BioXcel Therapeutics Appoints New CMO, Director
Ticker: BTAI · Form: 8-K · Filed: Oct 9, 2024 · CIK: 1720893
Sentiment: neutral
Topics: executive-appointment, board-election, personnel-change
TL;DR
BioXcel names new CMO, adds a director to the board.
AI Summary
BioXcel Therapeutics, Inc. announced on October 3, 2024, the appointment of Dr. Robert J. Henninger as Chief Medical Officer and the election of Dr. William D. Young to its Board of Directors. The company also disclosed compensatory arrangements for certain officers, though specific financial details were not provided in this filing.
Why It Matters
These executive and board changes could signal a shift in the company's strategic direction or leadership focus, potentially impacting its drug development pipeline and future performance.
Risk Assessment
Risk Level: medium — Changes in key executive and board positions can introduce uncertainty regarding future strategy and operational execution.
Key Players & Entities
- BioXcel Therapeutics, Inc. (company) — Registrant
- Dr. Robert J. Henninger (person) — Appointed Chief Medical Officer
- Dr. William D. Young (person) — Elected to Board of Directors
- October 3, 2024 (date) — Date of earliest event reported
FAQ
Who has been appointed as the new Chief Medical Officer?
Dr. Robert J. Henninger has been appointed as the new Chief Medical Officer.
Who has been elected to the Board of Directors?
Dr. William D. Young has been elected to the Board of Directors.
What is the date of the earliest event reported in this filing?
The date of the earliest event reported is October 3, 2024.
What is the principal executive office address of BioXcel Therapeutics, Inc.?
The principal executive office address is 555 Long Wharf Drive, New Haven, CT 06511.
What is the company's telephone number?
The company's telephone number is (475) 238-6837.
Filing Stats: 746 words · 3 min read · ~2 pages · Grade level 12.2 · Accepted 2024-10-09 16:08:22
Key Financial Figures
- $0.001 B — h registered Common Stock, par value $0.001 BTAI The Nasdaq Capital Market Indic
- $330 — he Separation Date at an hourly rate of $330 plus out-of-pocket expenses. The Consul
Filing Documents
- tm2425903d1_8k.htm (8-K) — 27KB
- tm2425903d1_ex10-1.htm (EX-10.1) — 36KB
- tm2425903d1_ex10-2.htm (EX-10.2) — 62KB
- 0001104659-24-107327.txt ( ) — 321KB
- btai-20241003.xsd (EX-101.SCH) — 3KB
- btai-20241003_lab.xml (EX-101.LAB) — 33KB
- btai-20241003_pre.xml (EX-101.PRE) — 22KB
- tm2425903d1_8k_htm.xml (XML) — 3KB
02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. As previously reported, on September 19, 2024, Matthew Wiley, Senior Vice President and Chief Commercial Officer of BioXcel Therapeutics, Inc. (the " Company "), and the Company agreed that Mr. Wiley would cease his employment with the Company, effective October 2, 2024 (the " Separation Date ") and would serve as a consultant for a period of time thereafter. In connection with Mr. Wiley's separation, on October 3, 2024, the Company entered into a Separation Agreement and General Release (the " Separation Agreement ") with Mr. Wiley pursuant to which Mr. Wiley will be entitled to the severance payments and benefits under his employment agreement with the Company, which include (i) a pro-rated portion of any annual bonus earned for 2024; (ii) base salary continuation for nine months; and (iii) reimbursement for COBRA premium payments for nine months. Mr. Wiley's receipt of the severance payments and benefits is subject to his execution and non-revocation of a release of claims in favor of the Company. In addition, on October 8, 2024, the Company entered into a Consulting Agreement with Commercial Science, LLC, a limited liability company managed by Mr. Wiley (the " Consulting Agreement "), pursuant to which Mr. Wiley will provide consulting and advisory services to the Company following the Separation Date at an hourly rate of $330 plus out-of-pocket expenses. The Consulting Agreement will expire on December 31, 2024, unless earlier terminated pursuant to its terms. The foregoing descriptions of the Separation Agreement and the Consulting Agreement do not purport to be complete and are qualified in their entirety by reference to the full text of the Separation Agreement and the Consulting Agreement, which are attached hereto as Exhibit 10.1 and 10.2, respectively, and incorporated herein by reference.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits: Exhibit No. Description 10.1 Separation Agreement between BioXcel Therapeutics, Inc. and Matthew Wiley, dated October 3, 2024 10.2 Consulting Agreement between BioXcel Therapeutics, Inc. and Matthew Wiley, dated October 8, 2024 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) Annexes, schedules, and certain exhibits have been omitted pursuant to Item 601(a)(5)(b)(2) of Regulation S-K. The Registrant hereby agrees to furnish supplementally a copy of any omitted annex, schedule or exhibit to the SEC upon request
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: October 9, 2024 BIOXCEL THERAPEUTICS, INC. /s/ Richard Steinhart Richard Steinhart Chief Financial Officer