BioAtla, Inc. Announces Registered Direct Offering to Advance Two Mid-Stage Clinical Programs to Key Inflection Points

Core Viewpoint - BioAtla, Inc. has announced a registered direct offering of 9,679,158 shares of common stock, aiming to raise approximately $9.2 million to fund its research and development efforts, particularly for its mid-stage clinical programs [1][4]. Group 1: Offering Details - The offering includes warrants to purchase one share of common stock at an exercise price of $1.19 per share, with a combined offering price of $0.9520 per share and warrant [1]. - The closing of the offering is expected to occur on or about December 20, 2024, subject to customary closing conditions [1]. Group 2: Use of Proceeds - The net proceeds will be used to fund research and development, including key inflection points for the mid-stage clinical TCell Engager (TCE) and Antibody Drug Conjugate (ADC) programs [4]. - Specific programs mentioned include BA3182 (Phase 1 data expected in 2Q25) and mecbotamab vedotin (Phase 2B data expected in 1H26) [4]. Group 3: Company Overview - BioAtla is a clinical-stage biotechnology company focused on developing Conditionally Active Biologic (CAB) antibody therapeutics for solid tumors [1][10]. - The company has two first-in-class CAB programs in Phase 2 clinical testing and a dual CAB bispecific T-cell engager antibody in Phase 1 development [10]. - BioAtla holds extensive patent coverage for its CAB technology, with over 780 active patent matters [10].