Why Are BioXcel Therapeutics Shares Plummeting Today
Portfolio Pulse from Vandana Singh
BioXcel Therapeutics Inc's shares have plummeted following the release of topline results for TRANQUILITY II, a Phase 3 trial of BXCL501 for the acute treatment of Alzheimer's disease-related agitation. The trial met its primary efficacy endpoint with the 60 mcg dose, but did not meet the other secondary endpoint of change from baseline in PEC score at 30 minutes. The company plans to develop a path to potential supplemental submission for the acute treatment of agitation associated with Alzheimer's disease in H2 2023.
June 29, 2023 | 2:16 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
BioXcel Therapeutics' stock price has dropped significantly due to mixed results from their Phase 3 trial of BXCL501.
The company's stock price has dropped due to the mixed results from their Phase 3 trial of BXCL501. While the trial met its primary efficacy endpoint with the 60 mcg dose, it did not meet the other secondary endpoint of change from baseline in PEC score at 30 minutes. This has likely led to uncertainty among investors about the future prospects of the drug, leading to a sell-off of the company's shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100