BioAtla (BCAB)
Market Price (4/15/2026): $4.24 | Market Cap: $5.1 MilSector: Health Care | Industry: Biotechnology
BioAtla (BCAB)
Market Price (4/15/2026): $4.24Market Cap: $5.1 MilSector: Health CareIndustry: Biotechnology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -18% Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more. | Weak multi-year price returns2Y Excs Rtn is -131%, 3Y Excs Rtn is -167% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -59 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -2965% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -82% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 272% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -2410%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2410% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -1171% High stock price volatilityVol 12M is 134% Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 198% Key risksBCAB key risks include [1] a dwindling cash position threatening its operational runway beyond early 2026, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -18% |
| Megatrend and thematic driversMegatrends include Precision Medicine, and Aging Population & Chronic Disease. Themes include Targeted Therapies, Biopharmaceutical R&D, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -131%, 3Y Excs Rtn is -167% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -59 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -2965% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -82% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 272% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -2410%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -2410% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -1171% |
| High stock price volatilityVol 12M is 134% |
| Significant short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 198% |
| Key risksBCAB key risks include [1] a dwindling cash position threatening its operational runway beyond early 2026, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Severe Financial Distress and Going Concern Doubts.
BioAtla faced significant financial challenges, reporting cash and cash equivalents of only $7.1 million as of December 31, 2025, and a full-year 2025 net loss of $59.6 million. This cash position was deemed insufficient to fund operations beyond the first half of 2026, leading to substantial doubt about the company's ability to continue as a going concern.
2. Nasdaq Delisting Threat and Reverse Stock Split.
The company received a Nasdaq determination on February 6, 2026, to suspend trading of its common stock due to non-compliance with the $1.00 minimum bid price and $2.5 million stockholders' equity requirements. To address this, BioAtla enacted a 50-for-1 reverse stock split, effective April 6, 2026, in an attempt to regain Nasdaq compliance. This action is often a signal of severe corporate distress and was met with a negative market reaction, with the stock declining 16.40% on the day this news was published.
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Stock Movement Drivers
Fundamental Drivers
The -85.0% change in BCAB stock from 12/31/2025 to 4/14/2026 was primarily driven by a null change in the company's P/S Multiple.| (LTM values as of) | 12312025 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 28.39 | 4.27 | -85.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 2 | 9.2233720368547763E17% |
| P/S Multiple | ∞ | 2.6 | |
| Shares Outstanding (Mil) | 1 | 1 | -1.8% |
| Cumulative Contribution | 0.0% |
Market Drivers
12/31/2025 to 4/14/2026| Return | Correlation | |
|---|---|---|
| BCAB | -85.0% | |
| Market (SPY) | -5.4% | -7.2% |
| Sector (XLV) | -3.9% | 17.3% |
Fundamental Drivers
The -87.6% change in BCAB stock from 9/30/2025 to 4/14/2026 was primarily driven by a -81.8% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 9302025 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 34.40 | 4.27 | -87.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 11 | 2 | -81.8% |
| P/S Multiple | 3.7 | 2.6 | -30.2% |
| Shares Outstanding (Mil) | 1 | 1 | -2.2% |
| Cumulative Contribution | -87.6% |
Market Drivers
9/30/2025 to 4/14/2026| Return | Correlation | |
|---|---|---|
| BCAB | -87.6% | |
| Market (SPY) | -2.9% | -3.4% |
| Sector (XLV) | 7.4% | 8.1% |
Fundamental Drivers
The -75.4% change in BCAB stock from 3/31/2025 to 4/14/2026 was primarily driven by a -81.8% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 3312025 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 17.34 | 4.27 | -75.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 11 | 2 | -81.8% |
