NEW HAVEN, Conn., March 11, 2026 (GLOBE NEWSWIRE) -- BioXcel Therapeutics, Inc. (the "Company") (NASDAQ:BTAI), a biopharmaceutical company built on artificial intelligence to develop transformative medicines in neuroscience, today announced the closing of its previously announced registered direct offering of 4,500,785 shares (the "Shares") of common stock, par value $0.001 per share ("Common Stock") (or common stock equivalents in lieu thereof), and accompanying warrants (the "Accompanying Warrants") to purchase up to 4,500,785 shares of Common Stock at a combined offering price of $1.739 per Share (or per common stock equivalent in lieu thereof) and Accompanying Warrant. The Accompanying Warrants have an exercise price of $1.614 per share of Common Stock, are exercisable at any time after the date of issuance, subject to certain ownership limitations, and expire five years from the date of issuance.

The Company also reduced the exercise price of warrants to purchase up to an aggregate of 1,385,083 shares of Common Stock previously issued to and held by the investor to $1.614 per share and extended those warrant expiration dates to the five year anniversary of the closing of the offering. The investor paid approximately $173,000 in exchange for the reduction in exercise price of these warrants.

The transaction resulted in gross proceeds to the Company of approximately $8.0 million before deducting the placement agent's fees and other offering expenses payable by the Company (excluding the proceeds, if any, from the exercise of the Accompanying Warrants).

The closing of the offering occurred on March 11, 2026.

Rodman & Renshaw LLC acted as the exclusive placement agent for the offering.

The securities described above were offered pursuant to a shelf registration statement on Form S‑3 (File No. 333‑275261) that was previously filed with the ...