Bioatla Q4 2023 Earnings Report
Key Takeaways
BioAtla reported its Q4 and full year 2023 financial results, highlighting progress in its CAB-ADC clinical trials and CAB-CTLA-4 clinical asset. Key milestones include cleared DLT observation period for BA3071, fully enrolled Phase 2 trials for BA3021, and progress in the Phase 2 study for BA3011. The company's cash balance is expected to fund operations into 2H 2025.
CAB-CTLA-4 (BA3071) Phase 1 study cleared dose-limiting toxicity (DLT) observation period with 700 mg (10 mg/kg); initial Phase 2 monotherapy data readout anticipated in 2Q 2024 and in combination with pembrolizumab in 2H 2024
CAB-ROR2 (BA3021) Phase 2 melanoma and squamous cell carcinoma of the head and neck (SCCHN) clinical trials fully enrolled; on track for data readouts in 2Q 2024
CAB-AXL (BA3011) Phase 2 potentially registrational study in undifferentiated pleomorphic sarcoma (UPS) on track for enrollment completion of approximately 20 patients in April with anticipated FDA meeting for guidance on the remaining portion of the potentially registrational trial in 2H 2024
CAB-EpCAM x CAB-CD3 (BA3182) Phase 1 dose-escalation study on track with full data readout anticipated in 2H 2024; potential initiation of Phase 2 study in 2H 2024
Bioatla
Bioatla
Forward Guidance
BioAtla expects R&D expenses to decrease overall in the 1H of 2024 and current cash and cash equivalents will be sufficient to fund operations into the second half of 2025.