Additionally, Yocca acquired 1,083 shares of common stock on December 14 and 15 through the vesting of restricted stock units (RSUs), though these transactions did not involve any cash exchange. Following these transactions, Yocca holds 28,931 shares of BioXcel Therapeutics directly. InvestingPro data reveals the company operates with significant debt and is rapidly burning through cash. Subscribers can access 13 additional ProTips and a comprehensive Pro Research Report covering BioXcel's financial health, valuation metrics, and growth prospects. InvestingPro data reveals the company operates with significant debt and is rapidly burning through cash. Subscribers can access 13 additional ProTips and a comprehensive Pro Research Report covering BioXcel's financial health, valuation metrics, and growth prospects.
Additionally, Yocca acquired 1,083 shares of common stock on December 14 and 15 through the vesting of restricted stock units (RSUs), though these transactions did not involve any cash exchange. Following these transactions, Yocca holds 28,931 shares of BioXcel Therapeutics directly.
In other recent news, BioXcel Therapeutics has amended its credit agreement and issued new warrants to lenders. The company has also reported its third-quarter financial results, showing a decrease in net revenue to $214,000 compared to the same quarter in the previous year. However, the nine-month revenue showed an increase, reaching $1.9 million, and the net loss was significantly reduced to $13.7 million from $50.5 million in Q3 2023. Mizuho (NYSE:MFG) Securities maintained its Neutral rating on BioXcel, citing unexpectedly low Igalmi sales and higher operating expenses. BioXcel has launched the Phase 3 SERENITY At-Home study for Igalmi and initiated two pivotal Phase 3 trials for drug candidate BXCL501. These recent changes to the financial covenants, capital raising requirements, and the issuance of new warrants are significant developments for BioXcel. The company is actively exploring strategic financing options and is in discussions with potential strategic partners to address liquidity challenges.
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