BIOXCEL THERAPEUTICS Reports Third Quarter Financial Results for FY2023
November 20, 2023
🌥️Earnings Overview
Bioxcel Therapeutics ($NASDAQ:BTAI) reported their financial results for the third quarter of their fiscal year 2023, ending on September 30th, 2023. Total revenue for the period was up 142.9%, reaching $0.3 million compared to the same quarter of the previous year. The company also saw an increase in their net loss, from $41.8 million in the same quarter of last year to $50.5 million.
Market Price
The stock opened at $3.6 and closed at $4.2, representing a 23.4% plunge from its previous closing price of $5.5. This decline is concerning for investors as it indicates that the company’s performance is not meeting expectations. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Bioxcel Therapeutics. More…
| Total Revenues | Net Income | Net Margin |
| 1.24 | -211.6 | -16702.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Bioxcel Therapeutics. More…
| Operations | Investing | Financing |
| -166.78 | -0.02 | 24.45 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Bioxcel Therapeutics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 100.45 | 141.06 | -1.39 |
Key Ratios Snapshot
Some of the financial key ratios for Bioxcel Therapeutics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 0.0% | – | -16006.9% |
| FCF Margin | ROE | ROA |
| -13430.1% | 715.3% | -123.7% |
Analysis
GoodWhale has undertaken an analysis of BIOXCEL THERAPEUTICS‘s fundamentals, and has put together the following report. After analyzing the company’s Star Chart, it’s evident that BIOXCEL THERAPEUTICS is strong in growth, but weak in asset, dividend, and profitability. Based on this, we conclude that BIOXCEL THERAPEUTICS is classified as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. This type of company typically attracts investors looking for short-term gains, such as venture capitalists and angel investors. However, BIOXCEL THERAPEUTICS has a low health score of 2/10, based on its cashflows and debt. This suggests that the company is less likely to safely ride out any crisis without the risk of bankruptcy, so investors should exercise caution when considering investing in such a company. More…
Peers
The company discovers and develops novel therapeutics to address unmet medical needs in neuroscience and immunology. BioXcel Therapeutics Inc has a portfolio of four clinical-stage product candidates. The company’s lead product candidate, BXCL501, is a sublingual thin film formulation of a highly potent and selective cannabinoid type-1 receptor inverse agonist.
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Summary
BIOXCEL THERAPEUTICS reported strong revenue growth in the third quarter of FY2023, with total revenue increasing by 142.9% compared to the same quarter last year. Despite this, the company posted a net loss of USD 50.5 million, up from USD 41.8 million in the same quarter last year. Stock price dropped on the same day in reaction to the results.
For investors considering BIOXCEL THERAPEUTICS, it is important to note the impressive revenue growth, as well as the large increase in net losses which could signal further risks. Ultimately, potential investors must weigh the positive and negative aspects of investing in BIOXCEL THERAPEUTICS before making a decision.
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