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BTAI logoBioXcel Therapeutics, Inc.(BTAI)Earnings, Financials & Key Ratios

BTAI•NASDAQ
$1.30
$3M mkt cap·Price updated May 6, 2026
SectorHealthcareIndustryBiotechnologySub-IndustryNeuroscience and Psychiatry Therapies
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$2M+64.2%
  • EBITDA-$67M+61.0%
  • Net Income-$60M+66.7%
  • EPS (Diluted)-23.51+76.1%
  • Gross Margin5.43%-37.6%
  • EBITDA Margin-2953.93%+76.2%
  • Operating Margin-2967.56%+76.2%
  • Net Margin-2630.14%+79.7%
  • Interest Coverage-4.44+65.6%
Technical→

BTAI Key Insights

BioXcel Therapeutics, Inc. (BTAI) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

  • ✗Weak Piotroski F-Score: 2/9
  • ✗Negative free cash flow
  • ✗Weak momentum: RS Rating 7 (bottom 7%)
  • ✗Shares diluted 39.2% in last year
  • ✗Trading more than 30% below 52-week high
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

BTAI Price & Volume

BioXcel Therapeutics, Inc. (BTAI) stock price & volume — 10-year historical chart

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BTAI Growth Metrics

BioXcel Therapeutics, Inc. (BTAI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years-
3 Years-
TTM-66.96%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM3.92%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM71.83%

Return on Capital

10 Years-111.02%
5 Years-114.24%
3 Years-150.78%
Last Year-215.05%

BTAI Peer Comparison

BioXcel Therapeutics, Inc. (BTAI) competitors in Neuroscience and Psychiatry Therapies — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
ACAD logoACADACADIA Pharmaceuticals Inc.Direct Competitor3.68B21.489.3811.87%36.49%41.9%0.04
INVA logoINVAInnoviva, Inc.Direct Competitor1.91B22.526.8218.52%118.91%46.47%0.23
AXSM logoAXSMAxsome Therapeutics, Inc.Direct Competitor11.46B222.63-60.5065.55%-26.59%-260.01%2.73
CORT logoCORTCorcept Therapeutics IncorporatedDirect Competitor5.6B52.1563.6012.79%6.23%7.5%0.01
PTCT logoPTCTPTC Therapeutics, Inc.Direct Competitor5.52B66.618.56114.51%39.44%
JAZZ logoJAZZJazz Pharmaceuticals plcProduct Competitor14.34B228.57-39.144.88%0.66%0.71%1.26
SUPN logoSUPNSupernus Pharmaceuticals, Inc.Product Competitor2.96B51.45-75.668.63%-3.74%-2.73%0.04
PRAX logoPRAXPraxis Precision Medicines, Inc.Product Competitor7.61B337.95-25.07-100%-58.74%0.00

Compare BTAI vs Peers

BioXcel Therapeutics, Inc. (BTAI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ACAD

Most directly comparable listed peer for BTAI.

Scale Benchmark

vs IQV

Larger-name benchmark to compare BTAI against a more recognizable public peer.

