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UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 24, 2026
BIOATLA,
INC.
(Exact name of Registrant as Specified
in Its Charter)
| Delaware |
001-39787 |
85-1922320 |
(State or Other Jurisdiction
of Incorporation) |
(Commission File Number) |
(IRS Employer
Identification No.) |
| |
|
|
| 11085 Torreyana Road |
|
| San Diego, California |
|
92121 |
| (Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s Telephone Number, Including Area Code: 858 558-0708
(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 |
| Common
Stock, $0.0001 par value per share |
|
BCAB |
|
The
Nasdaq Capital Market |
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 Operation and Financial Condition.
The information set forth in Item 7.01 of
this Current Report on Form 8-K filed by BioAtla, Inc. (the “Company” or “BioAtla”) on March 2, 2026, with
respect to the Company’s preliminary estimate of its cash and cash equivalents as of December 31, 2025 is incorporated herein
by reference. Such information is preliminary, has not been audited and is subject to change pending completion of the Company’s
audited financial statements for the year ended December 31, 2025. It is possible that the Company or its independent registered
public accounting firm may identify items that require the Company to make adjustments to the amounts included in this Item 2.02,
and such changes could be material. Additional information and disclosures would also be required for a more complete understanding
of the Company’s financial position and results of operations as of December 31, 2025.
The information included in this Item 2.02
and Item 7.01, is being furnished and shall not be deemed to be “filed” for the
purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject
to the liabilities of that section, nor shall it be deemed to be incorporated by reference into any registration statement or other
document filed pursuant to the Securities Act, except as shall be expressly set forth by specific reference in such filing.
Item 2.05 Costs Associated with Exit
or Disposal Activities.
On March 2, 2026, the Company announced
a workforce reduction of approximately 70%. The foregoing actions were committed to on February 24, 2026 and are intended to further
cost-containment measures in connection with the Company’s formal process to explore and evaluate strategic options to maximize
shareholder value.
The total cash payments related to this
workforce reduction are estimated to be between $0.5 and $0.6 million related to employee severance and benefit costs. The Company
expects to pay for the majority of these costs in the first quarter of 2026.
The estimates of the charges and expenditures
that the Company expects to incur in connection with the above, and the timing thereof, are subject to a number of assumptions,
and actual amounts may differ materially from estimates.
Item 5.02 Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Richard Waldron’s employment and role
as Chief Financial Officer of the Company will terminate effective as of March 2, 2026.
The Company has offered Mr. Waldon severance
pursuant to a mutual separation agreement providing for (i) a prorated portion of his salary and benefits through March 31, 2026,
(ii) extension of the exercise period of his vested stock options from ninety (90) days to two (2) years from Mr. Waldron’s
date of separation and (iii) accelerated vesting of 37,875 shares underlying Mr. Waldon’s restricted stock units, in exchange
for a general release of claims by Mr. Waldron.
Effective March 2, 2026, Chris Vasquez,
the Company’s Chief Accounting Officer, was appointed the Company’s Chief Financial Officer and principal financial
officer.
Mr. Vasquez, 50, has served as the Chief
Accounting Officer, Controller and Corporate Secretary of the Company since 2024, as Corporate Controller of the Company from 2015
to 2024, as Vice President of Finance and Secretary of the Company from 2020 to 2024 and as Senior Vice President of Finance of
the Company from 2023 to 2024. Mr. Vasquez has over 20 years of finance and business experience working with both public and private
companies. Prior to joining the Company, he spent seven years at Cricket Communications, from October 2008 to October 2015, through
its acquisition by AT&T, where his leadership role expanded to Associate Director of Accounting. He began his career with KPMG
in their San Diego office’s audit practice. Mr. Vasquez received his BS degree in Accountancy from San Diego State University
and is a Certified Public Accountant in the state of California.
There
are no family relationships between any director or executive officer of the Company and Mr. Vasquez, and there are
no arrangements or understandings between Mr. Vasquez and any other person pursuant to which he was appointed to serve as the Company’s
Chief Financial Officer. Mr. Vasquez is not a party to any arrangement or understanding
with any person pursuant to which he was appointed as an officer of the Company, nor is he a party to any transactions required
to be disclosed under Item 404(a) of Regulation S-K involving the Company or any of its subsidiaries.
Mr.
Vasquez has entered into the standard indemnification agreement with the Company, a form of which was filed as Exhibit 10.15 to
the Company’s Annual Report on Form 10-K filed with the SEC on March 28, 2025, that will remain in effect.
