AI-driven biopharma firm BioXcel Therapeutics filed for Chapter 11 bankruptcy protection in the U.S. on Thursday, listing estimated liabilities of $100 million to $500 million and assets of $10 million to $50 million in a petition filed with the U.S. Bankruptcy Court for the District of Delaware. The filing followed an amended credit agreement under which creditors would provide the company with an additional $1.25 million in loans. BioXcel reported an adjusted quarterly loss of 49 cents per share for the three months ended June 30. Its shares have fallen about 55% so far this year. In May, the company said it was exploring strategic options including a sale, merger or licensing agreement involving its assets, without providing a timeline. BioXcel focuses on neurological medication, and its experimental drug BXCL501 is marketed as an acute treatment for agitation associated with Alzheimer’s dementia.