BioXcel falls after filing for Chapter 11 bankruptcy

BioXcel Therapeutics

28/08/2026 10:20

** Shares of biotech firm BioXcel BTAI.O fall 61% to 27 cents premarket
** Co late on Thursday filed for Chapter 11 bankruptcy protection in the U.S., a regulatory filing showed
** BioXcel listed estimated liabilities in the range of $100 million to $500 million and assets of $10 million to $50 million in its petition filed with U.S. Bankruptcy Court for the District of Delaware
** The bankruptcy filing comes after the company said in May that it was exploring strategic options, including a sale or merger or licensing its assets 
** BioXcel's experimental drug candidate BXCL501 or dexmedetomidine is being developed as an acute treatment for agitation associated with dementia
** As of last close, BTAI down 55% YTD 

 (Reporting by Padmanabhan Ananthan)
 ((Padmanabhan.Ananthan@thomsonreuters.com))