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BTAI — Nasdaq Pharmaceuticals

BioXcel Therapeutics, Inc.

$0,87
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Mcap
20,5M USD
P/E
—
EV / Rev
160,2x
Div yield
—
Op margin
-7 860,0 %
ROE
66,2 %
Net margin
-10 887,4 %
Debt / equity
-0,95
Beta
—
52w range
—
Volume
—
Day range
—
Prev close
$0,87
Open
$0,91
Next earnings
2026-10-28
Ex-dividend
—
TR 1Y
—
About

BioXcel Therapeutics, Inc. is classified under Healthcare / Pharmaceuticals and appears not currently profitable on the latest normalized snapshot.

Business. BioXcel Therapeutics, Inc. (BTAI) is a pharmaceutical company operating within the Healthcare sector. The firm is headquartered in the United States and is primarily listed on the Nasdaq stock exchange. Specific details regarding operating segments and geographic revenue mix are not available.

Classification99 %
SectorHealth Care
Industry groupPharmaceuticals
Generated · rules-based
Sell-side consensus
BUY5 analysts
4 buy0 hold1 sell
Avg 12m price target12,80

Analyst recommendations

5 analysts · consensus Buy
Buy4
Hold0
Sell1
12-month price target
12,80
Consensus of sell-side coverage.
Upcoming events
  • EarningsQ3 2026 earnings (expected)2026-10-28 · estimated
See all catalysts →

At a glance

Score
—
not yet scored
Valuation
—
valuation pending
Analysts→
Buy
5 analysts · indicative
Ownership→
JONES FINANCIAL COMPANIES LLLP
largest disclosed fund holder
Profitability→
66,2 %
return on equity
Quality
—
not yet scored

What drives this business

The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.

— missing data

News & coverage

0
  • No recent newsroom coverage mentioning BTAI.

    • Sector rotation

    Sector1D1Mvs mkt
    Materials+2,3 %+6,6 %+1,7 %
    Communication Services+2,2 %−5,5 %+1,6 %
    Energy+0,6 %+3,3 %+0,0 %
    Health Care · THIS SECTOR+0,6 %−0,8 %+0,0 %
    Information Technology+0,6 %+6,7 %+0,0 %
    Consumer Discretionary+0,4 %+7,6 %−0,2 %
    Financials−0,3 %−2,8 %−0,9 %
    Consumer Staples−0,4 %+2,5 %−1,0 %
    Real Estate−0,7 %+10,9 %−1,3 %
    Industrials−1,9 %−3,1 %−2,5 %
    Utilities−1,9 %+28,2 %−2,5 %

    Developing storylines

    No tracked sagas currently linked to BTAI. Browse all sagas →

    Analysis

    AI analysis
    Generated · analysis pipeline · tier hybrid · as of 2026-08-04 ↑ At a glance

    Opportunity

    — missing data

    Upcoming catalysts

    Scheduled public events. Informational only — not investment advice.

    • Company
    • EarningsQ3 2026 earnings (expected)2026-10-28 · estimated
    • Macro
    • Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
    • Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
    • Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
    • Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
    • Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
    • Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
    • Macro & political
    • ElectionSE Swedish Election2026-09-14 · SE
    • ElectionUS U.S. Midterms2026-11-03 · US
    • ElectionFR French Legislative2027-06-01 · FR

    Pre-earnings brief

    — missing data

    Signals & dispatch

    peak dispatch · —

    Composite-score breakdown

    Synthesis

    Business

    BioXcel Therapeutics, Inc. (BTAI) is a pharmaceutical company operating within the Healthcare sector. The firm is headquartered in the United States and is primarily listed on the Nasdaq stock exchange. Specific details regarding operating segments and geographic revenue mix are not available.

    Classification99 %
    SectorHealth Care
    Industry groupPharmaceuticals
    AI synthesis
    GENERATED

