BioXcel Therapeutics Stock Drops 19% Despite Positive SERENITY At-Home Trial Results

(RTTNews) - BioXcel Therapeutics, Inc. (BTAI) fell 19.27 percent to $4.23, losing $.00 on Wednesday, even after announcing that its SERENITY At-Home Phase 3 trial met the primary endpoint for BXCL501, a sublingual film designed to treat agitation in patients with bipolar disorders or schizophrenia outside clinical settings. The company said the data will support a supplemental new drug application for IGALMI in the at-home setting, expected in the first quarter of 2026. The stock opened at $4.92 and traded between $4.24 and $5.19 during the session, compared with a prior close of $5.24 on the Nasdaq. Trading volume spiked to 28.8 million shares, well above the average of 8.4 million. BioXcel shares are trading above their 52-week low of $1.17 but remain far below their 52-week high of $13.36.