Start here if you're new
what it is
BioAtla makes antibody drugs for solid-tumor cancer.
how it gets paid
Last year Bioatla made $11M in revenue. Ozuriftamab vedotin was the main engine at $3.3M, or 30% of sales.
what just happened
Latest quarter EPS was -$0.85, worse than the prior year’s -$0.27.
At a glance
C+ balance sheet — struggling to keep the lights on
-$1.44 fy2024 eps est
$11M fy2024 rev est
1.9 beta
~$13M market cap
xvary composite: 29/100 — weak
What they do
BioAtla makes antibody drugs for solid-tumor cancer.
You are not buying a factory. You are buying 4 product candidates and 61 employees. The bet is simple: antibodies that stay quiet in normal tissue and wake up in tumors. That is the whole pitch, and the whole risk.
How they make money
$11M
annual revenue
Ozuriftamab vedotin
$3.3M
Mecbotamab vedotin
$3.0M
BA3071
$2.4M
BA3182
$2.3M
The products that matter
lead clinical asset
evalstotug (ba3071)
lead value driver
this is the program most likely to matter in a sale or partnership discussion. When the whole company is worth $13M, one credible data readout can outweigh an entire quarter of normal corporate activity.
catalyst watch
licensing and asset-sale story
cab platform
strategic review asset
after a 70% staff cut, this matters less as a long-duration promise and more as something management needs to sell, license, or partner on terms that actually buy time.
deal-dependent
Key numbers
$13M
market cap
The whole company trades for about $13M. That is smaller than a lot of parking lots.
$11M
TTM revenue
Revenue is $11M, so the stock market values the business at barely more than one year of sales.
1.9
beta
The stock moves about 90% more than the market. Your screen time will not be calm.
$5M
debt
Long-term debt is $5M. For a $13M company, that is real money.
Financial health
C+
strength
- balance sheet grade C+ — weak — may struggle to fund operations
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $5M (27% of capital)
C+ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for BCAB right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Latest quarter EPS was -$0.85, worse than the prior year’s -$0.27.
EDGAR shows another loss, and the vs. prior year drop was 215%. Revenue was not disclosed in the filing snippet, so the main takeaway is that the business is still burning cash.
$11M
revenue
-$0.85
eps
n/a
n/a
EPS loss
The quarter lost $0.85 per share. That is worse than the $0.27 loss a year ago, so the trend points the wrong way.
source: company earnings report, 2025
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What could go wrong
BCAB is not facing abstract biotech risk. It is facing a very specific race: can management land a partner, license, or asset sale before cash pressure takes the choice away.
med
cash gets the final vote
a C+ balance sheet and a 70% staff cut tell you the company is already in preservation mode. If the strategic review drags, the negotiating position usually gets worse, not better.
a C+ balance sheet and a 70% staff cut tell you the company is already in preservation mode. If the strategic review drags, the negotiating position usually gets worse, not better.
med
ba3071 has to stay credible
the lead program is one of the few obvious reasons a buyer or partner would engage. If further results disappoint, the value of the entire equity can compress fast.
the lead program is one of the few obvious reasons a buyer or partner would engage. If further results disappoint, the value of the entire equity can compress fast.
med
small financing, big damage
with a $13M market cap, even a modest capital raise can be brutal for existing holders. That is the math of distressed microcaps.
with a $13M market cap, even a modest capital raise can be brutal for existing holders. That is the math of distressed microcaps.
med
this barely behaves like a normal stock
price stability is just 5 / 100 and the 52-week range is $0–$1. Expect sharp moves on thin information and even thinner liquidity.
price stability is just 5 / 100 and the 52-week range is $0–$1. Expect sharp moves on thin information and even thinner liquidity.
combined, these risks put the whole equity in play. There is already $5M of long-term debt on the balance sheet, and the company is only worth about $13M in the market. If you own this, you own the timing risk as much as the science.
source: institutional data · regulatory filings · risk analysis
Pay attention to
priority risk
the strategic review needs proof of traction
management is exploring sales, licensing, or partnerships. If that process produces nothing, the next conversation usually becomes financing on weaker terms.
calendar
the next update expected around march 25, 2026
this is where you look for post-restructuring cash detail, commentary on strategic alternatives, and any sign that the review is moving from process to outcome.
pipeline
ba3071 data is still the cleanest catalyst
further evalstotug results could attract partners. In a company worth $13M, one credible readout can change the whole conversation.
balance sheet
watch the gap between debt and equity value
long-term debt is $5M against a market cap of about $13M. That ratio is not fatal by itself, but it leaves very little room for delays.
Analyst rankings
source: institutional data
Institutional activity
institutional ownership data for BCAB is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$0
current price
n/a
target midpoint · n/a from current
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