BioXcel Therapeutics (BTAI) Balance Sheet: Assets & Liabilities

BioXcel Therapeutics (BTAI) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), BioXcel Therapeutics reported total assets of $44.92M and total liabilities of $140.38M. Shareholders' equity was negative at −$95.46M, meaning liabilities exceed assets. Total debt stood at $109.59M against $28.41M in cash and short-term investments, a net debt position of $81.18M.

BioXcel Therapeutics Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for BioXcel Therapeutics, Inc. (BTAI) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	28.42	29.85	65.22	193.73	232.97	213.12	32.43	42.57	0.89
Cash & Short-Term Investments	28.42	29.85	65.22	193.73	232.97	213.12	32.43	42.57	0.89
Accounts Receivable	0.23	0.13	0.07	0.25	0.00	0.00	0.00	0.12	0.00
Inventory	0.72	0.68	1.99	1.99	0.00	0.00	0.00	0.00	0.00
Other Current Assets	10.95	6.73	2.08	3.84	0.96	2.96	1.68	0.49	0.00
Total Current Assets	44.69	37.39	72.14	202.87	236.81	217.07	34.11	43.17	0.89
Non-Current Assets
Property, Plant & Equipment (Net)	0.23	0.86	1.47	2.06	2.54	2.78	2.23	0.33	0.00
Other Non-Current Assets	0.00	0.09	0.09	0.93	0.09	0.09	0.05	0.05	0.46
Total Non-Current Assets	0.23	0.94	1.56	2.99	2.63	2.87	2.29	0.38	0.47
Total Assets	44.92	38.34	73.70	205.85	239.44	219.94	36.39	43.55	1.36
Current Liabilities
Accounts Payable	14.70	15.99	13.65	10.23	4.68	3.98	4.95	1.60	0.44
Short-Term Debt	24.93	0.75	0.69	0.32	0.29	0.24	0.00	0.00	0.37
Current Portion of Long-Term Debt	24.93	-	-	-	-	-	-	-	-
Accrued Liabilities	4.28	5.76	12.88	15.39	7.22	6.93	-	-	-
Deferred Revenue	0.00	0.00	0.00	0.00	0.00	0.00	-0.16	0.00	0.00
Other Current Liabilities	9.75	0.48	0.35	0.40	0.29	0.24	3.68	3.06	1.52
Total Current Liabilities	53.93	22.23	27.27	32.90	16.67	11.84	8.47	4.66	2.34
Non-Current Liabilities
Long-Term Debt	84.66	102.51	100.60	93.05	1.11	1.40	1.03	0.00	0.00
Other Non-Current Liabilities	1.79	6.63	1.91	2.34	0.00	0.00	0.00	0.00	0.00
Total Non-Current Liabilities	86.45	109.21	102.94	96.18	1.11	1.40	1.03	0.00	0.00
Total Liabilities	140.38	131.44	130.21	129.08	17.77	13.24	9.50	4.66	2.34
Stockholders' Equity
Common Stock	0.08	0.05	0.03	0.03	0.03	0.02	0.02	0.02	0.01
Retained Earnings	-720.09	-650.20	-590.60	-411.55	-245.79	-138.86	-56.69	-23.72	-4.45
Accumulated Other Comprehensive Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.02	0.00
Additional Paid-in Capital	624.56	557.05	534.06	488.29	467.43	345.53	83.57	62.59	3.46
Shares Outstanding	22.33	3.10	1.87	1.76	1.75	-	-	-	-
Total Stockholders' Equity	-95.46	-93.10	-56.51	76.78	221.67	206.70	26.90	38.89	-0.98
Total Liabilities & Equity	44.92	38.34	73.70	205.85	239.44	219.94	36.39	43.55	1.36

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About BioXcel Therapeutics Balance Sheet

How much debt does BioXcel Therapeutics have?

BioXcel Therapeutics had total debt of $109.59M as of Dec 31, 2025, against $28.41M in cash and short-term investments. Total debt was $103.26M a year earlier.

What are BioXcel Therapeutics's total assets?

BioXcel Therapeutics reported total assets of $44.92M as of Dec 31, 2025, up 17.2% from $38.34M a year earlier. Total liabilities were $140.38M.

What is BioXcel Therapeutics's shareholders' equity?

BioXcel Therapeutics's shareholders' equity was negative at −$95.46M as of Dec 31, 2025, so its liabilities exceeded its assets.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition