BioAtla(US:BCAB)2025-08-07 20:06Financial Performance - Net loss for Q2 2025 was $18.7 million, an improvement from a net loss of $21.1 million in Q2 2024, reflecting a reduction of 11.4%[12] - For the three months ended June 30, 2025, total operating expenses were $18,647,000, a decrease of 15.8% compared to $21,972,000 for the same period in 2024[27] - The net loss for the three months ended June 30, 2025, was $18,711,000, compared to a net loss of $21,072,000 for the same period in 2024, indicating a reduction of 11.5%[27] - The company reported a net loss per common share of $0.32 for the three months ended June 30, 2025, compared to $0.44 for the same period in 2024, showing an improvement of 27.3%[27] Expenses - Research and development (R&D) expenses for Q2 2025 were $13.7 million, down from $16.2 million in Q2 2024, a decrease of 15.4%[9] - General and administrative (G&A) expenses for Q2 2025 were $5.0 million, compared to $5.8 million in Q2 2024, a decrease of 13.8%[12] - Research and development expenses for the six months ended June 30, 2025, were $26,039,000, down from $35,050,000 in the same period of 2024, representing a 25.7% decrease[27] Cash and Assets - Net cash used in operating activities for the first half of 2025 was $30.4 million, down from $50.0 million in the same period of 2024, a decrease of 39.2%[13] - Cash and cash equivalents as of June 30, 2025, were $18.2 million, down from $49.0 million as of December 31, 2024[14] - Cash and cash equivalents decreased to $18,207,000 as of June 30, 2025, from $49,046,000 at the end of 2024, reflecting a decline of 62.9%[29] - Total assets decreased to $27,129,000 as of June 30, 2025, down from $52,422,000 at the end of 2024, a reduction of 48.2%[29] - Total liabilities increased to $43,874,000 as of June 30, 2025, compared to $38,157,000 at the end of 2024, representing a rise of 15.5%[29] Clinical Trials and Research - The Phase 1 study of BA3182 showed objective tumor size reductions in seven patients, with reductions of up to 25% in non-small cell lung cancer (NSCLC) patients[6] - The Phase 2 trial of ozuriftamab vedotin (Oz-V) demonstrated an overall response rate (ORR) of 45% in treatment-refractory HPV+ oropharyngeal squamous cell carcinoma patients[6] - The median duration of response for Oz-V was 9.9 months, with a median overall survival of 11.6 months[6] - Phase 1 data readout for BA3182 is expected in the second half of 2025, with cohort expansion data readout anticipated in the first half of 2026[5] Future Outlook - The company expects to close at least one transaction in 2025 as it advances partnering discussions across its portfolio[5] - The company anticipates needing additional funding to continue the development of its CAB technology platform and product candidates[23] - Forward-looking statements indicate potential delays in clinical trials and uncertainties in achieving anticipated clinical endpoints[23]