BioXcel Therapeutics, Inc. - Special Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Guyn Kim - BMO Capital Markets Equity Research - Analyst : First, I was wondering if you observed any differences in PK/PD between the Alzheimer's and schizophrenia patients and if there were certain factors like patient weight that determined inter-patient variability in the Alzheimer's study.

Question: Guyn Kim - BMO Capital Markets Equity Research - Analyst : Great. And just to follow up, where there any common underlying characteristics for the 3 nonresponders that were treated with 501?

Question: Sumant Satchidanand Kulkarni - Canaccord Genuity Limited, Research Division - Analyst : I'm sorry if I missed this, but did you say what the baseline RASS characteristics were for patients in the Alzheimer's study and the schizophrenia study?

Question: Sumant Satchidanand Kulkarni - Canaccord Genuity Limited, Research Division - Analyst : And it looks like it took a longer time to achieve RASS of minus 1 in the AD versus schizophrenia treatment groups. Is that simply a function of dosing? Or is it something else? And given [sedative] effect, could you comment on that? Could you comment on the sedative effects, please, in 80 patients? Because in schizophrenia you showed that the effect lasted 1.5 to 2 hours. What was considered clinically relevant for Alzheimer's in that case?

Question: Sumant Satchidanand Kulkarni - Canaccord Genuity Limited, Research Division - Analyst : Yes, it does. My last question is at what point as a company do you think it would be optimal to start looking at ex U.S. [licensing] options for 501 as a potential dose of non-dilutive financing? without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies.