# BioXcel Therapeutics, Inc.: overview

BTAIQ · OTC · CIK 1720893 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/btaiq.md) · [Financials](/companies/btaiq/financials.md) · [Filings](/companies/btaiq/filings.md) · [Insiders](/companies/btaiq/insiders.md)

Latest reported revenue: [$182.0k](/filings/0001104659-26-095965.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 13, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001104659-26-095965).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [0.2](/filings/0001104659-25-109880.md) | [0.4 d](/filings/0001104659-26-036214.md) | [0.2](/filings/0001104659-26-061769.md) | [0.1](/filings/0001104659-26-095965.md) | [0.1](/filings/0001104659-25-109880.md) | [0.3 d](/filings/0001104659-26-036214.md) | [0.2](/filings/0001104659-26-061769.md) | [0.2](/filings/0001104659-26-095965.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(7146.3%)](/filings/0001104659-25-109880.md) | [(2866.9%) d](/filings/0001104659-26-036214.md) | [(6011.3%)](/filings/0001104659-26-061769.md) | [(13210.0%)](/filings/0001104659-26-095965.md) | [(14518.4%)](/filings/0001104659-25-109880.md) | [(4016.4%) d](/filings/0001104659-26-036214.md) | [(4962.6%)](/filings/0001104659-26-061769.md) | [(5600.5%)](/filings/0001104659-26-095965.md) |
| Net margin | % | [(6378.5%)](/filings/0001104659-25-109880.md) | [(2966.9%) d](/filings/0001104659-26-036214.md) | [(4317.9%)](/filings/0001104659-26-095965.md) | [(15989.2%)](/filings/0001104659-26-095965.md) | [(31541.8%)](/filings/0001104659-25-109880.md) | [(4900.4%) d](/filings/0001104659-26-036214.md) | [(6160.7%)](/filings/0001104659-26-095965.md) | [(8084.1%)](/filings/0001104659-26-095965.md) |
| Diluted EPS | $ per share | [(5.15)](/filings/0001104659-25-109880.md) | not reported | [(1.50)](/filings/0001104659-26-061769.md) | [(2.45)](/filings/0001104659-26-095965.md) | [(2.18)](/filings/0001104659-25-109880.md) | not reported | [(0.54)](/filings/0001104659-26-061769.md) | [(0.49)](/filings/0001104659-26-095965.md) |
| Free cash flow | $m | [(16.3) d](/filings/0001104659-25-109880.md) | [(14.8) d](/filings/0001104659-26-036214.md) | [(12.0)](/filings/0001104659-26-061769.md) | [(12.6) d](/filings/0001104659-26-095965.md) | [(18.8) d](/filings/0001104659-25-109880.md) | [(14.2) d](/filings/0001104659-26-036214.md) | [(11.8)](/filings/0001104659-26-061769.md) | [(6.1) d](/filings/0001104659-26-095965.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | not reported | [0.4](/filings/0001558370-24-003784.md) | [1.4](/filings/0001558370-25-003985.md) | [2.3](/filings/0001104659-26-036214.md) | [0.6](/filings/0001104659-26-036214.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | [(42572.0%)](/filings/0001558370-24-003784.md) | [(12448.0%)](/filings/0001558370-25-003985.md) | [(2967.6%)](/filings/0001104659-26-036214.md) | [(7860.0%)](/filings/0001104659-26-036214.md) |
| Net margin | % | not reported | [(44201.9%)](/filings/0001558370-24-003784.md) | [(12974.9%)](/filings/0001558370-25-003985.md) | [(2630.1%)](/filings/0001104659-26-036214.md) | [(10887.4%)](/filings/0001104659-26-036214.md) |
| Diluted EPS | $ per share | [(4.05)](/filings/0001558370-23-003940.md) | [(5.92)](/filings/0001558370-24-003784.md) | [(98.33)](/filings/0001558370-25-003985.md) | [(23.51)](/filings/0001104659-26-036214.md) | [(5.73)](/filings/0001104659-26-036214.md) |
| Free cash flow | $m | [(82.6)](/filings/0001558370-23-003940.md) | [(135)](/filings/0001558370-24-003784.md) | [(155)](/filings/0001558370-25-003985.md) | [(72.0)](/filings/0001104659-26-036214.md) | [(57.6)](/filings/0001104659-26-036214.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/btaiq/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [MILLENNIUM MANAGEMENT LLC](/funds/1273087.md) | 2026-06-30 | $3.0m | 2,114,710 |  | Added +177,950 |
| [OAKTREE CAPITAL MANAGEMENT LP](/funds/949509.md) | 2026-06-30 | $1.9m | 1,380,248 |  | Added +1,139,060 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $1.3m | 919,545 |  | Added +712,206 |
| [Oaktree Fund Advisors, LLC](/funds/1822973.md) | 2026-06-30 | $346.3k | 245,585 |  | Added +202,672 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $341.9k | 242,251 |  | Added +12,083 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $253.0k | 179,433 |  | Added +95,151 |
| [UBS Group AG](/funds/1610520.md) | 2026-06-30 | $222.9k | 158,065 |  | Added +105,277 |
| [CITADEL ADVISORS LLC](/funds/1423053.md) | 2026-06-30 | $210.4k | 149,220 |  | New +149,220 |
| [VANGUARD FIDUCIARY TRUST CO](/funds/933478.md) | 2026-06-30 | $193.1k | 136,937 |  | Added +52,016 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $129.9k | 92,118 |  | Unchanged |

