BioAtla Inc 2025年季度报告

(Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the quarterly period endedMarch 31,2025OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the transition period fromtoCommission File Number:001-39787 BIOATLA, INC. (Exact Name of Registrant as Specified in its Charter) Registrant’s telephone number, including area code: (858)558-0708 Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) hasbeen subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was requiredto submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Non-accelerated filer☒Emerging growth company☐ Accelerated filer☐ Smaller reporting company☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ As of May 2, 2025 the number of shares of the registrant’s common stock outstanding was58,418,142andthe number of shares of theregistrant’s Class B common stock outstanding was0. BIOATLA, INC.Quarterly Report on Form 10-Q Table of Contents PART I.FINANCIAL INFORMATIONItem 1.Financial Statements:1Condensed Balance Sheets as of March 31, 2025 (unaudited) and December 31, 20241Condensed Statements of Operations and Comprehensive Loss (unaudited) for the three months ended March 31, 2025 and20242Condensed Statements of Stockholders’ Equity (unaudited) for the three months ended March 31, 2025 and 20243Condensed Statements of Cash Flows (unaudited) for the three months ended March 31, 2025 and 20244Notes to Condensed Financial Statements (unaudited)5Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations15Item 3.Quantitative and Qualitative Disclosures About Market Risk20Item 4.Controls and Procedures20PART II.OTHER INFORMATION21Item 1.Legal Proceedings21Item 1A.Risk Factors21Item 2.Unregistered Sales of Equity Securities and Use of Proceeds67Item 3.Defaults Upon Senior Securities67Item 4.Mine Safety Disclosures67Item 5.Other Information67Item 6.Exhibits68SIGNATURES69 PART I—FINANCIAL INFORMATION BioAtla, Inc.CondensedBalance Sheets(in thousands, except par value and share amounts) BioAtla, Inc.Unaudited Condensed Statements of Operations and Comprehensive Loss(in thousands, except share and per share amounts) BioAtla, Inc.Unaudited Condensed Statements of Stockholders’ Equity(in thousands, except share amounts) BioAtla, Inc.Unaudited CondensedStatements of Cash Flows(in thousands) BioAtla, Inc.Notes to Unaudited CondensedFinancial Statements 1. Organization and Summary of Significant Accounting Policies Organization BioAtla, LLC was formed inDelawareinMarch 2007and was converted to a Delaware corporation in July 2020 andrenamed BioAtla, Inc. (the “Company”). The Company has a proprietary platform for creating biologics, including its conditionallyactive biologics (“CAB” or “CABs”). CABs have been designed to be active only under certain conditions found in diseased tissue,while remaining inactive in normal tissue. The Company is currently in clinical development of several CAB drug candidatesincluding: its two lead CAB antibody drug conjugates (“CAB ADC”), mecbotamab vedotin (BA3011), a CAB ADC targeting AXLand ozuriftamab vedotin (BA3021), a CAB ADC targeting ROR2; evalstotug (BA3071), a CAB anti-CTLA-4 antibody; andBA3182 (CAB-EpCAM x CAB-CD3), a CAB bispecific antibody targeting EpCAM. Basis of Presentation The unaudited condensed financial statements as of March 31, 2025, and for the three months ended March 31, 2025 and2024, have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”), andwith accounting principles generally accepted in the United States (“GAAP”) applicable to interim financial statements. Theseunaudited condensed financial statements have been prepared on the same basis as the audited financial statements and include alladjustments, consis