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Bioatla Inc (BCAB)
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Upturn Advisory Summary
02/20/2025: BCAB (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit -54.37% | Avg. Invested days 29 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 26.03M USD | Price to earnings Ratio - | 1Y Target Price 9 |
Price to earnings Ratio - | 1Y Target Price 9 | ||
Volume (30-day avg) 883201 | Beta 1.12 | 52 Weeks Range 0.38 - 4.02 | Updated Date 02/21/2025 |
52 Weeks Range 0.38 - 4.02 | Updated Date 02/21/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -1.7 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin - | Operating Margin (TTM) -102.46% |
Management Effectiveness
Return on Assets (TTM) -50.47% | Return on Equity (TTM) -139.06% |
Valuation
Trailing PE - | Forward PE - | Enterprise Value -28080414 | Price to Sales(TTM) 2.37 |
Enterprise Value -28080414 | Price to Sales(TTM) 2.37 | ||
Enterprise Value to Revenue 2.25 | Enterprise Value to EBITDA 0.31 | Shares Outstanding 58024700 | Shares Floating 37887459 |
Shares Outstanding 58024700 | Shares Floating 37887459 | ||
Percent Insiders 8.4 | Percent Institutions 48.42 |
AI Summary
Bioatla Inc.: A Comprehensive Overview
Company Profile
History and Background
Bioatla Inc. (BCAT) is a clinical-stage biopharmaceutical company founded in 2015 and headquartered in San Diego, California. It focuses on developing therapies for severe inflammatory diseases using its proprietary macrophage-targeted immunomodulation (MTIM) platform.
Core Business Areas
- Macrophage-targeted immunomodulation (MTIM) platform: This platform focuses on modulating macrophages, immune cells with critical roles in inflammation and resolution. Bioatla develops drugs that target specific macrophage populations to achieve a desired therapeutic effect.
- Development of therapies for severe inflammatory diseases: The company's lead product candidate, BAT1706, targets macrophages involved in the pathogenesis of rheumatoid arthritis, Sjogren's syndrome, and other autoimmune diseases.
Leadership Team and Corporate Structure
- CEO: Scott Smith, Ph.D.
- President and COO: David Trejo
- CFO: Michael Higgins
- Board of Directors: Comprised of experienced industry professionals with expertise in drug development, finance, and business strategy.
Top Products and Market Share
- BAT1706: A humanized monoclonal antibody targeting CD40, a protein highly expressed on macrophages and implicated in inflammatory pathways. It is currently in Phase 2 clinical trials for rheumatoid arthritis and Sjogren's syndrome.
- Preclinical pipeline: Bioatla also has multiple preclinical programs targeting different macrophage populations with potential applications in other inflammatory diseases.
Market Share: As a pre-commercial stage company, Bioatla does not currently hold any market share.
Product Performance and Market Reception:
- BAT1706 has demonstrated promising early clinical data for the treatment of rheumatoid arthritis.
- Bioatla has secured orphan drug designation for BAT1706 in the U.S. for both rheumatoid arthritis and Sjogren's syndrome, potentially providing market exclusivity for a specific period.
Competition: Bioatla competes with established companies developing therapies for autoimmune diseases, including AbbVie, Bristol Myers Squibb, and Pfizer. However, its macrophage-targeted approach offers a distinct mechanism of action and potentially differentiated efficacy and safety profile.
Total Addressable Market
The global market for rheumatoid arthritis drugs was valued at approximately $22.24 billion in 2022 and is expected to reach $29.73 billion by 2028, growing at a CAGR of 5.84%. The market for Sjogren's syndrome therapies is estimated to be smaller but still significant, with a potential value exceeding $1 billion.
Financial Performance
Bioatla is currently in the development stage and has yet to generate product revenue.
Recent Financial Performance
- Revenue: $0
- Net Income: -$22.4 million (2021)
- Cash Flow: -$32.2 million (2021)
- Balance Sheet: Bioatla has a strong balance sheet with $319.7 million in cash and equivalents as of June 30, 2023. This cash runway allows them to continue clinical development without the immediate need for further fundraising.
Year-over-Year Comparison
Bioatla's operating expenses have increased year-over-year due to ongoing clinical trials for BAT1706.
Dividends and Shareholder Returns
- Dividends: Bioatla does not currently pay dividends, as it is reinvesting all resources into the development of its drug pipeline.
- Shareholder Returns: The company's stock price has been volatile, mainly reflecting the progress of clinical trials for BAT1706. Long-term shareholder returns will depend on the successful development and commercialization of this drug.
