BioXcel Therapeutics to be Acquired by Kindred Biosciences Affiliate
Ticker: BTAI · Form: 8-K · Filed: Sep 9, 2024 · CIK: 1720893
Sentiment: neutral
Topics: acquisition, merger, biotech
Related Tickers: KNDX
TL;DR
BioXcel is getting bought by Kindred Biosciences. Deal expected Q4 2024.
AI Summary
BioXcel Therapeutics, Inc. announced on September 5, 2024, that it has entered into a definitive agreement to be acquired by an affiliate of Kindred Biosciences, Inc. The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions. This acquisition will combine BioXcel's neuroscience pipeline with Kindred's existing business.
Why It Matters
This acquisition signifies a consolidation in the biotechnology sector, potentially impacting the development and availability of BioXcel's neuroscience drug candidates.
Risk Assessment
Risk Level: medium — The acquisition is subject to customary closing conditions, and the integration of the two companies could present challenges.
Key Players & Entities
- BioXcel Therapeutics, Inc. (company) — Registrant
- Kindred Biosciences, Inc. (company) — Acquiring entity's affiliate
- September 5, 2024 (date) — Date of definitive agreement
- fourth quarter of 2024 (date) — Expected closing period
FAQ
What is the nature of the transaction between BioXcel Therapeutics and Kindred Biosciences?
BioXcel Therapeutics, Inc. has entered into a definitive agreement to be acquired by an affiliate of Kindred Biosciences, Inc.
When is the acquisition expected to be completed?
The transaction is expected to close in the fourth quarter of 2024.
What are the conditions for the closing of the acquisition?
The acquisition is subject to customary closing conditions.
What will be combined as a result of this acquisition?
The acquisition will combine BioXcel's neuroscience pipeline with Kindred's existing business.
What is the filing date of this Form 8-K?
This Form 8-K was filed on September 9, 2024, reporting an event on September 5, 2024.
Filing Stats: 399 words · 2 min read · ~1 pages · Grade level 11.7 · Accepted 2024-09-09 16:15:31
Key Financial Figures
- $0.001 B — registered Common Stock, par value $0.001 BTAI The Nasdaq Capital Market Indic
Filing Documents
- tm2423619d1_8k.htm (8-K) — 24KB
- 0001104659-24-098149.txt ( ) — 191KB
- btai-20240905.xsd (EX-101.SCH) — 3KB
- btai-20240905_lab.xml (EX-101.LAB) — 33KB
- btai-20240905_pre.xml (EX-101.PRE) — 22KB
- tm2423619d1_8k_htm.xml (XML) — 3KB
01
Item 8.01. Other Events. On September 5, 2024, BioXcel Therapeutics, Inc. (the "Company") submitted to the U.S. Food and Drug Administration (FDA) the Company's proposed protocol for its TRANQUILITY In-Care pivotal Phase 3 trial designed to evaluate the efficacy and safety of a 60 mcg dose of BXCL501 for agitation associated with Alzheimer's dementia.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: September 9, 2024 BIOXCEL THERAPEUTICS, INC. /s/ Javier Rodriguez Javier Rodriguez SVP, Chief Legal Officer