BioXcel Therapeutics Inc BTAI:NASDAQ

Last Price$13.20NASDAQ Previous Close - Last Trade as of 4:00PM ET 6/30/22

Today's Change-0.18(1.35%)
Bid (Size)$12.75 (10)
Ask (Size)$13.10 (1)
Day Low / High$12.67 - 13.64
Volume443.2 K

BioXcel Therapeutics Launches Oncology Unit, Signs $260 Million in Financing Deals for Igalmi; Shares Rise Pre-Bell

7:40AM ET 4/19/2022 MT Newswires
BioXcel Therapeutics (BTAI) said Tuesday that it has created a wholly owned subsidiary called OnkosXcel Therapeutics, Inc. to develop transformative medicines in oncology.

The biopharmaceutical company said OnkosXcel will focus on the expansion and optimization of the oncology franchise. The new unit plans to further the development of BXCL701, which is being evaluated in combination with Merck's (MRK) Keytruda in a phase 2 trial in metastatic castration-resistant prostate cancer patients.

BioXcel also said Tuesday that it has signed financing deals with funds managed by Oaktree Capital Management and Qatar Investment Authority that will provide up to $260 million to support the commercial activities and clinical development of Igalmi sublingual film. Igalmi is intended to treat agitation associated with schizophrenia or bipolar disorder in adults under supervision by a healthcare provider.

Shares of BioXcel are up nearly 11% in premarket trading.

Price: 16.34, Change: +1.57, Percent Change: +10.63