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BioAtla Inc. (BCAB-12.43%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a net loss of $69.8 million for the year, compared to $123.5 million in the previous year. The decrease in net loss is attributed to reduced research and development expenses.
Research and development expenses decreased to $63.1 million from $103.7 million, primarily due to reduced costs associated with clinical trials and manufacturing for its lead product candidates.
General and administrative expenses also decreased to $21.8 million from $26.0 million, largely due to lower stock-based compensation and insurance costs.
Revenue for the year was $11.0 million, recognized from a licensing agreement with Context Therapeutics for the Nectin-4 x CD3 T cell engaging bispecific antibody.
BioAtla's cash and cash equivalents totaled $49.0 million as of December 31, 2024. The company anticipates that its existing cash resources may not be sufficient to fund operations for the next twelve months, raising substantial doubt about its ability to continue as a going concern.
The company plans to seek additional capital through equity or debt financings, collaborations, or other strategic transactions to support its ongoing operations and development programs.
BioAtla continues to focus on the development of its proprietary CAB technology platform, with several product candidates in various stages of clinical trials targeting solid tumor cancers.
The filing outlines potential risks, including the need for additional funding, the success of clinical trials, and the ability to obtain regulatory approvals for its product candidates.
BioAtla's management remains committed to advancing its lead product candidates through clinical development and exploring strategic partnerships to maximize the value of its technology platform.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the BioAtla Inc. annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.