BridgeBio Oncology Q3 loss narrows to $34.2M
BBOT reported $315.3 million in cash, cash equivalents and marketable securities, with runway expected into 2029.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
BridgeBio Oncology Therapeutics, Inc. reported third-quarter 2026 financial results and clinical-program updates. For the quarter ended September 30, 2026, net loss was $34.2 million, compared with $44.8 million a year earlier. Research and development expense was $29.6 million versus $35.1 million, and general and administrative expense was $7.9 million versus $14.1 million; the prior-year G&A figure included a $7.8 million charge related to common stock issuable to BridgeBio Pharma. Cash, cash equivalents and marketable securities totaled $315.3 million as of September 30, 2026, with runway expected into 2029.
BBO-8520 plus pembrolizumab showed a 75% objective response rate at 500 mg once daily and 53% across dose levels in 2L+ KRASG12C inhibitor-experienced NSCLC patients (N=17). In inhibitor-naïve NSCLC, BBO-8520 monotherapy showed a 63% response rate and 100% disease control rate. Combination cohorts for BBO-11818 and BBO-10203 are enrolling in colorectal and pancreatic cancers; monotherapy data updates are expected in the fourth quarter of 2026.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointThird-quarter net loss narrowed to $34.2 million from $44.8 million.
Negative
- None.
Filing Explained
For the nine months ended
8-K Event Classification
Key Figures
Key Terms
objective response rate (ORR) medical
disease control rate (DCR) medical
KRASG12C inhibitor-experienced medical
pan-KRAS inhibitor medical
Earnings Snapshot
Cash runway expected to fund operations into 2029.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What ORR did BBOT report for BBO-8520?
What were BBOT's third-quarter 2026 financial results?
When does BBOT expect monotherapy data updates for BBO-11818 and BBO-10203?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of Registrant as Specified in Its Charter)
|
|
|||
(State or Other Jurisdiction of Incorporation) |
|
(Commission File Number) |
|
(IRS Employer Identification No.) |
(Address of principal executive offices, including zip code)
(Telephone number, including area code, of agent for service)
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
|
|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 2.02 Results of Operations and Financial Condition.
On November 10, 2026, BridgeBio Oncology Therapeutics, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended September 30, 2026. A copy of the press release is attached as Exhibit 99.1.
The information in this Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (“Exchange Act”) or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, regardless of the general incorporation language of such filing, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. |
|
Description |
|
|
|
99.1 |
|
Press release dated November 10, 2026. |
|
|
|
104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
|
|
|
|
BRIDGEBIO ONCOLOGY THERAPEUTICS, INC. |
|
|
|
|
|
Date: November 10, 2026 |
|
By: |
|
/s/ Pedro J. Beltran |
|
|
Name: |
|
Pedro J. Beltran, Ph.D. |
|
|
Title: |
|
Chief Executive Officer |
Exhibit 99.1
BBOT Reports Third Quarter 2026 Financial Results and Update on Corporate Progress
SOUTH SAN FRANCISCO, Calif., November 10, 2026 — BridgeBio Oncology Therapeutics, Inc. (“BBOT”) (Nasdaq: BBOT), a clinical-stage biopharmaceutical company focused on RAS-pathway malignancies, today reported financial results for the quarter ended September 30, 2026, and provided a business update.
BBOT’s portfolio of RAS-pathway inhibitors is designed to enable direct dual inhibition of KRASG12C (BBO-8520), or KRASG12D/V (BBO-11818) in both their ON and OFF states as well as disruption of RAS-driven PI3Kα activation (BBO-10203) to achieve optimal target coverage of the most mutated driver oncogene in human cancer. Together, these assets uniquely position BBOT to achieve concurrent, high-level suppression of both the MAPK and PI3Kα pathways through a wholly-owned internal combination strategy.
“The third quarter was an important period for BBOT as we reported updated clinical data for BBO-8520 and delineated our strategic focus. Driven by encouraging clinical data across all three programs we are executing on multiple combinations with the potential for significant patient benefit,” said Pedro J. Beltran, Ph.D., Chief Executive Officer of BBOT. “With a strong balance sheet, multiple data catalysts expected through mid-2027, and cash runway into 2029, we believe BBOT is well positioned to advance differentiated therapies for patients with KRAS-driven cancers.”
Key Program Highlights and Updates
BBO-8520: An orally bioavailable small molecule direct inhibitor targeting both the ON and OFF states of KRASG12C.
BBO-11818: An orally bioavailable small molecule pan-KRAS inhibitor that targets KRAS in both the ON and OFF states.
BBO-10203: An orally bioavailable small molecule with a novel mechanism of action designed to block the physical interaction between RAS and PI3Kα, inhibiting RAS-driven PI3Kα-AKT signaling in tumors.
