Business
BioXcel Therapeutics Reports Third Quarter 2022 Financial Results and Recent Operational Highlights
IGALMI™ (dexmedetomidine) well-positioned for growth in 2023 based on increasing market access, efficient targeting, favorable market drivers, and sales force
About this update from Bioxcel Therapeutics, Inc.
[{"type":"text","content":"IGALMI™ (dexmedetomidine) well-positioned for growth in 2023 based on increasing market access, efficient targeting, favorable market drivers, and sales force expansion in all major U.S. geographies Top-line pivotal data for TRANQUILITY II trial investigating BXCL501 for Alzheimer’s-related agitation expected in 1H 2023 Top-line pivotal data for SERENITY III trial investigating at-home use of BXCL501 for acute treatment of bipolar and schizophrenia-related agitation expected in 1H 2023 Completed multiple, seven-day daily dosing regimen cohorts in ongoing Phase 1 dose-selection trial in healthy volunteers to assess Major Depressive Disorder (MDD) program for at-home use; top-line results expected in 1H 2023 To host conference call today, November 10, 2022, at 8:30 a.m. ET NEW HAVEN, Conn., Nov. 10, 2022 (GLOBE NEWSWIRE) -- BioXcel Therapeutics, Inc. (Nasdaq: BTAI), a biopharmaceutical company utilizing artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology, today announced its financial results for the third quarter ended September 30, 2022 and provided an update on key strategic initiatives. “In the four months since IGALMI’s trade launch, BioXcel Therapeutics is advancing its leadership position in the agitation-treatment market,” said Vimal Mehta, Ph.D., CEO of BioXcel Therapeutics. “In parallel, we are anticipating pivotal trial data readouts investigating BXCL501 for the treatment of Alzheimer’s-related agitation, and bipolar and schizophrenia-related agitation in an at-home setting. We are well-positioned to potentially capture 139 million annual agitation episodes in the U.S.1-5 Our company is rooted in AI-driven innovation, and we are proud to be at the forefront of developing transformative medicines in neuroscience.” Company Highlights Neuroscience FranchiseIGALMI™ (dexmedetomidine) sublingual filmIGALMI is approved by the U.S. Food and Drug Administration (FDA) for the acute treatment of agitation associated with schizophrenia or bipolar I or II disorder in adults.6 Up to 16 million institutional episodes occur annually within these two patient populations in the U.S.1-3 Commercial Increased Market Access: Generated strong initial interest in IGALMI from key stakeholder groups to drive formulary access and pull-through demand. Group Purchasing Organization (GPO) Progr...