BioXcel Therapeutics Secures Nasdaq Compliance Extension Until September 2025

BioXcel Therapeutics, Inc. has been granted an extension by the Nasdaq Hearings Panel until September 16, 2025, to regain compliance with Nasdaq Listing Rule 5550(b)(2), which requires maintaining a market value of listed securities of at least $35 million for 10 consecutive business days. Despite the extension, the company currently faces significant financial challenges, including a market capitalization of approximately $8.42 million, ongoing losses, high debt, and negative cash flows, leading to a weak financial health rating and an underperform stock rating from some analysts. The average analyst price target stands at $29.80, implying a potential upside of over 2000% from the current stock price near $1.39, though price targets vary widely and brokerage consensus is a hold. BioXcel is focused on executing strategic initiatives, including advancing clinical trials for its investigational drug BXCL501, aiming to support potential label expansion and sustainable value creation. The company's continued listing is contingent upon meeting interim conditions and fulfilling compliance requirements by the deadline. While optimistic about its plans, the company acknowledges the risk that it may not meet Nasdaq's requirements and could face delisting if it fails to comply.