BioXcel Therapeutics, Inc. (BTAI) Form 8-K — Oct 30, 2026
$BTAIForm 8-KItems 2.01, 5.02, 5.03, 9.01Filed Oct 30, 2026, 5:15 PM ET0001104659-26-120737Original filing
BioXcel Therapeutics completed the bankruptcy-court-approved sale of substantially all of its neuroscience assets to Teva on October 26, 2026, closing a Chapter 11 process begun August 27, 2026. Teva paid $57.5 million upfront (net of a $5.75 million credit), and the Debtors may receive up to $67.5 million in development milestones tied to FDA approval of IGALMI for at-home use, plus up to $20 million in commercial milestones.
Key figures
- Deal Value Usd
- 57500000
- Breakup fee
- $5,000,000 if sNDA approved, else $1,150,000
- Director fee
- $5,000 per month for Dr. Mehta as director
- Chapter11 case
- Case No. 26-11360 (TMH), District of Delaware
- Cure costs cap
- $2,500,000
- Deposit credited
- $5.75 million deposit credited against upfront payment
- Commercial milestones
- Up to $20.0 million if sNDA not approved by February 28, 2027 ($10.0M at $250M and $500M annual net sales, by Dec 31, 2035)
- Development milestone
- Up to $67.5 million contingent on FDA approval of IGALMI at-home sNDA
AI analysis
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