BioXcel Therapeutics

BioXcel Therapeutics (BTAI) investor relations material

BioXcel Therapeutics Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.

Q4 2025 earnings summary27 Mar, 2026

Executive summary

Submitted sNDA to FDA for IGALMI label expansion to at-home use for acute agitation in bipolar disorders and schizophrenia, with potential approval by year-end 2026.
Advancing commercial launch plans for IGALMI in the at-home setting, supported by third-party market assessment indicating up to 86 million annual addressable episodes.
Focused on expanding BXCL501 clinical programs, including Alzheimer's dementia and opioid withdrawal indications.

Financial highlights

Net revenue from IGALMI was $256,000 for Q4 2025 (down from $366,000 in Q4 2024) and $642,000 for full-year 2025 (down from $2.3 million in 2024).
Cost of goods sold for Q4 2025 was $32,000 (down from $832,000 in Q4 2024); full-year was $164,000 (down from $2.1 million in 2024), mainly due to lower inventory reserve charges.
R&D expenses were $6.7 million for Q4 2025 (up from $5.9 million in Q4 2024) and $30.3 million for full-year 2025 (flat vs. $30.4 million in 2024).
SG&A expenses were $3.8 million for Q4 2025 (down from $4.1 million in Q4 2024) and $20.5 million for full-year 2025 (down from $34.5 million in 2024), reflecting lower personnel and marketing costs.
Operating loss was $10.3 million for Q4 2025 (vs. $10.5 million in Q4 2024); net loss was $12.5 million for Q4 2025 (vs. $10.9 million in Q4 2024).
Full-year 2025 operating loss was $50.5 million (vs. $67.2 million in 2024); net loss was $69.9 million (vs. $59.6 million in 2024).
Cash used in operations for 2025 was $57.6 million, down from $72.0 million in 2024; cash and equivalents totaled $28.8 million at year-end 2025.

Outlook and guidance

sNDA timeline supports potential IGALMI at-home approval by year-end 2026.
Commercial and launch plans for IGALMI at-home are advancing, with market research supporting a large addressable market.
Continued focus on Alzheimer's dementia and opioid withdrawal programs.

Detail the IGALMI at-home market assessment data

Factors raising doubt about going concern status

Define the TRANQUILITY In-Care primary endpoint

Partial view of Summaries dataset, powered by Quartr API

AI can get things wrong. Verify important information.

Research faster. Power your platform.

Latest events from BioXcel Therapeutics

View more events

Next BioXcel Therapeutics earnings date

Q1 20268 May, 2026

Companies

BioXcel Therapeutics

Your earnings  season toolkit.

Download

Free on both iOS & Android.

Next BioXcel Therapeutics earnings date

Q1 20268 May, 2026

The essential earnings season companion

The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.

Leroy DaleyApp Store

One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.

Eferix Drawings Google Play

This is genuinely one of the cleanest and fastest finance apps out there to track the market.

anuj283App Store

Leroy DaleyApp Store

One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.

Eferix Drawings Google Play

This is genuinely one of the cleanest and fastest finance apps out there to track the market.

anuj283App Store

I can't remember the last time an app had such a positive impact on my investment process.

@ankurshah47_ x.com

Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.

Amina0781App Store

Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.

@theshortbearx.com

I can't remember the last time an app had such a positive impact on my investment process.

@ankurshah47_ x.com

Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.

Amina0781App Store

Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.

@theshortbearx.com

I’m actually shocked at just how much I like Quartr. If you’re an analyst & need a strong web tool + mobile app that syncs properly, saves you from manually dialing into calls.

@endthepods x.com

A must have for every investor. includes all quarterly reports with earnings calls and transcripts in single app

Abdulla AlnaamaGoogle Play