BioXcel TherapeuticsNASDAQ: BTAI

BioXcel Therapeutics (NASDAQ: BTAI ) stock is taking a beating on Friday after the commercial-stage biopharmaceutical company announced a proposed underwritten public offering for its shares. This public offering includes $60 million shares of BTAI stock.

BioXcel Therapeutics Inc (NASDAQ:BTAI) shares fell almost 35% after it reported a revenue miss and greater than forecast loss for the third quarter. The New Haven, Connecticut-based biopharmaceutical company reported sales of $341,000, up from $137,000 in the year-ago quarter but below estimates of $840,000.

Trading penny stocks can be a risky endeavor, but having access to quality news and information can help mitigate some of that risk. As an investor or trader, it's critical to understand how news events can impact penny stocks and how to use news to your advantage when developing your trading strategy.

Penny stocks are defined as stocks trading for under $5. They typically include start-up or emerging-growth stage companies starting from the grassroots.

BioXcel Therapeutics (NASDAQ: BTAI ) stock is rocketing higher on Wednesday after the biopharmaceutical company announced results from an audit of its Tranquility II clinical trial. According to a press release from the company, a third-party audit of its Phase 3 study returned positive results.

Shares of BioXcel Therapeutics Inc. BTAI, +0.86% jumped more than 40% premarket on Wednesday after the company said an independent audit of Alzheimer's trial data found no issues impacting the data's integrity and reliability.

The company has one marketed treatment -- Igalmi, which reduces agitation in patients with bipolar disorder or schizophrenia. The most advanced candidate in BioXcel's pipeline is BXCL501, which aims to reduce agitation in dementia patients.

The biotech takes another hit following its earnings release on Monday. Several analysts became notably more bullish on its prospects.

BioXcel Therapeutics (NASDAQ: BTAI ) stock is taking a beating on Monday after the biopharmaceutical company announced layoffs. This has BioXcel Therapeutics cutting over 50% of its workforce.