Chapter 11 bankruptcy filing plunges BioXcel Therapeutics
Chapter 11 bankruptcy filing plunges BioXcel Therapeutics 57% in premarket
- BioXcel filed for Chapter 11 protection in Delaware court on Aug 27/28 2026 per Reuters and court filings
- Company listed $100-500M in liabilities versus only $10-50M in assets
- Filing follows repeated Oaktree credit agreement amendments with Aug 28 deadline for refinancing or alternative transaction
- BioXcel had explored strategic options including sale or merger since May amid ongoing going-concern doubts
- Recent $1.25M debtor-in-possession financing noted in related SEC filings
- Stock had already declined sharply YTD on financial distress before this catalyst
- Positive sNDA and trial news earlier in 2026 overshadowed by insurmountable debt and cash issues
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