BioXcel Therapeutics Full Year 2023 Earnings: Revenues Disappoint
BioXcel Therapeutics (NASDAQ:BTAI) Full Year 2023 Results
Key Financial Results
Net loss: US$179.1m (loss widened by 8.0% from FY 2022).
US$6.15 loss per share (further deteriorated from US$5.92 loss in FY 2022).
BTAI Products In Clinical Trials
Phase I: 2.
Phase III: 2.
All figures shown in the chart above are for the trailing 12 month (TTM) period
BioXcel Therapeutics Revenues Disappoint
Revenue missed analyst estimates by 19%. Earnings per share (EPS) was mostly in line with analyst estimates.
In the last 12 months, the only revenue segment was Pharmaceuticals contributing US$1.38m. Notably, cost of sales worth US$1.26m amounted to 91% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Research & Development (R&D) costs, amounting to US$84.3m (47% of total expenses). Explore how BTAI's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 55% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Biotechs industry in the US.
Performance of the American Biotechs industry.
The company's shares are up 4.9% from a week ago.
Risk Analysis
It's necessary to consider the ever-present spectre of investment risk. We've identified 6 warning signs with BioXcel Therapeutics (at least 2 which make us uncomfortable), and understanding them should be part of your investment process.
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