BioXcel Therapeutics files for Chapter 11, agrees to sell assets to Teva in 363 process - BTAI News | RalliesBioXcel Therapeutics files for Chapter 11, agrees to sell assets to Teva in 363 process
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BTAI• Chapter 11 filing and asset sale process
- BioXcel Therapeutics entered voluntary Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware to run a court-supervised asset sale.
- Teva signed an asset sale agreement to act as stalking-horse bidder for substantially all assets, including IGALMI and a pending BXCL501 sNDA.
- The company secured a USD 19 million debtor-in-possession financing commitment from existing secured lenders to fund operations during the process.
- IGALMI remains commercially available; supply and patient support are expected to continue in the ordinary course.
- The BXCL501 sNDA for potential at-home use has a PDUFA date of Nov. 14, 2026.
