BioAtla
Developer of pH-sensitive CAB oncology biologics.
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Profile
Develops CAB cancer biologics whose pH-sensitive antibodies are designed to favor tumor tissue, with candidates spanning T-cell engagers, antibody-drug conjugates, and checkpoint modulation. Revenue prospects depend on licensing, collaborations, and asset transactions rather than drug sales.
Develops conditionally active cancer biologics through its CAB platform, which uses reversible, pH-sensitive binding to favor the acidic tumor microenvironment over normal tissue. The principal portfolio includes BA3182, an EpCAM-by-CD3 T-cell engager; ozuriftamab vedotin, a ROR2 antibody-drug conjugate; mecbotamab vedotin, an AXL antibody-drug conjugate; and evalstotug, an anti-CTLA-4 antibody.
Operates as a San Diego-centered research, clinical-development, intellectual-property, and licensing organization with global development rights granted through collaborations. It has no approved products or product-sales revenue, outsources manufacturing and other supply-chain functions, and is evaluating asset sales, licenses, partnerships, and corporate transactions while enrollment is paused in its only ongoing study.
Company facts
Key statistics
Year to date −93.4% · Average volume (30d) 96.4K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating |
|---|---|---|---|---|
| Aug 13, 2025 | JMP Securities | Downgrade | Market Outperform | Market Perform |
| Nov 13, 2024 | HC Wainwright & Co. | Downgrade | Buy | Neutral |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 13, 2026Q2 FY26 | −$8.50 | $0.27 | +103.2% | $6.5M | $6.5M | 0.0% | +2.07% |
| May 15, 2026Q1 FY26 | −$10.00 | −$6.18 | +38.2% | — | — | — | −8.20% |
| Mar 31, 2026Q4 FY25 | −$12.00 | −$8.00 | +33.3% | $700.0K | $2.0M | +185.7% | −16.40% |
| Nov 13, 2025Q3 FY25 | −$0.31 | −$0.27 | +12.9% | — | — | — | +19.73% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $2.0M | $0 | $6.5M | |
| Gross profit | −$183.0K | −$567.0K | −$9.5M | $2.8M | −$120.0K | $6.5M | |
| Operating income | −$17.6M | −$18.6M | −$13.8M | −$9.3M | −$8.8M | $227.0K | |
| Net income | −$15.3M | −$18.7M | −$15.8M | −$9.8M | −$6.3M | $452.0K | |
| Diluted EPS | −$13.00 | −$16.00 | −$13.50 | −$8.00 | −$4.22 | $0.27 | |
| Gross margin | — | — | — | 140.3% | — | 100.0% | |
| Operating margin | — | — | — | -462.8% | — | 3.5% |
Fiscal years (4-quarter sums)FY21 $250.0K · FY22 $0 · FY23 $0 · FY24 $11.0M · FY25 $2.0M
Balance sheet, Jun 30, 2026Cash & short-term investments $1.5M · Total debt $5.9M · Total assets $9.5M · Shareholders' equity −$36.2M
Dividends
No dividends on record.
Ownership
Shares outstanding 1.66M · Float 1.37M · 82.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Jay M. Phd Short · director, officer: Chief Executive Officer | 52.3K | 3.15% | Form 4 | Jun 5, 2026 |
| Eric Sievers · officer: Chief Medical Officer | 11.8K | 0.71% | Form 4 | Jun 5, 2026 |
| Christian Vasquez · officer: Chief Financial Officer | 10.3K | 0.62% | Form 4 | Jun 5, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
View detailsPeers
- CytomX Therapeutics
Closest public rival in conditionally activated oncology biologics.
- Bristol-Myers Squibb
CTLA-4 incumbent across overlapping head-and-neck and lung settings.
- Janux Therapeutics
Tumor-activated T-cell-engager platform rival in solid tumors.
- Pfizer
Marketed Nectin-4 ADC establishes the direct target benchmark.
- Merck
PD-1 treatment incumbent in the key head-and-neck and lung settings.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| BioAtla | $1.76 | −0.56% | $2.9M | — | — | 0.3 | — |
| CytomX Therapeutics | $3.20 | −0.47% | $698.8M | — | — | 38.2 | −92.4% |
| Bristol-Myers Squibb | $66.60 | +0.05% | $136.00B | 14.7 | 10.5 | 2.8 | +5.7% |
| Janux Therapeutics | $18.10 | +0.50% | $1.10B | — | — | 34.5 | — |
| Pfizer | $27.95 | −0.04% | $159.36B | 36.9 | 10.0 | 2.5 | +2.6% |
| Merck | $148.19 | −0.08% | $366.18B | 118.7 | 17.2 | 5.5 | +5.1% |
| Median | 36.9 | 10.5 | 5.5 | +3.8% |