earnings
confidence high
sentiment negative
materiality 0.70
BioAtla Q3 net loss $33.3M; FDA backs registrational path for BA3011 in NSCLC
BioAtla, Inc.
2023-Q3 EPS reported
-$2.02
- Net loss widened to $33.3M in Q3 2023 from $25.8M a year ago, driven by a 43% rise in R&D costs.
- Cash fell to $141.3M at Sep 30, down from $215.5M at Dec 31 2022; now expected to fund operations into 2H 2025.
- FDA supportive of registrational path for CAB-AXL-ADC (BA3011) in NSCLC; detailed Phase 2 data to be presented in early December.
- New partial responses observed with CAB-ROR2-ADC (BA3021) in melanoma and head & neck cancer at Phase 2.
- Phase 2 for CAB-CTLA-4 (BA3071) initiated with first patient in; Phase 1 data and R&D Day on Dec 13.