| P/S Multiple | 1.6 | 2.6 | 63.1% |
| Shares Outstanding (Mil) | 1 | 1 | -17.0% |
| Cumulative Contribution | -75.4% |
Market Drivers
3/31/2025 to 4/14/2026| Return | Correlation | |
|---|---|---|
| BCAB | -75.4% | |
| Market (SPY) | 16.3% | 16.3% |
| Sector (XLV) | 3.3% | 15.0% |
Fundamental Drivers
The -96.8% change in BCAB stock from 3/31/2023 to 4/14/2026 was primarily driven by a null change in the company's P/S Multiple.| (LTM values as of) | 3312023 | 4142026 | Change |
|---|---|---|---|
| Stock Price ($) | 134.00 | 4.27 | -96.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 0 | 2 | 9.2233720368547763E17% |
| P/S Multiple | ∞ | 2.6 | |
| Shares Outstanding (Mil) | 1 | 1 | -27.4% |
| Cumulative Contribution | 0.0% |
Market Drivers
3/31/2023 to 4/14/2026| Return | Correlation | |
|---|---|---|
| BCAB | -96.8% | |
| Market (SPY) | 63.3% | 21.5% |
| Sector (XLV) | 20.4% | 18.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BCAB Return | -42% | -58% | -70% | -76% | -4% | -84% | -100% |
| Peers Return | -7% | -57% | -46% | 0% | 64% | 27% | -54% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -0% | 81% |
Monthly Win Rates [3] | |||||||
| BCAB Win Rate | 25% | 33% | 25% | 33% | 50% | 0% | |
| Peers Win Rate | 52% | 33% | 37% | 40% | 48% | 60% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| BCAB Max Drawdown | -44% | -89% | -85% | -76% | -55% | -84% | |
| Peers Max Drawdown | -32% | -70% | -65% | -23% | -45% | -21% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CTMX, XLO, ADCT, STRO, PFE.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/14/2026 (YTD)
How Low Can It Go
| Event | BCAB | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -98.2% | -25.4% |
| % Gain to Breakeven | 5483.5% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
Compare to CTMX, XLO, ADCT, STRO, PFE
In The Past
BioAtla's stock fell -98.2% during the 2022 Inflation Shock from a high on 3/18/2021. A -98.2% loss requires a 5483.5% gain to breakeven.
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About BioAtla (BCAB)
AI Analysis | Feedback
Here are a couple of brief analogies to describe BioAtla (BCAB):
- Like an early-stage Seagen, developing innovative antibody-drug conjugates for solid tumor cancers.
- Think of it as an early-stage Genentech, entirely dedicated to pioneering next-generation antibody-based therapies for solid tumor cancers.
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- BA3011: A conditionally active biologic (CAB) antibody-drug conjugate (ADC) for soft tissue and bone sarcoma tumors, non-small cell lung cancer (NSCLC), and ovarian cancer.
- BA3021: A CAB ADC developed for multiple solid tumor types, including NSCLC, melanoma, and ovarian cancer.
- BA3071: A CAB anti-cytotoxic T-lymphocyte-associated antigen 4 antibody targeting renal cell carcinoma, NSCLC, small cell lung cancer, hepatocellular carcinoma, melanoma, bladder cancer, gastric cancer, and cervical cancer.
AI Analysis | Feedback
As a clinical-stage biopharmaceutical company, BioAtla (BCAB) is focused on the research and development of its antibody-based therapeutic candidates for the treatment of cancer. Its lead product candidates, such as BA3011, BA3021, and BA3071, are currently undergoing clinical trials and have not yet received regulatory approval for commercial sale.
Therefore, BioAtla does not currently have "major customers" in the traditional sense who purchase its therapeutic products. Its primary activities involve conducting clinical trials, securing regulatory approvals, and pursuing strategic partnerships or licensing agreements for the potential future commercialization of its drugs.
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Jay Short, Ph.D. Chairman, Chief Executive Officer & Cofounder
Dr. Short is a cofounder of BioAtla and co-inventor of its patented Conditionally Active Biologics (CAB) platform. He also cofounded Diversa Corporation (now BASF), where he served as CEO, President, and CTO from 1994 to 2005, leading its public offering, which was the largest biotechnology IPO at that time, raising over $200 million. Prior to Diversa, he was President of Stratacyte, an antibody engineering company and subsidiary of Stratagene, and served as VP of R&D and Operations for Stratagene Cloning Systems. BioAtla's successful IPO in December 2020, which raised over $217 million, marked the second company Dr. Short successfully advanced from founding to IPO. He is also a cofounder of Capia IP and a founder of the E.O. Wilson Biodiversity Foundation.