    BioXcel Therapeutics, Inc. (BTAI) is currently classified as Pharmaceuticals within Pharmaceuticals (Healthcare). Classification confidence: 0.78 (rule-based classification). Capital structure on the latest snapshot: total assets 34,025,000 USD, total equity -105,543,000, short-term debt 22,431,000, long-term debt 77,858,000. Net cash position is approximately -83,109,000 USD. Self-calculated market cap is 19,747,784 USD (market_price × shares_outstanding_diluted). Profitability profile: revenue 206,000, gross profit 0, operating income -10,223,000, net income -12,691,000. Return on equity ~66.2%. Return on assets ~-205.4%. Operating-cash-flow to net-income ratio is 0.82. Risk profile from automated assessment: liquidity risk high, dilution risk medium. Flags: Current liabilities exceed current assets.; Net cash is negative after subtracting total debt.; Filings reference going-concern or substantial-doubt language.; Source documents mention dilution or offering risk.. Recent news context: [TRIGGER] ha_price_listing: ha_price_listing fired on BTAI — basis={'bars_asof': '2026-06-12', 'basis_date': '2026-07-15', 'quote_as_of': '2026-07-15T16:56:21Z', 'basis_source': 'broker_quote', 'staleness_days': 0}; source=ha_price_level; ticker=BTAI; metrics={'bars_asof': '2026-06-12', 'ref_price': 0.9016, 'basis_date': '2026-07-15', 'thresholds': {'min_bid': 1.0, 'low_price': 0.1, 'near_band': 1.1, 'deficiency_days': 30}, 'quote_as_of': '2026-07-15T16:56:21Z', 'basis_source': 'broker_quote', 'staleness_days': 0, 'consecutive_days_below_1': 0}; summary=BTAI price below 1 ($0.9016) — US continued-listing minimum-bid threshold; detector=broker_read_plane; severity=high; company_id=4fc94545-38ba-435e-abf6-78d3530d6bec; transition={'to': 'below_1', 'from': 'near_1'}; watcher_kind=ha_price_listing; event_context=BTAI price below 1 ($0.9016) — US continued-listing minimum-bid threshold; contributing_watchers=ha_price_listing (source=ha_price_level; url=plv:listing:below_1:2026-07-15). Additional context: ha_price_listing: basis={'bars_asof': '2026-06-12', 'basis_date': '2026-07-15', 'quote_as_of': '2026-07-15T16:56:21Z', 'basis_source': 'broker_quote', 'staleness_days': 0}; source=ha_price_level; ticker=BTAI; metrics={'bars_asof': '2026-06-12', 'ref_price': 0.9016, 'basis_date': '2026-07-15', 'thresholds': {'min_bid': 1.0, 'low_price': 0.1, 'near_band': 1.1, 'deficiency_days': 30}, 'quote_as_of': '2026-07-15T16:56:21Z', 'basis_source': 'broker_quote', 'staleness_days': 0, 'consecutive_days_below_1': 0}; summary=BTAI price below 1 ($0.9016) — US continued-listing minimum-bid threshold; detector=broker_read_plane; severity=high; company_id=4fc94545-38ba-435e-abf6-78d3530d6bec; transition={'to': 'below_1', 'from': 'near_1'}; watcher_kind=ha_price_listing; event_context=BTAI price below 1 ($0.9016) — US continued-listing minimum-bid threshold; contributing_watchers=ha_price_listing.

    Key takeaways
    • Return on equity is about 66.2%.
    • Debt to equity is about -0.95x.
    • [TRIGGER] ha_price_listing: ha_price_listing fired on BTAI — basis={'bars_asof': '2026-06-12', 'basis_date': '2026-07-15', 'quote_as_of': '2026-07-15T16:56:21Z', 'basis_source': 'broker_quote', 'staleness_days': 0}; source=ha_price_level; ticker=BTAI; metrics={'bars_asof': '2026-06-12', 'ref_price': 0.9016, 'basis_date': '2026-07-15', 'thresholds': {'min_bid': 1.0, 'low_price': 0.1, 'near_band': 1.1, 'deficiency_days': 30}, 'quote_as_of': '2026-07-15T16:56:21Z', 'basis_source': 'broker_quote', 'staleness_days': 0, 'consecutive_days_below_1': 0}; summary=BTAI price below 1 ($0.9016) — US continued-listing minimum-bid threshold; detector=broker_read_plane; severity=high; company_id=4fc94545-38ba-435e-abf6-78d3530d6bec; transition={'to': 'below_1', 'from': 'near_1'}; watcher_kind=ha_price_listing; event_context=BTAI price below 1 ($0.9016) — US continued-listing minimum-bid threshold; contributing_watchers=ha_price_listing (source=ha_price_level; url=plv:listing:below_1:2026-07-15)
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    • All statements contained in this Quarterly Report, other than statements of historical fact, are forward-looking statements, including, without limitation, statements regarding: ● our ability to raise additional capital and continue as a going concern; ● our sales strategy for IGALMI ® ; ● our ability to stay listed on the Nasdaq Capital market; ● compliance with covenants under our financing arrangements; ● developments relating to our SERENITY and TRANQUILITY programs; ● the size of our total addressable markets and related underlying estimates; ● our plans relating to clinical trials and marketing applications for our product candidates; ● our plans to research, develop and commercialize our current and future product candidates; ● our plans to seek to enter into collaborations for the development and commercialization of certain product candidates; ● the potential benefits of any future collaboration; ● the timing of and our ability to obtain and maintain regulatory approvals for our product candidates; ● the timing of and results of discussions we have with regulators; ● the rate and degree of market acceptance, clinical utility, number of prescribers and formulary wins of IGALMI ® and any product candidates for which we receive marketing approval; ● our commercialization, marketing and manufacturing capabilities and strategy, including the potential benefits from any advertising campaigns; ● our participation in, and any potential benefits from, events, conferences, presentations and conventions; ● our intellectual property position and strategy; ● our estimates regarding expenses, future revenue, capital requirements and need for additional financing; ● potential investments in, or other strategic options for, our subsidiary, OnkosXcel Therapeutics, LLC (“OnkosXcel”); ● developments relating to our competitors and our industry; ● the impact of government laws and regulations; ● developments related to legal proceedings and investigations; and ● our relationship with BioXcel LLC.

