BioAtla (BCAB) AI Stock Analysis

• Market Cap: $16.36M
• Dividend Yield: N/A
• Average Volume (3M): 768.41K
• Price to Earnings (P/E): ―
• Beta (1Y): 3.50
• Revenue Growth: N/A
• EPS Growth: 44.38%
• Country: US
• Employees: 61
• Sector: Healthcare
• Sector Strength: 76
• Industry: Biotechnology
• EPS (TTM): -1.44
• Shares Outstanding: 58,401,146
• 10 Day Avg. Volume: 759,644
• 30 Day Avg. Volume: 768,413
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 1.54
• Price to Cash Flow (P/CF): -0.80
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $5.50
• Price Target Upside: 1864.29% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

BioAtla's stock score is primarily impacted by its challenging financial performance and negative valuation metrics. The positive clinical advancements and strategic plans discussed in the earnings call provide some optimism, but the overall financial situation remains a significant concern. Technical indicators also point to weak momentum and high volatility.

Positive Factors

Clinical Trials

The drug was well-tolerated and demonstrated tumor reduction in multiple patients.

Partnership Discussions

Partnership discussions for Evalstotug are ongoing, with multiple discussions taking place, which could lead to positive developments for the company.

Regulatory Progress

The FDA has shown support for a pivotal trial in HNSCC for BioAtla's ozuriftamab vedotin, which could potentially lead to accelerated approval.

Negative Factors

Development Challenges

The development of mecbotamab vedotin (BA3011) for both undifferentiated pleomorphic sarcoma and non-small cell lung cancer indications has stalled.

Financial Overhang

BioAtla could face a near-term financial overhang with current cash likely insufficient to support completion of a registrational study for its Phase 2 candidates.

Pipeline Uncertainty

There are few meaningful catalysts from the company’s pipeline in the next 12 months, potentially deteriorating its financial strength.

BioAtla Business Overview & Revenue Model

Company Description

BioAtla, Inc. (BCAB) is a biotechnology company focused on the development of Conditionally Active Biologic (CAB) antibody therapeutics. The company operates primarily in the biopharmaceutical sector, leveraging its proprietary CAB technology to create therapies that are activated under specific physiological conditions, enhancing safety and efficacy. BioAtla's core products include a pipeline of CAB antibody candidates aimed at treating various cancers, with a focus on improving patient outcomes through innovative therapeutic solutions.

How the Company Makes Money

BioAtla makes money primarily through the development and commercialization of its CAB antibody therapeutics. The company's revenue model includes partnerships and collaborations with other pharmaceutical companies for the development and potential commercialization of its drug candidates. These partnerships often involve upfront payments, milestone payments upon achieving certain development or regulatory goals, and potential royalties on future sales of approved therapies. BioAtla may also generate revenue through licensing agreements that allow other companies to use its proprietary technology in their therapeutic development. Additionally, BioAtla may seek funding through public and private investments to support its research and development activities.

BioAtla Financial Statement Overview

Summary

BioAtla's financial performance reflects typical challenges of development-stage biotech firms, with no revenue and consistent operating losses. The low debt is a positive aspect, but declining equity and negative cash flows raise concerns.

Income Statement

BioAtla has reported zero revenue in the most recent year, reflecting a significant challenge in generating sales. The company has incurred consistent operating losses, which is typical for early-stage biotech firms. There is no gross profit or net profit margin due to lack of revenue, and the EBIT and EBITDA margins are negative, indicating ongoing operational challenges.

Balance Sheet

BioAtla's financial leverage appears low, with minimal total debt, resulting in a low debt-to-equity ratio. However, the company has experienced a significant decline in equity over the years, reducing its equity ratio. The return on equity is not meaningful due to negative net income and fluctuating equity levels, raising concerns about shareholder value creation.

Cash Flow

The company consistently reports negative operating and free cash flows, reflecting the high cash burn typical of development-stage biotechnology companies. The free cash flow growth rate is negative, indicating increasing cash outflows. The operating cash flow to net income ratio is unavailable due to zero revenue, highlighting the need for external financing to sustain operations.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
12.71M	0.00	0.00	0.00	250.00K	429.00K
	Gross Profit
11.87M	0.00	-103.73M	-1.20M	-1.08M	409.07K
	EBIT
-86.23M	-73.94M	-129.69M	-108.14M	-96.44M	-30.10M
	EBITDA
-85.40M	-73.94M	-122.24M	-106.48M	-94.07M	-33.46M
	Net Income Common Stockholders
-81.82M	0.00	-123.46M	-105.28M	-95.41M	-37.24M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
238.60M	49.05M	111.47M	215.51M	244.98M	238.60M
	Total Assets
244.94M	52.42M	119.66M	225.74M	254.42M	244.94M
	Total Debt
682.00K	836.00K	2.46M	3.98M	5.37M	682.00K
	Net Debt
-237.92M	-48.21M	-109.01M	-211.53M	-239.61M	-237.92M
	Total Liabilities
34.96M	38.16M	48.99M	45.40M	43.60M	34.96M
	Stockholders Equity
209.97M	14.27M	70.67M	180.34M	210.82M	209.97M
Cash Flow		Free Cash Flow
-85.08M	-71.94M	-104.11M	-90.69M	-63.14M	-36.92M
	Operating Cash Flow
-85.08M	-71.94M	-104.02M	-90.42M	-62.21M	-36.33M
	Investing Cash Flow
-8.00K	0.00	-98.00K	-265.00K	-924.00K	-590.00K
	Financing Cash Flow
198.12K	9.51M	77.00K	61.21K	69.51M	271.82M

BioAtla Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.28
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BCAB, the sentiment is Negative. The current price of 0.28 is below the 20-day moving average (MA) of 0.35, below the 50-day MA of 0.39, and below the 200-day MA of 1.27, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 43.44 is Neutral, neither overbought nor oversold. The STOCH value of 62.96 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BCAB.

BioAtla Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ZLAB	59 Neutral	$4.07B	―	-31.41%	―	49.59%	24.92%
Sector *	48 Neutral	$6.36B	1.09	-49.92%	2.63%	17.17%	0.95%
IMTX	45 Neutral	$425.43M	43.42	3.73%	―	188.64%	―
FATE	42 Neutral	$86.28M	―	-54.21%	―	-78.55%	-0.92%
AFMD	42 Neutral	$8.68M	―	-151.46%	―	-95.23%	-325.89%
ADCT	41 Neutral	$116.92M	―	123.38%	―	1.84%	43.40%
BCAB	31 Underperform	$16.36M	―	-164.30%	―	―	44.38%

BioAtla Corporate Events

BioAtla Awards Executive Bonuses and Stock Units

On March 11 and 12, 2025, BioAtla, Inc.’s Board of Directors approved cash bonuses for their executive officers based on the company’s achievement of clinical and business milestones in 2024. The bonuses, reflecting 62.5% of the target bonus, were awarded to Richard Waldron, Eric Sievers, and Jay Short, the company’s CFO, CMO, and CEO, respectively. Additionally, the Board granted restricted stock units (RSUs) to these executives under the company’s 2020 Equity Incentive Plan, which will vest over a period starting March 2026, contingent on continued service with the company.