Chris Vasquez Chief Financial Officer
Mr. Vasquez was appointed Chief Financial Officer of BioAtla effective March 2, 2026. He has over 20 years of finance and business experience working with both public and private companies. Prior to his appointment as CFO, he served as BioAtla's Chief Accounting Officer, Controller, and Corporate Secretary since 2024, and was Corporate Controller from 2015 to 2024. His earlier experience includes seven years at Cricket Communications, through its acquisition by AT&T, where his role expanded to Associate Director of Accounting, and he began his career in the audit practice at KPMG. Mr. Vasquez is a Certified Public Accountant in California.
Eric Sievers, M.D. Chief Medical Officer
Dr. Sievers serves as the Chief Medical Officer at BioAtla, overseeing the company's clinical development programs.
Sheri Lydick Chief Commercial Officer
Ms. Lydick is the Chief Commercial Officer at BioAtla.
William Boyle, Ph.D. Chief Science Officer and VP Translational Medicine
Dr. Boyle holds the position of Chief Science Officer and VP Translational Medicine at BioAtla.
AI Analysis | Feedback
The key risks to BioAtla, Inc. (BCAB) primarily revolve around its financial viability and the inherent challenges of clinical-stage drug development.
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Financial Instability and Going Concern Risk
BioAtla faces a critical cash crunch, highlighted by its limited cash and cash equivalents of $8.3 million as of September 30, 2025, against a Q3 2025 net loss of $15.8 million, leading to an "imminent going concern risk." The company's cash runway is measured in months, and it reported negative shareholder equity. This precarious financial position is further underscored by a significant restructuring announced in March 2026, which includes a 70% workforce reduction and the initiation of a formal process to evaluate strategic options to monetize assets. Without securing additional substantial funding, BioAtla's ability to continue operations is severely threatened.
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Clinical Trial and Regulatory Approval Risk
As a clinical-stage biopharmaceutical company, BioAtla's success is heavily dependent on the successful outcome of its ongoing and future clinical trials for its product candidates, such as BA3011, BA3021, BA3071, Ozuriftamab Vedotin (Oz-V), and BA3182. There is a significant risk that these candidates may fail to demonstrate sufficient safety or efficacy in clinical trials, experience delays, or encounter difficulties in obtaining necessary regulatory approvals. While there has been positive news regarding FDA alignment for the Phase 3 trial design of Oz-V, this does not eliminate the inherent uncertainties and risks associated with clinical development, including the potential for setbacks that could jeopardize the company's future prospects.
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Dependence on Strategic Partnerships and Financing
Given its severe financial constraints, BioAtla is highly reliant on securing strategic partnerships, licensing agreements, or other forms of external financing to fund its research and development efforts and advance its pipeline. The company is actively exploring various strategic options, including asset sales, licensing, and partnerships, to maximize shareholder value. The failure to successfully negotiate and finalize such a transaction in a timely manner could exacerbate its financial challenges, lead to further dilution for existing shareholders, or even force the company to cease operations.
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```htmlFor BioAtla (symbol: BCAB), the addressable markets for their main products are as follows:
- BA3011 (CAB antibody-drug conjugate for soft tissue and bone sarcoma tumors, non-small cell lung cancer (NSCLC), and ovarian cancer):
- Soft Tissue Sarcoma: The global soft tissue sarcoma market was valued at approximately USD 4.11 billion in 2024 and is projected to reach USD 8.36 billion by 2033.
- Non-Small Cell Lung Cancer (NSCLC): The global non-small cell lung cancer market is estimated to be valued at USD 28.61 billion in 2025 and is expected to reach USD 54.38 billion by 2032. Another report estimates the global market at USD 22.1 billion in 2025, growing to USD 53.9 billion in 2034.
- Ovarian Cancer: The global ovarian cancer market size was estimated to be USD 3.5 billion in 2023, with a projected growth to approximately USD 6.5 billion by 2032.
- BA3021 (CAB ADC for multiple solid tumor types, including NSCLC, melanoma, and ovarian cancer):
- Non-Small Cell Lung Cancer (NSCLC): The global non-small cell lung cancer market is estimated to be valued at USD 28.61 billion in 2025 and is expected to reach USD 54.38 billion by 2032. Another report estimates the global market at USD 22.1 billion in 2025, growing to USD 53.9 billion in 2034.
