What specific details in the May 12, 2025, Q1 filing explain the significant drop in IGALMI® revenue?

In its Q1 2025 filing, BioXcel Therapeutics, Inc. reported a significant drop in net revenue for IGALMI®. The company's net revenue from IGALMI® was $168,000 for the first quarter of 2025, a substantial decrease compared to $582,000 for the same period in 2024.1

The filing indicates that this reduction is primarily due to the company's strategic decision to operate with "minimal commercial resources" for IGALMI®. BioXcel Therapeutics stated that it is "continuing to supply IGALMI® to patients and providers, and build brand awareness, with minimal commercial resources."1 This suggests a deliberate scaling back of commercial efforts, which directly impacted revenue generation.

For further analysis of BioXcel Therapeutics' financial performance and regulatory filings, you can explore their detailed reports on the Fintel platform.