(Reuters) – BioXcel Therapeutics Inc said on Monday it will reduce its workforce to 80 employees from about 190, as the drugmaker shifts its focus to treatments for agitation.
The company said it will prioritize development of its drug BXCL501, being evaluated for use in at-home settings for treatment of agitation related to schizophrenia, bipolar disorders and in patients with mild-to-moderate dementia due to probable Alzheimer’s disease.
Shares of the company were halted during premarket trading.
(Reporting by Sriparna Roy in Bengaluru; Editing by Krishna Chandra Eluri)
