BioAtla, Inc. BCAB
We are a clinical-stage biopharmaceutical company developing our novel class of highly specific and selective antibody-based therapeutics for the treatment of solid tumor cancers. Our conditionally active biologics ("CAB" or "CABs") capitalize on our proprietary discoveries with respect to tumor biology, enabling us to target known and widely validated tumor antigens that have previously been difficult or impossible to target. Our novel CAB therapeutic candidates exploit characteristic pH differences between the tumor microenvironment and healthy tissue. Unlike healthy tissue, the tumor microenvironment is acidic, and we have designed our antibodies to selectively bind to their targets on cancer cells under acidic pH conditions but not on targets in normal tissues. Our approach is to identify the necessary targeting and potency required for cancer cell destruction, while aiming to eliminate or greatly reduce on-target, off-tumor toxicity—one of the fundamental challenges of existing cancer therapies. The enhanced selectivity of our CAB technology has the potential to greatly improve the benefit-risk ratio for the patient and allows us to deliver desired drug levels either as monotherapy or utilizing unique multi-targeted or combination therapies that are currently difficult or impossible to develop. Additionally, the combination of reversible binding with the selective, precision capability of our CAB technology enables both increased antibody potency and reduced toxicity. By exploiting our novel understanding of tumor biology, we believe that our proprietary CAB technology has the potential to transform antibody-based cancer therapy.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | $300.0K | — | — | — |
| R&D | $43.6M | $63.1M | $103.7M | $79.3M | $58.3M | $19.9M | $25.9M | — |
| SG&A | $17.7M | $21.8M | $26.0M | $28.8M | $38.4M | $10.6M | $7.5M | — |
| Total operating expenses | $61.3M | $84.9M | $129.7M | $108.1M | $96.7M | $30.5M | $33.5M | — |
| Operating income | -$59.3M | -$73.9M | -$129.7M | -$108.1M | -$96.4M | -$30.1M | -$28.3M | — |
| Interest expense | — | — | — | $0 | $3.0K | $1.4M | $1.6M | — |
| Pre-tax income | $59.6M | $69.8M | $123.5M | -$106.5M | -$95.4M | -$35.9M | — | — |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | — | — |
| Net income | $59.6M | $69.8M | $123.5M | -$106.5M | -$95.4M | -$35.9M | -$29.9M | — |
| EPS, basic | -1.01 | -1.44 | -2.58 | -2.74 | -2.76 | — | — | — |
| EPS, diluted | -1.01 | -1.44 | -2.58 | -2.74 | -2.76 | -3.19 | — | — |
| Shares, diluted (wtd. avg.) | 58.8M | 48.6M | 47.8M | 38.9M | 34.6M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $7.1M | $49.0M | $111.5M | $215.5M | $245.0M | $238.6M | $3.7M | $10.9M |
| Total current assets | $8.0M | $51.2M | $116.4M | $220.4M | $247.3M | $240.7M | — | — |
| Property, plant and equipment | $120.0K | $678.0K | $1.6M | $2.7M | $3.7M | $4.1M | — | — |
| Total assets | $13.8M | $52.4M | $119.7M | $225.7M | $254.4M | $244.9M | — | — |
| Accounts payable | $8.2M | $1.9M | $3.8M | $4.2M | $1.2M | $2.5M | — | — |
| Total current liabilities | $21.9M | $14.5M | $28.3M | $23.1M | $19.8M | $32.3M | — | — |
| Total liabilities | $50.0M | $38.2M | $49.0M | $45.4M | $43.6M | $35.0M | — | — |
| Retained earnings | -$545.6M | -$486.0M | -$416.3M | -$292.8M | -$186.3M | -$90.9M | — | — |
| Total equity | -$36.2M | $14.3M | $70.7M | $180.3M | $210.8M | $210.0M | -$56.0M | -$28.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$48.2M | -$71.9M | -$104.0M | -$90.4M | -$62.2M | -$36.3M | -$9.6M | — |
| Depreciation and amortisation | $373.0K | $925.0K | $1.2M | $1.2M | $1.3M | $1.0M | $860.0K | — |
| Stock-based compensation | $5.4M | $8.9M | $13.5M | $14.6M | $25.1M | $3.0M | $0 | — |
| Investing cash flow | — | $0 | -$98.0K | -$265.0K | -$924.0K | -$590.0K | -$1.5M | — |
| Financing cash flow | $6.3M | $9.5M | $77.0K | $61.2M | $69.5M | $271.8M | $4.0M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-255422.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | $300.0K | — | — | — | — |
| Gross profit | — | — | — | — | — | — | — | — |
| Net income | — | -$29.9M | -$35.9M | -$95.4M | -$106.5M | $123.5M | $69.8M | $59.6M |
Recent filings and events
- Delisting notice The exchange has told the company it no longer meets the rules for staying listed - usually price, market cap, or filings that are late. Item 3.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote Item 5.07
- Results announced Item 2.02
- Restructuring or exit costs A restructuring: layoffs, a plant closure, a business being wound down. Item 2.05
- Officer or director change Item 5.02
- Regulation FD disclosure Item 7.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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