BioXcel Therapeutics Announces Board and Executive Changes
Ticker: BTAI · Form: 8-K · Filed: Jan 16, 2025 · CIK: 1720893
Sentiment: neutral
Topics: management-change, executive-compensation, board-of-directors
TL;DR
BioXcel shakes up board & exec pay - new faces, new terms.
AI Summary
BioXcel Therapeutics, Inc. announced on January 15, 2025, changes in its board of directors and executive compensation arrangements. The filing details the departure of certain officers and directors, the election of new directors, and updates to compensatory plans for key personnel. Specific details regarding the individuals involved and the exact nature of the compensation changes are outlined within the report.
Why It Matters
Changes in leadership and executive compensation can signal shifts in company strategy, financial health, or future direction, impacting investor confidence and stock performance.
Risk Assessment
Risk Level: medium — Changes in board composition and executive compensation can indicate internal restructuring or strategic shifts that may carry inherent risks.
Key Players & Entities
- BioXcel Therapeutics, Inc. (company) — Registrant
- January 15, 2025 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 001-38410 (file_number) — SEC File Number
- 555 Long Wharf Drive, New Haven, CT 06511 (address) — Principal executive offices
FAQ
What specific roles have been affected by the departure of officers or directors?
The filing indicates the departure of certain officers and directors, but the specific roles are detailed within the full report.
Who are the newly elected directors?
The election of new directors is reported, with their identities and backgrounds available in the complete filing.
What are the key changes in the compensatory arrangements for certain officers?
The report details updates to compensatory arrangements for specific officers, the specifics of which are elaborated in the document.
What is the effective date of these reported changes?
The earliest event reported is dated January 15, 2025.
Where is BioXcel Therapeutics, Inc. headquartered?
BioXcel Therapeutics, Inc. is headquartered at 555 Long Wharf Drive, New Haven, CT 06511.
Filing Stats: 786 words · 3 min read · ~3 pages · Grade level 11.9 · Accepted 2025-01-16 08:00:23
Key Financial Figures
- $0.001 B — registered Common Stock, par value $0.001 BTAI The Nasdaq Capital Market Indic
- $0 — common stock, with an exercise price of $0.3465, which award will vest and become
Filing Documents
- tm253320d1_8k.htm (8-K) — 27KB
- 0001104659-25-003950.txt ( ) — 196KB
- btai-20250115.xsd (EX-101.SCH) — 3KB
- btai-20250115_lab.xml (EX-101.LAB) — 33KB
- btai-20250115_pre.xml (EX-101.PRE) — 22KB
- tm253320d1_8k_htm.xml (XML) — 3KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 15, 2025, the Board of Directors (the "Board") of BioXcel Therapeutics, Inc. (the "Company") increased the size of the Board from seven to eight directors. On January 15, 2025, the Board appointed Dr. Rajiv Patni to the Board, effective January 15, 2025. Dr. Patni will serve as a Class II director for a term expiring at the Company's annual meeting of stockholders to be held in 2026 and until his successor is duly elected and qualified or his earlier death, disqualification, resignation or removal. Dr. Patni is a biopharmaceuticals industry veteran with extensive experience in global product development in a diverse set of therapeutic areas, including cardiology, diabetology, hepatology, neurology, and benign hematology. Since September 2024, Dr. Patni has served as the Chief Executive Officer of Judo Bio, a biopharmaceutical development company focused on pioneering oligonucleotide medicines delivered to the kidney. He previously served as Chief Research and Development Officer at Reata Pharmaceuticals, a commercial-stage company acquired by Biogen and he is currently serving as a board member of Quince Therapeutics, Inc. (Nasdaq: QNCX). Previously, Dr. Patni also served as Chief Medical Officer at several public, commercial-stage biopharmaceutical companies – Global Blood Therapeutics, Portola Pharmaceuticals, and Adamas Pharmaceuticals, until their acquisitions by larger companies. Earlier in his career, Dr. Patni held roles of increasing responsibility at Pfizer, Roche, and Actelion. Dr. Patni received his M.D. from the Icahn School of Medicine at Mount Sinai in New York City as part of an accelerated B.S./M.D. program. He completed an internal medicine residency and adult cardiology fellowship at the Albert Einstein College of Medicine, also in New York City, where he continued as an attend
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: January 16, 2025 BIOXCEL THERAPEUTICS, INC. /s/ Javier Rodriguez Javier Rodriguez Chief Legal Officer