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BioAtla, Inc. (Nasdaq: BCAB) reported progress in its clinical trials and financial results for Q4 and full-year 2022. The company has cleared dose-limiting toxicity (DLT) observation periods for its CAB-AXL therapy (BA3011) in multiple studies, with significant readouts expected in the second half of 2023. Cash reserves stood at $215.5 million, sufficient for operations into 2025. However, the net loss increased to $106.5 million for 2022. BioAtla anticipates several milestones, including FDA interactions and the initiation of several Phase 2 trials, demonstrating a strong commitment to advancing its product candidates aimed at high unmet medical needs.
BioAtla, a clinical-stage biotechnology company, will host a conference call on March 23, 2023, at 4:30 p.m. ET to discuss its financial results for the fourth quarter and full year ending December 31, 2022. The company specializes in Conditionally Active Biologic (CAB) therapeutics aimed at treating solid tumors. This presentation will provide key business highlights and insights into its clinical programs, including two CAB candidates in Phase 2 trials.
Investors can access the results prior to the call on the company's website.
BioAtla, Inc. (Nasdaq: BCAB) announced the departure of President Scott Smith, who will become the CEO of Viatris. Smith, who joined BioAtla in 2018, will remain connected to the company as a Board member. The company expressed gratitude for his contributions, emphasizing his role in expanding operations and advancing clinical programs. BioAtla continues to develop its Conditionally Active Biologic (CAB) technology, applicable for solid tumors, and has two CAB programs in Phase 2 clinical testing. The company holds extensive patent coverage for its CAB technology with 704 patents worldwide.
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