Yesterday, FDA announced its approval of BioXcel Therapeutics, Inc’s (NASDAQ:BTAI) Igalmi (BXCL501). Analysts at Berenberg Bank think continued outperformance in 2022 is likely, particularly as 2022 should be the first year BioXcel transforms from a clinical to a commercial-stage company since its IPO in 2018.

The analysts’ estimates of Igalmi sales are unchanged and continue to call for Igalmi to reach blockbuster status in the U.S. in the 2030- 2031 time frame, driven in part by the label expansion to include additional indications.

Overall, the analysts think the company’s shares are compelling ahead of several potential positive events over the next year, including pipeline study readouts.