- Melanoma: The melanoma market across the top 7 markets (US, EU4, UK, and Japan) reached a value of USD 4.2 billion in 2024 and is expected to reach USD 9.8 billion by 2035. The global melanoma therapeutics market size was valued at USD 5.83 billion in 2024 and is estimated to reach USD 10.26 billion by 2030.
- Ovarian Cancer: The global ovarian cancer market size was estimated to be USD 3.5 billion in 2023, with a projected growth to approximately USD 6.5 billion by 2032.
- BA3071 (CAB anti-cytotoxic T-lymphocyte-associated antigen 4 antibody for renal cell carcinoma, NSCLC, small cell lung cancer, hepatocellular carcinoma, melanoma, bladder cancer, gastric cancer, and cervical cancer):
- Renal Cell Carcinoma: The global renal cell carcinoma market size reached a value of USD 4.6 billion in 2023 and is expected to reach USD 7.3 billion by 2034.
- Non-Small Cell Lung Cancer (NSCLC): The global non-small cell lung cancer market is estimated to be valued at USD 28.61 billion in 2025 and is expected to reach USD 54.38 billion by 2032. Another report estimates the global market at USD 22.1 billion in 2025, growing to USD 53.9 billion in 2034.
- Small Cell Lung Cancer (SCLC): The global small cell lung cancer therapeutics market size is valued at USD 7.25 billion in 2025 and is predicted to increase to approximately USD 22.86 billion by 2035.
- Hepatocellular Carcinoma (HCC): The global hepatocellular carcinoma (HCC) treatment market is estimated to be valued at USD 4.3 billion in 2025 and is projected to reach USD 33.8 billion by 2035.
- Melanoma: The melanoma market across the top 7 markets (US, EU4, UK, and Japan) reached a value of USD 4.2 billion in 2024 and is expected to reach USD 9.8 billion by 2035. The global melanoma therapeutics market size was valued at USD 5.83 billion in 2024 and is estimated to reach USD 10.26 billion by 2030.
- Bladder Cancer: The global bladder cancer market size reached a value of USD 3.9 billion in 2023 and is expected to reach USD 5.4 billion by 2034.
- Gastric Cancer: The global stomach cancer treatment market size was valued at around USD 4.7 billion in 2023 and is estimated to grow to USD 14.4 billion by 2032.
- Cervical Cancer: The global cervical cancer treatment market size is calculated at US$ 8.65 billion in 2024 and is projected to reach around US$ 14.68 billion by 2034.
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Expected Drivers of Future Revenue Growth for BioAtla (BCAB)
Over the next 2-3 years, BioAtla's revenue growth is expected to be primarily driven by advancements in its clinical pipeline and strategic partnership activities, typical for a clinical-stage biopharmaceutical company. Key drivers include:
- Advancement and Potential Accelerated Approval of Ozuriftamab Vedotin (BA3021) in Oropharyngeal Squamous Cell Carcinoma (OPSCC): BioAtla has achieved FDA alignment on the Phase 3 trial design for Ozuriftamab Vedotin (Oz-V) in second-line plus oropharyngeal squamous cell carcinoma (OPSCC), which offers the potential for accelerated approval based on dual primary endpoints. The estimated worldwide peak sales potential for Oz-V in this indication is approximately $800 million, positioning it as a significant revenue opportunity through potential commercialization or partnership agreements following regulatory milestones.
- Strategic Transactions, Collaborations, and Licensing Agreements: As a clinical-stage company, BioAtla's revenue is heavily influenced by collaboration and licensing agreements, including upfront payments, research funding, and milestone payments. The company is actively pursuing and is in "advanced stages to finalize a strategic transaction with a potential partner by year-end" (Q3 2025). A recent investment agreement and exclusive license agreement with Inversagen AI and BA 3021 SPV for Oz-V also demonstrate this strategy to fund its Phase 3 program and operations. BioAtla also received a $2 million milestone payment from Context Therapeutics in October 2025 related to license progress for a dual CAB Nectin-4 TCE.
