Jan. 7 at 10:38 PM
$BTAI my thoughts.
Worth separating company value from asset value.
BioXcel’s real value-add is already done: they invented the drug, proved it clinically, aligned with FDA on trial design, Fast Track granted, sNDA nearly submitted. That’s the hard, scarce part.
Commercial rollout is not BTAI’s strength — and big pharma doesn’t need it. What pharma wants is ownership of a de-risked, patent-protected CNS asset with large unmet need (agitation incl. Alzheimer’s/dementia).
At this stage the question for pharma isn’t “what’s BTAI worth today?” — it’s
“Can we afford to let a competitor own this for the next 10–15 years?”
Price action + volume suggest the market is starting to reprice that reality, not just trading noise.
