Bioxcel Therap | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 206 K
I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2026 Q1, the actual value is USD 206 K, missing the estimate of USD 381.49 K.
EPS: As of FY2026 Q1, the actual value is USD -0.54.
EBIT: As of FY2026 Q1, the actual value is USD -6.236 M.
Product Revenues
BioXcel Therapeutics, Inc. reported product revenues of $206 thousand for the first quarter of 2026, an increase from $168 thousand for the same period in 2025.
Cost of Goods Sold
Cost of Goods Sold for the first quarter of 2026 was $283 thousand, compared to $14 thousand for the first quarter of 2025, primarily due to higher charges for reserves for excess or obsolete inventory.
Research and Development (R&D) Expenses
Research and Development expenses decreased to $2,955 thousand for the first quarter of 2026 from $4,554 thousand in the same period of 2025, mainly due to the completion of the SERENITY At-Home pivotal Phase 3 safety trial in 2025.
Selling, General and Administrative (SG&A) Expenses
Selling, General and Administrative expenses increased to $7,191 thousand for the first quarter of 2026, up from $5,699 thousand in the first quarter of 2025, primarily driven by an increase in professional fees.
Total Operating Expenses
Total operating expenses were $10,429 thousand for the first quarter of 2026, compared to $10,267 thousand for the same period in 2025.
Loss from Operations
BioXcel Therapeutics, Inc. reported an operating loss of - $10,223 thousand for the first quarter of 2026, slightly higher than the operating loss of - $10,099 thousand for the same period in 2025.
Interest Expense, net
Net interest expense was $4,198 thousand for the first quarter of 2026, compared to $3,993 thousand for the same period in 2025.
Interest Income
Interest income was - $211 thousand for the first quarter of 2026, compared to - $279 thousand for the same period in 2025.
Other (income) expense, net
Other (income) expense, net was - $1,519 thousand for the first quarter of 2026, compared to - $6,559 thousand for the same period in 2025.
Net Loss
BioXcel Therapeutics, Inc. reported a net loss of - $12,691 thousand for the first quarter of 2026, an increase from a net loss of - $7,254 thousand for the same period in 2025.
Net Loss Per Share
Net loss per share - basic and diluted was - $0.54 for the first quarter of 2026, compared to - $1.50 for the same period in 2025.
Weighted Average Shares Outstanding
Weighted average shares outstanding - basic and diluted were 23,571 thousand for the first quarter of 2026, compared to 4,834 thousand for the same period in 2025.
Cash and Cash Equivalents and Restricted Cash
Cash and cash equivalents and restricted cash totaled $17,180 thousand as of March 31, 2026.
Total Assets
Total assets were $34,025 thousand as of March 31, 2026, down from $44,916 thousand as of December 31, 2025.
Total Liabilities
Total liabilities were $139,568 thousand as of March 31, 2026, a slight decrease from $140,379 thousand as of December 31, 2025.
Total Stockholders’ Equity (Deficit)
Total stockholders’ equity (deficit) was - $105,543 thousand as of March 31, 2026, compared to - $95,463 thousand as of December 31, 2025.
Outlook / Guidance
BioXcel Therapeutics, Inc. announced that the FDA accepted its supplemental New Drug Application (sNDA) for IGALMI® for at-home use, with a PDUFA target action date of November 14, 2026. The company is exploring strategic options for the IGALMI franchise and preparing for its commercial launch in the at-home setting. Additionally, BioXcel Therapeutics, Inc. continues to focus on the potential of BXCL501 in Alzheimer’s dementia.