BioXcel Therapeutics Inc. Common Stock (BTAI)

FairStock Score: 14/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach this as a Graham-style value investor: I want a durable business, honest financials, and a margin of safety. BioXcel has an approved product, IGALMI, and a neuroscience candidate, BXCL501, but the numbers do not yet show a business with a moat. At the close on 2026-10-08, the stock was $0.05 and the market capitalization was $30.3 million. That is small, but the fundamentals are smaller. In the latest reported quarter, fiscal Q2 2026, revenue was only $182,000 while net income was -$14.7 million, a margin of -8,084.07%. The trailing twelve-month free cash flow was -$50.9 million, and FairStock's calculated FCF yield was -167.9% - the company burns more cash than its entire market value. FairStock's other calculations reinforce the danger: a P/E of -0.02, ROCE of -102.43%, Piotroski F-Score of 3/9, Altman Z-Score of -41.89, and an overall FairStock Score of 14/100. The Lynch category is none because the data show only 0 years of filed annual results, versus the 3 needed. A 29-person workforce and an approved sublingual film may offer optionality, but current revenue is negligible and there is no visible competitive protection. The balance-sheet ratios provided are N/A, yet negative cash flow and a deeply negative Altman score suggest financing risk. Mr. Market may be pricing this at a speculative stub, not as a bargain. Without a path to self-funding and real commercial traction, this does not meet my standard for a value investment. I would watch revenue, cash burn, and financing terms, not the low share price alone.

In plain English: BioXcel Therapeutics is a small drug company with an approved medicine for agitation and another treatment in development. The business looks very weak right now: in its latest quarter it earned only $182,000 in revenue while losing $14.7 million, and it is burning much more cash than its $30.3 million market value. At 5 cents a share, the price is not supported by current profits or cash flow; it looks like a speculative bet on future drug sales rather than a cheap business.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-08 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer