we recently received a Fast Track designation from the FDA, which represents an important recognition of the potential of a ozuriftamab vedotin to potentially fill a significant unmet need in refractory head and neck cancer.
— Dr. Jay Short
03Detailed Report
BCAB
Company BCAB
Period
Q2 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 17, 2026
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Executive Summary
BioAtla Inc. (BCAB) reported its QQ2 2024 results for the quarter ended June 30, 2024 with no revenue but meaningful cash runway and a diversified CAB (conditioned Activity biologic) pipeline targeting solid tumors. The company posted a net loss of $21.1 million for the quarter, an improvement versus the prior-year period, driven by a substantial reduction in R&D expenditures (down to $16.2 million from $31.0 million year-over-year) and continued discipline on operating costs. Total operating expenses were $21.7 million for the quarter, with R&D representing the majority of spend and G&A modestly reduced year-over-year. Cash and cash equivalents totaled $61.7 million at June 30, 2024, providing a runway through the third quarter of 2025, according to management guidance, to fund readouts across multiple CAB programs and to advance strategic collaboration discussions.
Key Performance Indicators
Operating Income
Increasing
-21.97M
QoQ: 10.16% | YoY: 40.94%
Net Income
Increasing
-21.07M
QoQ: 9.31% | YoY: 41.06%
EPS
Increasing
-0.44
QoQ: 8.33% | YoY: 41.33%
Revenue Trend
Margin Analysis
Financial Highlights
Financial snapshot (as of 06/30/2024):
- Revenue: None reported (pre-revenue stage)
- Gross Profit: -$0.229 million; Gross Margin not disclosed
- R&D Expenses: $16.198 million (vs. $31.0 million in 2023 Q2)
- General & Administrative: $5.774 million (vs. $6.205 million 2023 Q2)
- Selling, General & Administrative: $5.545 million (included in SG&A)
- Operating Expenses: $21.743 million
- EBITDA: -$21.972 million; Operating Income: -$21.972 million
- Net Income: -$21.072 million; EPS: -$0.44
- Weighted Avg Shares: 48.214 million
- Cash & Cash Equivalents: $61.662 million
- Net cash used in operating activities: -$19.193 million for the six months ended 06/30/2024
- Net Change in Cash (quarter): -$18.968 million; Cash at end of period: $61.662 million
- Balance sheet: Total Assets $68.638 million; Total Liabilities $37.268 million; Total Stockholders’ Equity $31.370 million; Net Debt: -$60.0 million (net cash)
- Liquidity/Runway: Sufficient to fund planned operations through 3Q2025 per management guidance
- Selected efficiency/ratio metrics: Current Ratio 3.81; Debt/Equity 0.053; Cash per share ~$1.28; Price/Book ~2.07 (per period indicators)
- YoY changes (where available): Net loss improved to -$21.1m in 2024 Q2 from -$35.8m in 2023 Q2; R&D expense declined significantly (from $31.0m to $16.2m) driven by completion of preclinical programs and end of Phase 2 enrollment in certain ADC trials.
Income Statement
Metric
Value
YoY Change
QoQ Change
Gross Profit
-229.00K
21.03%
4.58%
Operating Income
-21.97M
40.94%
10.16%
Net Income
-21.07M
41.06%
9.31%
EPS
-0.44
41.33%
8.33%
Key Financial Ratios
Return on Assets
Weak
-0.31%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
-0.67%
Return on equity suggests inefficient capital allocation
Current Ratio
Strong
3.81
Current ratio indicates excellent liquidity and financial flexibility
Debt to Equity
Conservative
0.05
Debt-to-equity shows conservative leverage and low financial risk
P/E Ratio
Negative
-0.77x
Negative earnings make P/E ratio not meaningful
Price to Book
Fair Value
2.07x
Price-to-book ratio reasonable for profitable companies
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