BioXcel Therapeutics, Inc. (BTAI) Reports Q2 Loss, Lags Revenue Estimates

Core Insights - BioXcel Therapeutics, Inc. reported a quarterly loss of $2.45 per share, which was worse than the Zacks Consensus Estimate of a loss of $2.3, but an improvement from a loss of $3.36 per share a year ago, indicating a year-over-year improvement in losses [1] - The company posted revenues of $0.12 million for the quarter, missing the Zacks Consensus Estimate by 52% and down from $1.1 million in the same quarter last year [2] - The stock has underperformed the market with a gain of about 7% since the beginning of the year, compared to the S&P 500's gain of 8.4% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$2.57 on revenues of $0.3 million, and for the current fiscal year, it is -$8.60 on revenues of $1.07 million [7] - The estimate revisions trend for BioXcel Therapeutics was favorable ahead of the earnings release, resulting in a Zacks Rank 2 (Buy) for the stock, suggesting it is expected to outperform the market in the near future [6] Industry Context - The Medical - Biomedical and Genetics industry, to which BioXcel Therapeutics belongs, is currently ranked in the bottom 43% of over 250 Zacks industries, indicating potential challenges for stocks in this sector [8]