What happened Shares of BioXcel Therapeutics (NASDAQ: BTAI) were sinking 15.2% as of 11:25 a.m. EDT on Thursday. The decline came after the company's regulatory filing to the Securities and Exchange Commission revealed that chief commercial officer William P. Kane Jr. had resigned on Oct. 8. So what It's not unusual for the unexpected departure of a top executive to cause a biotech stock to fall. That's especially the case when the biotech hopes to soon have its first product on the market, as BioXcel does. Image source: Getty Images. Kane was named chief commercial officer for the company in June 2020. He previously served as the head of Allergan's U.S. general medicine business unit. No details were released about why Kane left BioXcel. The uncertainty about whether or not there's a concerning underlying issue behind his departure has rattled investors. However, it's possible that today's pullback is much ado about nothing. Now what The most important thing to watch with BioXcel is the anticipated Food and Drug Administration approval decision for BXCL501 in treating agitation associated with schizophrenia and bipolar disorders I and II. The FDA has established a PDUFA date for this decision of Jan. 5, 2022. 10 stocks we like better than BioXcel Therapeutics, Inc.When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and BioXcel Therapeutics, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of September 17, 2021 Keith Speights has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source