- Clinical Progression and Partnership Opportunities for Mecbotamab Vedotin (BA3011): Mecbotamab Vedotin (BA3011) has demonstrated promising median overall survival data of 21.5 months in soft tissue sarcoma, which compares favorably to existing approved agents. The company is also preparing for discussions with the FDA regarding a potentially registrational Part 2 study for BA3011 in AXL-positive non-small cell lung cancer (NSCLC). While commercial launch may extend beyond the immediate 2-3 year horizon (with some analysts projecting 2027 for sarcoma and 2028 for NSCLC), successful clinical milestones and subsequent partnership agreements for this asset could generate significant milestone payments and collaboration revenue within the forecast period.
- Milestone Payments from the BA3071 Partnership with BeiGene: BioAtla has a global licensing agreement with BeiGene for its CAB CTLA-4 antibody, BA3071. Under this agreement, BioAtla is eligible to receive near-term development and regulatory milestone payments, in addition to tiered royalties on worldwide sales. Continued progression of BA3071 through its Phase 2 development across multiple solid tumor indications is expected to trigger these milestone payments, contributing to future revenue.
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BioAtla (BCAB) Capital Allocation Decisions (Last 3-5 Years)
Share Issuance
- BioAtla has seen a notable increase in its shares outstanding, rising from 33.9 million in 2021 to 58.74 million at the end of 2025 and continuing into March 2026.
- Equity issuance has been a source of funding for the company, as its operating cash flow of -$57.07 million was outpaced by $9.36 million in equity issuance, indicating a reliance on equity markets for operational funding.
- On January 30, 2026, BioAtla announced a formal process to evaluate a 1-for-50 reverse stock split, a move aimed at addressing Nasdaq's continued listing standards.
Inbound Investments
- In December 2025, BioAtla and GATC Health entered into a $40 million Special Purpose Vehicle (SPV) transaction to advance Ozuriftamab Vedotin (Oz-V) into a Phase 3 clinical trial.
- The company secured agreements for up to $22.5 million in flexible financing during November 2025.
- For fiscal year 2024, BioAtla reported $7.3 million in collaboration-based revenue.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| BioAtla Earnings Notes | 12/16/2025 | |
| null | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 6.56 |
| Mkt Cap | 0.6 |
| Rev LTM | 79 |
| Op Inc LTM | -51 |
| FCF LTM | -62 |
| FCF 3Y Avg | -74 |
| CFO LTM | -62 |
| CFO 3Y Avg | -74 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.6% |
| Rev Chg 3Y Avg | 7.7% |
| Rev Chg Q | -1.2% |
| QoQ Delta Rev Chg LTM | -0.3% |
| Op Mgn LTM | -99.2% |
| Op Mgn 3Y Avg | -93.7% |
| QoQ Delta Op Mgn LTM | 26.8% |
| CFO/Rev LTM | -136.1% |
| CFO/Rev 3Y Avg | -122.7% |
| FCF/Rev LTM | -136.7% |
| FCF/Rev 3Y Avg | -123.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.6 |
| P/S | 4.8 |
| P/EBIT | -4.1 |
| P/E | -2.7 |
| P/CFO | -2.8 |
| Total Yield | -15.3% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -86.9% |
| D/E | 0.1 |
| Net D/E | -0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -0.5% |
| 3M Rtn | 7.0% |
| 6M Rtn | 4.2% |
| 12M Rtn | 125.2% |
| 3Y Rtn | -27.9% |
| 1M Excs Rtn | -5.6% |
| 3M Excs Rtn | 3.0% |
| 6M Excs Rtn | -6.1% |
| 12M Excs Rtn | 107.4% |
| 3Y Excs Rtn | -99.2% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Discovery, development, and commercialization of its conditionally active biologics (CAB) products | 11 | ||||
| Single Segment | 0 | ||||
| Total | 11 | 0 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Discovery, development, and commercialization of its conditionally active biologics (CAB) products | -70 | ||||
