$BCAB

BioAtla, Inc.

CIK:0001826892|SEC Filings

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Collaboration and other revenue	$ 6,500	$ 0	$ 6,500	$ 0
Operating expenses:
Research and development expense (includes related party amounts of $975 for the three and six months ended June 30, 2026 and $0 for the three and six months ended June 30, 2025)	3,342	13,684	7,924	26,039
General and administrative expense	2,931	4,963	7,657	10,222
Total operating expenses	6,273	18,647	15,581	36,261
Income (loss) from operations	227	(18,647)	(9,081)	(36,261)
Other income (expense):
Interest income	16	233	53	633
Gain (loss) on warrant liability	220	(297)	2,894	1,583
Gain on PPAs liability	0	0	273	0
Other expense	(11)	0	(31)	0
Total other income (expense)	225	(64)	3,189	2,216
Net income (loss) and comprehensive income (loss)	$ 452	$ (18,711)	$ (5,892)	$ (34,045)
Net income (loss) per common share, basic	$ 0.27	$ (15.99)	$ (3.73)	$ (29.16)
Net income (loss) per common share, diluted	$ 0.27	$ (15.99)	$ (3.73)	$ (29.16)
Weighted-average shares of common stock outstanding, basic	1,660,586	1,170,087	1,581,554	1,167,550
Weighted-average shares of common stock outstanding, diluted	1,661,709	1,170,087	1,581,554	1,167,550

Unaudited Condensed Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net Income (Loss)	$ (5,892)	$ (34,045)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	120	298
Change in fair value of warrant liability	(2,894)	(1,583)
Change in fair value of PPAs	(273)	0
Stock-based compensation	1,575	3,022
Changes in operating assets and liabilities:
Accounts receivable	(2,000)	0
Prepaid expenses and other assets	181	(383)
Accounts payable and accrued expenses	3,087	2,535
Accounts payable and accrued expenses - related parties	300	0
Right-of-use assets and lease liabilities, net	110	(252)
Net cash used in operating activities	(5,686)	(30,408)
Cash flows from financing activities
Proceeds from issuance of common stock under SEPA	413	0
Payment of financing costs related to issuance of common stock, PPAs and SEPA	(289)	(444)
Proceeds from issuance of common stock under Employee Stock Purchase Plan	3	47
Payments for taxes related to net settlement of equity awards	(15)	(34)
Net cash provided by (used in) financing activities	112	(431)
Net decrease in cash and cash equivalents	(5,574)	(30,839)
Cash and cash equivalents, beginning of period	7,118	49,046
Cash and cash equivalents, end of period	1,544	18,207
Supplemental disclosure of non-cash investing and financing activities
Fair value of common stock issued in satisfaction of PPAs liability	3,869	0
Increase in right-of-use assets and operating lease liabilities resulting from contract modification	$ 0	$ 5,999

Condensed Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 1,544	$ 7,118
Accounts receivable	2,000	0
Prepaid expenses and other current assets	714	895
Total current assets	4,258	8,013
Property and equipment, net	0	120
Operating lease right-of-use asset, net	5,085	5,532
Other assets	163	163
Total assets	9,506	13,828
Current liabilities:
Accounts payable and accrued expenses (includes related party amounts of $300 and $0, respectively)	19,451	16,353
Operating lease liabilities	1,570	1,427
PPAs liability	0	4,142
Total current liabilities	21,021	21,922
Operating lease liabilities, less current portion	4,293	4,773
Liability to licensor	19,806	19,806
Warrant liability	622	3,516
Total liabilities	45,742	50,017
Commitments and contingencies (Note 6)
Stockholders' equity (deficit):
Preferred stock, $0.0001 par value; 200,000,000 shares authorized at June 30, 2026 and December 31, 2025; 0 shares issued and outstanding at June 30, 2026 and December 31, 2025	0	0
Common stock value	0	0
Additional paid-in capital	515,302	509,457
Accumulated deficit	(551,538)	(545,646)
Total stockholders' equity (deficit)	(36,236)	(36,189)
Total liabilities and stockholders' equity (deficit)	9,506	13,828
Class B Common Stock
Stockholders' equity (deficit):
Common stock value	$ 0	$ 0