Peer Set

Compare Top 5

vs ACAD, INVA, AXSM, CORT

BTAI Income Statement

BioXcel Therapeutics, Inc. (BTAI) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Sales/Revenue000000375K1.38M2.27M752K
Revenue Growth %-------268%64.2%-66.96%
Cost of Goods Sold01K17K156K0297K20K1.26M2.14M1.04M
COGS % of Revenue------5.33%91.3%94.57%-
Gross Profit
0▲ 0%
-1K▲ 0%
-17K▼ 1600.0%
-156K▼ 817.6%
0▲ 100.0%
-297K▲ 0%
355K▲ 219.5%
120K▼ 66.2%
123K▲ 2.5%
-287K▲ 0%
Gross Margin %------94.67%8.7%5.43%-38.16%
Gross Profit Growth %---1600%-817.65%100%-219.53%-66.2%2.5%-
Operating Expenses2.12M4.54M19.96M33.6M82.3M105.6M160M171.9M67.37M50.09M
OpEx % of Revenue------42666.67%12456.67%2972.99%-
Selling, General & Admin721K1.85M5.4M7.8M24.65M54.01M68.76M83.41M34.49M20.78M
SG&A % of Revenue------18336.27%6044.42%1522.15%-
Research & Development1.4M2.69M14.56M25.8M58.54M51.59M91.24M84.33M30.43M29.27M
R&D % of Revenue------24330.4%6110.58%1343.12%-
Other Operating Expenses0000-888K004.16M2.44M32K
Operating Income
-2.12M▲ 0%
-4.54M▼ 114.0%
-19.96M▼ 340.0%
-33.6M▼ 68.3%
-82.3M▼ 144.9%
-105.89M▼ 28.7%
-159.65M▼ 50.8%
-171.78M▼ 7.6%
-67.25M▲ 60.9%
-50.37M▲ 0%
Operating Margin %-------42572%-12447.97%-2967.56%-6698.4%
Operating Income Growth %--114.01%-339.98%-68.32%-144.92%-28.67%-50.76%-7.6%60.85%-
EBITDA0-4.54M-19.95M-33.45M-82.11M-105.6M-159.32M-171.46M-66.94M-50.07M
EBITDA Margin %-------42484.8%-12424.93%-2953.93%-6658.11%
EBITDA Growth %---339.7%-67.69%-145.5%-28.61%-50.87%-7.62%60.96%34.19%
D&A (Non-Cash Add-back)2.12M1K17K156K188K297K327K318K309K303K
EBIT-2.12M-4.54M-19.27M-32.97M-82.3M-107.29M-157.54M-165.74M-44.47M-51.59M
Net Interest Income0-2K0633K128K-36K-5.68M-7.67M-12.53M-10.74M
Interest Income000633K155K4K2.53M5.65M2.6M1.89M
Interest Expense02K0027K40K8.21M13.31M15.13M12.63M
Other Income/Expense0-2K692K633K128K-1.4M-6.11M-7.27M7.65M-17.84M
Pretax Income
-2.12M▲ 0%
-4.54M▼ 114.1%
-19.27M▼ 324.5%
-32.97M▼ 71.1%
-82.17M▼ 149.2%
-107.29M▼ 30.6%
-165.76M▼ 54.5%
-179.05M▼ 8.0%
-59.6M▲ 66.7%
-68.21M▲ 0%
Pretax Margin %-------44201.87%-12974.86%-2630.14%-9070.61%
Income Tax00000-362K0000
Effective Tax Rate %0%0%0%0%0%0.34%0%0%0%0%
Net Income
-2.12M▲ 0%
-4.54M▼ 114.1%
-19.27M▼ 324.5%
-32.34M▼ 67.8%
-82.17M▼ 154.1%
-106.93M▼ 30.1%
-165.76M▼ 55.0%
-179.05M▼ 8.0%
-59.6M▲ 66.7%
-68.21M▲ 0%
Net Margin %-------44201.87%-12974.86%-2630.14%-9070.61%
Net Income Growth %--114.1%-324.54%-67.8%-154.12%-30.14%-55.01%-8.02%66.71%3.92%
Net Income (Continuing)-2.12M-4.54M-19.27M-32.97M-82.17M-106.93M-165.76M-179.05M-59.6M-68.21M
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)
-2.06▲ 0%
-4.41▼ 114.1%
-21.16▼ 379.8%
-32.38▼ 53.0%
-60.63▼ 87.2%
-64.87▼ 7.0%
-94.67▼ 45.9%
-98.35▼ 3.9%
-23.51▲ 76.1%
-4.80▲ 0%
EPS Growth %--114.08%-379.82%-53.02%-87.25%-6.99%-45.94%-3.89%76.1%71.83%
EPS (Basic)-2.06-4.41-21.16-32.38-60.63-64.87-94.67-98.35-23.51-
Diluted Shares Outstanding1.03M1.03M910.72K1.02M1.36M1.65M1.75M1.82M2.54M14.2M
Basic Shares Outstanding1.03M1.03M910.72K1.02M1.36M1.65M1.75M1.82M2.54M14.2M
Dividend Payout Ratio----------

