BioXcel rises as trial starts for its stress disorder drug in trauma victims

Shares of biotech firm BioXcel Therapeutics BTAI.O rise 11.9% to $1.22 premarket

Co says it has begun enrolling patients in a trial of BXCL501 for acute stress reactions, a short‑term mental health condition that can include anxiety, sleep trouble and pain after traumatic events

Says the drug is being tested in 100 people soon after incidents such as car crashes, with the goal of calming stress symptoms and preventing longer‑term mental health problems

Adds the study is led by the University of North Carolina at Chapel Hill and is funded by the U.S. government, while BioXcel supplies the drug

Says there are currently no recommended medicines for acute stress reactions, and positive results could support use of drugs in urgent cases

As of last close, stock down ~32% YTD