BioAtla, Inc. (BCAB)
BioAtla Inc. is a biopharmaceutical firm currently in the clinical development phase, focused on creating highly specific and selective antibody-derived treatments designed to combat solid tumor cancers. The company's primary experimental therapeutic, BA3011, is a conditionally active biologic antibody-drug conjugate (CAB ADC) being investigated for its potential against soft tissue and bone sarcoma, non-small cell lung cancer (NSCLC), and ovarian cancer. Additionally, BioAtla is advancing BA3021, another CAB ADC, for a variety of solid malignancies such as NSCLC, melanoma, and ovarian cancer. A third candidate, BA3071, is a conditionally active anti-cytotoxic T-lymphocyte-associated antigen 4 (CTLA-4) antibody aimed at a broad spectrum of cancers, including renal cell carcinoma, non-small cell and small cell lung cancers, hepatocellular carcinoma, melanoma, bladder cancer, gastric cancer, and cervical cancer. Established in 2007, BioAtla Inc. operates out of San Diego, California.
Sector: Biological Products, (No Diagnostic Substances)
Industry: Biotechnology
BioAtla, Inc.
OTC:BCABHealthcare · Biotechnology
+14.62%$1.96
Mkt Cap$63.34M
Float1.41M
O/S32.32M
Inst Own0.9%
SI5.2%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$2M
Net Income-$59.61M
Total Assets$13.83M
Free Cash Flow-$48.2M
Debt & Equity
Total Debt$6.2M
Total Equity-$36.19M
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
2-year cumulative
1:50
Nasdaq bars a compliance period at 1:250
- 1:50Reverse splitApr 6, 202650 shares → 1
Balance Sheet Details
Assets$13.83M
Liabilities$50.02M
Accounts Receivable$0
Accounts Payable$8.19M
Inventory$0
PP&E (Net)$5.65M
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Revenue | $2M | $11M | $0 | $0 | $250K | $429K | $5.2M | $10.63M |
| YoY Growth | -81.8% | - | - | - | -41.7% | -91.8% | -51.1% | - |
| Cost of Revenue | $43.07M | $925K | $1.22M | $1.2M | $58.27M | $19.93M | $25.92M | $26.3M |
| Gross Profit | -$41.07M | $10.07M | -$1.22M | -$1.2M | -$58.02M | -$19.5M | -$20.72M | -$15.68M |
| Gross Margin | -2053.7% | 91.6% | - | - | -23209.6% | -4546.4% | -398.4% | -147.5% |
| Research and Development | $43.57M | $63.09M | $103.73M | $79.35M | $58.27M | $19.93M | $25.92M | $26.3M |
| Selling, General, and Administrative | $17.63M | $21.85M | $25.96M | $28.79M | $38.42M | $10.6M | $7.55M | $12.56M |
| Other | -$42.97M | -$925K | -$1.22M | -$1.2M | -$58.27M | -$19.93M | -$25.92M | -$5K |
| Total Operating Expenses | $18.23M | $84.02M | $128.47M | $106.94M | $38.42M | $10.6M | $7.55M | $38.86M |
| Operating Income (EBIT) | -$59.3M | -$73.94M | -$129.69M | -$108.14M | -$96.44M | -$30.1M | -$28.27M | -$28.23M |
| Operating Margin | -2965.3% | -672.2% | - | - | -38576.0% | -7016.1% | -543.6% | -265.7% |
| Interest Expense | $0 | $0 | $0 | $0 | $3K | $1.39M | $1.63M | $949K |
| Interest Income | $843K | $3.37M | $6.31M | $1.65M | $350K | $100K | $128K | $209K |
| Other Income (Expense) | -$302K | $4.17M | $6.22M | $1.66M | $1.04M | -$5.75M | -$1.59M | -$745K |
| Income Before Tax (EBT) | -$59.61M | -$69.78M | -$123.46M | -$106.48M | -$95.4M | -$35.85M | -$29.86M | -$28.98M |
| Income Tax Expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $204K |
| Net Income | -$59.61M | -$69.78M | -$123.46M | -$105.28M | -$95.4M | -$35.85M | -$29.79M | -$28.98M |
| Net Income Margin | -2980.3% | -634.3% | - | - | -38160.8% | -8357.3% | -573.0% | -272.7% |
| Supplementary Data | ||||||||
| EPS | -50.50 | -72.00 | -129.00 | -137.00 | -138.00 | -53.00 | -46.50 | -67.00 |
| Diluted EPS | -50.50 | -72.00 | -129.00 | -137.00 | -138.00 | -53.00 | -46.50 | -67.00 |
| Weighted Average OS | 1.18M | 971,467 | 955,551 | 778,545 | 691,225 | 673,272 | 673,272 | 431,772 |
| EBITDA | -$59.23M | -$68.85M | -$122.24M | -$105.28M | -$94.07M | -$33.46M | -$27.41M | -$27.24M |
| EBITDA Margin | -2961.7% | -625.9% | - | - | -37627.6% | -7798.6% | -527.1% | -256.3% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and Cash Equivalents | $7.12M | $49.05M | $111.47M | $215.51M | $244.98M | $238.6M | $3.7M | $10.86M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $7.12M | $49.05M | $111.47M | $215.51M | $244.98M | $238.6M | $3.7M | $10.86M |
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $232K | $447K | $320K | $539K | $1.81M | $72K | $214K | $281K |
| Total Current Assets | $8.01M | $51.23M | $116.41M | $220.43M | $247.29M | $240.68M | $4.51M | $12.66M |
| Long-Term Assets | ||||||||
| Property, Plant & Equipment Net | $5.65M | $1.19M | $3.1M | $5.15M | $6.98M | $4.1M | $4.67M | $3.88M |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $163K | $0 | $154K | $154K | $154K | $154K | $154K | $97K |
