Why BioXcel Therapeutics Is Down Sharply This Week
Shares of BioXcel (NASDAQ: BTAI), a pre-commercial stage biopharmaceutical company, are under pressure this week. A double downgrade from Goldman Sachs analyst Corinne Jenkins from buy to sell has investors thinking twice about a potential new drug launch that could begin in early 2022. From the market's close last Friday through 9:32 a.m. ET today, the stock is down 27.3%.
The Food and Drug Administration (FDA) is currently reviewing a new drug application for BioXcel's lead candidate, BXCL501 for acute treatment associated with schizophrenia and bipolar disorders. The agency is expected to announce an approval decision on or before Jan. 5, 2022.
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Source Fool.com