📊 BTAI Key Takeaways
Is BioXcel Therapeutics, Inc. (BTAI) a Good Investment?
BioXcel Therapeutics faces existential financial distress with negative $105.5M stockholders' equity, indicating technical insolvency. Revenue has collapsed 71.7% to just $206K while the company burns $11.8M in annual operating cash with only $17.2M cash remaining. The company cannot service its $100.3M debt burden or meet near-term obligations with a 0.62x current ratio.
BioXcel Therapeutics shows extremely weak fundamentals: revenue remains negligible relative to its cost base, operating losses are massive, and free cash flow is deeply negative. The balance sheet is highly stressed with negative equity and substantial long-term debt, leaving the company dependent on external financing unless commercialization or expense structure improves materially.
BioXcel Therapeutics, Inc. Key Strengths (BTAI)
- Retained $17.2M in cash providing minimal near-term runway
- No capital expenditure preserving liquidity
- Diluted EPS improved 75.6% YoY (though still deeply negative)
- Revenue grew 64.2% year over year, indicating some commercial or collaboration traction from a very small base
- Cash and equivalents of $36.18M provide limited near-term operating flexibility
- Current and quick ratios slightly above 1.0 suggest short-term liquidity is not yet fully impaired
BTAI Stock Risks: BioXcel Therapeutics, Inc. Investment Risks
- Negative stockholders' equity of -$105.5M represents technical insolvency
- Revenue collapsed 71.7% YoY to critically low $206K level
- Liquidity crisis with 0.62x current ratio unable to cover short-term obligations
- Operating cash burn of $11.8M annually against only $17.2M cash (~1.5 years runway)
- Debt burden of $100.3M unsustainable against $34M total assets
- Negative interest coverage ratio (-2.8x) indicates inability to service debt
- Profitability is severely negative, with operating margin of -10409.1% and net margin of -14858.0%, showing an unsustainable cost structure
- Negative stockholders equity of -$88.92M and $109.12M of long-term debt indicate a highly impaired capital structure
- Operating cash flow and free cash flow of -$43.41M imply ongoing cash burn and likely future financing pressure
Key Metrics to Watch
- Cash balance depletion rate and months of runway remaining
- Revenue trends and stabilization signals
- Restructuring announcements or capital raise activity
- Debt covenant compliance and refinancing needs
- Quarterly operating cash burn relative to cash balance
- Revenue scale-up versus operating expense reduction
BioXcel Therapeutics, Inc. (BTAI) Financial Metrics & Key Ratios
💡 AI Analyst Insight
The current ratio below 1.0x warrants monitoring of short-term liquidity.
BTAI Profit Margin, ROE & Profitability Analysis
BTAI vs Healthcare Sector: How BioXcel Therapeutics, Inc. Compares
How BioXcel Therapeutics, Inc. compares to Healthcare sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is BioXcel Therapeutics, Inc. Stock Overvalued? BTAI Valuation Analysis 2026
Based on fundamental analysis, BioXcel Therapeutics, Inc. has mixed fundamental signals relative to the Healthcare sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
BioXcel Therapeutics, Inc. Balance Sheet: BTAI Debt, Cash & Liquidity
BTAI Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: BioXcel Therapeutics, Inc.'s revenue has grown significantly by 504% over the 5-year period, indicating strong business expansion. The most recent EPS of $-23.51 indicates the company is currently unprofitable.
BTAI Revenue Growth, EPS Growth & YoY Performance
BTAI Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q1 2026 | $168.0K | -$7.3M | $-0.54 |
| Q3 2025 | $98.0K | -$7.3M | $-2.18 |
| Q2 2025 | $120.0K | -$7.3M | $-2.45 |
| Q1 2025 | $168.0K | -$7.3M | $-1.50 |
| Q3 2024 | $214.0K | -$8.3M | $-0.32 |
| Q2 2024 | $457.0K | -$8.3M | $-0.21 |
| Q1 2024 | $206.0K | -$26.8M | $-0.87 |
| Q3 2023 | $137.0K | -$31.5M | $-1.49 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
BioXcel Therapeutics, Inc. Dividends, Buybacks & Capital Allocation
BTAI SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for BioXcel Therapeutics, Inc. (CIK: 0001720893)
📋 Recent SEC Filings
❓ Frequently Asked Questions about BTAI
What is the AI rating for BTAI?
BioXcel Therapeutics, Inc. (BTAI) has a Combined AI Grade of D from Claude (D) and ChatGPT (D) with 94% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are BTAI's key strengths?
Claude: Retained $17.2M in cash providing minimal near-term runway. No capital expenditure preserving liquidity. ChatGPT: Revenue grew 64.2% year over year, indicating some commercial or collaboration traction from a very small base. Cash and equivalents of $36.18M provide limited near-term operating flexibility.
What are the risks of investing in BTAI?
Claude: Negative stockholders' equity of -$105.5M represents technical insolvency. Revenue collapsed 71.7% YoY to critically low $206K level. ChatGPT: Profitability is severely negative, with operating margin of -10409.1% and net margin of -14858.0%, showing an unsustainable cost structure. Negative stockholders equity of -$88.92M and $109.12M of long-term debt indicate a highly impaired capital structure.
What is BTAI's revenue and growth?
BioXcel Therapeutics, Inc. reported revenue of $206.0K.
Does BTAI pay dividends?
BioXcel Therapeutics, Inc. does not currently pay dividends.
Where can I find BTAI SEC filings?
Official SEC filings for BioXcel Therapeutics, Inc. (CIK: 0001720893) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is BTAI's EPS?
BioXcel Therapeutics, Inc. has a diluted EPS of $-0.54.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined grade reflects both perspectives for balanced insights.
What is BTAI's fundamental grade?
Based on our AI fundamental analysis in June 2026, BioXcel Therapeutics, Inc. has a D grade with 94% confidence. Review the strengths and risks sections above for full context. This is not investment advice.
Is BTAI stock overvalued or undervalued?
Valuation metrics for BTAI: ROE of N/A (sector avg: 15%), net margin of -6,160.7% (sector avg: 12%). Compare these metrics with sector averages to assess valuation.
What is BTAI's AI grade for 2026?
Our dual AI analysis gives BioXcel Therapeutics, Inc. a combined D grade for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is BTAI's free cash flow?
BioXcel Therapeutics, Inc.'s operating cash flow is $-11.8M, with capital expenditures of $0.0. FCF margin is -5,732.5%.
How does BTAI compare to other Healthcare stocks?
Vs Healthcare sector averages: Net margin -6,160.7% (avg: 12%), ROE N/A (avg: 15%), current ratio 0.62 (avg: 2).