Bioatla, Inc. (BCAB)
NASDAQ:BCAB
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BioAtla
(NASDAQ:BCAB)
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Rating:42Neutral
Price Target:
$3.50
▲(1742.11% Upside)
Action:Reiterated
Date:05/16/26
The score is driven primarily by weak financial performance (large losses, significant cash burn, and negative equity) and a clearly bearish technical trend (price below key moving averages and negative MACD). Valuation offers little insight given the non-meaningful P/E and missing dividend yield, while corporate events add risk due to restructuring, strategic uncertainty, and listing/financing pressures.
Positive Factors
Proprietary CAB platform
BioAtla’s Conditionally Active Biologic (CAB) platform is a structural competitive asset: antibodies preferentially activated in tumor microenvironments can materially reduce systemic toxicity. That technological differentiation creates a durable moat that supports long-term partner interest, licensing, and premium positioning for oncology therapeutics.
Negative Factors
Heavy cash burn
Persistent, large cash outflows create a structural financing need. With TTM OCF at -$37.3M and FCF -$23.1M the company must rely on external financing or asset monetization to sustain operations. That chronic burn elevates dilution risk and makes multi-period execution of trials contingent on successful capital-raising or partnerships.
Read all positive and negative factors
Positive Factors
Negative Factors
Proprietary CAB platform
BioAtla’s Conditionally Active Biologic (CAB) platform is a structural competitive asset: antibodies preferentially activated in tumor microenvironments can materially reduce systemic toxicity. That technological differentiation creates a durable moat that supports long-term partner interest, licensing, and premium positioning for oncology therapeutics.
Read all positive factors
BioAtla (BCAB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.12M
Dividend YieldN/A
Average Volume (3M)35.48K
Price to Earnings (P/E)―
Beta (1Y)1.96
Revenue Growth-81.82%
EPS Growth31.28%
CountryUS
Employees61
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-41.72
Shares Outstanding1,659,612
10 Day Avg. Volume34,150
30 Day Avg. Volume35,482
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)-0.92
Price to Sales (P/S)16.70
P/FCF Ratio-0.69
Enterprise Value/Market Cap1.43
Enterprise Value/Revenue4.39
Enterprise Value/Gross Profit4.15
Enterprise Value/Ebitda-0.18
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-46
Revenue Forecast (FY)N/A
BioAtla Business Overview & Revenue Model
Company Description
BioAtla, Inc., a clinical stage biopharmaceutical company, develops specific and selective antibody-based therapeutics for the treatment of solid tumor cancer. Its lead product candidate is BA3011, a conditionally active biologic (CAB) antibody-dr...
How the Company Makes Money
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BioAtla Earnings Call Summary
Earnings Call Date:Nov 13, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The earnings call highlighted significant progress in clinical trials, strategic transactions, and market potential for BioAtla's programs, with robust data supporting their CAB platform's potential. However, financial challenges were noted, including increased net loss and decreased cash reserves.Positive Updates
FDA Alignment on Phase Three Trial Design
BioAtla achieved FDA alignment on the phase three OSV registrational trial design for OPSCC, which includes a dual primary endpoints design for potential accelerated approval followed by full approval.
Negative Updates
Increased Net Loss
Reported a net loss of $15.8 million for the third quarter of 2025, compared to a net loss of $10.6 million in the same quarter of 2024, primarily due to collaboration revenue recorded in 2024 and a non-cash loss on warrant liability in 2025.
Read all updates
Q3-2025 Updates
Positive
Negative
FDA Alignment on Phase Three Trial Design
BioAtla achieved FDA alignment on the phase three OSV registrational trial design for OPSCC, which includes a dual primary endpoints design for potential accelerated approval followed by full approval.
