
BioXcel Therapeutics Inc (NASDAQ:BTAI) shares are trading higher Wednesday after the company announced that the U.S. Food and Drug Administration approved IGALMI (dexmedetomidine) sublingual film for the acute treatment of agitation associated with schizophrenia or bipolar I or II disorder in adults.
IGALMI is the first new acute treatment for schizophrenia or bipolar disorder-associated agitation in nearly a decade. It can be self-administrated by patients under the supervision of a healthcare provider.