BioAtla Reports Third Quarter 2025 Financial Results and Highlights Recent Progress

Core Insights - BioAtla, Inc. reported its financial results for Q3 2025, highlighting progress in clinical programs and a strategic partnership expected to be finalized by year-end [1][2][4]. Financial Performance - Research and development (R&D) expenses decreased to $9.5 million in Q3 2025 from $16.4 million in Q3 2024, primarily due to lower program development costs and workforce reductions [8]. - General and administrative (G&A) expenses also fell to $4.2 million in Q3 2025 from $5.9 million in Q3 2024, attributed to reduced personnel costs [10]. - The net loss for Q3 2025 was $15.8 million, compared to a net loss of $10.6 million in Q3 2024, with the increase largely due to the absence of collaboration revenue recorded in the previous year [11]. Clinical Developments - The company achieved FDA alignment on the Phase 3 trial design for Ozuriftamab vedotin (Oz-V) targeting 2L+ oropharyngeal squamous cell carcinoma (OPSCC), with potential for accelerated approval [4][5]. - Ongoing trials for BA3182 in advanced adenocarcinomas are evaluating various dosing schedules, with preliminary data showing prolonged tumor control [5][8]. - The Phase 2 study of Mecbotamab vedotin (Mec-V) reported a median overall survival of 21.5 months among patients with treatment-refractory soft tissue sarcomas [5][14]. Strategic Initiatives - BioAtla is in advanced stages of finalizing a strategic transaction with a potential partner, aiming for completion by the end of 2025 [4][11]. - A $2 million milestone payment was triggered by Context Therapeutics under the license agreement for the CAB-Nectin4-TCE program, reflecting progress in the T-cell engager platform [9]. Upcoming Milestones - The company expects to initiate the Oz-V Phase 3 study in early 2026 and anticipates additional readouts from ongoing trials later in 2026 [5][8].