In This Article:
Release Date: May 06, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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BioAtla Inc (NASDAQ:BCAB) reported progress in their phase one dose escalation study, with multiple patients achieving tumor reduction and tolerating the therapy over many months without progression.
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The company observed exceptional overall survival rates in their cab-axel ADC program, with a two-year landmark survival of 59% in MKRAS non-small cell lung cancer patients.
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BioAtla Inc (NASDAQ:BCAB) reported a 100% disease control rate in treatment-refractory HPV positive head and neck cancer patients, with a 45% overall response rate.
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The company is actively engaged in discussions for potential partnerships to maximize the value of their phase 2 clinical programs.
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BioAtla Inc (NASDAQ:BCAB) has managed to reduce their R&D expenses significantly, which is expected to provide sufficient runway to fund operations and achieve key clinical readouts in the first half of 2026.
Negative Points
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The company reported a net loss of $15.3 million for the quarter ended March 31, 2025.
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Cash and cash equivalents decreased to $32.4 million as of March 31, 2025, from $49 million as of December 31, 2024.
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BioAtla Inc (NASDAQ:BCAB) had to implement a workforce reduction, which incurred additional charges.
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The company has not yet reached the maximally tolerated dose in their phase one study, indicating ongoing uncertainty in dose optimization.
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There is a reliance on potential new partnerships to extend their cash runway and support future operations.
Q & A Highlights
Q: Will the poster presentation for the Roar 2 program at ASCO contain an updated data cut? And for the FCA update in July, will we have data from the 300 mcg dose as well as the 900 mcg dose? A: Yes, we will have an updated data cut that includes additional safety data from the every-other-week dosing regimen of 1.8 mg per kg, along with updates on long-term outcomes. For the FCA update, we anticipate around a 25 to 30 patient update from our dose escalation data set, but we do not have insight into the 900 mcg dose at this point.
Q: Any thoughts on a pivotal design for the Axel program and options for accelerated approval? A: The pivotal trial would likely be in second and third-line patients with mutated KRAS non-small cell lung cancer, randomized 1:1 against docetaxel. The FDA is supportive of this approach. For accelerated approval, the Roar 2 program in HPV-positive head and neck cancer may have that opportunity, which is exciting and has sparked interesting discussions on potential partnerships.