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BioXcel Therapeutics Balance Sheet 2025-2011 | BTAI
Brief overview of BioXcel Therapeutics's balance sheet strength
The balance sheet is assessed across five available annual reports spanning 2019 to 2023.
Assets advanced +102.5% to $73.7 million from $36.4 million; annual growth near 19.3% reflects a fast increase in scale.
Liabilities grew faster than assets: +1,271.1% versus +102.5%. A substantial part of expansion was externally funded.
The period ended with negative equity, a structure associated with elevated financial vulnerability.
Cash accounts for 88.5% of assets versus 89.1% initially. The change indicates the degree of financial flexibility.
The balance sheet carries negative retained earnings of -$590.6 million. The figure may result from accumulated losses or an active capital return policy.
Overall assessment
BioXcel Therapeutics has limited balance sheet resilience and depends heavily on cash generation and refinancing capacity.
Annual Balance Sheet BioXcel Therapeutics
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
56.3 M | 73 M | 35.7 M | -100 M | -232 M | -212 M | -31.4 M | -42.6 M | -516 K | - | - | - | - | - | - |
Long Term Debt |
84.7 M | 103 M | 101 M | 93.1 M | 1.1 M | - | - | - | - | - | - | - | - | - | - |
Long Term Debt Current |
65 K | 374 K | 346 K | 319 K | - | 237 K | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | 1.4 M | 1.03 M | - | - | - | - | - | - | - | - |
Total Current Liabilities |
53.9 M | 22.2 M | 27.3 M | 32.9 M | 16.7 M | 11.8 M | 8.47 M | 4.66 M | - | - | - | - | - | - | - |
Total Liabilities |
140 M | 131 M | 130 M | 129 M | 17.8 M | 13.2 M | 9.5 M | 4.66 M | 2.34 M | 331 K | - | - | - | - | - |
Retained Earnings |
-720 M | -650 M | -591 M | -412 M | -246 M | -139 M | -56.7 M | -23.7 M | -4.45 M | - | - | - | - | - | - |
Total Assets |
44.9 M | 38.3 M | 73.7 M | 206 M | 239 M | 220 M | 36.4 M | 43.5 M | 1.36 M | 7 K | - | - | - | - | - |
Cash and Cash Equivalents |
28.4 M | 29.9 M | 65.2 M | 194 M | 233 M | 213 M | 32.4 M | 42.6 M | 887 K | - | - | - | - | - | - |
Book Value |
-95.5 M | -93.1 M | -56.5 M | 76.8 M | 222 M | 207 M | 26.9 M | 38.9 M | -982 K | -324 K | - | - | - | - | - |
Total Shareholders Equity |
-95.5 M | -93.1 M | -56.5 M | 76.8 M | 222 M | 207 M | 26.9 M | 38.9 M | -982 K | - | - | - | - | - | - |
All numbers in USD currency
Quarterly Balance Sheet BioXcel Therapeutics
| 2026-Q1 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
77.9 M | 92.3 M | 97.5 M | 99.9 M | 103 M | 104 M | 103 M | 102 M | 101 M | 99.1 M | 96.8 M | - | 93.1 M | 91.7 M | 61.1 M | 1.03 M | 1.1 M | 1.18 M | 1.26 M | 1.33 M | 1.4 M | 1.4 M | 1.4 M | 1.4 M | 1.03 M | 1.03 M | 1.03 M | 1.03 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
140 M | 134 M | 133 M | 129 M | 131 M | 135 M | 140 M | 155 M | 130 M | 141 M | 134 M | - | 129 M | 118 M | 84 M | 17 M | 17.8 M | 15.8 M | 13.7 M | 13.7 M | 13.2 M | 13.2 M | 13.2 M | 13.2 M | 9.5 M | 9.5 M | 9.5 M | 9.5 M | 4.66 M | 4.66 M | 4.66 M | 4.66 M | 2.34 M | 2.34 M | 2.34 M | 2.34 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
-733 M | -708 M | -677 M | -657 M | -650 M | -639 M | -626 M | -617 M | -591 M | -568 M | -518 M | - | -412 M | -357 M | -315 M | -277 M | -246 M | -220 M | -193 M | -165 M | -139 M | -139 M | -139 M | -139 M | -56.7 M | -56.7 M | -56.7 M | -56.7 M | -23.7 M | -23.7 M | -23.7 M | -23.7 M | -4.45 M | -4.45 M | -4.45 M | -4.45 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
34 M | 44.8 M | 25.8 M | 38.6 M | 38.3 M | 48.9 M | 65.4 M | 82.3 M | 73.7 M | 100 M | 140 M | - | 206 M | 245 M | 248 M | 211 M | 239 M | 261 M | 281 M | 200 M | 220 M | 220 M | 220 M | 220 M | 36.4 M | 36.4 M | 36.4 M | 36.4 M | 43.5 M | 43.5 M | 43.5 M | 43.5 M | 1.36 M | 1.36 M | 1.36 M | 1.36 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
17.2 M | 36.2 M | 17.4 M | 31 M | 29.9 M | 40.4 M | 56.3 M | 74.1 M | 65.2 M | 90 M | 128 M | - | 194 M | 232 M | 233 M | 200 M | 233 M | 253 M | 273 M | 194 M | 213 M | 213 M | 213 M | 213 M | 32.4 M | 32.4 M | 32.4 M | 32.4 M | 42.6 M | 42.6 M | 42.6 M | 42.6 M | 887 K | 887 K | 887 K | 887 K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
-106 M | -88.9 M | -108 M | -90.2 M | -93.1 M | -85.6 M | -74.3 M | -72.4 M | -56.5 M | -40.6 M | 5.86 M | - | 76.8 M | 127 M | 164 M | 194 M | 222 M | 246 M | 267 M | 187 M | 207 M | 207 M | 207 M | 207 M | 26.9 M | 26.9 M | 26.9 M | 26.9 M | 38.9 M | 38.9 M | 38.9 M | 38.9 M | -982 K | -982 K | -982 K | -982 K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
-106 M | -88.9 M | -108 M | -90.2 M | -93.1 M | -85.6 M | -74.3 M | -72.4 M | -56.5 M | -40.6 M | 5.86 M | 53 M | 76.8 M | 127 M | 164 M | 194 M | 222 M | 246 M | 267 M | 187 M | 207 M | 207 M | 207 M | 207 M | 26.9 M | 26.9 M | 26.9 M | 26.9 M | 38.9 M | 38.9 M | 38.9 M | 38.9 M | -982 K | -982 K | -982 K | -982 K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
Balance Sheet is a fundamental financial report of BioXcel Therapeutics, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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