Goldman Sachs suspended the firm’s investment rating, price target, and earnings estimates for BioXcel Therapeutics because of insufficient information on which to base an investment view after the company included a “going concern” warning where it cited it identified conditions and events that raise substantial doubt about its ability to continue with its Q3 earnings release on November 14. The firm anticipates access to capital either through existing credit agreements with Oaktree Capital Management and Qatar Investment Authority or from dilutive financing will be necessary to support ongoing clinical programs for BXCL501.
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