What is BTAI's dilution risk score?

BTAI has a latest available DilutionScore record of 65/100, categorized as high dilution risk by the DilutionWatch scoring model. DilutionWatch displays SEC filing and dilution indicators for BTAI, including shelf registrations, ATM offerings, warrant exercises, PIPE deals, and reverse split signals when detected in source data.

What SEC filings does DilutionWatch track for BTAI?

DilutionWatch tracks 25 SEC filing types for BTAI including S-3 shelf registrations, 424B prospectuses (ATM offerings), S-1 registration statements, 8-K material events, warrant exercise notices, convertible note agreements, and Form 4 insider transactions. Alerts are delivered via email within minutes of a filing appearing on EDGAR.

How does stock dilution affect BTAI shareholders?

Stock dilution occurs when a company issues new shares, reducing the ownership percentage of existing shareholders. For BTAI, common dilution events include at-the-market (ATM) stock offerings, shelf registration drawdowns, warrant exercises, and convertible note conversions. Each event increases the share count and can pressure the stock price lower.

Is DilutionWatch free for BTAI tracking?

DilutionWatch provides a free tier that shows DilutionScores and basic filing history for BTAI. Premium plans ($19.95/month Basic, $39.95/month Premium) unlock real-time email alerts, the full Pulse™ feed, advanced dilution forecasts, and access to all 10,000+ tracked tickers.

BTAI Dilution Risk Score: 65/100 (HIGH)

Score Breakdown

📋 Offering Ability

💰 Cash Runway

📊 Float Risk

⚠️ Warrant Exposure

🔄 Convertible Debt

Dilution Forecast

⛈️

Warning

High probability of dilution event

model est. 58%

💰 Capital Raise model 73%

• Critical: only 1.6 months cash remaining

• Active ATM program with $62M remaining capacity

🔄 Reverse Split model est. 45%

• 50-day avg $1.20 approaching $1 threshold

• Only 2 months cash — financial pressure

📜 Warrant Exercise model 40%

• Significant warrants: 25% of shares outstanding

• Elevated warrant risk score (70/100)

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Market Data

Market Cap$2.32M

Shares Outstanding31.31M

Float26.40M

Cash$12.84M

Debt$104.45M

Short InterestN/A

Source-Backed Evidence Depth

This public preview uses stored DilutionWatch fields and linked SEC/market records only. Missing values are not estimated.

Field	Current Value	Basis
DilutionScore	65/100	DilutionWatch score record
Shares Outstanding	31.31M	Verified float table or market cache
Public Float	26.40M	Verified float table or market cache
Market Cap	$2.32M	Market data cache
Cash Runway	1.6 months	DilutionWatch score inputs
Shelf Capacity	None in current score inputs	SEC-derived dilution fields
ATM Capacity	$62.50M	SEC-derived dilution fields
Outstanding Warrants	7.86M	SEC-derived dilution fields

Recent source-backed SEC insight records available on this page: 6.

Recent SEC source mix: 4 4, 424B5 1, XBRL 1.

The page does not infer future share issuance, financing probability, cash needs, management intent, or price impact when source fields are absent.

Institutional Holdings

QoQ: ↑ 73.9% shares (2026Q1 vs prior)

41 institutional holders · 6.18M shares

#1 MILLENNIUM MANAGEMENT LLC 1.94M shares

#2 ARMISTICE CAPITAL, LLC 1.91M shares

#3 OAKTREE CAPITAL MANAGEMENT LP 723.6K shares

+ 17 more holders Sign up free to view →

Institutional holder totals are aggregated from ownership filings and may use a different share basis or reporting date than public float. They are not a reconciliation against tradeable float.

Short Interest

Short Interest6.12M

Days to Cover1.0

% of Float23.2%

FINRA data as of Aug 31, 2026

Recent SEC Activity

xbrl XBRL WARRANT 2026-08-13

4 INSIDER TRANSACTION 2026-03-16

Full SEC filing analysis available with free account →

Recent News

No recent news available for this ticker.

Factual BTAI Dilution Snapshot

BioXcel Therapeutics, Inc. (BTAI) has a DilutionScore of 65/100, rated High dilution risk. Score date: October 13, 2026.

Stored ATM program remaining capacity: $62.5M.
Stored outstanding warrants: 7.9M.
Recent SEC activity tracked for BTAI: xbrl on 2026-08-13; 4 on 2026-03-16; 4 on 2026-03-16.

This automatically generated snapshot is assembled from stored DilutionWatch data fields and may contain data-source errors or omissions. It is not financial advice, not investment research, and not a recommendation. Do your own research and review the full disclaimer and terms of service.

DilutionScore History — Last 90 Days

BTAI's DilutionScore is currently 65/100 (High risk), with 1 score change tracked over 89 days. The score deteriorated from 72/100 (High risk).

Period	Score	Risk Level	Duration
Aug 14 – Oct 13, 2026	65/100	HIGH	60 days
Jul 16 – Aug 13, 2026	72/100	HIGH	29 days

Score recalculated daily from SEC filings and market data. Sign up free for real-time score change alerts.

Share Dilution History

BTAI shares outstanding have increased 41.2% from 21.87M (Mar 2026) to 30.88M (May 2026). Each increase represents potential dilution to existing shareholders.

Date	Shares Outstanding	Public Float	Change
May 25, 2026	30.88M	26.40M	▲ 2.29%
May 23, 2026	30.88M	25.81M	▼ 8.16%
May 17, 2026	27.07M	28.11M	▲ 14.05%
May 09, 2026	27.07M	24.64M	▼ 0.11%
Apr 01, 2026	24.35M	24.67M	▲ 1.10%
Mar 31, 2026	24.35M	24.40M	▲ 23.80%
Mar 17, 2026	21.87M	19.71M	▼ 1.00%
Mar 14, 2026	21.87M	19.91M	▲ 2.28%

Share counts sourced from verified regulatory filings. Increases indicate dilution events.

Track BTAI Dilution Risk in Real-Time

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