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BioXcel Therapeutics launches $19M stock offering to fund research

BioXcel Therapeutics Inc. plans to raise $19 million through a common stock offering.

The New Haven, Conn.-based biopharmaceutical company plans to use net proceeds for general corporate purposes, including development and commercialization of its products, research and development, licensing and technology acquisitions, working capital and capital expenditures.

BioXcel plans to give underwriters a 30-day option to purchase up to an additional 15% of shares sold in the offering.

BMO Capital Markets Corp. is acting as book-running manager, while ThinkEquity is co-manager for the offering.