Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired BioXcel Therapeutics, Inc. (“BioXcel”) (NASDAQ: BTAI) common stock between March 9, 2023 and August 11, 2023, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the company lacked adequate internal controls over protocol adherence and data integrity; (2) as a result, the company’s principal investigator failed to adhere to the informed consent form approved by the Institutional Review Board; (3) the company’s principal investigator failed to maintain adequate case histories for certain patients whose records were reviewed by the FDA; (4) the company’s principal investigator fabricated email correspondence with a pharmacovigilance safety vendor that was then provided to the FDA; (5) the foregoing would negatively impact the company’s ability to obtain regulatory approval of BXCL501 for the treatment of agitation associated with dementia in patients with probable Alzheimer’s disease; and (6) as a result of the foregoing, Defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On September 29, 2025, Lead Plaintiff filed the Third Amended Complaint. This action is ongoing.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.