BioXcel Therapeutics, Inc. (NASDAQ: BTAI)

This lawsuit is for anyone who acquired securities in BioXcel Therapeutics, Inc. (NASDAQ: BTAI) from December 15, 2021 through June 28, 2023.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, through the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company had sufficient controls over its clinical testing of its Alzheimer’s drug, BXCL501, such that the FDA would accept the results when, in fact, the Company was running the trial so poorly that the FDA would not accept results and the trial would only delay possible FDA approval.

On June 29, 2023, BioXcel disclosed that it is conducting an investigation into protocol adherence and data integrity at the principal investigator’s trial site in connection with the Company’s TRANQUILITY II clinical trial. BioXcel warned that developments relating to its TRANQUILITY II Phase 3 trial may also “impact the timing of the Company’s development plans for, and prospects for regulatory approval” of its Alzheimer’s drug, BXCL501. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in BioXcel Therapeutics, Inc. (NASDAQ: BTAI) from December 15, 2021 through June 28, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.