    Bull / Bear case

    Generated · model-assisted
    BULL CASE · 5

    Analysts project 907.9% upside to a mean price target of $12.80, signaling strong market optimism for future growth.

    Return on equity of 0.66 ranks best-in-class compared to the pharmaceutical cohort median of 0.03, indicating superior capital efficiency.

    Revenue grew 253% year-over-year in FY2025, demonstrating significant top-line expansion momentum despite ongoing operational losses.

    Debt-to-equity ratio of -0.95 ranks best-in-class within the pharmaceutical cohort, suggesting a relatively favorable leverage position.

    Return on invested capital stands at 9.60%, indicating the company generates positive returns on its capital base despite net losses.

    BEAR CASE · 4

    The company faces high liquidity risk and a current ratio of 0.83, indicating potential inability to meet short-term obligations.

    Net margin of -108.87% places the company in the bottom quartile of the pharmaceutical cohort, highlighting severe profitability challenges.

    Operating margin of -78.60% ranks in the bottom quartile of the pharmaceutical cohort, reflecting significant operational inefficiencies.

    Medium dilution risk exists as the company continues to incur substantial net losses, potentially requiring equity financing to sustain operations.

    In focus — financials by report

    Quarterly
    Annual
    QUARTERLYFiled 2026-03-31
    Q4 2025 · Quarter highlights
    Open report →

    Revenue $206.0k; Operating income -$10.2M.

    Revenue$206.0k
    Operating income-$10.2M
    Net income-$12.7M
    Free cash flow-$11.8M
    EPS—
    Operating cash flow-$11.8M
    Financials
    Income statement
    Revenue$206.0k
    Gross profit—
    Operating income-$10.2M
    Net income-$12.7M
    Margins
    Gross margin—
    Operating margin-4962.6%
    Net margin-6160.7%
    FCF margin-5732.5%
    Balance sheet
    Total assets$34.0M
    Total liabilities$139.6M
    Total equity-$105.5M
    Cash & equivalents$17.2M
    Long-term debt$77.9M
    Cash flow
    Operating cash flow-$11.8M
    CapEx$0.00
    Free cash flow-$11.8M
    SBC$435.0k
    P&L flow · revenue → net income
    Revenue $206.0kOperating costs $10.4MTax $2.5MNet income $12.7M
    Highlights
    • ▍Revenue $206.0k
    • ▍Operating income -$10.2M
    • ▍Net margin -6160.7%

    Valuation FY

    Market price
    $0,87
    Market cap
    $19.7M
    Enterprise valueⓘ
    $102.9M
    P/Eⓘ
    —
    Non-GAAP P/Eⓘ
    —
    EV / Revenueⓘ
    160.2x
    EV / Op incomeⓘ
    —
    EV / OCFⓘ
    —
    P / Bⓘ
    —
    P / Tangible bookⓘ
    —
    Tangible book
    -$105.5M
    Net cashⓘ
    -$83.1M
    Current ratioⓘ
    0.6
    Debt / equityⓘ
    -0.9
    ROAⓘ
    -2.1%
    ROEⓘ
    66.2%
    Cash conversionⓘ
    82.0%
    CapEx / revenueⓘ
    0.0%
    SBC / revenueⓘ
    4.3%
    Dilution ratioⓘ
    -12.9%