BTAI Balance Sheet

BioXcel Therapeutics, Inc. (BTAI) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Total Current Assets2K890K43.17M34.11M217.06M236.81M202.87M72.14M37.39M44.4M
Cash & Short-Term Investments0887K42.56M32.43M213.12M232.97M193.72M65.22M29.85M37.32M
Cash Only0887K42.56M32.43M213.12M232.97M193.72M65.22M29.85M37.32M
Short-Term Investments0000000000
Accounts Receivable00115K000248K71K131K0
Days Sales Outstanding------241.3918.7821.117.96
Inventory0000001.99M1.99M679K459K
Days Inventory Outstanding------36.23K576.76115.65200.77
Other Current Assets0000984K956K3.84M2.08M1.44M934K
Total Non-Current Assets5K465K378K2.29M2.87M2.63M2.98M1.56M944K389K
Property, Plant & Equipment5K4K327K2.23M2.78M2.54M2.06M1.47M857K389K
Fixed Asset Turnover------0.18x0.94x2.64x1.21x
Goodwill0000000000
Intangible Assets0000000000
Long-Term Investments0000000000
Other Non-Current Assets0461K51K51K87K86K925K87K87K174K
Total Assets
7K▲ 0%
1.35M▲ 19257.1%
43.55M▲ 3113.9%
36.39M▼ 16.4%
219.94M▲ 504.4%
239.44M▲ 8.9%
205.85M▼ 14.0%
73.7M▼ 64.2%
38.34M▼ 48.0%
44.79M▲ 0%
Asset Turnover------0.00x0.02x0.06x0.02x
Asset Growth %-19257.14%3113.95%-16.43%504.35%8.87%-14.03%-64.2%-47.98%-170.11%
Total Current Liabilities331K2.34M4.66M8.47M11.84M16.67M32.9M27.27M22.23M37.8M
Accounts Payable279K444K1.6M4.95M3.98M4.68M10.23M13.65M15.99M16.28M
Days Payables Outstanding-162.06K34.44K11.59K-5.75K186.66K3.96K2.72K5.66K
Short-Term Debt0371K000000016.98M
Deferred Revenue (Current)000-164K000000
Other Current Liabilities0002.04M2.07M3.97M6.46M163K142K4.41M
Current Ratio0.01x0.38x9.26x4.03x18.33x14.21x6.17x2.65x1.68x1.68x
Quick Ratio0.01x0.38x9.26x4.03x18.33x14.21x6.11x2.57x1.65x1.65x
Cash Conversion Cycle-------150.19K-3.36K-2.59K-5.44K
Total Non-Current Liabilities0001.03M1.4M1.1M96.18M102.94M109.21M95.91M
Long-Term Debt00000093.05M100.6M102.51M92.3M
Capital Lease Obligations0001.03M1.4M1.1M786K440K65K65K
Deferred Tax Liabilities0000000000
Other Non-Current Liabilities0000002.34M1.91M6.63M16.12M
Total Liabilities331K2.34M4.66M9.5M13.24M17.77M129.08M130.21M131.44M133.71M
Total Debt0371K01.03M1.64M1.4M94.16M101.38M102.95M109.29M
Net Debt0-516K-42.56M-31.4M-211.48M-231.57M-99.57M36.16M73.09M71.97M
Debt / Equity---0.04x0.01x0.01x1.23x---1.23x
Debt / EBITDA----------2.18x
Net Debt / EBITDA----------1.44x
Interest Coverage--2268.50x---3048.04x-2647.38x-19.44x-12.90x-4.44x-4.09x
Total Equity
-324K▲ 0%
-982K▼ 203.1%
38.89M▲ 4060.2%
26.89M▼ 30.8%
206.7M▲ 668.5%
221.67M▲ 7.2%
76.78M▼ 65.4%
-56.51M▼ 173.6%
-93.1M▼ 64.8%
-88.92M▲ 0%
Equity Growth %--203.09%4060.18%-30.84%668.53%7.24%-65.36%-173.6%-64.76%-138.11%
Book Value per Share-0.31-0.9542.7026.42152.52134.4843.85-31.04-36.73-6.26
Total Shareholders' Equity-324K-982K38.89M26.89M206.7M221.67M76.78M-56.51M-93.1M-88.92M
Common Stock010K16K18K24K28K28K30K49K73K
Retained Earnings0-4.45M-23.72M-56.69M-138.86M-245.79M-411.55M-590.6M-650.2M-707.55M
Treasury Stock0000000000
Accumulated OCI0-1K-18K0000000
Minority Interest0000000000

BTAI Cash Flow Statement

BioXcel Therapeutics, Inc. (BTAI) cash flow — operating, investing & free cash flow history

Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Cash from Operations-1.29M-2.2M-13.51M-27.28M-66.35M-82.15M-135.34M-155.01M-72.03M-72.03M
Operating CF Margin %-------36090.93%-11232.32%-3178.6%-
Operating CF Growth %--69.71%-515.16%-101.94%-143.22%-23.82%-64.74%-14.53%53.53%107.6%
Net Income-2.12M-4.54M-19.27M-32.97M-82.17M-106.93M-165.76M-179.05M-59.6M-68.21M
Depreciation & Amortization01K17K156K188K297K327K318K309K303K
Stock-Based Compensation671K1.61M3.08M3.14M14.61M19.45M17.34M18.61M6.16M1.74M
Deferred Taxes000-3.45M-14.99M00000
Other Non-Cash Items671K1.61M3.12M3.45M14.99M46K2.35M3.1M-12.86M12.29M
Working Capital Changes155K736K2.66M2.39M1.02M4.98M10.4M2.02M-6.03M-4.33M
Change in Receivables000000-248K177K-60K3K
Change in Inventory000000-1.99M-6K1.31M1.07M
Change in Payables156K737K3.2M3.58M3.03M4.85M13.03M-3.22M-4.33M-4.37M
Cash from Investing-4K0-340K-870K-316K-445K-139K-20K00
Capital Expenditures-4K0-340K-870K-316K-445K-139K-20K00
CapEx % of Revenue------37.07%1.45%--
Acquisitions0000000000
Investments----------
Other Investing00-340K0000000
Cash from Financing1.3M3.08M55.53M18.01M247.36M102.45M96.24M26.52M36.66M55.15M
Debt Issued (Net)0438K-371K00098.6M0-2.5M-2.5M
Equity Issued (Net)01000K1000K1000K1000K1000K01000K1000K3.14M
Dividends Paid0000000000
Share Repurchases0000-9.02M00000
Other Financing1.3M584K-615K201K598K1.45M-2.36M-510K-528K-869K
Net Change in Cash
0▲ 0%
887K▲ 0%
41.68M▲ 4598.8%
-10.14M▼ 124.3%
180.69M▲ 1882.2%
19.85M▼ 89.0%
-39.24M▼ 297.7%
-128.5M▼ 227.5%
-35.37M▲ 72.5%
-3.07M▲ 0%
Free Cash Flow
-1.3M▲ 0%
-2.2M▼ 69.2%
-13.85M▼ 530.6%
-28.15M▼ 103.3%
-66.67M▼ 136.8%
-82.6M▼ 23.9%
-135.48M▼ 64.0%
-155.03M▼ 14.4%
-72.03M▲ 53.5%
-58.21M▲ 0%
FCF Margin %-------36128%-11233.77%-3178.6%-7741.22%
FCF Growth %--69.18%-530.65%-103.26%-136.82%-23.9%-64.02%-14.43%53.54%30.76%
FCF per Share-1.26-2.13-15.21-27.65-49.19-50.11-77.38-85.15-28.41-28.41
FCF Conversion (FCF/Net Income)0.61x0.48x0.70x0.84x0.81x0.77x0.82x0.87x1.21x0.85x
Interest Paid0000002.7M7.55M7.97M0
Taxes Paid0000000000

BTAI Key Ratios

BioXcel Therapeutics, Inc. (BTAI) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric20172018201920202021202220232024TTM
Return on Equity (ROE)--101.67%-98.31%-70.35%-49.93%-111.08%-1766.94%-71.83%
Return on Invested Capital (ROIC)--------220.83%
Gross Margin-----94.67%8.7%5.43%-38.16%
Net Margin------44201.87%-12974.86%-2630.14%-9070.61%
Debt / Equity--0.04x0.01x0.01x1.23x---1.23x
Interest Coverage-2268.50x---3048.04x-2647.38x-19.44x-12.90x-4.44x-4.09x
FCF Conversion0.48x0.70x0.84x0.81x0.77x0.82x0.87x1.21x0.85x
Revenue Growth------268%64.2%-66.96%

BTAI Frequently Asked Questions

BioXcel Therapeutics, Inc. (BTAI) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

BioXcel Therapeutics, Inc. (BTAI) reported $0.8M in revenue for fiscal year 2024.

BioXcel Therapeutics, Inc. (BTAI) grew revenue by 64.2% over the past year. This is strong growth.

BioXcel Therapeutics, Inc. (BTAI) reported a net loss of $68.2M for fiscal year 2024.

Dividend & Returns

BioXcel Therapeutics, Inc. (BTAI) had negative free cash flow of $58.2M in fiscal year 2024, likely due to heavy capital investments.

Explore More BTAI

BioXcel Therapeutics, Inc. (BTAI) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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