| Total Long-Term Assets | $5.82M | $1.19M | $3.25M | $5.3M | $7.13M | $4.26M | $4.83M | $3.98M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $13.83M | $52.42M | $119.66M | $225.74M | $254.42M | $244.94M | $9.34M | $16.64M |
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts Payable | $8.19M | $1.9M | $3.82M | $4.23M | $1.18M | $2.46M | $5.14M | $1.96M |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $9.71M | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $19.81M | $1.42M | $169K |
| Other Current Liabilities | $4.18M | $2.73M | $19.11M | $13.93M | $2.67M | $3.19M | $8.16M | $5.2M |
| Total Current Liabilities | $21.92M | $14.54M | $28.34M | $23.13M | $19.81M | $32.26M | $26.72M | $9.2M |
| Long-Term Liabilities | ||||||||
| Long-Term Debt | $4.77M | $0 | $0 | $0 | $0 | $682K | $8.41M | $15M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $18.82M | $309K |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $2.81M | $4.59M |
| Other Long-Term Liabilities | $23.32M | $23.62M | $19.81M | $19.81M | $19.81M | $2.02M | $8.59M | $15.99M |
| Total Long-Term Liabilities | $28.09M | $23.62M | $20.64M | $22.27M | $23.79M | $2.7M | $38.63M | $35.89M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $50.02M | $38.16M | $48.99M | $45.4M | $43.6M | $34.96M | $65.35M | $45.08M |
| Stockholders' Equity | ||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $89.34M | $89.34M |
| Common Stock | $6K | $6K | $5K | $5K | $4K | $3K | $750K | $750K |
| Retained Earnings | -$545.65M | -$486.04M | -$416.26M | -$292.8M | -$186.32M | -$90.92M | -$148.35M | -$118.56M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | -$0 | $0 | $0 | -$1.38M |
| Other Stockholders' Equity | $509.45M | $500.3M | $486.93M | $473.13M | $397.14M | $300.89M | $91.64M | $89.34M |
| Total Equity | -$36.19M | $14.27M | $70.67M | $180.34M | $210.82M | $209.97M | -$55.96M | -$28.46M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | -$47K | $19K |
| Total Liabilities and Equity | $13.83M | $52.42M | $119.66M | $225.74M | $254.42M | $244.94M | $9.38M | $16.62M |
| Supplementary Data | ||||||||
| Total Debt | $6.2M | $836K | $2.46M | $3.98M | $5.37M | $682K | $18.12M | $15M |
| Net Debt | -$918K | -$48.21M | -$109.01M | -$211.53M | -$239.61M | -$237.92M | $14.42M | $4.14M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Operating Activities | ||||||||
| Net Income | -$59.61M | -$69.78M | -$123.46M | -$106.48M | -$95.4M | -$35.85M | -$29.86M | -$28.98M |
| Depreciation & Amortization | $373K | $925K | $1.22M | $1.2M | $1.33M | $1.01M | $860K | $794K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | -$686K | $4.46M | $6K | $0 |
| Stock-Based Compensation | $5.43M | $8.92M | $13.54M | $14.56M | $25.12M | $3.02M | -$6K | $3K |
| Changes in Working Capital: | ||||||||
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $2.8M | -$13.46M | $5.28M | $3.41M | $7.99M | -$1.66M | $3.13M | $446K |
| Other Working Capital | $1.47M | $2.26M | -$604K | -$3.12M | -$568K | -$838K | $21.97M | -$10.15M |
| Total Working Capital Change | $4.28M | -$11.2M | $4.68M | $287K | $7.42M | -$2.5M | $25.1M | -$9.7M |
| Other Non-Cash Items | $1.32M | -$807K | $2K | $13K | $3K | -$6.48M | -$5.75M | $2.57M |
| Net Cash from Operating | -$48.2M | -$71.94M | -$104.02M | -$90.42M | -$62.21M | -$36.33M | -$9.64M | -$35.32M |
| Investing Activities | ||||||||
| Capital Expenditures | $0 | $0 | -$98K | -$268K | -$924K | -$590K | -$1.51M | -$988K |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | -$19K | -$5K | $19K |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $3K | $0 | $19K | $5K | $0 |
| Net Cash from Investing | $0 | $0 | -$98K | -$265K | -$924K | -$590K | -$1.51M | -$988K |
| Financing Activities | ||||||||
| Debt Repaid | -$7.13M | - | - | - | - | -$3.43M | -$4M | -$5M |
| Common Stock Issuance | $100K | $9.21M | $336K | $61.68M | $70.99M | $200.23M | $0 | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$949K | $296K | -$259K | -$469K | -$1.91M | -$19K | -$5K | $19K |
| Net Cash from Financing | $6.28M | $9.51M | $77K | $61.21M | $69.51M | $271.82M | $4M | $5.02M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$41.93M | -$62.42M | -$104.04M | -$29.47M | $6.37M | $234.9M | -$7.16M | -$31.29M |
| Supplementary Data | ||||||||
| Operating Cash Flow | -$48.2M | -$71.94M | -$104.02M | -$90.42M | -$62.21M | -$36.33M | -$9.64M | -$35.32M |
| Capital Expenditure | $0 | $0 | -$98K | -$268K | -$924K | -$590K | -$1.51M | -$988K |
| Free Cash Flow | -$48.2M | -$71.94M | -$104.11M | -$90.69M | -$63.14M | -$36.92M | -$11.15M | -$36.3M |
| Cash at Beginning | $49.05M | $111.47M | $215.51M | $244.98M | $238.6M | $3.7M | $10.86M | $42.15M |
| Cash at End | $7.12M | $49.05M | $111.47M | $215.51M | $244.98M | $238.6M | $3.7M | $10.86M |