    Revenue by segment

    Market share

    INDUSTRYSEGMENTCOMPANYHealthcareIndustryPharmaceuticals695,2B node revenueJNJ 13,6%LLY 9,4%MRK 9,3%PFE 9,0%ABBV 8,8%AZN 8,4%BMY 6,9%GSK 6,2%Other 28,3%
    Source: company disclosures · own-taxonomy revenue-covered setBTAI 0,0% · rank #68 of 68

    Business relationships

    Business relationships1 disclosed relationship · 1 type · extracted from filings & disclosures
    Customers1
    ANON:CUST:BTAI.O:P8ANON:CUST:BTAI.O:P8Customer88%

    Supply chain

    Vendors → BTAI ↔ Partners → Customers · click any node to drill
    VENDORSPARTNERSCUSTOMERSBTAIBTAIBioXcel Therapeutics, Inc.1 entityANON:CUST:BTAI.O:P8
    0 mentions in 10-K0 from corporate websites0 from news dispatches
    Updated 2026-07-12

    Peer comparison

    Peer comparison8 peers · vs BTAI · multiples and returns
    JN
    JNJ—
    Johnson & Johnson
    $254,43
    622,1B USD
    P/E
    23,5x
    — vs self
    Div yield
    2,0 %
    — vs self
    ROE
    33,0 %
    -33,2 vs self
    LL
    LLY—
    ELI LILLY AND COMPANY
    $1 124,04
    1,01T USD
    P/E
    52,0x
    — vs self
    Div yield
    0,5 %
    — vs self
    ROE
    66,2 %
    -0,1 vs self
    MR
    MRK—
    MERCK & CO., INC.
    —
    —
    P/E
    —
    — vs self
    Div yield
    —
    — vs self
    ROE
    —
    — vs self
    PF
    PFE—
    Pfizer Inc
    $25,05
    143,6B USD
    P/E
    18,2x
    — vs self
    Div yield
    6,9 %
    — vs self
    ROE
    8,6 %
    -57,6 vs self
    AB
    ABBV—
    Abbvie Inc
    $245,10
    434,8B USD
    P/E
    110,6x
    — vs self
    Div yield
    2,5 %
    — vs self
    ROE
    -63,5 %
    -129,7 vs self
    AZ
    AZN—
    AZN.L
    $157,59
    —
    P/E
    —
    — vs self
    Div yield
    —
    — vs self
    ROE
    —
    — vs self
    BM
    BMY—
    Bristol-myers Squibb Co
    $65,60
    134,3B USD
    P/E
    17,7x
    — vs self
    Div yield
    4,1 %
    — vs self
    ROE
    31,6 %
    -34,6 vs self
    GS
    GSK—
    Gsk Plc-spon Adr
    —
    —
    P/E
    —
    — vs self
    Div yield
    —
    — vs self
    ROE
    —
    — vs self

    Market position

    Stress test

    — missing data

    Predictor forecast

    Next quarternear-term
    Earnings · next quarterconf 60 %
    EPS
    Consensus EPS
    -2,18
    Predicted surprise
    -0,08
    Beat probability
    60 %
    Analysts
    5
    Other metrics
    Revenue
    —
    no estimate
    Segment revenue
    —
    no estimate
    Margin
    —
    no estimate
    Segment margin
    —
    no estimate
    revision ratio 0,31 · as of 2026-07-17 · Earnings Surprise V1
    Period note: consensus is not fiscal-period-aligned at source — read as consensus vs the last reported actual, not a calibrated same-quarter surprise.
    Full fiscal year~1 year ahead
    Full fiscal year · our forecast vs guidance vs consensus
    MetricOur forecastGuidanceConsensus
    EPS—no estimate—no estimate-2,18
    Revenue—no estimate—no estimate960,000 USD
    Operating income—no estimate—no estimate-47,4M USD
    Full-year consensus mean (period as reported by source) · consensus in USD. Company-level full-year forecast and management guidance are not yet modelled at scale — shown as "no estimate", never inferred.
    Probabilistic model output — not investment advice. · generated 2026-08-04

    Options

    — missing data

    Short squeeze

    — missing data

    Earnings-call key lines

    — missing data

    Consensus distribution

    sell-side coverage
    Recommendation distribution5 analysts
    Strong buy0
    Buy4
    Hold0
    Sell1
    Strong sell0
    12-month price target$12,80 · Median $8,00
    Low $1,00High $38,00
    Operating income · consensus-47,4M USD
    EPS surprise
    −162,4 %
    reported vs consensus · miss
    Revenue surprise
    −33,1 %
    reported vs consensus · miss

