BioXcel Therapeutics Announces Proposed Public Offering

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NEW HAVEN, Conn., Nov.21, 2024 (GLOBE NEWSWIRE) -- BioXcel Therapeutics, Inc.(the "Company") (NASDAQ:BTAI), a biopharmaceutical company utilizing artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology, today announced that it has commenced an underwritten public offering of shares of its common stock, par value $0.001 per share ("Common Stock"), and accompanying warrants to purchase shares of Common Stock, and, in lieu thereof to certain investors that so choose, pre-funded warrants to purchase shares of Common Stock and accompanying warrants to purchase shares of Common Stock.

The securities are being offered by the Company pursuant to a shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission (the "SEC") on November 2, 2023 and which became effective on November 13, 2023.

The Company intends to use the net proceeds of this offering to fund the SERENITY At-Home trial, prepare for the initiation of the TRANQUILITY In-Care trial, working capital and general corporate purposes.

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Author / Journalist: Globe Newswire

Category: InvestingBusiness

Markets: United States

Topics: BTAI Press Releases News IPOs

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-21 @ 21:47:12 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 864 words

Reading Time: 5 minutes read

Sentences: 27 lines

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Copyright Owner: © Benzinga

News ID: 23746296

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