| Total | -70 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Single Segment | 120 | 226 | 254 | ||
| Total | 120 | 226 | 254 |
Price Behavior
| Market Price | $4.27 | |
| Market Cap ($ Bil) | 0.3 | |
| First Trading Date | 12/16/2020 | |
| Distance from 52W High | -93.0% | |
| 50 Days | 200 Days | |
| DMA Price | $8.17 | $23.92 |
| DMA Trend | down | down |
| Distance from DMA | -47.7% | -82.2% |
| 3M | 1YR | |
| Volatility | 152.4% | 134.9% |
| Downside Capture | 1.68 | 1.04 |
| Upside Capture | -447.86 | -10.38 |
| Correlation (SPY) | -2.3% | 8.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.85 | 0.07 | -0.53 | -0.42 | 1.16 | 1.72 |
| Up Beta | 20.81 | 14.89 | 9.73 | 0.41 | 1.45 | 1.55 |
| Down Beta | -5.97 | -0.19 | -1.28 | 1.26 | 1.40 | 1.98 |
| Up Capture | -21% | -391% | -401% | -165% | 5% | 74% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 8 | 18 | 24 | 54 | 121 | 334 |
| Down Capture | 303% | -21% | 169% | 37% | 106% | 113% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 14 | 24 | 39 | 71 | 129 | 396 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BCAB | |
|---|---|---|---|---|
| BCAB | -71.2% | 134.4% | -0.27 | - |
| Sector ETF (XLV) | 11.9% | 16.0% | 0.52 | 11.6% |
| Equity (SPY) | 24.2% | 12.9% | 1.49 | 8.1% |
| Gold (GLD) | 53.4% | 27.6% | 1.55 | 1.6% |
| Commodities (DBC) | 26.8% | 16.2% | 1.47 | 9.4% |
| Real Estate (VNQ) | 18.7% | 13.8% | 1.00 | 8.8% |
| Bitcoin (BTCUSD) | -6.8% | 42.9% | -0.05 | 11.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BCAB | |
|---|---|---|---|---|
| BCAB | -71.9% | 117.5% | -0.53 | - |
| Sector ETF (XLV) | 6.6% | 14.6% | 0.27 | 19.5% |
| Equity (SPY) | 11.1% | 17.0% | 0.50 | 25.7% |
| Gold (GLD) | 22.5% | 17.8% | 1.03 | 4.0% |
| Commodities (DBC) | 11.7% | 18.8% | 0.51 | 3.2% |
| Real Estate (VNQ) | 3.9% | 18.8% | 0.11 | 20.8% |
| Bitcoin (BTCUSD) | 5.8% | 56.5% | 0.32 | 11.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BCAB | |
|---|---|---|---|---|
| BCAB | -44.6% | 115.5% | -0.42 | - |
| Sector ETF (XLV) | 9.9% | 16.5% | 0.49 | 19.3% |
| Equity (SPY) | 14.0% | 17.9% | 0.67 | 25.2% |
| Gold (GLD) | 14.3% | 15.9% | 0.75 | 3.6% |
| Commodities (DBC) | 8.8% | 17.6% | 0.42 | 2.8% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.23 | 20.7% |
| Bitcoin (BTCUSD) | 67.7% | 66.9% | 1.07 | 12.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/2/2026 | -17.5% | -32.2% | -37.8% |
| 11/13/2025 | 19.8% | 75.8% | 15.2% |
| 8/7/2025 | -7.2% | -4.2% | 60.9% |
| 3/27/2025 | -4.9% | -23.6% | 13.3% |
| 11/7/2024 | -5.4% | -23.0% | -27.0% |
| 8/8/2024 | 0.0% | 27.9% | 23.8% |
| 3/26/2024 | 15.0% | 22.9% | -25.2% |
| 11/7/2023 | -6.2% | -8.5% | -11.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 7 | 6 | 7 |
| # Negative | 6 | 7 | 6 |
| Median Positive | 15.0% | 27.9% | 50.4% |
| Median Negative | -6.7% | -23.0% | -26.1% |
| Max Positive | 83.1% | 228.8% | 151.0% |
| Max Negative | -41.2% | -46.8% | -37.8% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 03/31/2026 | 10-K |
| 09/30/2025 | 11/13/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 03/28/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 12/31/2023 | 03/26/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/01/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/23/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 3/2/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Workforce Reduction | 0.7 | ||||||
Prior: Q3 2025 Earnings Reported 11/13/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 R&D Expenses | |||||||
| 2025 Transaction Goal | 1 | ||||||
Industry Resources
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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