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BioAtla (BCAB)
NASDAQ:BCAB
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BioAtla
(NASDAQ:BCAB)
44Neutral
Positive Factors
Regulatory Support
The FDA has shown support for a pivotal trial in HNSCC for BioAtla's ozuriftamab vedotin, which could potentially lead to accelerated approval.
Negative Factors
Financial Performance
BioAtla's financial results for 3Q24 reported a net loss, with R&D expenses exceeding estimates.
Pipeline Challenges
The development of mecbotamab vedotin (BA3011) for both undifferentiated pleomorphic sarcoma and non-small cell lung cancer indications has stalled.
BioAtla (BCAB) vs. S&P 500 (SPY)
Market Cap
$20.38M
Dividend YieldN/A
Average Volume (3M)838.97K
Price to Earnings (P/E)―
Beta (1Y)3.84
Revenue GrowthN/A
EPS Growth35.84%
CountryUS
Employees65
SectorHealthcare
Sector Strength74
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.70
Shares Outstanding58,024,730
10 Day Avg. Volume496,556
30 Day Avg. Volume838,972
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)1.54
Price to Cash Flow (P/CF)-0.80
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$5.00Price Target Upside1328.57% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering0
BioAtla Business Overview & Revenue Model
Company DescriptionBioAtla, Inc., a clinical stage biopharmaceutical company, develops specific and selective antibody-based therapeutics for the treatment of solid tumor cancer. Its lead product candidate is BA3011, a conditionally active biologic (CAB) antibody-drug conjugate (ADC) for soft tissue and bone sarcoma tumors, non-small cell lung cancer (NSCLC), and ovarian cancer. It also develops BA3021, a CAB ADC for multiple solid tumor types, including NSCLC, melanoma, and ovarian cancer; and BA3071, which is a CAB anti-cytotoxic T-lymphocyte-associated antigen 4 antibody for renal cell carcinoma, NSCLC, small cell lung cancer, hepatocellular carcinoma, melanoma, bladder cancer, gastric cancer, and cervical cancer. BioAtla, Inc. was founded in 2007 and is based in San Diego, California.
How the Company Makes MoneyBioAtla makes money primarily through the development and commercialization of its proprietary CAB antibodies. The company engages in collaborative partnerships with larger pharmaceutical firms, which provide upfront payments, milestone payments, and royalties upon successful development and commercialization of the therapies. Additionally, BioAtla may secure revenue through licensing agreements, allowing other companies to use its technology in exchange for licensing fees. These partnerships and licensing agreements are crucial revenue streams that support BioAtla's research and development activities.
BioAtla Financial Statement Overview
Summary
BioAtla is facing financial challenges, characterized by significant operational losses and negative cash flows. While there is some revenue growth, profitability and cash flow measures remain weak, suggesting the need for improved operational efficiency and cost management to achieve financial stability.Income Statement
The company shows significant net losses, with a net profit margin of -644.06% for TTM due to negative net income and limited revenue. Although there is a significant revenue growth from zero to $12.7 million in TTM, the substantial losses in EBIT and EBITDA margins indicate operational challenges.25
Negative
Balance Sheet
The company has a relatively low debt-to-equity ratio of 0.05 in TTM, signaling low leverage. However, the return on equity is negative due to persistent net losses. The equity ratio of 36.88% suggests a moderate level of financial stability.45
Neutral
Cash Flow
Free cash flow remains negative, indicating cash outflow concerns. The operating cash flow to net income ratio is 1.04, reflecting cash alignment with income loss but not indicating positive cash generation. The free cash flow growth rate is not applicable due to consistent negative values.30
Negative
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 12.71M | 0.00 | 0.00 | 250.00K | 429.00K | 5.20M | Gross Profit |
| 11.87M | -103.73M | -1.20M | -1.08M | 409.07K | 5.17M | EBIT |
| -86.23M | -129.69M | -108.14M | -96.44M | -30.10M | -28.27M | EBITDA |
| -85.40M | -122.24M | -106.48M | -94.07M | -33.46M | -27.36M | Net Income Common Stockholders |
| -81.82M | -123.46M | -105.28M | -95.41M | -37.24M | -31.40M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 80.63M | 111.47M | 215.51M | 244.98M | 238.60M | 3.70M | Total Assets |
| 89.20M | 119.66M | 225.74M | 254.42M | 244.94M | 9.34M | Total Debt |
| 1.92M | 2.46M | 3.98M | 5.37M | 682.00K | 18.12M | Net Debt |
| -78.71M | -109.01M | -211.53M | -239.61M | -237.92M | 14.42M | Total Liabilities |
| 39.48M | 48.99M | 45.40M | 43.60M | 34.96M | 65.35M | Stockholders Equity |
| 49.72M | 70.67M | 180.34M | 210.82M | 209.97M | -55.96M |
| Cash Flow | Free Cash Flow | ||||
| -85.08M | -104.11M | -90.69M | -63.14M | -36.92M | -11.15M | Operating Cash Flow |
| -85.08M | -104.02M | -90.42M | -62.21M | -36.33M | -9.64M | Investing Cash Flow |
| -8.00K | -98.00K | -265.00K | -924.00K | -590.00K | -1.51M | Financing Cash Flow |
| 198.12K | 77.00K | 61.21K | 69.51M | 271.82M | 4.00M |
BioAtla Technical Analysis
Neutral
0.35
Price Trends
0.41
Negative
0.93
Negative
1.32
Negative
Market Momentum
-0.02
Negative
47.68
Neutral
63.61
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BCAB, the sentiment is Neutral. The current price of 0.35 is above the 20-day moving average (MA) of 0.34, below the 50-day MA of 0.41, and below the 200-day MA of 1.32, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 47.68 is Neutral, neither overbought nor oversold. The STOCH value of 63.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for BCAB.
