BioXcel Therapeutics Announces Closing of $8.0 Million Registered Direct Offering
MWN-AI** Summary
BioXcel Therapeutics, Inc. (Nasdaq: BTAI), a biopharmaceutical company utilizing artificial intelligence to create innovative therapies in neuroscience, has announced the closure of an $8.0 million registered direct offering as of March 11, 2026. The company issued approximately 4.5 million shares of its common stock, along with accompanying warrants for purchase of an equal number of shares at a combined price of $1.739 each.
The newly issued warrants possess an exercise price of $1.614 per share and can be exercised any time post-issuance, expiring five years from that date. Additionally, BioXcel Therapeutics announced a reduction in the exercise price of previously issued warrants held by investors to the same $1.614 per share and extended their expiration to match the new offering's five-year anniversary. The investor compensated the company with around $173,000 for this adjustment.
The total gross proceeds of approximately $8 million will contribute to the company’s ongoing projects, providing crucial funds that may help accelerate drug development initiatives. Rodman & Renshaw LLC served as the exclusive placement agent for this offering.
The offering was conducted under a shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC), which became effective on November 13, 2023. Interested parties can access the prospectus on the SEC’s website or request further details from Rodman & Renshaw.
BioXcel Therapeutics is focused on using AI combined with existing drugs to discover new therapeutic indications, enhancing its platform's value in addressing substantial unmet medical needs. The company’s approach involves leveraging data and machine learning to innovate within the biopharmaceutical space and transform standards of treatment in neuroscience.
MWN-AI** Analysis
On March 11, 2026, BioXcel Therapeutics, Inc. (NASDAQ: BTAI) successfully closed a registered direct offering, raising approximately $8 million through the issuance of approximately 4.5 million shares of common stock and accompanying warrants. This funding is crucial as BioXcel leverages artificial intelligence to advance its pipeline in neuroscience, particularly through innovative approaches like drug re-innovation.
The pricing details reveal that the offering was executed at $1.739 per share, with an exercise price of the accompanying warrants set at $1.614. This strategic move signals to investors that BioXcel is actively managing its capital structure, optimizing its funding options. By reducing the exercise price on previously issued warrants and extending their duration, BioXcel is likely aiming to enhance investor confidence and stimulate potential capital inflow through warrant exercises.
From a market perspective, this offering is a double-edged sword. While it provides immediate capital to fund research and product development, it also increases the share count, which can dilute existing shareholders. Investors should weigh the short-term dilution against the long-term potential of BioXcel’s AI-driven therapeutic innovations. The market’s response to this offering will be critical—successful execution may enhance investor sentiment and stabilize the share price, while market apprehension could lead to volatility.
Given the innovative focus on neuroscience and the utilization of big data in drug development, the long-term growth potential for BioXcel is notable. Investors may consider this as a buying opportunity, particularly if they have confidence in the company's strategic direction and growth projections. However, it is essential to remain cognizant of the broader market circumstances and the inherent risks present in biopharmaceutical ventures. Continuous evaluation of BioXcel’s pipeline updates and regulatory progress will be integral to tailoring investment strategies.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
NEW HAVEN, Conn., March 11, 2026 (GLOBE NEWSWIRE) -- BioXcel Therapeutics, Inc. (the “Company”) (Nasdaq: BTAI), a biopharmaceutical company built on artificial intelligence to develop transformative medicines in neuroscience, today announced the closing of its previously announced registered direct offering of 4,500,785 shares (the “Shares”) of common stock, par value $0.001 per share (“Common Stock”) (or common stock equivalents in lieu thereof), and accompanying warrants (the “Accompanying Warrants”) to purchase up to 4,500,785 shares of Common Stock at a combined offering price of $1.739 per Share (or per common stock equivalent in lieu thereof) and Accompanying Warrant. The Accompanying Warrants have an exercise price of $1.614 per share of Common Stock, are exercisable at any time after the date of issuance, subject to certain ownership limitations, and expire five years from the date of issuance.
The Company also reduced the exercise price of warrants to purchase up to an aggregate of 1,385,083 shares of Common Stock previously issued to and held by the investor to $1.614 per share and extended those warrant expiration dates to the five year anniversary of the closing of the offering. The investor paid approximately $173,000 in exchange for the reduction in exercise price of these warrants.
The transaction resulted in gross proceeds to the Company of approximately $8.0 million before deducting the placement agent's fees and other offering expenses payable by the Company (excluding the proceeds, if any, from the exercise of the Accompanying Warrants).
The closing of the offering occurred on March 11, 2026.
Rodman & Renshaw LLC acted as the exclusive placement agent for the offering.
The securities described above were offered pursuant to a shelf registration statement on Form S?3 (File No. 333?275261) that was previously filed with the U.S. Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on November 13, 2023. The offering of such securities was made only by means of a prospectus supplement that forms a part of such effective registration statement. A prospectus supplement, which contains additional information relating to the offering, and the accompanying base prospectus was filed with the SEC and is available on the SEC’s website at www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying base prospectus may also be obtained from Rodman & Renshaw LLC at 600 Lexington Avenue, 32nd Floor, New York, NY 10022, by telephone at (212) 540?4414, or by email at info@rodm.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction.
About BioXcel Therapeutics, Inc.
BioXcel Therapeutics, Inc. (Nasdaq: BTAI) is a biopharmaceutical company built on artificial intelligence (“AI”) to develop transformative medicines in neuroscience. Its wholly owned subsidiary, OnkosXcel Therapeutics, is focused on the development of medicines in immuno-oncology. The Company’s drug re-innovation approach leverages existing approved drugs and/or clinically validated product candidates together with big data and proprietary machine learning algorithms to identify new therapeutic indications.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact should be considered forward-looking statements. When used herein, words including “anticipate,” “believe,” “can,” “continue,” “could,” “designed,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking. All forward-looking statements are based upon the Company’s current expectations and various assumptions. The Company believes there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain. The Company may not realize its expectations, and its beliefs may not prove correct. Actual results could differ materially from those described or implied by such forward-looking statements as a result of various important factors, including, without limitation, market and other conditions and the important factors discussed under the caption “Risk Factors” in its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025, and its Annual Report on Form 10-K for the fiscal year ended December 31, 2024, as such factors may be updated from time to time in its other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While the Company may elect to update such forward-looking statements at some point in the future, except as required by law, it disclaims any obligation to do so, even if subsequent events cause its views to change. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.
Contact Information
Corporate/Investors
Russo Partners
Nic Johnson
nic.johnson@russopartnersllc.com
1.303.482.6405
Media
Russo Partners
David Schull
1.858.717.2310
Source: BioXcel Therapeutics, Inc.
FAQ**
How does BioXcel Therapeutics Inc. (BTAI) plan to utilize the approximately $8.0 million in gross proceeds from the recent offering to further its drug development efforts in neuroscience and immuno-oncology?
What specific milestones does BioXcel Therapeutics Inc. (BTAI) aim to achieve within the next five years, particularly regarding new therapeutic indications derived from its AI-driven drug re-innovation approach?
Can you elaborate on the impact of reducing the exercise price of previously issued warrants to $1.614 per share for BioXcel Therapeutics Inc. (BTAI) on investor confidence and future funding efforts?
How does BioXcel Therapeutics Inc. (BTAI) assess and mitigate the risks associated with its forward-looking statements, particularly concerning market conditions and the ongoing development of its product candidates?
**MWN-AI FAQ is based on asking OpenAI questions about BioXcel Therapeutics Inc. (NASDAQ: BTAI).
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