There will be no change in compensation
for Mr. Vasquez in connection with his appointment as Chief Financial Officer.
Item 7.01 Regulation FD.
As previously disclosed, on February 8,
2026, The Nasdaq Stock Market LLC (“Nasdaq”) Office of General Counsel notified the Company that the Nasdaq Listing
and Hearing Review Council (the “Listing Council”) has called for review Nasdaq’s February 6, 2026, decision
(the “Delist Determination”) to suspend trading in the Company’s securities effective upon the open of the market
on February 10, 2026, and ultimately delist the Company’s securities from, Nasdaq. Nasdaq had determined to suspend
trading in the Company’s securities based upon (i) the Company’s non-compliance with the $1.00 bid price
requirement under Nasdaq Listing Rule 5550(a)(2) and (ii) the Company’s failure to demonstrate compliance with the $2.5 million
stockholders’ equity requirement under Nasdaq Listing Rule 5550(b)(1), the latter notwithstanding the Company’s prior
compliance with the alternative threshold of $35 million in market value of listed securities under Nasdaq Listing Rule 5550(b)(2)
(the “MVLS Rule”) for 69 consecutive trading days. In rendering its decision, the Listing Council also determined to
stay any such suspension and delisting action pending the outcome of the Listing Council’s review. Accordingly, the Company’s
common stock will continue to trade on Nasdaq during the Listing Council review process. It is the Company’s understanding
that the Listing Council review process may take several weeks to a few months to complete. The Company believes that Nasdaq’s
delay in the consideration and confirmation of the Company’s compliance status, its subsequent failure to issue a determination
that the Company had evidenced compliance with the MVLS Rule as well as Nasdaq’s recent decision to covertly overturn longstanding
Nasdaq policy regarding the use of super-voting stock to obtain shareholder approval for a reverse stock split, has caused and
will cause irreparable harm to the Company.
As previously disclosed, on December 30,
2025, BioAtla entered into an Investment Agreement (the “Investment Agreement”) with Inversagen AI, LLC, a Delaware
limited liability company (“Inversagen AI”), and Alliance International Resources Corp., a Nevada corporation (“AIRC”).
Subject to completion of financings by Inversagen AI as set forth in the Investment Agreement, with the initial investment into
Inversagen AI being led by AIRC, BioAtla agreed to sell common units of a wholly owned subsidiary, BA 3021 SPV LLC, a Delaware
limited liability company (the “SPV”) to Inversagen AI in a private placement for $40 million over multiple closings
(the “SPV Transaction”).
In connection with the ongoing review by
the Listing Council and the recently announced formal process to explore and evaluate strategic options and related workforce reduction,
AIRC has not completed its investment into Inversagen AI, and the Company and Inversagen AI are currently in discussions with respect
to potentially revising the structure and timeline of completing the SPV Transaction.
The Company can provide no assurance that
the Listing Council’s review will result in the continued listing of the Company’s common stock on Nasdaq after the
outcome of such review or that it will timely complete the SPV Transaction.
As previously disclosed, on November 20,
2025, the Company entered into Pre-Paid Advance Agreements (the “PPAs”) with each of YA II PN, Ltd., a Cayman Islands
exempt limited partnership (“Yorkville”), Anson Investments Master Fund LP and Anson East Master Fund LP (collectively,
the “Investors”). Pursuant to the PPAs, the Investors agreed to advance to the Company $7.5 million. Also on November
20, 2025 (the “Effective Date”), the Company entered into the Standby Equity Purchase Agreement (the “SEPA”)
with Yorkville pursuant to which the Company has the right to sell to Yorkville up to $15.0 million of shares of Common Stock,
subject to certain limitations and conditions set forth in the SEPA, during the 36 months following the Effective Date (such shares,
the “SEPA Shares”).
As of December 31, 2025, the Company’s
cash and cash equivalents were approximately $7.1 million. As of March 2, 2026, no amounts remained outstanding under the PPAs.
At the Company’s option, the Company may sell SEPA Shares subject to satisfaction of the terms and conditions set forth in
the SEPA, including but not limited to certain volume limitations.
The
information included in this Item 7.01 is being furnished and shall not be deemed to be “filed” for the purposes of
Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated
by reference into any registration statement or other document filed pursuant to the Securities Act, except as shall be expressly
set forth by specific reference in such filing.
Item 8.01 Other Events.
