BioXcel files Chapter 11, names Teva stalking horse bidder

BioXcel Therapeutics, Inc. (NASDAQ: BTAI ) shares plunged on Friday as the company commenced voluntary Chapter 11 proceedings tied to a court-supervised asset sale process. 5 million. BioXcel plunges on Teva asset sale, Chapter 11 BioXcel Therapeutics entered into an asset sale agreement with Teva Pharmaceuticals International GmbH, a subsidiary of Teva Pharmaceutical Industries Ltd.

(NYSE: TEVA ). The deal covers all assets, including IGALMI (dexmedetomidine) sublingual film and a pending supplemental NDA for BXCL501’s potential at-home use. S. Bankruptcy Court for the District of Delaware to run a court-supervised "363" auction, with Teva set as the stalking horse bidder.

, Chief Executive Officer of BioXcel Therapeutics. “Our priority is to execute a disciplined and efficient sale process while supporting all of our stakeholders and continuing to support the sNDA with a PDUFA date of November 14, 2026. Read Also: Aurinia Pharmaceuticals and Teva Settle Patent Dispute for Kidney Disease Drug Technical Setup: BTAI Trades Well Below Key Moving Averages At 27 cents, BioXcel Therapeutics remains well below its 20-day, 50-day, 100-day and 200-day moving averages, underscoring persistent technical weakness.

The wide gap underscores persistent selling pressure and suggests any rebound could face significant overhead resistance before reaching longer-term trend levels. Momentum also remains weak. MACD is below its signal line, with a negative histogram, indicating fading upside momentum. Key Resistance: 70 cents — a former 52-week low area that could now act as overhead resistance following the breakdown.

BioXcel Therapeutics: IGALMI And BXCL501 Pipeline BioXcel Therapeutics is a clinical-stage biopharmaceutical company using artificial intelligence to develop treatments in neuroscience and immuno-oncology. Its pipeline includes BXCL501 for agitation across neurological disorders and BXCL701, an investigational therapy for aggressive prostate cancer and other tumors. Its commercial product, IGALMI, is FDA-approved for acute agitation associated with schizophrenia or bipolar I or II disorder in adults. 33% at 19 cents at last check on Friday, according to Pro data.

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