Why BioXcel Therapeutics Stock Is Surging Today

BioXcel Therapeutics Inc BTAI shares are trading higher Wednesday after the company announced that the U.S. Food and Drug Administration approved IGALMI (dexmedetomidine) sublingual film for the acute treatment of agitation associated with schizophrenia or bipolar I or II disorder in adults.

IGALMI is the first new acute treatment for schizophrenia or bipolar disorder-associated agitation in nearly a decade. It can be self-administrated by patients under the supervision of a healthcare provider. 

BioXcel said it expects to launch IGALMI in the U.S. in the second quarter.

BioXcel is a biopharmaceutical company utilizing artificial intelligence approaches to identify and develop transformative medicines in neuroscience and immuno-oncology.

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BTAI 52-Week Range: $14.32 - $38.99

The stock was up 16.9% at $23.16 at press time, according to data from Benzinga Pro.

Photo: jarmoluk from Pixabay.