Formal Process to Explore and Evaluate
Strategic Options
On March 2, 2026, the Company announced
that it has initiated a formal process to explore and evaluate strategic options to maximize shareholder value, including sale
of preclinical and clinical assets, licensing transactions, strategic partnerships or other corporate transactions. In connection
with the evaluation of strategic alternatives, the Company is implementing a restructuring plan that includes a workforce reduction
of approximately 70% percent as further described above in Item 2.05. A copy of the press release announcing the formal process
is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Amendment No. 1 to Agreement and Plan
of Merger
As previously disclosed, on January
30, 2026, the Company entered into the Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which (i)
a wholly owned subsidiary (the “Merger Sub”) will merge with and into the Company, with the Company surviving (the
“Merger”), (ii) every fifty (50) shares of Common Stock issued and outstanding, or held as treasury stock, will be
converted into one (1) share of common stock of the surviving corporation, which shall be the Company, and (iii) the Company’s
Amended and Restated Certificate of Incorporation would be amended and restated to, among other things, exempt future amendments
to Article IV thereof from the supermajority voting requirements of Article IX and instead default to the voting requirements provided
by Delaware law.
On March 2, 2026, the Company and Merger
Sub entered into Amendment No. 1 to the Merger Agreement (“Amendment No. 1”) to provide that the Company’s Amended
and Restated Certificate of Incorporation shall be unaffected by the Merger contemplated thereby and shall be the certificate of
incorporation of the surviving corporation.
The foregoing description of Amendment No.
1 does not purport to be complete and is qualified in its entirety by reference to the text of Amendment No. 1, a copy of which
is filed as Exhibit 1.1 to this Current Report on Form 8-K (this “Current Report”) and is incorporated herein by reference.
Forward-Looking Statements
This Current Report contains forward-looking
statements. All statements other than statements of historical facts contained herein, including, but not limited to, statements
concerning the intended benefits of the formal process; the timing and ability of the Company to complete the SPV Transaction;
and statements regarding the percentage of workforce affected by, the estimated cash payment related to, and the timing of costs
incurred from the reduction in force; preliminary estimate of cash and cash equivalents as of December 31, 2025; and the ability
of the Company to sell SEPA Shares are forward-looking statements reflecting the current beliefs and expectations of management
made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements
involve known and unknown risks, uncertainties, and other important factors that may cause the Company’s actual results,
performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied
by the forward-looking statements. Factors that could cause actual results to differ include, among others: the ability to achieve
the expected benefits of the Company’s workforce reduction, factors that raise substantial doubt about the Company’s
ability to continue as a going concern and that the Company will need additional funding to continue development of its CAB technology
platform and its CAB product candidates; the risk that preliminary or interim clinical results may not be indicative of results
from later cohorts or larger populations; potential delays in clinical and preclinical trials; the uncertainties inherent in research
and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for clinical
trials, regulatory submission dates, or regulatory approval dates, as well as the possibility of unfavorable new clinical data
and further analyses of existing clinical data; whether regulatory authorities will be satisfied with the design of and results
from the clinical studies or take favorable regulatory actions based on results from the clinical studies; the Company’s
dependence on the success of the Company’s CAB technology platform; the Company’s ability to enroll patients in the
Company’s ongoing and future clinical trials; the successful selection and prioritization of assets to focus development
on selected product candidates and indications; the Company’s ability to form collaborations and partnerships with third
parties and the success of such collaborations and partnerships; the Company’s reliance on third parties for the manufacture
and supply of the Company’s product candidates for clinical trials; the Company’s reliance on third parties to conduct
the Company’s clinical trials and some aspects of the Company’s research and preclinical testing; potential adverse
impacts due to geopolitical or macroeconomic events outside of the Company’s control, including health epidemics or pandemics;
and those other risks and uncertainties described in the section titled “Risk Factors” in the Company’s Annual
Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 27, 2025, the Company’s
Quarterly Reports on Form 10-Q filed with the SEC on May 6, 2025, August 7, 2025 and November 13, 2025 and the Company’s
subsequent filings with the SEC. Any forward-looking statements contained in this Current Report speak only as of the date hereof,
and the Company specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information,
future events or otherwise.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| |
|
|
|
Exhibit
Number
|
|
Description |
| 1.1 |
|
Amendment No. 1 to Agreement and Plan of Merger, dated as of March 2, 2026, by and between BioAtla, Inc. and BA Merger Sub, Inc. |
| 99.1 |
|
Press Release dated March 2, 2026. |
| 104 |
|
Cover Page Interactive Data File - the cover page XBRL tags are 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 hereunto duly authorized.
| |
|
|
BioAtla, Inc. |
| |
|
|
|
| Date: |
March 2, 2026 |
By: |
/s/ Jay M. Short, Ph.D. |
| |
|
|
Jay M. Short, Ph.D.