Third Quarter 2026 Financial Results
About BBOT
BBOT is a clinical-stage biopharmaceutical company advancing a next-generation pipeline of novel small molecule therapeutics targeting RAS and PI3Kα malignancies. BBOT has the goal of improving outcomes for patients with cancers driven by the two most prevalent oncogenes in human tumors. For more information, please visit www.bbotx.com and follow us on LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, as amended, and other federal securities laws. Any statements in this press release that are not historical facts may be deemed forward-looking statements, which generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” and similar expressions that predict or indicate future events or trends. These forward-looking statements include, without limitation, statements regarding the clinical and therapeutic potential and safety profile of BBOT’s product candidates, including BBO-8520, BBO-10203 and BBO-11818, as monotherapy or in combination with other therapeutics, the design and conduct of clinical trials with BBOT’s product candidates, including enrollment and dosing of ongoing internal and external combination studies, the expected timelines for clinical data readouts, ongoing and planned regulatory interactions, BBOT’s plans to continue and expand its clinical trials, and BBOT's beliefs, expectations and assumptions regarding the future of its business, future plans and strategies, including statements regarding anticipated operating expenses, BBOT’s projected cash runway and sufficiency of its cash, cash equivalents and marketable securities to fund its operations.
These statements are based on various assumptions, whether or not identified in this press release, and are the current expectations of BBOT’s management and are not predictions of actual performance. Many actual events and circumstances are beyond the control of BBOT. These forward-looking statements are subject to a number of risks and uncertainties, including the design and success of ongoing and planned clinical trials; adverse events that may be encountered in BBOT’s clinical trials; risks relating to the uncertainty of the projected financial information with respect to BBOT; risks related to the preclinical and clinical development of BBOT’s product candidates, including BBO-8520, BBO-10203 and BBO-11818, and the timing of expected regulatory and business milestones, including the progress of enrollment in clinical trials and availability of data from ongoing and planned clinical trials; the impact of competitive products; risks relating to BBOT’s ability to obtain sufficient supply of materials; changes in domestic and foreign business, market, financial, political, and legal conditions; and those factors discussed in documents BBOT has filed or will file with the U.S. Securities and Exchange Commission.
In addition, forward-looking statements reflect BBOT’s expectations, plans, or forecasts of future events and views as of the date of this press release and are qualified in their entirety by reference to the cautionary statements herein. BBOT anticipates that subsequent events and developments will cause BBOT’s assessments to change. These forward-looking statements should not be relied upon as any guarantee, assurance, prediction or definitive statement of fact or probability or as representing BBOT’s assessments as of any date subsequent to the date of this press release. Neither BBOT nor its affiliates undertake any obligation to update these forward-looking statements, except as required by law.
BBOT Contacts:
Investor Contact:
BBOT
Investors@BBOTx.com
Media Contact:
Inizio Evoke Comms
Jake.robison@inizioevoke.com
BridgeBio Oncology Therapeutics, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except shares and per share data)
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
||||||||||
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
||||
Operating expenses: |
|
(unaudited) |
|
|
(unaudited) |
|
||||||||||
Research and development |
|
$ |
29,593 |
|
|
$ |
35,052 |
|
|
$ |
118,620 |
|
|
$ |
83,125 |
|
General and administrative |
|
|
7,895 |
|
|
|
14,129 |
|
|
|
25,234 |
|
|
|
19,286 |
|
Total operating expenses |
|
|
37,488 |
|
|
|
49,181 |
|
|
|
143,854 |
|
|
|
102,411 |
|
Loss from operations |
|
|
(37,488 |
) |
|
|
(49,181 |
) |
|
|
(143,854 |
) |
|
|
(102,411 |
) |
Other income, net: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest income |
|
|
3,262 |
|
|
|
3,444 |
|
|
|
10,757 |
|
|
|
6,919 |
|
Income from transition services agreements |
|
|
87 |
|
|
|
1,010 |
|
|
|
506 |
|
|
|
1,010 |
|
Change in fair value of participation right liability |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(725 |
) |
Other expense |
|
|
(37 |
) |
|
|
(30 |
) |
|
|
(145 |
) |
|
|
(40 |
) |
Total other income, net |
|
|
3,312 |
|
|
|
4,424 |
|
|
|
11,118 |
|
|
|
7,164 |
|
Net loss |
|
$ |
(34,176 |
) |
|
$ |
(44,757 |
) |
|
$ |
(132,736 |
) |
|
$ |
(95,247 |
) |
Net loss per share attributable to common stockholders, |
|
$ |
(0.43 |
) |
|
$ |
(1.03 |
) |
|
$ |
(1.66 |
) |
|
$ |
(6.49 |
) |
Weighted-average number of shares used in computing |
|
|
80,184,540 |
|
|
|
43,491,085 |
|
|
|
80,110,047 |
|
|
|
14,684,990 |
|
Selected Condensed Consolidated Balance Sheet Data
(in thousands)
|
|
September 30, |
|
|
December 31, |
|
||
|
|
2026 |
|
|
2025 |
|
||
|
|
(unaudited) |
|
|
|
|
||
Cash and cash equivalents and marketable securities |
|
$ |
315,331 |
|
|
$ |
425,460 |
|
Total assets |
|
|
346,224 |
|
|
|
448,381 |
|
Total liabilities |
|
|
52,836 |
|
|
|
37,285 |
|
Accumulated deficit |
|
|
(489,303 |
) |
|
|
(356,567 |
) |
Total stockholders’ equity |
|
|
293,388 |
|
|
|
411,096 |
|