Bioatla (BCAB) Registration Filing summary

Company overview and business model

• Clinical-stage biopharmaceutical company focused on developing highly specific and selective antibody-based therapeutics for solid tumor cancers using proprietary CAB technology that targets tumor antigens in acidic microenvironments, aiming to reduce off-tumor toxicity.

• Pipeline includes ongoing Phase 2 trials for mecbotamab vedotin (BA3011), ozuriftamab vedotin (BA3021), evalstotug (BA3071), and a Phase 1 trial for BA3182, with additional preclinical assets and out-licensing agreements.

• Operations are based in San Diego, California, with a focus on R&D, clinical trials, IP portfolio, and third-party manufacturing.

Financial performance and metrics

• As of January 16, 2026, aggregate market value of outstanding common stock held by non-affiliates was approximately $74.4 million, based on 60,967,643 shares at $1.22 per share.

• Historical net tangible book value as of September 30, 2025, was $(37.0) million, or $(0.63) per share; as-adjusted net tangible book value after the offering would be $(15.5) million, or $(0.1246) per share.

• Immediate dilution to new investors is estimated at $0.4442 per share if shares are sold at $0.3196 per share.

Use of proceeds and capital allocation

• Net proceeds from the offering, together with existing cash, will be used primarily to fund research and development, working capital, and general corporate purposes.

• Management retains broad discretion over the allocation and timing of expenditures, which may vary based on clinical and operational needs.