BioAtla(US:BCAB)2025-11-13 21:06Financial Performance - Net loss for Q3 2025 was $15.8 million, compared to a net loss of $10.6 million in Q3 2024, with the increase primarily due to the absence of collaboration revenue recorded in 2024[13] - Net loss for the three months ended September 30, 2025, was $15,778, compared to a net loss of $10,586 for the same period in 2024, indicating an increase of approximately 49.5%[26] - Net loss per common share for the three months ended September 30, 2025, was $0.27, compared to $0.22 for the same period in 2024, indicating a worsening of approximately 22.7%[26] Expenses - Research and development (R&D) expenses for Q3 2025 were $9.5 million, down from $16.4 million in Q3 2024, reflecting a 42% decrease primarily due to lower program development costs and workforce reduction[9] - General and administrative (G&A) expenses decreased to $4.2 million in Q3 2025 from $5.9 million in Q3 2024, a reduction of 29% attributed to lower personnel costs[12] - Total operating expenses decreased to $13,789 for the three months ended September 30, 2025, compared to $22,270 in the same period of 2024, representing a reduction of approximately 38.2%[26] - Research and development expenses for the three months ended September 30, 2025, were $9,539, down from $16,395 in the same period of 2024, a decrease of approximately 41.5%[26] - General and administrative expenses decreased to $4,250 for the three months ended September 30, 2025, from $5,875 in the same period of 2024, a reduction of approximately 27.6%[26] Cash and Assets - Cash and cash equivalents as of September 30, 2025, were $8.3 million, excluding a recent $2 million milestone payment from Context Therapeutics[13] - Cash and cash equivalents decreased significantly to $8,320 as of September 30, 2025, down from $49,046 as of December 31, 2024[28] - Total assets decreased to $15,908 as of September 30, 2025, compared to $52,422 as of December 31, 2024, reflecting a decline of approximately 69.7%[28] Liabilities and Equity - Total liabilities increased to $47,145 as of September 30, 2025, compared to $38,157 as of December 31, 2024, representing an increase of approximately 23.5%[28] - Total stockholders' equity showed a deficit of $31,237 as of September 30, 2025, compared to a positive equity of $14,265 as of December 31, 2024[28] Clinical Trials and Developments - The company achieved FDA alignment on the Phase 3 Oz-V trial design for the treatment of 2L+ OPSCC, which has the potential for accelerated approval[5] - The ongoing BA3182 trial in advanced adenocarcinomas is evaluating various dosing schedules, with preliminary data expected in the first half of 2026[9] - A confirmed partial response at 0.6 mg of BA3182 has been ongoing for over six months in a patient with intrahepatic cholangiocarcinoma[10] - The Phase 2 study of Mecbotamab vedotin (Mec-V) showed a median overall survival of 21.5 months among 44 evaluable patients, with a 12-month OS rate of 73%[10] Strategic Partnerships - BioAtla is in advanced stages to finalize a strategic partnership transaction by year-end 2025[5] - Context Therapeutics triggered a $2 million milestone payment under the CAB-Nectin4-TCE program, reflecting continued progress in BioAtla's T-cell engager platform[11] - Collaboration and other revenue remained unchanged at $11,000 for both the three and nine months ended September 30, 2025[26]