Loading...
•
Sep 30, 2022
Bioatla Q3 2022 Earnings Report
BioAtla reported financial results and provided clinical program updates for the third quarter of 2022.
Key Takeaways
BioAtla's CAB-ADC programs showed encouraging data, with multiple partial responses observed in the Phase 2 NSCLC study. The company anticipates several updates in the coming months as they progress BA3021 and BA3071. BioAtla has a strong cash position expected to last into the second half of 2024.
Mecbotamab vedotin (BA3011) Phase 2 part 1 interim results in NSCLC continue to show antitumor activity with additional patients enrolled.
BA3011 Undifferentiated Pleomorphic Sarcoma (UPS) enrollment in Phase 2 part 2 of study anticipated to begin by year-end.
CAB-CTLA-4 (BA3071) Phase 1 study ongoing in tumor types responsive to CTLA-4 inhibition with first two cohorts completed without Dose Limiting Toxicities (DLTs) or Serious Adverse Events (SAEs) reported; third cohort (70mg) on-going with DLT observation period anticipated to conclude by year-end.
Cash balance of $178.1 million at quarter-end expected to provide funding into 2H24.
Forward Guidance
BioAtla expects current cash and cash equivalents will be sufficient to fund planned operations including all ongoing CAB product development programs into second half 2024. R&D expenses are expected to remain variable and generally increase. G&A expenses are expected to moderately increase.
Positive Outlook
- Cash and cash equivalents will be sufficient to fund planned operations into second half 2024.
- Advance product candidates.
- Advance intellectual property portfolio.
- Support focused pre-commercialization activities for product candidate mecbotamab vedotin (BA3011).
- Satisfy requirements as a public company.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...