    Estimate revisions

    consensus EPS · 26-week trend
    — missing data

    Sell-side observations

    Low$1,00
    Mean$12,80
    Median$8,00
    High$38,00
    Spot$0,87
    +1373.3 %implied to mean12-month sell-side price targets · ▲ spot

    Themes

    — missing data

    ESG

    — missing data

    Risk factors

    Dilution riskMedium
    Liquidity riskHigh
    Filing-based flags
    • Current liabilities exceed current assets.
    • Net cash is negative after subtracting total debt.
    • Filings reference going-concern or substantial-doubt language.
    • Source documents mention dilution or offering risk.

    Benchmarks vs cohort

    Op Margin-7 860,0 %Bottom quartile
    Net Margin-10 887,4 %Bottom quartile
    ROE66,2 %Best in class
    Capex / Rev0,0 %Above P75
    D/E-0,95Best in class
    Cash Conv0,82Below median

    Corporate actions / M&A

    — missing data

    FX exposure

    — missing data

    Comparable transactions

    — missing data

    Derivatives & instruments

    Derivative transactions

    Net acquired 110 831 sh20 exercises · 9 grants11 insiders
    • Rodriguez JavierSee Remarks · Restricted Stock Units → Common StockDisposed 35exercise · 2026-06-15
    • Steinhart Richard IChief Financial Officer · Restricted Stock Units → Common StockDisposed 35exercise · 2026-06-15
    • Yocca FrankChief Scientific Officer · Restricted Stock Units → Common StockDisposed 35exercise · 2026-06-15
    • Mehta VimalDirector, CEO and President · Restricted Stock Units → Common StockDisposed 219exercise · 2026-06-15
    • Mehta VimalDirector, CEO and President · Restricted Stock Units → Common StockDisposed 49 758exercise · 2026-05-04
    • Yocca FrankChief Scientific Officer · Restricted Stock Units → Common StockDisposed 17 500exercise · 2026-05-04
    • Rodriguez JavierSee Remarks · Restricted Stock Units → Common StockDisposed 17 500exercise · 2026-05-04
    • Steinhart Richard IChief Financial Officer · Restricted Stock Units → Common StockDisposed 17 500exercise · 2026-05-04
    • Yocca FrankChief Scientific Officer · Restricted Stock Units → Common StockDisposed 9 000exercise · 2026-05-01
    • Mehta VimalDirector, CEO and President · Restricted Stock Units → Common StockDisposed 18 000exercise · 2026-05-01
    • Rodriguez JavierSee Remarks · Restricted Stock Units → Common StockDisposed 9 000exercise · 2026-05-01
    • Steinhart Richard IChief Financial Officer · Restricted Stock Units → Common StockDisposed 9 000exercise · 2026-05-01
    • Rodriguez JavierSee Remarks · Restricted Stock Units → Common StockDisposed 35exercise · 2026-03-15
    • Steinhart Richard IChief Financial Officer · Restricted Stock Units → Common StockDisposed 35exercise · 2026-03-15
    • Mehta VimalDirector, CEO and President · Restricted Stock Units → Common StockDisposed 219exercise · 2026-03-15
    • Yocca FrankChief Scientific Officer · Restricted Stock Units → Common StockDisposed 35exercise · 2026-03-15
    • Mehta VimalDirector, CEO and President · Restricted Stock Units → Common StockDisposed 164exercise · 2026-03-14
    • Rodriguez JavierSee Remarks · Restricted Stock Units → Common StockDisposed 33exercise · 2026-03-14
    • Yocca FrankChief Scientific Officer · Restricted Stock Units → Common StockDisposed 33exercise · 2026-03-14
    • Steinhart Richard IChief Financial Officer · Restricted Stock Units → Common StockDisposed 33exercise · 2026-03-14
    • Laumas SandeepDirector · Stock Option (Right to Buy) → Common StockAcquired 17 000 @ $2,01grant · 2026-01-09
    • Patni RajivDirector · Stock Option (Right to Buy) → Common StockAcquired 17 000 @ $2,01grant · 2026-01-09
    • Votruba MichalDirector · Stock Option (Right to Buy) → Common StockAcquired 17 000 @ $2,01grant · 2026-01-09
    • MUELLER PETERDirector · Stock Option (Right to Buy) → Common StockAcquired 17 000 @ $2,01grant · 2026-01-09
    • MACK DAVID J.Director · Stock Option (Right to Buy) → Common StockAcquired 17 000 @ $2,01grant · 2026-01-09