Chief Executive Officer |
Exhibit
99.1
BioAtla
Announces Formal Process to Evaluate Strategic Options to Monetize Assets
SAN
DIEGO, March 2, 2026 (GLOBE NEWSWIRE) – BioAtla, Inc. (NASDAQ: BCAB or the “Company”), a global clinical-stage
biotechnology company focused on the development of Conditionally Active Biologic (CAB) antibody therapeutics for the treatment
of solid tumors, announced that the Board of Directors has initiated a formal process to explore and evaluate strategic options
to maximize shareholder value, including the sale of preclinical and clinical assets, licensing transactions, strategic partnerships
or other corporate transactions. Concurrently, the Company is implementing a restructuring plan to significantly reduce operating
expenses, including a workforce reduction of approximately 70% and expansion of our cost-containment measures. The Company intends
to retain all employees essential for supporting value creation as part of its strategic review.
BioAtla
has engaged Tungsten Advisors as the Company’s exclusive strategic financial advisor. There can be no assurance that this
process will result in any such transaction. BioAtla does not intend to provide updates until the Board of Directors approves
a specific action or otherwise determines whether disclosure is appropriate or required.
About
BioAtla®, Inc.
BioAtla
is a global clinical-stage biotechnology company with operations in San Diego, California. Utilizing its proprietary CAB platform
technology, BioAtla develops novel, reversibly active monoclonal and bispecific antibodies and other protein therapeutic product
candidates. CAB product candidates are designed to have more selective targeting, greater efficacy with lower toxicity, and more
cost-efficient and predictable manufacturing than traditional antibodies. BioAtla has a robust pipeline consisting of ADCs and
T cell engagers (TCEs) that utilize its conditionally active platform technology utilizing pH sensitivity to minimize on-target,
off-tumor toxicity. BioAtla has extensive and worldwide patent coverage for its CAB platform technology and products with greater
than 780 active patent matters, more than 500 of which are issued patents. Broad patent coverage in all major markets include
methods of making, screening and manufacturing CAB product candidates in a wide range of formats and composition of matter coverage
for specific products. To learn more about BioAtla, Inc., visit www.bioatla.com.
Clinical
stage pipeline:
| ● | Ozuriftamab
vedotin (CAB-ROR2-ADC) - Phase 3 in OPSCC |
| ● | Mecbotamab
vedotin (CAB-AXL-ADC) - Phase 2 in Sarcoma (soft tissue and bone) and mKRAS NSCLC |
| ● | Evalstotug
(CAB-CTLA-4) - Phase 2 in Unresectable and/or Metastatic Cutaneous Melanoma |
| ● | BA3182
– (dual CAB-EpCAM x CAB-CD3 T cell engager) - Phase 1 in adenocarcinoma - BioAtla
will continue to conduct the Phase 1 clinical study. |
Pre-clinical
stage pipeline:
| |
● |
BA3361 – (CAB-Nectin4-ADC) - data in breast cancer (BT474,
T47D), lung cancer (NCI-H322), bladder cancer (HT1376) and pancreatic cancer models; IND-approved. |
| |
● |
BA3151 – (CAB-B7H4-ADC) - data in breast cancer (MX-1)
models. |
| |
● |
BA3142 – (dual CAB-B7H3 x CAB-CD3 TCE) – IND ready;
data in melanoma (A375) and pharyngeal cancer (Detroit 562) models. |
| |
● |
BA3311 – (EGFR x CAB-CD3 TCE) – data in lung cancer
(A549, HCC827), breast cancer (BT474), and colon cancer (HCT116) models. |
| |
● |
BA3241 – (dual CAB-Trop2 x CAB-CD3 TCE) – data in
epidermoid cancer (A431) |
Partnered
Program:
| |
● |
BA3362 – (dual CAB-Nectin4 x CAB-CD3 TCE) – out-licensed
to Context Therapeutics for up to $133.5 Million plus royalties. |
About
BA3182 (CAB-EpCAM x CAB-CD3 Bispecific T-cell Engager Antibody)
BioAtla
is developing BA3182 as a potential anticancer therapy for patients with advanced adenocarcinoma. BA3182 is a (CAB) EpCAM x (CAB)
CD3 bispecific T cell engager antibody with binding sites for EpCAM and CD3ε designed to bind their respective targets specifically
and reversibly under the conditions found in the tumor microenvironment (TME) and to have reduced binding outside of the TME.
