We present the phase diagram of free charges (electrons and holes), excitons, and biexcitons in highly excited CdSe nanoplatelets that predicts a crossover to a biexciton-dominated region at easily attainable low temperatures or high photoexcitation densities. Our findings extend previous work describing only free charges and excitons by introducing biexcitons into the equation of state, while keeping the exciton and biexciton binding energies constant in view of the relatively low density of free charges in this material. Our predictions are experimentally testable in the near future and offer the prospect of creating a quantum degenerate, and possibly even superfluid, biexciton gas. Furthermore, we also provide simple expressions giving analytical insight into the regimes of photoexcitation densities and temperatures in which excitons and biexcitons dominate the response of the nanoplatelets.