BioAtla, Inc. Q4 FY2024 earnings call

• CAB Platform Programs: EpCAM dual conditionally binding CAB program dose escalation progressing, with multiple patients experiencing tumor reduction; Mec-V shows strong overall survival in mutant KRAS non-small cell lung cancer; Oz-V monotherapy in head and neck cancer continues to demonstrate responses; Evalstotug in melanoma shows differentiated safety and efficacy. - Corporate Updates: BioAtla streamlined resources, with a workforce reduction of over 30%, extending runway beyond key clinical readouts in H1 2026.

R&D expenses for the quarter ended December 31, 2024 were $11.6 million, down from $22.7 million in the same quarter of 2023, due to lower clinical development expenses. General and administrative expenses were $4.6 million in Q4 2024, compared to $5.9 million in Q4 2023, a decrease primarily due to lower stock-based compensation, personnel-related costs, and D&O insurance premiums. Net loss for Q4 2024 was $14.9 million, down from $26.9 million in Q4 2023. Cash and cash equivalents as of December 31, 2024 were $49 million, compared to $111.5 million as of December 31, 2023.

• R&D expenses expected to continue decreasing in the first-half of 2025 due to restructuring and focus on prioritized programs. - BioAtla extended runway beyond key clinical readouts in H1 2026 by streamlining and realigning resources.

Forward-looking statements subject to risks in SEC filings, including clinical trial outcomes, regulatory approvals, partnership timelines, and cash sufficiency to fund operations.

Q: Just in terms of the partnered programs, could you give more color on where you are in discussions for ROR2 and CTLA-4?

A: Jay Short mentioned both advanced and newer discussions, with HPV positive data generating interest.

Q: For BA3182, what kind of data are expected and have you reached a recommended Phase 2 dose?

A: Eric Sievers said BA3182 dose escalation is ongoing, with meaningful tumor control observed, and enthusiasm for reporting Phase 1 data in coming months.

Q: Are there partnership discussions ongoing for BA3182 and are they contingent upon mid-'25 data?

A: Sheri Lydick said there has been interest, but discussions will wait until dose expansion data is available.

Q: On HPV positive patients for head and neck cancer, were all responders smokers?

A: Richard Waldron said smoking data exists but not correlated with HPV yet.

Q: Regarding EpCAM program, what dose level data can we expect and are you open to other BD strategies?

A: Jay Short said 300 microgram dose data expected, and BioAtla is open to various BD strategies to maximize shareholder value