BioXcel Stock Plunges: Chapter 11 Filing Triggers Teva Stalking Horse Bid
BioXcel Chapter 11 sends BTAI shares sharply lower as Teva becomes the stalking horse bidder for IGALMI and BXCL501 assets.
BioXcel ran into money trouble and had to file for bankruptcy (Chapter 11), so their stock price dropped a lot. Teva is stepping in to try to buy some of BioXcel's medicines, which shows how companies can get a second chance even when they struggle.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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