BioXcel Therapeutics (BTAIQ) Operating Expenses (2017 - 2026)
BioXcel Therapeutics (BTAIQ) recorded Operating Expenses of $10.38 million in Q2 2026, down 35.0% from $15.97 million a year earlier and down 0.5% from the prior quarter.
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Analysis
BioXcel Therapeutics (BTAIQ) Operating Expenses (2017 - 2026) Analysis & Trends
On a TTM basis, BioXcel Therapeutics' Operating Expenses came in at $45.67 million as of Jun 30, 2026, down 13.2% year-over-year; for FY2025, it came in at $51.1 million, down 26.5% from FY2024.
- Annual Operating Expenses has a five-year compound annual growth rate of -9.1% (FY2020 to FY2025).
- Across earlier years, Operating Expenses came in at $69.51 million in FY2024 (-59.9%), $173.16 million in FY2023 (+8.2%), $160.02 million in FY2022 (+49.6%) and $106.94 million in FY2021 (+29.9%).
- The Q2 2026 figure is the lowest quarterly Operating Expenses since Q1 2025.
- On a year-over-year basis, Operating Expenses rose in 1 of the last eight quarters, with an average decline of 28.8%.
- Peak year-over-year performance for Operating Expenses in the last five years was growth of 103.3% in Q4 2022, against a decline of 68.1% in Q3 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at $10.43 million (Q1 2026), $10.54 million (Q4 2025) and $14.33 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,136.97 Bn | 1,105.55 Bn | 19.71 Bn | 7.95 Bn |
| 2 | Johnson & Johnson | 619.72 Bn | 538.25 Bn | 17.26 Bn | 10.12 Bn |
| 3 | AbbVie | 503.40 Bn | 476.52 Bn | 12.70 Bn | 10.56 Bn |
| 4 | Merck | 370.15 Bn | 324.53 Bn | 12.21 Bn | 12.80 Bn |
| 5 | Novartis Ag | 298.64 Bn | 262.63 Bn | 11.24 Bn | 6.09 Bn |
| 6 | Astrazeneca | 261.07 Bn | 234.76 Bn | 12.86 Bn | 9.70 Bn |
| 7 | Amgen | 237.00 Bn | 192.40 Bn | 7.24 Bn | 6.54 Bn |
| 8 | Gilead Sciences | 191.24 Bn | 165.43 Bn | 6.22 Bn | 18.20 Bn |
| 9 | Pfizer | 170.31 Bn | 116.96 Bn | 10.94 Bn | 6.68 Bn |
| 10 | BioXcel Therapeutics | 381,780.00 | -94.23 Mn | 160,000.00 | 10.38 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 10.38 Mn |
| Mar 31, 2026 | 10.43 Mn |
| Dec 31, 2025 | 10.54 Mn |
| Sep 30, 2025 | 14.33 Mn |
| Jun 30, 2025 | 15.97 Mn |
| Mar 31, 2025 | 10.27 Mn |
| Dec 31, 2024 | 10.86 Mn |
| Sep 30, 2024 | 15.51 Mn |
| Jun 30, 2024 | 18.40 Mn |
| Mar 31, 2024 | 24.75 Mn |
| Dec 31, 2023 | 20.25 Mn |
| Sep 30, 2023 | 48.64 Mn |
| Jun 30, 2023 | 52.87 Mn |
| Mar 31, 2023 | 51.40 Mn |
| Dec 31, 2022 | 53.13 Mn |
| Sep 30, 2022 | 39.13 Mn |
| Jun 30, 2022 | 36.29 Mn |
| Mar 31, 2022 | 31.48 Mn |
| Dec 31, 2021 | 26.13 Mn |
| Sep 30, 2021 | 26.81 Mn |
API Access
BioXcel Therapeutics Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=BTAIQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "BTAIQ", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=BTAIQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();