GlobeNewswire·Mar 31, 2026, 4:05 PM ET

BioAtla Reports Fourth Quarter and Full Year 2025 Financial Results and Business Highlights

BCAB

BioAtla, Inc. announced financial results for the full year & fourth quarter ended December 31, 2025, while initiating a formal process on March 2, 2026, to evaluate strategic options such as asset sales or partnerships to maximize shareholder value.
The company engaged Tungsten Advisors as its exclusive strategic financial advisor for the evaluation process, with no assurance that transactions will be finalized.
BioAtla implemented a reduction in force & cost-containment measures in March 2026 to reduce operating expenses & extend its cash runway.
The company is re-evaluating the timing & scope of clinical development programs, including the Phase 1 study of BA3182 & the potential Phase 3 study for ozuriftamab vedotin, pending the outcome of the strategic process.
Research & development expenses decreased to $8.0 million for Q4 2025 & $43.6 million for the full year 2025, driven by lower program costs, reduced headcount, & lower stock-based compensation.
General & administrative expenses decreased to $3.3 million for Q4 2025 & $17.7 million for the full year 2025, primarily due to personnel-related cost reductions & lower non-cash stock-based compensation.
Collaboration revenue was $2.0 million for both Q4 2025 & the full year 2025, reflecting a Context Therapeutics milestone payment compared to $11.0 million in the full year 2024.
Net loss was $9.8 million for Q4 2025 & $59.6 million for the full year 2025, improvements driven by lower operating expenses & a non-cash gain on warrant liability.
Pre-paid Advance Agreements (PPAs) were fully converted into common stock as of March 2026, with no amounts remaining outstanding.
Cash & cash equivalents totaled $7.1 million as of December 31, 2025, with the company utilizing a Standby Equity Purchase Agreement to extend its runway.
The company will continue the ongoing Phase 1 study of BA3182 in adenocarcinomas while prioritizing resources on specific clinical programs.
Ozuriftamab vedotin remains in Phase 3 for 2L+ oropharyngeal squamous cell carcinoma, & the company is re-evaluating the timeline to commence the study pending the strategic process.
The company has over 780 active patent matters covering its CAB platform technology, with more than 500 issued patents in major markets.
Forward-looking statements in the release are subject to risks including the need for additional funding, clinical trial delays, & uncertainties regarding the strategic process outcome.