Boundless Bio, Inc.(BOLD) - 2025 Q1 - Quarterly Results

Business and Operational Highlights Boundless Bio anticipates BBI-355 proof-of-concept data in H2 2025 and a Kinesin program IND filing in H1 2026 - Initial proof-of-concept data from the BBI-355 Phase 1/2 POTENTIATE trial in patients with oncogene-amplified cancers is anticipated in the second half of 2025[1][2] - The novel Kinesin program is on track to nominate a development candidate by mid-2025, with an Investigational New Drug (IND) submission planned for the first half of 2026[1][3] - Preclinical data for BBI-825, presented at the AACR Annual Meeting, suggested potential to delay or prevent acquired resistance in colorectal cancer models when combined with RAS targeting inhibitors[4] First Quarter 2025 Financial Results Boundless Bio reported a Q1 2025 net loss of $15.8 million, with $138.3 million cash supporting operations into 2027 - The company maintains a strong cash position with $138.3 million in cash, cash equivalents, and short-term investments as of March 31, 2025, providing an operating runway into 2027[1][8] Q1 2025 Financial Highlights (vs. Q1 2024) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | R&D Expenses | $12.1 million | $13.1 million | | G&A Expenses | $5.2 million | $3.8 million | | Net Loss | $15.8 million | $15.4 million | Consolidated Financial Statements Q1 2025 statements detail $17.3 million in operating expenses, a $15.8 million net loss, and $191.2 million in total assets Statement of Operations (Three Months Ended March 31, in thousands) | Line Item | 2025 (in thousands) | 2024 (in thousands) | | :--- | :--- | :--- | | Research and development | $12,138 | $13,129 | | General and administrative | $5,203 | $3,754 | | Total operating expenses | $17,341 | $16,883 | | Loss from operations | $(17,341) | $(16,883) | | Interest income | $1,585 | $1,421 | | Net loss | $(15,758) | $(15,430) | | Net loss per share | $(0.71) | $(12.27) | Balance Sheet Data (in thousands) | Line Item | March 31, 2025 (in thousands) | December 31, 2024 (in thousands) | | :--- | :--- | :--- | | Cash, cash equivalents, and short-term investments | $138,253 | $152,114 | | Total assets | $191,242 | $206,409 | | Total liabilities | $54,650 | $55,767 | | Total stockholders' equity | $136,592 | $150,642 | Company Overview and Forward-Looking Statements Boundless Bio, an oncology company targeting ecDNA in amplified tumors, notes forward-looking statements are subject to inherent drug development risks - The company's research focuses on extrachromosomal DNA (ecDNA), a root cause of oncogene amplification observed in 14% to 17% of cancer patients[6] - The company's lead ecDNA-directed therapeutic candidate (ecDTx) is BBI-355, an oral inhibitor of checkpoint kinase 1 (CHK1)[6] - Forward-looking statements are subject to risks including the unproven nature of the company's novel approach, potential clinical trial delays, and regulatory uncertainties[7][9]