BioXcel Therapeutics (BTAI) Ends The Year On High Note, Stock Up Over 300%

(RTTNews) - Shares of BioXcel Therapeutics Inc. (BTAI) closed Tuesday, the last trading day of 2019, at $14.61, up a whopping 338% in the year.

BioXcel Therapeutics is a clinical-stage biopharmaceutical company focused on drug development that utilizes artificial intelligence to identify improved therapies in neuroscience and immuno-oncology.

The Company has two product candidates in clinical development - BXCL501, an investigational, sublingual thin film formulation for the acute treatment of agitation resulting from neuropsychiatric disorders, and BXCL701, an investigational orally administered systemic innate immunity activator for the treatment of a rare form of prostate cancer and for treatment of pancreatic cancer in combination with other immuno-oncology agents.

A phase III program of BXCL501, dubbed SERENITY, consisting of two phase III studies for the acute treatment of agitation in patients with schizophrenia and bipolar disorder, was initiated as recently as December 30, 2019. Topline data from both the phase III trials, known as SERENITY I and SERENITY II, are expected in mid-2020.

Next up in the pipeline is BXCL701, which in combination with Keytruda, is under a phase Ib/II trial in treatment-emergent Neuroendocrine Prostate Cancer (tNEPC). Data read-out from this trial is expected in the first half of 2020.

A triple combination study of BXCL701, Nektar's bempegaldesleukin and Pfizer/Merck KGaA's Bavencio in pancreatic cancer is also being planned.

Balance Sheet:

The Company reported a net loss of $9.0 million or $0.57 per share for the third quarter ended September 30, 2019, compared to a net loss of $4.9 million or $0.31 per share for the same period in 2018.

At the end of the third quarter of 2019, cash and cash equivalents totaled approximately $40.3 million.

BTAI has traded in a range of $3.33 and $14.80 in the last 1 year. The stock closed Tuesday's trading at $14.61, up 40.35%.