Institutional buying in late April lifted BTAI daily turnover by 45%, a sign some funds may be positioning ahead of expected mid-year catalysts. Shareholders would probably be interested to learn that insiders own shares in BioXcel Therapeutics, Inc.. It has a market capitalization of just US$136m, and insiders have US$1.4m worth of shares, in their own names. It is good to see some investment by insiders, but we usually like to see higher insider holdings. It might be worth checking if those insiders have been buying. On August 14, 2025, BioXcel Therapeutics received positive preliminary comments from the FDA regarding their upcoming pre-sNDA meeting scheduled for August 20, 2025. This meeting aims to align the company and FDA on the format and content of BioXcelâs planned sNDA submission, which includes clinical, nonclinical, and CMC requirements, potentially impacting the companyâs regulatory strategy and market positioning. BTAI stock forecast sentiment improved slightly after management reiterated guidance on operating expenses. Investors are watching burn rate closely as a key financial health indicator.