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BTAI · BioXcel Therapeutics, Inc.

Company guidance, FDA catalysts, dilution risk and cash runway, built from SEC, FDA and ClinicalTrials.gov filings and updated every day.

$12.8M Cash on Hand

4.3mo Cash Runway

0% Short Interest

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💊 Upcoming FDA Decisions

PDUFA Date	Drug	Indication	Type	PoA
2026-11-14	—	agitation associated with Alzheimer’s dementia Evaluating st	sNDA	76%

PoA = estimated probability of approval: base rates calibrated against BioRadar's verified FDA outcomes, adjusted for application type, modality, therapy area and cash runway. Not investment advice. See the full PDUFA calendar →

🧪 Trial & FDA Catalysts

Jul 2027 · Phase 1 · Recruiting · Determining Efficacy and Safety of BXCL501 in Agitation Associated With Pediatric Schizoph
Registry primary completion date, not a results date

📊 Drug Pipeline

Drug	Indication	Most advanced trial	Status
Dexmedetomidine Hydrochloride FDA approved Apr 2022 · Igalmi	Delirium	Phase 2 · NCT04382170	Withdrawn
BXCL501	Opioid Use Disorder	Phase 1/2 · NCT05712707	Active not recruiting
Sublingual film containing Dexmedetomidi	Agitation,Psychomotor	Phase 1/2 · NCT04251910	Completed
Talabostat (BXCL701)	Prostate Cancer	Phase 1/2 · NCT03910660	Completed
Dexmedetomidine (DEX) for sublingual (SL	Alcohol Use Disorder (AUD)	Phase 1 · NCT06335407	Recruiting
Dexmedetomidine (DEX) for sublingual (SL	Alcohol Use Disorder (AUD)	Phase 1 · NCT06335407	Recruiting
Talabostat Mesylate	Cancer of Pancreas	Early Phase 1 · NCT04123574	Withdrawn

Also used in these trials (approved or third-party drugs, not BTAI's own candidates): Dexmedetomidine, Lorazepam, Pembrolizumab.

Source: ClinicalTrials.gov trials sponsored by the company, one row per candidate at its most advanced registered trial. FDA approvals: Drugs@FDA. Wrong or missing drug? Report it

💰 Cash Runway & Dilution Risk

BTAI holds $12.8M in cash and short-term investments (as of Jun 30, 2026) and burns about $9M/quarter from operations, an estimated runway of 4.3 months at that rate (BioRadar estimate, not company guidance).

Dilution pressure: 100 · High

Cash runway 4 months +40
ATM program on file since Aug 2025 +15
Shelf registration (S-3, Nov 2023) +10
Going-concern doubt in the latest 10-Q +15We have identified conditions and events that raise substantial doubt about our ability to continue as a going concern. 10-Q, Aug 2026
Share count +115% in a year +20
FDA decision in 42 days +15

Recent financing filings on SEC EDGAR:

Apr 17, 2026 · Private placement (8-K Item 3.02) · 8-K
Mar 11, 2026 · Registered direct / best-efforts offering · 424B5
Aug 18, 2025 · ATM program, up to $12M · 424B5
Aug 6, 2025 · ATM program, up to $8M · 424B5
Apr 3, 2025 · Registered direct / best-efforts offering · 424B5
Mar 4, 2025 · Registered direct / best-efforts offering · 424B5

Source: SEC EDGAR (XBRL cash flow and financing filings). Dilution Watch: every company ranked → · Get an alert when BTAI files for a raise →

👥 Who Owns BTAI

Insiders Form 4 data not loaded yet Institutions 17.9% Public and other holders 82.1%

Holder	Type	Shares	% of shares	As of
Millennium Management Llc	Institution (13F)	2,114,710	6.76%	2026-06-30
Oaktree Capital Management LP	Institution (13F)	1,380,248	4.41%	2026-06-30
Vanguard Capital Management LLC	Institution (13F)	919,545	2.94%	2026-06-30
Oaktree Fund Advisors, LLC	Institution (13F)	245,585	0.78%	2026-06-30
Geode Capital Management, LLC	Institution (13F)	242,251	0.77%	2026-06-30
Blackrock Inc.	Institution (13F)	179,433	0.57%	2026-06-30
UBS Group AG	Institution (13F)	158,065	0.50%	2026-06-30
Citadel Advisors Llc	Institution (13F)	149,220	0.48%	2026-06-30
Vanguard Fiduciary Trust Co	Institution (13F)	136,937	0.44%	2026-06-30
State Street Corporation	Institution (13F)	92,118	0.29%	2026-06-30

Share count 31,305,499 (latest 10-Q/10-K). Insiders: each officer's, director's and 10% owner's latest Form 3, 4 or 5, direct and indirect shares; options are not counted. 5%+ holders: latest Schedule 13D or 13G of each holder above 5%. Institutions: the largest 13F holders (13F quarter ending 2026-06-30). Sources have different dates, so the split is approximate. Source: SEC EDGAR.

📈 Recent Insider Activity (Form 4)

Trade date	Insider	Transaction	Shares	Price	Owned after
2026-08-12 filed 2026-08-14	Atkins Susan E.	Option award (A)	17,000	–	–
2026-06-15 filed 2026-06-17	Steinhart Richard I	Option exercise (M)	35	–	–
2026-06-15 filed 2026-06-17	Steinhart Richard I	Option exercise (M)	35	–	26,335
2026-05-20 filed 2026-05-22	Yocca Frank	Sale (S)	6,845	$1.09	26,175
2026-05-20 filed 2026-05-22	Rodriguez Javier	Sale (S)	6,560	$1.08	26,803

Only open-market purchases (P) and sales (S) are trading decisions. Awards (A), option exercises (M) and tax withholding (F) are compensation mechanics. Source: SEC Form 4.

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Data: SEC EDGAR, FDA, ClinicalTrials.gov, Yahoo Finance • Informational purposes only, not investment advice. • All tracked stocks A–Z