The following is a summary of the BioAtla, Inc. (BCAB) Q1 2024 Earnings Call Transcript:
Financial Performance:
BioAtla reported R&D expenses of $18.9 million for Q1 2024, down from $21.7 million in Q1 2023 due to the completion of preclinical development related to their Nectin-4 IND and the prioritization of their clinical programs.
General and administrative expenses were at $5.6 million, down from $7.2 million for the same quarter in 2023.
BioAtla had a net loss of $23.2 million for Q1 2024, compared to a net loss of $27.4 million in Q1 2023. As of the end of March 2024, their cash and cash equivalents were $80.6 million, declining from $111.5 million at the close of 2023.
Business Progress:
Considerable progress was made in BioAtla's CAB-ROR2-ADC trial with 38% of patients responding positively. The company plans to meet with the FDA in the second half of 2024 to discuss a potentially registrational trial.
The company has been conducting a Phase 1/2 trial of the CAB CTLA-4 IO antibody and has observed few immune-related adverse events.
BioAtla received FDA clearance for CAB Nectin-4 ADC and is deciding on evaluation options. The company is further developing a NextGen carbohydrate linker system to reduce risks associated with neutropenia and off-target toxicity.
More details: BioAtla IR
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