advanced solid tumors that have either become resistant to checkpoint inhibitors or have not yet received such treatment. Established in 2017, the company maintains its headquarters in New Haven, Connecticut.
Runs with full report
Price Overview
Last updated: Jul 7, 2026 3:40am (just now)
Current data · timestamped when a report runs
$1.10
Change · Jul 7
-0.28 (-20.29%)
Day Range
$1.10 – $1.35
52-Week Range
$1.01 – $8.08
50-Day MA
$1.20
200-Day MA
$1.69
Volume
4,037,659.00
Analyst Price Targets
Low
$1.00
Consensus
$12.00
High
$25.00
(5 analysts)
Share Structure
Outstanding
30,877,600.00
Float
29,446,979.00
Free Float
95.4%
High free float
— 95.4% of shares trade freely, ~4.6% held by insiders/institutions
Very liquid — most shares trade freely. Low insider ownership can mean less management alignment, but makes large position sizing straightforward.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-0.19
Stock Price: $1.10
EPS (Diluted): -5.73
EPS (Diluted): -5.73
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
-0.20
Stock Price: $1.10
Total Equity: -$95.46M
Shares: 12,208,000
Total Equity: -$95.46M
Shares: 12,208,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-2.02
Market Cap: $33.97M
Total Debt: $109.59M
Cash: $28.42M
EBITDA: -$52.61M
Total Debt: $109.59M
Cash: $28.42M
EBITDA: -$52.61M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$100.8M
Market Cap: $33.97M
Total Debt: $109.59M
Cash: $28.42M
Total Debt: $109.59M
Cash: $28.42M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
30.42
Stock Price: $1.10
Revenue: $642,000
Shares: 12,208,000
Revenue: $642,000
Shares: 12,208,000
EV/Sales (Total value vs revenue — works when P/E can't)
API156.97
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
74.5%
Gross Profit: $478,000
Revenue: $642,000
Revenue: $642,000
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-7,829.8%
Operating Income: -$50.27M
Revenue: $642,000
Revenue: $642,000
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-10,887.4%
Net Income: -$69.90M
Revenue: $642,000
Revenue: $642,000
ROE (Profit from shareholder equity)
APINet Income / Total Equity
75.8%
Net Income: -$69.90M
Total Equity: -$95.46M
Total Equity: -$95.46M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
-3,439.5%
Operating Income: -$50.27M
Tax Rate: 0.0%
Equity: -$95.46M
Total Debt: $109.59M
Cash: $28.42M
Tax Rate: 0.0%
Equity: -$95.46M
Total Debt: $109.59M
Cash: $28.42M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
0.83
Current Assets: $44.69M
Current Liabilities: $53.93M
Current Liabilities: $53.93M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
-1.15
Short-Term Debt: $24.93M
Long-Term Debt: $84.66M
Total Debt: $109.59M
Total Equity: -$95.46M
Long-Term Debt: $84.66M
Total Debt: $109.59M
Total Equity: -$95.46M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$0.05
Revenue: $642,000
Shares: 12,208,000
Shares: 12,208,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$-7.82
Total Equity: -$95.46M
Shares: 12,208,000
Shares: 12,208,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-4.72
Operating CF: -$57.62M
CapEx: $0.00
Shares: 12,208,000
CapEx: $0.00
Shares: 12,208,000
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $1.10
Stock Price: $1.10
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$69.90M
Net Income: -$69.90M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares BTAI against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jul 7, 2026 1:10am (2h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $0 | $375,000 | $1.4M | $2.3M | $642,000 |
| Cost of Revenue | $0 | $20,000 | $1.3M | $2.1M | $164,000 |
| Gross Profit | $0 | $355,000 | $120,000 | $123,000 | $478,000 |
| Operating Expenses | $106.9M | $160.0M | $171.9M | $67.4M | $50.7M |
| Operating Income | -$106.9M | -$159.6M | -$171.8M | -$67.2M | -$50.3M |
| Net Income | -$106.9M | -$165.8M | -$179.1M | -$59.6M | -$69.9M |
