BioAtla, Inc. Files 2023 Annual Report on Form 10-K
Ticker: BCAB · Form: 10-K · Filed: Mar 26, 2024 · CIK: 1826892
Sentiment: neutral
Topics: 10-K, BioAtla, Financials, Biotechnology, SEC Filing
TL;DR
<b>BioAtla, Inc. has filed its 2023 10-K, providing a comprehensive overview of its financial performance, equity plans, and business operations.</b>
AI Summary
BioAtla, Inc. (BCAB) filed a Annual Report (10-K) with the SEC on March 26, 2024. BioAtla, Inc. filed its 2023 Form 10-K on March 26, 2024, reporting on its fiscal year ending December 31, 2023. The filing details various equity incentive plans, including the Two Thousand Twenty Equity Incentive Plan and Employees Stock Purchase Plan, with activity noted for 2023. Key financial statement items such as Additional Paid-In Capital and Retained Earnings are reported for fiscal years 2021, 2022, and 2023. The company's business address is 11085 Torreyana Road, San Diego, CA 92121, with a business phone number of 858-558-0708. The filing references specific entities and collaborations, including Inversagen LLC and the Amended BeiGene Collaboration.
Why It Matters
For investors and stakeholders tracking BioAtla, Inc., this filing contains several important signals. This 10-K filing provides investors with the latest audited financial statements and disclosures for BioAtla, Inc., crucial for understanding the company's financial health and strategic direction. The detailed information on equity plans and specific collaborations offers insights into the company's compensation structure and partnership strategies, which can impact future growth and shareholder value.
Risk Assessment
Risk Level: medium — BioAtla, Inc. shows moderate risk based on this filing. The company is in the biotechnology sector, which is inherently high-risk due to long development cycles, regulatory hurdles, and market competition, as evidenced by the numerous equity and incentive plan details suggesting ongoing operational and development activities.
Analyst Insight
Investors should review the detailed financial statements and risk factors in the 10-K to assess BioAtla's financial position and future prospects.
Key Numbers
- 2023-12-31 — Fiscal Year End (Reporting period)
- 2024-03-26 — Filing Date (Date of submission)
- 858-558-0708 — Business Phone (Contact information)
Key Players & Entities
- BioAtla, Inc. (company) — Filer name
- 20231231 (date) — Fiscal year end
- 20240326 (date) — Filing date
- 001-39787 (other) — SEC file number
- 11085 Torreyana Road (address) — Business address
- SAN DIEGO (location) — Business address city
- CA (location) — Business address state
- 92121 (postal_code) — Business address zip
FAQ
When did BioAtla, Inc. file this 10-K?
BioAtla, Inc. filed this Annual Report (10-K) with the SEC on March 26, 2024.
What is a 10-K filing?
A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by BioAtla, Inc. (BCAB).
Where can I read the original 10-K filing from BioAtla, Inc.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by BioAtla, Inc..
What are the key takeaways from BioAtla, Inc.'s 10-K?
BioAtla, Inc. filed this 10-K on March 26, 2024. Key takeaways: BioAtla, Inc. filed its 2023 Form 10-K on March 26, 2024, reporting on its fiscal year ending December 31, 2023.. The filing details various equity incentive plans, including the Two Thousand Twenty Equity Incentive Plan and Employees Stock Purchase Plan, with activity noted for 2023.. Key financial statement items such as Additional Paid-In Capital and Retained Earnings are reported for fiscal years 2021, 2022, and 2023..
Is BioAtla, Inc. a risky investment based on this filing?
Based on this 10-K, BioAtla, Inc. presents a moderate-risk profile. The company is in the biotechnology sector, which is inherently high-risk due to long development cycles, regulatory hurdles, and market competition, as evidenced by the numerous equity and incentive plan details suggesting ongoing operational and development activities.
What should investors do after reading BioAtla, Inc.'s 10-K?
Investors should review the detailed financial statements and risk factors in the 10-K to assess BioAtla's financial position and future prospects. The overall sentiment from this filing is neutral.
Risk Factors
- Financial Condition [medium — financial]: The company's financial condition and results of operations are subject to various risks and uncertainties inherent in the biotechnology industry.
- Regulatory Approvals [high — regulatory]: The development and commercialization of the company's product candidates are subject to extensive regulatory review and approval processes.
- Market Acceptance [medium — market]: The success of the company's products depends on market acceptance and the ability to compete effectively with existing therapies.
Key Dates
- 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
- 2024-03-26: 10-K Filing Date — Date BioAtla, Inc. submitted its annual report.
