BioXcel Intends To Reduce More Than 50% Of Its Cash Burn To Approximately $80M On Go-forward Annualized Basis
Portfolio Pulse from Benzinga Newsdesk
BioXcel Therapeutics (BTAI) plans to reduce its cash burn by more than 50% to approximately $80 million on an annualized basis going forward.
August 14, 2023 | 11:07 am
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POSITIVE IMPACT
BioXcel Therapeutics' decision to reduce its cash burn could improve its financial stability and potentially attract investors.
Reducing cash burn is a positive move for any company as it indicates improved financial management. This could make the company more attractive to investors, potentially leading to an increase in the stock price.
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