Boundless Bio, Inc.(US:BOLD)2025-11-05 12:10Financial Position - The company has an accumulated deficit of $246.8 million as of September 30, 2025, and expects to continue incurring losses for the foreseeable future [98]. - As of September 30, 2025, the company had cash, cash equivalents, and short-term investments of $117.6 million, expected to fund operations into the first half of 2028 [99][100]. - The company reported an accumulated deficit of $246.8 million as of September 30, 2025, and anticipates continued significant operating losses in the foreseeable future [132]. - The company has no committed sources of capital and plans to finance future cash needs primarily through equity offerings and debt financings [134]. Revenue Generation - The company has not generated any revenue to date and does not expect to do so until regulatory approval for its ecDTx is obtained [101]. - The company expects to incur significant commercialization expenses if regulatory approval for any ecDTx is obtained, impacting future financial performance [132]. Fundraising and Cash Flow - The company raised a total of $353.8 million to fund operations, including $100.0 million from its IPO in April 2024 [99]. - The company entered into an Open Market Sale Agreement in April 2025, allowing for potential future sales of common stock [130]. - Net cash used in operating activities was $36.6 million for the nine months ended September 30, 2025, a decrease from $45.3 million in the same period of 2024, primarily due to reduced third-party spending [136]. - Financing activities provided net cash of $0.1 million during the nine months ended September 30, 2025, significantly lower than $89.7 million in the same period of 2024, primarily due to IPO proceeds [139]. Operating Expenses - Research and development (R&D) expenses decreased to $10.7 million for the three months ended September 30, 2025, down from $14.1 million in 2024, a reduction of $3.4 million [121]. - General and administrative (G&A) expenses were $4.5 million for the three months ended September 30, 2025, compared to $4.6 million in 2024, reflecting a decrease of $0.2 million [122]. - Total operating expenses for the three months ended September 30, 2025, were $15.1 million, down from $18.7 million in 2024, a decrease of $3.6 million [120]. - For the nine months ended September 30, 2025, R&D expenses totaled $35.0 million, down from $42.0 million in 2024, a decrease of $6.9 million [126]. - G&A expenses for the nine months ended September 30, 2025, increased to $14.5 million from $13.0 million in 2024, an increase of $1.5 million [127]. - Total operating expenses for the nine months ended September 30, 2025, were $49.6 million, down from $55.0 million in 2024, a decrease of $5.4 million [125]. - Other income, net for the three months ended September 30, 2025, was $1.3 million, down from $2.2 million in 2024, a decrease of $0.9 million [123]. Clinical Trials and Development - The company opened the BBI-355/BBI-825 combination arm of the POTENTIATE trial for enrollment in Q3 2025, with initial proof-of-concept data expected within the existing cash runway timeline [93]. - The company plans to submit an IND for BBI-940 in the first half of 2026 and anticipates delivering initial proof-of-concept clinical data within the existing cash runway timeline [94]. - The company has developed an ecDNA diagnostic called ECHO to detect ecDNA in patient tumor samples, currently used in the POTENTIATE trial [95]. - The company discontinued the monotherapy arm and combination arms of BBI-355 with third-party therapies in the POTENTIATE trial based on initial data, focusing on BBI-355 in combination with BBI-825 [96]. - The company has incurred substantial costs related to clinical trials, preclinical studies, and research and development activities, with cash flow fluctuations expected based on these activities [136]. Risks and Uncertainties - The company faces significant risks from macroeconomic and regulatory uncertainties that could adversely affect its operations and ability to raise capital [105][106]. - The company remains classified as an emerging growth company, allowing it to delay compliance with certain accounting standards until it meets specific revenue or market value thresholds [145]. Lease Obligations - Future minimum lease payment obligations under a non-cancellable lease agreement total $71.6 million as of September 30, 2025, with base rent payments commencing in July 2025 [140].