Material Agreement (Form 8-K)

On August 10, 2026, BioXcel Therapeutics, Inc. (the "Company") entered into the Twelfth Amendment to Credit Agreement and Guaranty and First Amendment to Security Agreement (the "Twelfth Amendment"), which amended the Credit Agreement and Guaranty, dated April 19, 2022, as amended (the "Credit Agreement"), by and among the Company, as the borrower, certain subsidiaries of the Company from time to time party thereto as subsidiary guarantors, the lenders party thereto (the "Lenders"), and Oaktree Fund Administration LLC, as administrative agent.

Pursuant to the Twelfth Amendment, the Company is required to, on or prior to August 21, 2026 (extended from August 10, 2026, as was required under the Eleventh Amendment), enter into definitive agreements with respect to one or more transactions acceptable to Lenders that (A) would result in the repayment of all loan and other obligations under the Credit Agreement or (B) is an alternative capital solutions transaction on terms and conditions acceptable to the Lenders.

Pursuant to the Twelfth Amendment, the Lenders also agreed to reduce the Credit Agreement's minimum liquidity covenant to require minimum cash liquidity of $3.0 million (instead of $6.25 million, as under the Eleventh Amendment).

The foregoing summary of the Twelfth Amendment is qualified in its entirety by the complete text of such agreement, a copy of which is filed hereto as Exhibits 10.1.