BioXcel Therapeutics’ Q3 2025 Earnings and Clinical Updates

Bioxcel Therapeutics ( (BTAI) ) has released its Q3 earnings. Here is a breakdown of the information Bioxcel Therapeutics presented to its investors.

BioXcel Therapeutics, Inc. is a biopharmaceutical company leveraging artificial intelligence to develop transformative medicines in neuroscience, focusing on agitation treatments for conditions like bipolar disorder, schizophrenia, and Alzheimer’s disease.

In its third-quarter 2025 earnings report, BioXcel Therapeutics announced plans to submit a supplemental New Drug Application (sNDA) for the at-home use of IGALMI® for treating agitation associated with bipolar disorders or schizophrenia. The company also highlighted its progress in the TRANQUILITY In-Care Phase 3 Trial for Alzheimer’s-related agitation.

The company’s financial performance showed a net revenue of $98,000 from IGALMI® for the third quarter, a decrease from $214,000 in the previous year. Research and development expenses increased to $8.7 million due to heightened clinical trial activities, while selling, general, and administrative expenses decreased to $5.4 million. The net loss for the quarter was $30.9 million, compared to $13.7 million in the same period in 2024.

BioXcel Therapeutics is strategically positioning itself for long-term growth by focusing on the potential at-home market for BXCL501, estimated to involve 57 to 77 million annual episodes in the U.S. alone. The company is also preparing for the initiation of the TRANQUILITY In-Care Phase 3 Trial, with feedback from the FDA and ongoing evaluations of proposals from CROs.

Looking ahead, BioXcel Therapeutics remains committed to advancing its clinical programs and achieving key corporate milestones, while maintaining a disciplined approach to managing its cash resources to support future growth and development initiatives.