BioXcel, a biotech company which uses AI to develop neurological medicines, and its top officers and directors were named in a shareholder derivative lawsuit on Jan. 2 in Connecticut District Court. The suit pertains to the company's clinical trials for BXCL501, a formula intended to treat agitation associated with dementia, schizophrenia and bipolar disorder. According to the complaint, the principal investigator involved with the trials failed to abide by study protocols and may have provided fabricated emails during an FDA inspection. The suit was brought by Moore Law and Squitieri & Fearon on behalf of Maria Vomvolakis. Counsel have not yet appeared for the defendants. The case is 3:24-cv-00003, Vomvolakis v. Mehta et al.
Biotech & Pharmaceuticals
January 02, 2024, 4:40 PM