Read all positive updates
Company Guidance
During BioAtla, Inc.'s third quarter 2025 earnings call, the company provided several key metrics and updates. They are in advanced stages of finalizing a strategic transaction with a potential partner by year-end. The FDA has aligned with their phase three OSV registrational trial design for second-line plus oropharyngeal squamous cell carcinoma (OPSCC), targeting dual primary endpoints of overall response rate and overall survival, with potential for accelerated approval. The estimated worldwide peak sales for their OSFI product in second-line OPSCC alone are approximately $800 million, with the total OPSCC market projected to reach $3 billion by 2032. They reported a net loss of $15.8 million for the quarter, an increase from a $10.6 million net loss in the same quarter of 2024. BioAtla, Inc. had $8.3 million in cash and cash equivalents as of September 30, 2025, and expects R&D expenses to decline as they concentrate resources on prioritized programs.BioAtla Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
18
Very Negative
Cash Flow
10
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.00M | 2.00M | 11.00M | 0.00 | 0.00 | 250.00K |
| Gross Profit | 2.12M | 2.00M | 10.07M | -1.22M | -1.20M | 250.00K |
| EBITDA | -48.57M | -58.93M | -73.02M | -122.24M | -105.28M | -94.07M |
| Net Income | -50.62M | -59.61M | -69.78M | -123.46M | -105.28M | -95.40M |
Balance Sheet | ||||||
| Total Assets | 8.57M | 13.83M | 52.42M | 119.66M | 225.74M | 254.42M |
| Cash, Cash Equivalents and Short-Term Investments | 1.96M | 7.12M | 49.05M | 111.47M | 215.51M | 244.98M |
| Total Debt | 6.09M | 6.20M | 836.00K | 2.46M | 3.98M | 5.37M |
| Total Liabilities | 45.88M | 50.02M | 38.16M | 48.99M | 45.40M | 43.60M |
| Stockholders Equity | -37.31M | -36.19M | 14.27M | 70.67M | 180.34M | 210.82M |
Cash Flow | ||||||
| Free Cash Flow | -23.06M | -48.20M | -71.94M | -104.11M | -90.69M | -63.14M |
| Operating Cash Flow | -37.26M | -48.20M | -71.94M | -104.02M | -90.42M | -62.21M |
| Investing Cash Flow | 0.00 | 0.00 | 0.00 | -98.00K | -265.00K | -924.00K |
| Financing Cash Flow | 6.86M | 6.28M | 9.51M | 77.00K | 61.21M | 69.51M |
BioAtla Technical Analysis
Negative
0.19
Price Trends
5.56
Negative
9.50
Negative
21.96
Negative
Market Momentum
-0.51
Negative
34.89
Neutral
23.25
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 0.19 is below the 20-day moving average (MA) of 4.25, below the 50-day MA of 5.56, and below the 200-day MA of 21.96, indicating a bearish trend. The MACD of -0.51 indicates Negative momentum. The RSI at 34.89 is Neutral, neither overbought nor oversold. The STOCH value of 23.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BCAB.
BioAtla Risk Analysis
BioAtla disclosed 91 risk factors in its most recent earnings report. BioAtla reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
BioAtla Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $407.60M | -2.26 | -53.23% | ― | -100.00% | -290.26% | |
46 Neutral | $39.57M | -1.16 | -0.97% | ― | ― | 21.67% | |
45 Neutral | $37.02M | -1.41 | -218.67% | ― | ― | 48.96% | |
42 Neutral | $6.12M | -0.48 | 166.67% | ― | -81.82% | 31.28% | |
| ― | $77.82M | -1.76 | -4.03% | ― | ― | 16.55% |
* Healthcare Sector Average
BCAB
BioAtla
3.69
-15.81
-81.08%
ATNM
Actinium Pharmaceuticals
1.18
-0.46
-28.05%
LTRN
Lantern Pharma
3.50
0.60
20.69%
IPSC
Century Therapeutics
2.26
1.70
305.02%
MAIA
MAIA Biotechnology, Inc.
1.28
-0.50
-28.09%
BioAtla Corporate Events
M&A TransactionsRegulatory Filings and ComplianceStock Split
BioAtla Announces 1-for-50 Reverse Stock Split Merger
Neutral
Apr 2, 2026
On April 2, 2026, BioAtla filed a certificate of merger in Delaware to implement a previously approved Agreement and Plan of Merger between the company and its wholly owned subsidiary, BA Merger Sub, Inc., which had been adopted by the board and e...
Business Operations and StrategyFinancial Disclosures
BioAtla Begins Strategic Review Following 2025 Results
Negative
Mar 31, 2026
On March 31, 2026, BioAtla reported fourth-quarter and full-year 2025 results and outlined major strategic actions, including a formal process launched on March 2, 2026 to explore monetization of preclinical and clinical assets, licensing deals, p...
M&A TransactionsShareholder MeetingsStock Split
BioAtla Shareholders Approve Merger and Share Consolidation
Neutral
Mar 23, 2026
On March 23, 2026, BioAtla reconvened a special shareholder meeting originally convened on March 2, 2026, with approximately 68% of outstanding common shares represented in person virtually or by proxy. At this meeting, stockholders approved the A...
Business Operations and StrategyExecutive/Board ChangesDelistings and Listing ChangesPrivate Placements and FinancingRegulatory Filings and Compliance
BioAtla launches major restructuring and leadership transition
Negative
Mar 2, 2026
On March 2, 2026, BioAtla disclosed that it had committed on February 24, 2026, to a restructuring that will cut its workforce by about 70% in a bid to contain costs as the board conducts a formal review of strategic options, including asset sales...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.