BioXcel Soars as Psychiatric Drug Approved With Broad Label (1)

(Updates shares, adds BofA commentary.)

BioXcel Therapeutics gains as much as 24%, the most intraday since July 2020, after winning broad approval for its first drug, a sedative used in patients with schizophrenia or bipolar disorder.

• Truist analyst Robyn Karnauskas says the broad approval -- including in mild-to-moderate as well as geriatric patients -- bodes well for the treatment in the larger dementia market
  • She says the label warning on bradycardia and hypotension was not surprising and while the therapy has to be given by a health-care provider, “it looks like it can be given in multiple settings”
• BofA analyst ...