BioAtla Risk Analysis
BioAtla disclosed 80 risk factors in its most recent earnings report. BioAtla reported the most risks in the “Tech & Innovation” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
BioAtla Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
59 Neutral | $3.81B | ― | -31.41% | ― | 49.59% | 24.92% | |
49 Neutral | $6.94B | 0.66 | -52.58% | 2.47% | 22.65% | 0.94% | |
44 Neutral | $20.38M | ― | -139.06% | ― | ― | 35.84% | |
42 Neutral | $104.73M | ― | -54.21% | ― | -78.55% | -0.92% | |
42 Neutral | $13.28M | ― | -151.46% | ― | -95.23% | -325.89% | |
42 Neutral | $596.78M | ― | -17.48% | ― | ― | ― | |
37 Underperform | $155.67M | ― | 123.38% | ― | -42.30% | -9.33% |
* Healthcare Sector Average
Performance Comparison
BCAB
BioAtla
0.37
-1.96
-84.12%
FATE
Fate Therapeutics
0.94
-5.93
-86.32%
AFMD
Affimed
0.87
-4.32
-83.24%
ZLAB
Zai Lab
35.67
19.42
119.51%
ADCT
ADC Therapeutics
1.65
-2.55
-60.71%
IMTX
Immatics
5.00
-6.31
-55.79%
BioAtla Earnings Call Summary
Earnings Call Date: Nov 7, 2024 | % Change Since: -84.23% | Next Earnings Date: Mar 27, 2025
Earnings Call Sentiment Positive
The earnings call indicates significant progress in clinical trials and strategic collaborations, with promising results in key oncology programs and financial improvements. However, there are challenges in maintaining R&D spending and managing cash reserves.Highlights
Ozuriftamab Vedotin Fast Track Designation
The CAB-ROR2-ADC ozuriftamab vedotin was granted Fast Track designation by the FDA for treating refractory head and neck cancer, showing promising median duration of response and overall survival rates.
Evalstotug Phase II Melanoma Results
All 8 patients treated with evalstotug plus PD-1 showed tumor reduction, with 4 responders including 3 partial responses and 1 complete response, indicating a potential best-in-class CTLA-4 profile.
Mecbotamab Vedotin Encouraging Findings
Observations in non-small cell lung cancer patients with MK-RAS variants show a median overall survival of 12.6 months and a manageable safety profile, suggesting a potential pan-KRAS strategy.
Financial Improvements and Collaborations
Net loss decreased significantly to $10.6 million from $33.3 million year-over-year, supported by $11 million in collaboration revenue from a worldwide license agreement with Context Therapeutics.
Lowlights
Decrease in R&D Expenses
Research and development expenses decreased by $12 million compared to the previous year, reflecting the completion of preclinical developments and prioritization of clinical programs.
Cash Position Decline
Cash and cash equivalents decreased to $56.5 million from $111.5 million at the end of 2023, although expected to fund operations into early 2026.
Company Guidance
During the BioAtla third quarter 2024 earnings call, the company provided comprehensive guidance on their clinical programs and financial performance. Key metrics from their clinical trials included the CAB-ROR2-ADC ozuriftamab vedotin monotherapy for head and neck cancer, showing a median duration of response of 4.4 months and an overall survival of approximately 9 months. The CAB-CTLA-4 antibody evalstotug for melanoma achieved tumor reduction in all 8 patients, with 4 responders, including 1 complete response. Additionally, the CAB-AXL-ADC mecbotamab vedotin showed a median overall survival of 12.6 months for patients with mutant KRAS variants. Financially, BioAtla reported a net loss of $10.6 million for Q3 2024, compared to $33.3 million in Q3 2023, with cash and cash equivalents at $56.5 million as of September 30, 2024, projected to fund operations into early 2026.BioAtla Corporate Events
Private Placements and FinancingBusiness Operations and Strategy
BioAtla Secures $9.2M for Clinical Program Advancements
Positive
Dec 20, 2024
BioAtla, Inc. has entered into a securities purchase agreement with institutional investors to raise approximately $9.2 million through a registered direct offering of common stock and warrants. The proceeds will fund research and development, particularly for its mid-stage clinical programs, including BA3182 and mecbotamab vedotin, as well as support corporate operations and partnership activities. The offering, facilitated by Tungsten Advisors, underscores BioAtla’s strategic efforts to advance key clinical programs and strengthen its market positioning.
Product-Related AnnouncementsBusiness Operations and Strategy
BioAtla Highlights Advancements in CAB Cancer Therapy
Positive
Dec 20, 2024
BioAtla, Inc. has updated its corporate presentation to highlight its advancements in CAB technology for cancer therapy. The company emphasizes the clinical benefits of CAB technology, which targets the acidic microenvironment of tumor cells, thereby increasing selectivity and reducing side effects. BioAtla is progressing several clinical-stage programs with plans to continue development through early 2026, potentially enhancing its industry positioning and offering new therapeutic options for previously undruggable targets.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.