HARTFORD, Conn., March 23, 2026 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP announces that the United States District Court for the District of Connecticut has approved the following announcement of a proposed class action settlement that would benefit purchasers of BioXcel Therapeutics, Inc. securities (NASDAQ: BTAI):

SUMMARY NOTICE

TO: ALL PERSONS OR ENTITIES WHO PURCHASED OR ACQUIRED BIOXCEL THERAPEUTICS, INC. SECURITIES FROM MARCH 9, 2023 THROUGH JUNE 28, 2023, BOTH DATES INCLUSIVE.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure, that a hearing will be held on September 2, 2026, at 10:30 a.m., before the Honorable Sarala V. Nagala, United States District Court Judge, in Courtroom 1 at the United States District Court for the District of Connecticut, 450 Main Street, Hartford, Connecticut 06103, for the purpose of determining, among other things: (1) whether the proposed Settlement of the claims in the Litigation for the sum of $9,750,000.00 in cash should be approved by the Court as fair, reasonable, and adequate to the Members of the Settlement Class; (2) whether, thereafter, the Litigation should be dismissed with prejudice as set forth in the Stipulation of Settlement dated February 27, 2026 (“Stipulation”); (3) whether the Plan of Allocation is fair, reasonable and adequate and therefore should be approved; and (4) whether the application of Lead Counsel for the payment of attorneys’ fees and reimbursement of expenses incurred in connection with the Litigation and awards to the Plaintiffs should be approved.

If you purchased BioXcel securities between March 9, 2023 and June 28, 2023, both dates inclusive, your rights may be affected by the settlement of this Litigation. If you have not received the detailed Notice of Pendency and Proposed Settlement of Class Action (the “Notice”) and a copy of the Proof of Claim and Release Form (the “Proof of Claim”), you may obtain them free of charge by contacting the Claims Administrator by mail at: Hills et al. v. BioXcel Therapeutics, Inc., et al., c/o Strategic Claims Services, 600 N. Jackson St., Suite 205, Media, PA 19063; toll-free at (866) 274-4004; by email at info@strategicclaims.net; or by visiting the website www.BioXcelSecuritiesSettlement.com.

If you are a member of the Settlement Class and wish to share in the distribution of the Settlement Fund, you must submit a Proof of Claim no later than June 30, 2026, establishing that you are entitled to recovery. As further described in the Notice, you will be bound by any Judgment entered in the Litigation, regardless of whether you submit a Proof of Claim and Release, unless you exclude yourself from the Settlement Class, in accordance with the procedures set forth in the Notice, no later than August 5, 2026. Any objections to the Settlement, Plan of Allocation, or attorneys’ fees and expenses must be filed and served, in accordance with the procedures set forth in the Notice, no later than August 5, 2026.

Inquiries, other than requests for the Notice, may be made to Lead Counsel for the Settlement Class: Adam M. Apton, Esq., Levi & Korsinsky, LLP, 33 Whitehall Street, 27th Floor, New York, NY 10004, aapton@zlk.com or Abe Alexander, 485 Lexington Avenue, New York, NY 10017, aalexander@gelaw.com.

INQUIRIES SHOULD NOT BE DIRECTED TO THE COURT, THE CLERK’S OFFICE, THE DEFENDANTS, OR DEFENDANTS’ COUNSEL.

If you have any questions about the Settlement, you may contact Lead Counsel at the address listed above.