| EBITDA | -$106.6M | -$157.2M | -$165.4M | -$44.2M | -$52.6M |
| EPS | $-64.87 | $-94.67 | $-98.35 | $-23.51 | $-5.73 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jul 7, 2026 1:10am (2h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $233.0M | $193.7M | $65.2M | $29.9M | $28.4M |
| Total Current Assets | $236.8M | $202.9M | $72.1M | $37.4M | $44.7M |
| Total Assets | $239.4M | $205.9M | $73.7M | $38.3M | $44.9M |
| Current Liabilities | $16.7M | $32.9M | $27.3M | $22.2M | $53.9M |
| Long-Term Debt | $0 | $93.1M | $100.6M | $102.5M | $84.7M |
| Total Liabilities | $17.8M | $129.1M | $130.2M | $131.4M | $140.4M |
| Total Equity | $221.7M | $76.8M | -$56.5M | -$93.1M | -$95.5M |
| Retained Earnings | -$245.8M | -$411.5M | -$590.6M | -$650.2M | -$720.1M |
Cash Flow (Annual)
Last updated: Jul 7, 2026 1:10am (2h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$82.2M | -$135.3M | -$155.0M | -$72.0M | -$57.6M |
| Capital Expenditure | $-445,000 | $-139,000 | $-20,000 | $0 | $0 |
| Free Cash Flow | -$82.6M | -$135.5M | -$155.0M | -$72.0M | -$57.6M |
| Acquisitions (net) | $0 | $0 | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $19.8M | -$39.2M | -$128.5M | -$35.4M | -$1.1M |
Analyst Estimates (Annual)
Last updated: Jul 7, 2026 1:10am (2h ago)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$18.9M $9.2M – $27.3M
|
$63.3M $30.9M – $91.3M
|
$178.8M $87.3M – $257.9M
|
$399.4M $194.9M – $576.2M
|
| EBITDA |
-$11.4M -$16.4M – -$5.5M
|
-$38.0M -$54.8M – -$18.5M
|
-$107.3M -$154.8M – -$52.4M
|
-$239.6M -$345.7M – -$117.0M
|
| Net Income |
-$18.7M -$24.1M – -$13.2M
|
-$9.2M -$15.2M – -$3.2M
|
-$7.6M -$11.9M – -$2.5M
|
$18.1M $6.0M – $28.5M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jul 7, 2026 1:10am (2h ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | — | +268.0% | +64.2% | -71.7% |
| Gross Profit Growth | — | -66.2% | +2.5% | +288.6% |
| Operating Income Growth | -49.3% | -7.6% | +60.9% | +25.2% |
| Net Income Growth | -55.0% | -8.0% | +66.7% | -17.3% |
| EBITDA Growth | -47.5% | -5.2% | +73.3% | -19.1% |
Insider Trading (Recent)
Last updated: Jul 7, 2026 1:10am (2h ago)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-15 | Rodriguez Javier | M-Exempt | 35.00 | $0.00 | $0 |
| 2026-06-15 | Rodriguez Javier | M-Exempt | 35.00 | $0.00 | $0 |
| 2026-06-15 | Steinhart Richard I | M-Exempt | 35.00 | $0.00 | $0 |
| 2026-06-15 | Steinhart Richard I | M-Exempt | 35.00 | $0.00 | $0 |
| 2026-06-15 | Yocca Frank | M-Exempt | 35.00 | $0.00 | $0 |
| 2026-06-15 | Yocca Frank | M-Exempt | 35.00 | $0.00 | $0 |
| 2026-06-15 | Mehta Vimal | M-Exempt | 219.00 | $0.00 | $0 |
| 2026-06-15 | Mehta Vimal | M-Exempt | 219.00 | $0.00 | $0 |
| 2026-05-04 | Yocca Frank | M-Exempt | 17,500.00 | $0.00 | $0 |
| 2026-05-04 | Yocca Frank | M-Exempt | 17,500.00 | $0.00 | $0 |
| 2026-05-20 | Yocca Frank | S-Sale | 6,845.00 | $1.09 | $7,427 |
| 2026-05-04 | Rodriguez Javier | M-Exempt | 17,500.00 | $0.00 | $0 |
| 2026-05-04 | Rodriguez Javier | M-Exempt | 17,500.00 | $0.00 | $0 |
| 2026-05-20 | Rodriguez Javier | S-Sale | 6,560.00 | $1.08 | $7,111 |
| 2026-05-04 | Steinhart Richard I | M-Exempt | 17,500.00 | $0.00 | $0 |
| 2026-05-04 | Steinhart Richard I | M-Exempt | 17,500.00 | $0.00 | $0 |
| 2026-05-20 | Steinhart Richard I | S-Sale | 6,845.00 | $1.09 | $7,427 |
| 2026-05-04 | Mehta Vimal | M-Exempt | 49,758.00 | $0.00 | $0 |
| 2026-05-04 | Mehta Vimal | M-Exempt | 49,758.00 | $0.00 | $0 |
| 2026-05-20 | Mehta Vimal | S-Sale | 19,419.00 | $1.09 | $21,108 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for BTAI — it's generated by the pipeline (
market-narrative step).
No community reviews yet for BTAI.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
personal — only you see this
Sign in to save personal notes and rate your interest in this stock.
Data via Financial Modeling Prep · Cached for performance · fmp
v20260706-213327 · 1f28e06c · 2026-07-06 21:33:45