    Actions

    Ask Handelsavisen

    — missing data
    Data sources
    • Market data
    • Regulatory filings
    • Issuer disclosures
    • Public news
    • Earnings transcripts
    • Consensus estimates
    • ESG data
    • Reference data
    How metrics are computed
    • Return On Equity
      net_income / total_equity
    • Enterprise Value
      market_cap - net_cash
    • Ev To Revenue
      enterprise_value / revenue
    • Net Cash
      cash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
    • Market Price
      input from market-data provider (delayed close or quote-shim mid)
    • Capex To Revenue
      capital_expenditure / revenue
    Source documents
    • BioXcel Therapeutics, Inc. company facts · 2026-07-17
    • BioXcel Therapeutics, Inc. 10-Q 2026-05-15 · 2026-07-17
    • BioXcel Therapeutics, Inc. 10-K 2026-03-27 · 2026-07-17
    • BioXcel Therapeutics, Inc. 10-Q 2025-11-12 · 2026-07-17
    • BioXcel Therapeutics, Inc. 10-Q 2025-08-12 · 2026-07-17
    • ha_price_listing fired on BTAI · 2026-07-17
    • BioXcel Therapeutics Inc Market data — analyst estimates · 2026-07-17
    • BioXcel Therapeutics Inc Market data — ESG · 2026-07-17
    • BioXcel Therapeutics, Inc. HA canonical relationships · 2026-07-17

    Ownership & reference

    Top holders

    • JONES FINANCIAL COMPANIES LLLPInstitutional Investor · as of 2026-03-310,00 %$0M
    • Geode Capital Management, L.L.C.Investment Managers · as of 2026-03-310,00 %$0M
    • BlackRock Institutional Trust Company, N.A.Investment Managers · as of 2024-06-300,00 %$1M
    • UBS Financial Services, Inc.Investment Managers · as of 2026-03-310,00 %$0M
    • Vanguard Capital Management, LLCInvestment Managers · as of 2025-12-310,00 %$0M
    • Northern Trust Investments, Inc.Investment Managers · as of 2026-03-310,00 %$0M
    • FMR LLCInstitutional Investor · as of 2026-03-310,00 %$0M
    • State Street Investment Management (US)Investment Managers · as of 2026-03-310,00 %$0M
    • Wells Fargo AdvisorsBrokerage Firms · as of 2026-03-310,00 %$0M
    • Morgan Stanley Smith Barney LLCInvestment Managers · as of 2026-03-310,00 %$0M

    Leadership

    • Vimal MehtaPresident, Chief Executive Officer, Director

    Insider activity

    Net selling0 buys · 4 sellsnet -$43K4 insiders · last 365d
    • Yocca FrankChief Scientific Officer · Common StockOther 35 · 2026-06-15
    • Rodriguez JavierSee Remarks · Common StockOther 35 · 2026-06-15
    • Steinhart Richard IChief Financial Officer · Common StockOther 35 · 2026-06-15
    • Mehta VimalDirector, CEO and President · Common StockOther 219 · 2026-06-15
    • Mehta VimalDirector, CEO and President · Common StockSold 19 419 @ $1,09$21K · 2026-05-20
    • Yocca FrankChief Scientific Officer · Common StockSold 6 845 @ $1,08$7K · 2026-05-20
    • Rodriguez JavierSee Remarks · Common StockSold 6 560 @ $1,08$7K · 2026-05-20
    • Steinhart Richard IChief Financial Officer · Common StockSold 6 845 @ $1,08$7K · 2026-05-20
    • Steinhart Richard IChief Financial Officer · Common StockOther 17 500 · 2026-05-04
    • Yocca FrankChief Scientific Officer · Common StockOther 17 500 · 2026-05-04
    • Mehta VimalDirector, CEO and President · Common StockOther 49 758 · 2026-05-04
    • Rodriguez JavierSee Remarks · Common StockOther 17 500 · 2026-05-04
    • Rodriguez JavierSee Remarks · Common StockOther 9 000 · 2026-05-01
    • Mehta VimalDirector, CEO and President · Common StockOther 18 000 · 2026-05-01
    • Steinhart Richard IChief Financial Officer · Common StockOther 9 000 · 2026-05-01
    • Yocca FrankChief Scientific Officer · Common StockOther 9 000 · 2026-05-01
    • Steinhart Richard IChief Financial Officer · Common StockOther 35 · 2026-03-15
    • Mehta VimalDirector, CEO and President · Common StockOther 219 · 2026-03-15
    • Rodriguez JavierSee Remarks · Common StockOther 35 · 2026-03-15
    • Yocca FrankChief Scientific Officer · Common StockOther 35 · 2026-03-15
    • Steinhart Richard IChief Financial Officer · Common StockOther 33 · 2026-03-14
    • Yocca FrankChief Scientific Officer · Common StockOther 33 · 2026-03-14
    • Rodriguez JavierSee Remarks · Common StockOther 33 · 2026-03-14
    • Mehta VimalDirector, CEO and President · Common StockOther 164 · 2026-03-14

