BioXcel Therapeutics announced the commencement of an underwritten public offering of its common stock and accompanying warrants. The offering includes an option for certain investors to purchase pre-funded warrants instead of common stock. This move is subject to market and other conditions, with no assurance on the final size or terms.
The company intends to use the net proceeds from this offering to fund its SERENITY At-Home trial, prepare for the initiation of the TRANQUILITY In-Care trial, and for general working capital and corporate purposes. This financing is crucial for advancing its lead neuroscience asset, BXCL501, in pivotal clinical programs.
The securities are being offered pursuant to a shelf registration statement on Form S-3, which became effective on November 13, 2023. Canaccord Genuity is acting as the sole book-running manager for the proposed offering.
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