## Recent filings

[All 670 filings](/companies/btaiq/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-30 | 17:15 ET | [8-K](/filings/0001104659-26-120737.md) | 2.01 Completion of an acquisition or disposition; 5.02 Departure or appointment of officers or directors; 5.03 Amendment to articles or bylaws; 9.01 Financial statements and exhibits | 0001104659-26-120737 |
| 2026-09-01 | 07:01 ET | [8-K](/filings/0001104659-26-104106.md) | 2.03 New direct financial obligation; 3.01 Delisting notice | 0001104659-26-104106 |
| 2026-08-28 | 06:00 ET | [8-K](/filings/0001104659-26-102570.md) | 1.01 Entry into a material agreement; 1.03 Bankruptcy or receivership | 0001104659-26-102570 |
| 2026-08-25 | 07:15 ET | [8-K](/filings/0001104659-26-100532.md) | 1.01 Entry into a material agreement; 9.01 Financial statements and exhibits | 0001104659-26-100532 |
| 2026-08-24 | 07:00 ET | [8-K](/filings/0001104659-26-099900.md) | 1.01 Entry into a material agreement; 9.01 Financial statements and exhibits | 0001104659-26-099900 |
| 2026-08-13 | 16:31 ET | [10-Q](/filings/0001104659-26-095965.md) | Quarterly report, period 2026-06-30 | 0001104659-26-095965 |
| 2026-08-11 | 07:00 ET | [8-K](/filings/0001104659-26-093710.md) | 1.01 Entry into a material agreement; 9.01 Financial statements and exhibits | 0001104659-26-093710 |
| 2026-08-03 | 07:00 ET | [8-K](/filings/0001104659-26-089436.md) | 1.01 Entry into a material agreement; 9.01 Financial statements and exhibits | 0001104659-26-089436 |
| 2026-07-06 | 06:00 ET | [8-K](/filings/0001104659-26-080501.md) | 1.01 Entry into a material agreement; 9.01 Financial statements and exhibits | 0001104659-26-080501 |
| 2026-05-15 | 07:07 ET | [8-K](/filings/0001104659-26-061773.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001104659-26-061773 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001104659-26-036214.md), filed Mar 27, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/53ae2d79-658c-4d7e-b450-2bbb1dec0142)

## About the filer

- CIK: 1720893
- Tickers: BTAIQ
- Exchange: OTC
- SIC code: 2834 Pharmaceutical Preparations
- State of incorporation: DE
- Filer category: Non-accelerated filer<br>Smaller reporting company

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 30, 2026, 17:24 ET. No prices; not investment advice.
