BioXcel Therapeutics (NASDAQ: BTAI) announces initiation of phase 2 study

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BioXcel Therapeutics Inc. (NASDAQ: BTAI) announced the initiation of a Phase 2 study by researchers at Yale University. The research is designed to measure biomarkers associated with agitation in patients with schizophrenia.

The company will expand its use of BXCL501 to new chronic disease indications.

Dr. Frank Yocca, CSO: “Building on the significant results from our Phase 1b trial in patients with agitation associated with schizophrenia, this study is designed to further confirm the calming capabilities of dexmedetomidine, the active ingredient in BXCL501, using an objective scale to measure signs of hyperarousal”

BioXcel Performance

BioxCel (BTAI) YTD performance is (+153.05%), its 3 month performance is (+747.94%), and its 1 month performance is (+141.63%). The stock has a 14-day relative strength of 85.23%. Relative Strength Index (RSI) of 85.23, indicating the stock is in overbought territory. Relative strength is a momentum indicator that measures the magnitude of price changes to evaluate overbought, or oversold conditions.

Fundamentals

The company has a market cap of $666.75 million. They have $18.04 million shares outstanding, with a float of $8.25 million. BioXcel has a 60-month beta of 3.73 with a price/book ratio of 19.37.

BioXcel has 4 buy ratings in the last 12 months. The stock has media price target is $26.75. BioXcel (BTAI) has a high price target of $30.00, and a low price target of $24.00.

The company has an institutional ownership of 28.66%.

About BioxCel Therapeutics

BioXcel Therapeutics, Inc BioXcel Therapeutics, Inc. is a clinical stage biopharmaceutical company that uses artificial intelligence to identify improved therapies in neuroscience and immuno-oncology. BioxCel’s advanced clinical development programs are BXCL501, a sublingual thin film formulation designed for acute treatment of agitation resulting from neuropsychiatric disorders. BXCL701, is an orally administered systemic innate immunity activator designed for treatment of a rare form of prostate cancer, pancreatic cancer and advanced solid cancers in combination with other immuno-oncology agents.

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