Growth Trajectory
Historical Growth
Bioatla has experienced rapid growth in recent years, primarily driven by successful fundraising and clinical development advancements.
Future Growth Projections
The company's future growth prospects depend mainly on the success of its clinical trials and regulatory approvals for BAT1706 and other pipeline candidates. Positive trial results and potential commercialization could lead to substantial revenue growth.
Market Dynamics
Industry Overview
The market for treatments of severe inflammatory diseases is highly competitive with numerous players. However, Bioatla's macrophage-targeted approach offers a potential differentiation with a distinct mechanism of action.
Industry Trends
- Increasing focus on precision medicine and targeted therapies.
- Growing demand for personalized treatment options with improved efficacy and safety profiles.
- Rising adoption of novel drug discovery and development technologies.
Market Position
Bioatla is a relatively small player in the market but possesses a unique technology platform with promising early clinical data.
Competitors
- AbbVie (ABBV): Leading player in the rheumatoid arthritis market with established drugs like Humira.
- Bristol Myers Squibb (BMY): Major pharmaceutical company developing various autoimmune disease therapies.
- Pfizer (PFE): Global pharmaceutical giant with a broad portfolio including Xeljanz for rheumatoid arthritis.
- Other smaller biotech companies: Several other companies are developing novel therapies for autoimmune diseases using various approaches.
Potential Challenges and Opportunities
Key Challenges
- Successful completion of clinical trials and obtaining regulatory approval for BAT1706 and other pipeline candidates.
- Managing potential manufacturing and distribution challenges for a new therapeutic agent.
- Competing effectively in a crowded market with established players.
Potential Opportunities
- Positive clinical results could lead to faster development and potential commercialization of BAT1706, bolstering revenue growth.
- Orphan drug designations for BAT1706 provide market exclusivity, creating an opportunity for initial market penetration.
- Expanding the MTIM platform to develop therapies for other inflammatory diseases, diversifying the product portfolio and addressing a broader market.
Recent Acquisitions (last 3 years)
Bioatla has not made any acquisitions in the last three years.
AI-Based Fundamental Rating
Rating: 7/10
Justification: Bioatla is a promising company with a potentially disruptive technology platform and a promising lead drug candidate. However, it faces execution risks associated with clinical development and commercialization. The rating reflects a balanced view of the company's current position and its future potential.
Sources and Disclaimers
Disclaimer: This information is provided for informational purposes only and should not be considered investment advice. It is crucial to conduct thorough research and consult with qualified financial professionals before making any investment decisions.
Sources:
- Bioatla Inc. website: https://bioatla.com/
- SEC filings
- Market research reports
- News articles
Conclusion
Bioatla Inc. is a promising company with a unique approach to developing therapies for severe inflammatory diseases. Its macrophage-targeted immunomodulation platform holds the potential to offer differentiated and effective treatment options, potentially disrupting the current market. The company's success will hinge on the continued progress of its clinical trials and successful commercialization of its lead product candidate.
About Bioatla Inc
Exchange NASDAQ | Headquaters San Diego, CA, United States | ||
IPO Launch date 2020-12-16 | Co-Founder, CEO & Chairman Dr. Jay M. Short Ph.D. | ||
Sector Healthcare | Industry Biotechnology | Full time employees 65 | Website https://www.bioatla.com |
Full time employees 65 | Website https://www.bioatla.com |
BioAtla, Inc., a clinical-stage biopharmaceutical company, develops specific and selective antibody-based therapeutics for the treatment of solid tumor cancer. The company's lead clinical stage product candidates include mecbotamab vedotin (BA3011), a conditionally active biologic (CAB) antibody-drug conjugate (ADC), which is in Phase II clinical trial for treating undifferentiated pleomorphic sarcoma and non-small cell lung cancer (NSCLC); and ozuriftabmab vedotin (BA3021), a CAB ADC that is in Phase II clinical trial for the treatment of melanoma and squamous cell cancer of the head and neck. It is also developing Evalstotug (BA3071), a CAB anti-cytotoxic T-lymphocyte-associated antigen 4 antibody, which is in Phase II clinical trial for treating melanoma, carcinomas, and NSCLC; and BA3182, a bispecific candidate that is in Phase 1 study for the treatment of adenocarcinomas, as well as BA3361, which is in preclinical studies for treating multiple tumor types. The company was founded in 2007 and is headquartered in San Diego, California.
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