    Short positioning

    4.0Mshares short+10.4% vs prior
    1.64days to cover
    43.6%short of daily vol
    2.0Kfails-to-deliver
    as of 2026-07-15 · short-interest report (free)

    Geographic breakdown

    — missing data
    Listings · one canonical issuer all listings resolve to the canonical
    BTAICanonical
    Nasdaq · USD

    Intel & risk

    PredictorBeat prob60 %Surprise-0,08Full forecast →
    What changed

    no material change vs prior analysis (walked 17 fields; 4 schema-expansion field(s) excluded)

    • Narrative— → —medium
    • Conclusion— → —medium
    • Key takeaways— → —medium
    • Company share pct— → —medium
    vs prior analysis 4 days ago
    peak dispatch · —
    OSINT findings
    Dilution riskMedium
    Liquidity riskHigh
    Current liabilities exceed current assets.
    Net cash is negative after subtracting total debt.
    Filings reference going-concern or substantial-doubt language.
    Source documents mention dilution or offering risk.
    Relationship graph
    BTAIANON:CUSPharmaceutical
    This companySectorCustomers

    Evidence & claims

    From filings & derived data
    • R&D expense (YoY) (2025-12-31 vs 2024-12-31): -0.6%Derived (calculated)
    • Total liabilities (YoY) (2025-12-31 vs 2024-12-31): 6.8%Derived (calculated)
    • Total assets (YoY) (2025-12-31 vs 2024-12-31): 17.2%Derived (calculated)
    • Shareholders' equity (YoY) (2025-12-31 vs 2024-12-31): -2.5%Derived (calculated)
    • Operating income (YoY) (2025-12-31 vs 2024-12-31): 25.0%Derived (calculated)
    • Operating cash flow (YoY) (2025-12-31 vs 2024-12-31): 20.0%Derived (calculated)
    • Net income (YoY) (2025-12-31 vs 2024-12-31): -17.3%Derived (calculated)
    • EPS (diluted) (YoY) (2025-12-31 vs 2024-12-31): 75.6%Derived (calculated)
    • Cost of revenue (YoY) (2025-12-31 vs 2024-12-31): -92.3%Derived (calculated)
    • EPS (basic) (YoY) (2025-12-31 vs 2024-12-31): 75.6%Derived (calculated)
    • Cash & equivalents (YoY) (2025-12-31 vs 2024-12-31): -4.8%Derived (calculated)
    • Debt-to-equity (FY 2025-12-31): -1.47xDerived (calculated)
    • Current ratio (FY 2025-12-31): 0.83xDerived (calculated)
    • Return on assets (FY 2025-12-31): -155.6%Derived (calculated)
    • Return on equity (FY 2025-12-31): 73.2%Derived (calculated)
    • Net margin (FY 2025-12-31): -10,887.4%Derived (calculated)
    • Long-term debt (YoY) (2025-12-31 vs 2024-12-31): 6.9%Derived (calculated)
    • Revenue (YoY) (2025-12-31 vs 2024-12-31): -71.7%Derived (calculated)
    • Net income (annual): USD -69.9MSEC XBRL filing
    • Revenue (annual): USD 642KSEC XBRL filing
    • EPS (basic) (annual): USD-PER-SHARES -6SEC XBRL filing
    • Current liabilities (annual): USD 53.93MSEC XBRL filing
    • Shares outstanding (annual): 22.33MSEC XBRL filing
    • Long-term debt (annual): USD 109.59MSEC XBRL filing
    Showing 24 of 60 surfaced claims.
    Atomic claims from regulatory filings and derived calculations. Provenance shown as source kind only.

