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BioXcel Therapeutics, Inc.(BTAI)Earnings, Financials & Key Ratios
BTAI•NASDAQ
$1.04
Price updated Jul 7, 2026
AboutBioXcel Therapeutics, Inc. is a commercial-stage biopharmaceutical company utilizing artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology. The company's drug re-innovation approach leverages existing approved drugs and/or clinically validated product candidates together with big data and proprietary machine learning algorithms to identify new therapeutic indices. Its commercial product, IGALMI (developed as BXCL501) is a proprietary, sublingual film formulation of dexmedetomidine for the acute treatment of agitation associated with schizophrenia or bipolar I or II disorder in adults. The company also continues to conduct clinical trials evaluating BXCL501 for the treatment of agitation in Alzheimer's disease patients, and for adjunctive treatment of patients with major depressive disorder, as well as in the community for agitation associated with bipolar disorders and schizophrenia. In addition, it is developing BXCL502 as a potential therapy for chronic agitation in dementia; and BXCL701, an investigational, orally administered, systemic innate immunity activator for the treatment of aggressive forms of prostate cancer and advanced solid tumors that are refractory or treatment naïve to checkpoint inhibitors. The company was incorporated in 2017 and is headquartered in New Haven, Connecticut.Show more
- Revenue$642K-71.7%
- EBITDA-$50M+25.4%
- Net Income-$70M-17.3%
- EPS (Diluted)-5.73+75.6%
- Gross Margin74.45%+1271.7%
- EBITDA Margin-7783.02%-163.5%
- Operating Margin-7829.75%-163.8%
- Net Margin-10887.38%-313.9%
BTAI Price & Volume
BioXcel Therapeutics, Inc. (BTAI) stock price & volume — 10-year historical chart
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Persistent Cash Burn Threatens BTAI Solvency Outlook
Investment Thesis • Updated 2026Q1
VerdictNegative
Growth:Contracting
Profitability:Negative
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Liquidity and dilution risk
Key Thesis Takeaways
- BioXcel Therapeutics faces a precarious financial outlook characterized by stagnant commercial adoption of its IGALMI product line and a rapidly eroding balance sheet.
- The company's inability to achieve meaningful operating leverage, evidenced by consistent net losses, suggests that current commercial strategies are insufficient to sustain its high fixed-cost R&D and SG&A structure.
- Investors should monitor the company's critical liquidity position, as the combination of negative equity and significant debt obligations may necessitate further dilutive financing to maintain operations.
Verdict Logic
the company's negative equity position of -$105.5 million and the rapid depletion of cash reserves to $17.2 million suggest an unsustainable capital structure that poses significant risk to shareholders.
BTAI Growth Metrics
BioXcel Therapeutics, Inc. (BTAI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years19.63%
TTM-63.28%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-88.04%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM50.44%
Return on Capital
10 Years-274.32%
5 Years-383.79%
3 Years-596.21%
Last Year-1416.97%
BTAI Recent Earnings
BioXcel Therapeutics, Inc. (BTAI) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 4/12 qtrs (33%)
Q2 2026Latest
May 15, 2026Metric
Actual
Est
EPS
$0.54-1.4%
$0.53
Rev
$206,000-46.0%
$381,491
Q2 2026
Mar 26, 2026Metric
Actual
Est
EPS
$0.58-70.6%
$0.34
Rev
$256,000+69.0%
$151,520
Q4 2025
Nov 12, 2025Metric
Actual
Est
EPS
$2.18-41.6%
$1.54
Rev
$98,000-42.0%
$169,020
Q3 2025
Aug 12, 2025Metric
Actual
Est
EPS
$2.45-6.5%
$2.30
Rev
$120,000-53.4%
$257,500
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 15, 2026 | $0.54vs $0.53-1.4% | $206,000vs $381,491-46.0% |
| Q2 2026 | Mar 26, 2026 | $0.58vs $0.34-70.6% | $256,000vs $151,520+69.0% |
| Q4 2025 | Nov 12, 2025 | $2.18vs $1.54-41.6% | $98,000vs $169,020-42.0% |
| Q3 2025 | Aug 12, 2025 | $2.45vs $2.30-6.5% | $120,000vs $257,500-53.4% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for BioXcel Therapeutics, Inc. (BTAI)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $1.04 | $32.11M | -0.18 | -71.67% | -10887.38% | — | — | |
| $26.20 | $4.49B | 11.44 | 11.87% | 34.3% | 35.65% | — | |
| $22.25 | $1.64B | 6.74 | 18.52% | 118.91% | 47.59% | — | |
| $249.76 | $12.85B | -67.87 | 65.55% | -26.59% | -260.01% | — | |
| $94.04 | $10.1B | 114.68 | 12.79% | 6.23% | 7.5% | — | |
| $89.20 | $7.4B | 11.47 | 114.51% | -22.58% | — | — |
Compare BTAI vs Peers
BioXcel Therapeutics, Inc. (BTAI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
BTAI SEC Filings & Documents
BioXcel Therapeutics, Inc. (BTAI) SEC filings — annual & quarterly reports (10-K, 10-Q)
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BTAI Frequently Asked Questions
BioXcel Therapeutics, Inc. (BTAI) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is BioXcel Therapeutics, Inc.'s revenue?
BioXcel Therapeutics, Inc. (BTAI) reported $0.7M in revenue for fiscal year 2025.
How fast is BioXcel Therapeutics, Inc. growing?
BioXcel Therapeutics, Inc. (BTAI) saw revenue decline by 71.7% over the past year.
Is BTAI profitable?
BioXcel Therapeutics, Inc. (BTAI) reported a net loss of $75.3M for fiscal year 2025.
Dividend & Returns
What is BioXcel Therapeutics, Inc.'s free cash flow?
BioXcel Therapeutics, Inc. (BTAI) had negative free cash flow of $57.4M in fiscal year 2025, likely due to heavy capital investments.