Filing Stats: 4,428 words · 18 min read · ~15 pages · Grade level 16.6 · Accepted 2024-03-26 17:05:34
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value per share BCAB The Nasdaq
- $3.00 — ion based on the closing sales price of $3.00 per share as r eported on the Nasdaq Gl
Filing Documents
- bcab-20231231.htm (10-K) — 2235KB
- bcab-ex4_3.htm (EX-4.3) — 49KB
- bcab-ex10_17.htm (EX-10.17) — 177KB
- bcab-ex10_24.htm (EX-10.24) — 69KB
- bcab-ex10_25.htm (EX-10.25) — 69KB
- bcab-ex23_1.htm (EX-23.1) — 6KB
- bcab-ex31_1.htm (EX-31.1) — 13KB
- bcab-ex31_2.htm (EX-31.2) — 13KB
- bcab-ex32_1.htm (EX-32.1) — 9KB
- bcab-ex97_1.htm (EX-97.1) — 66KB
- img67494665_0.jpg (GRAPHIC) — 104KB
- img67494665_1.jpg (GRAPHIC) — 37KB
- img188821179_0.jpg (GRAPHIC) — 29KB
- 0000950170-24-036548.txt ( ) — 8982KB
- bcab-20231231.xsd (EX-101.SCH) — 1332KB
- bcab-20231231_htm.xml (XML) — 1100KB
Business
Business 2 Item 1A.
Risk Factors
Risk Factors 28 Item 1B. Unresolved Staff Comments 67 Item 1C. Cybersecurity 67 Item 2.
Properties
Properties 68 Item 3.
Legal Proceedings
Legal Proceedings 68 Item 4. Mine Safety Disclosures 68 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 69 Item 6.
Selected Financial Data
Selected Financial Data 69 Item 7.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 70 Item 7A.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 75 Item 8.
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 76 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 95 Item 9A.
Controls and Procedures
Controls and Procedures 95 Item 9B. Other Information 96 PART III Item 10. Directors, Executive Officers and Corporate Governance 97 Item 11.
Executive Compensation
Executive Compensation 97 Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 97 Item 13. Certain Relationships and Related Transactions, and Director Independence 97 Item 14. Principal Accountant Fees and Services 97 PART IV Item 15. Exhibits and Financial Statement Schedules 98 Item 16. Form 10-K Summary 98
SIGNATURES
SIGNATURES 101 Table of Contents PAR T I
FORWARD-LOOKING STATEMENTS
FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements. We may, in some cases, use words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "will," "would" or the negative of those terms, and similar expressions that convey uncertainty of future events or outcomes to identify these forward-looking statements. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy short-term and long-term business operations and objectives and financial needs. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions, including risks described in the section titled "Risk Factors" set forth in Part I, Item 1A of this Annual Report on Form 10-K and in our other filings with the Securities and Exchange Commission (the "SEC"). It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the future events and trends discussed in this Annual Report on Form 10-K may not occur, and actual results may differ materially and adversely from those anticipated or implied in the forward-looking statements. Forward-looking statements contained in this Annual Report on Form 10-K include, but are not limited to, statements about: our ability to develop and advance our current product candidates and programs into, and successfully complete, clinical trials;
Business
ITEM 1. Business Overview We are a clinical-stage biopharmaceutical company developing our novel class of highly specific and selective antibody-based therapeutics for the treatment of solid tumor cancer. Our conditionally active biologics ("CAB" or "CABs") capitalize on our proprietary discoveries with respect to tumor biology, enabling us to target known and widely validated tumor antigens that have previously been difficult or impossible to target. Our novel CAB therapeutic candidates exploit characteristic pH differences between the tumor microenvironment and healthy tissue. Unlike healthy tissue, the tumor microenvironment is acidic, and we have designed our antibodies to selectively bind to their targets on cancer cells under acidic pH conditions but not on targets in normal tissues. Our approach is to identify the necessary targeting and potency required for cancer cell destruction, while aiming to eliminate or greatly reduce on-target, off-tumor toxicity—one of the fundamental challenges of existing cancer therapies. The enhanced selectivity of our CAB technology has the potential to greatly improve the benefit-risk ratio for the patient and allows us to deliver desired drug levels either as monotherapy or utilizing unique multi-targeted or combination therapies that are currently difficult or impossible to develop. Additionally, the combination of reversible binding with the selective, precision capability of our CAB technology enables both increased antibody potency and reduced toxicity. By exploiting our novel understanding of tumor biology, we believe that our proprietary CAB technology has the potential to transform antibody-based cancer therapy. Our goal is to develop well-tolerated, novel cancer therapies that provide cures or extended survival to ensure patients' improved quality of life. Studies have shown that, as a drug class, antibodies have transformed oncology treatment and include some of the best-selling therapies on the biopharmaceutic