    The Thread

    Everything we know, in order
    2026-10-28EVENTUpcomingQ3 2026 earnings (expected) estimated date
    2026-07-15 21:49 UTCEVENTHa Price Listing BTAI price below 1 ($0.9016) — US continued-listing minimum-bid threshold
    2026-07-08 21:47 UTCEVENTHa Price Listing BTAI price below 1 ($0.81) — US continued-listing minimum-bid threshold
    2026-06-30 03:38 UTCEARNINGSUpcomingForecast: earnings_forecast (90d)
    2026-06-15 00:00 UTCINSIDER8 insider transactions — 2026-06 4 derivative
    2026-06-15INSIDERYocca Frank transacted 35 sh — Chief Scientific Officer
    2026-06-15INSIDERRodriguez Javier transacted 35 sh — See Remarks
    2026-06-15INSIDERSteinhart Richard I transacted 35 sh — Chief Financial Officer
    2026-06-15INSIDERMehta Vimal transacted 219 sh — Director, CEO and President
    2026-06-15INSIDERMehta Vimal disposed of 219 sh Restricted Stock Units — Director, CEO and President
    2026-06-15INSIDERSteinhart Richard I disposed of 35 sh Restricted Stock Units — Chief Financial Officer
    2026-06-15INSIDERRodriguez Javier disposed of 35 sh Restricted Stock Units — See Remarks
    2026-06-15INSIDERYocca Frank disposed of 35 sh Restricted Stock Units — Chief Scientific Officer
    2026-05-20 00:00 UTCINSIDER20 insider transactions — 2026-05 8 derivative
    2026-05-20INSIDERMehta Vimal sold 19.4k sh — Director, CEO and President ~$21k
    2026-05-20INSIDERYocca Frank sold 6.8k sh — Chief Scientific Officer ~$7k
    2026-05-20INSIDERRodriguez Javier sold 6.6k sh — See Remarks ~$7k
    2026-05-20INSIDERSteinhart Richard I sold 6.8k sh — Chief Financial Officer ~$7k
    2026-05-15FILINGFORM 8-K →
    2026-05-15FILING10-Q filing →
    2026-05-04INSIDERSteinhart Richard I transacted 17.5k sh — Chief Financial Officer
    2026-05-04INSIDERYocca Frank transacted 17.5k sh — Chief Scientific Officer
    2026-05-04INSIDERMehta Vimal transacted 49.8k sh — Director, CEO and President
    2026-05-04INSIDERRodriguez Javier transacted 17.5k sh — See Remarks
    2026-05-04INSIDERYocca Frank disposed of 17.5k sh Restricted Stock Units — Chief Scientific Officer
    2026-05-04INSIDERRodriguez Javier disposed of 17.5k sh Restricted Stock Units — See Remarks
    2026-05-04INSIDERSteinhart Richard I disposed of 17.5k sh Restricted Stock Units — Chief Financial Officer
    2026-05-04INSIDERMehta Vimal disposed of 49.8k sh Restricted Stock Units — Director, CEO and President
    2026-05-01INSIDERRodriguez Javier transacted 9.0k sh — See Remarks
    2026-05-01INSIDERMehta Vimal transacted 18.0k sh — Director, CEO and President
    2026-05-01INSIDERSteinhart Richard I transacted 9.0k sh — Chief Financial Officer
    2026-05-01INSIDERYocca Frank transacted 9.0k sh — Chief Scientific Officer
    2026-05-01INSIDERMehta Vimal disposed of 18.0k sh Restricted Stock Units — Director, CEO and President
    2026-05-01INSIDERRodriguez Javier disposed of 9.0k sh Restricted Stock Units — See Remarks
    2026-05-01INSIDERYocca Frank disposed of 9.0k sh Restricted Stock Units — Chief Scientific Officer
    2026-05-01INSIDERSteinhart Richard I disposed of 9.0k sh Restricted Stock Units — Chief Financial Officer
    2026-04-17FILINGFORM 8-K →
    2026-04-01FILINGFORM 8-K →
    2026-03-31EARNINGSQuarterly results — Q4 2025 Revenue USD 0.2M · Net USD -12.7M
    2026-03-27FILING10-K filing →
    Showing the 40 most recent of 67 entries.
    The entity's full life in the product — typed, chronological, joined across Newspaper, Platform and Data. Our memory, made visible.
    Sources filings · IR · transcripts · market data · tier hybrid · as of 2026-08-04 Market data · Issuer disclosures · Public news · Earnings transcripts · Consensus estimates · ESG data · Reference data Premium coverage