The CAB selective binding to both the CAB EpCAM and CAB CD3ε arms are required to activate the T cell engagement against
the tumor, thus enabling the combined selectivity of each CAB binding arm in the bispecific antibody. BioAtla continues to conduct
the ongoing Phase 1 study to evaluate the safety, pharmacokinetics, and efficacy of BA3182 in advanced adenocarcinoma patients.
About
Ozuriftamab Vedotin (Oz-V)
Oz-V,
CAB-ROR2-ADC, is a conditionally and reversibly active antibody drug conjugate directed against ROR2, a transmembrane receptor
tyrosine kinase that is present across many different solid tumors including head and neck, lung, cervical, triple-negative breast
cancer, and melanoma. Overexpression of ROR2, a non-canonical wnt5A signaling receptor, forms a cancer axis that is associated
with poor prognosis and resistance to chemo- and immunotherapies. This Phase 3 stage clinical asset is targeting the treatment
of OPSCC patients who have previously progressed on PD-1/L1 therapies with or without platinum chemotherapy. HPV associated expression
of E6 and/or E7 oncoproteins drives cancer progression by upregulating ROR2 expression. As such, there is potential to expand
the application of Oz-V more broadly beyond OPSCC to all HPV+ cancers, which represents a market opportunity of over $7 billion
worldwide. The FDA granted Fast Track Designation to Oz-V for the treatment of patients with recurrent or metastatic squamous
cell carcinoma of the head and neck (SCCHN).
About
OPSCC
OPSCC
is a subset of squamous cell carcinoma of the head and neck (SCCHN) arising from the squamous cells that line the oropharynx,
the middle part of the throat. This anatomic region is located behind the oral cavity and OPSCC typically involves tonsils,
soft palate, pharyngeal walls, and/or the base of the tongue. A striking year-to-year increase in OPSCC is due to the rapidly
increasing incidence of HPV infections which currently represents approximately 80% of OPSCC in the United States. The prognosis
is currently poor for patients with recurrent/metastatic OPSCC who have previously received standard treatments including
surgery, radiation, platinum-based chemotherapy, and PD-1 inhibitor therapy.
About
Mecbotamab Vedotin (Mec-V)
Mecbotamab
vedotin (Mec-V), CAB AXL-ADC, is a conditionally and reversibly active antibody drug conjugate targeting the receptor tyrosine
kinase AXL. This Phase 2 stage clinical asset is targeting multiple solid tumor indications, including the treatment of mKRAS
NSCLC and soft tissue sarcoma.
About
Evalstotug
Evalstotug,
is a CAB anti-CTLA-4 antibody that is anticipated to enable safer anti-CTLA-4 antibody combination therapies, such as with anti-PD-1
antibody checkpoint inhibitors. Like our other CAB candidates, this Phase 2 clinical asset is designed to be conditionally and
reversibly active in the TME. Evalstotug is being developed as a potential therapeutic for multiple solid tumor indications that
are known to be responsive to CTLA-4 treatment in combination with a PD-1 blocking agent.
Forward-looking
Statements
Statements
in this press release contain “forward-looking statements” that are subject to substantial risks and uncertainties.
Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,”
“expect,” “believe,” “will,” “may,” “should,” “estimate,” “project,”
“outlook,” “forecast” or other similar words. Examples of forward-looking statements include, among others,
statements we make regarding BioAtla’s business plans and prospects; statements concerning the intended benefits of the
formal process; expected benefits and outcomes of our strategic partnerships and transactions; statements regarding the expected
benefits related to the reduction in force and cost containment measures and the potential regulatory approval path for our product
candidates. Forward-looking statements are based on BioAtla’s current expectations and are subject to inherent uncertainties,
risks and assumptions, many of which are beyond our control, difficult to predict and could cause actual results to differ materially
from what we expect. Further, certain forward-looking statements are based on assumptions as to future events that may not prove
to be accurate. Factors that could cause actual results to differ include, among others: factors that raise substantial doubt
about our ability to continue as a going concern and that we will need additional funding to continue development of our CAB technology
platform and our CAB product candidates; the risk that preliminary or interim clinical results may not be indicative of results
from later cohorts or larger populations; potential delays in clinical and preclinical trials; the uncertainties inherent in research
and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for clinical
trials, regulatory submission dates, or regulatory approval dates, as well as the possibility of unfavorable new clinical data
and further analyses of existing clinical data; whether regulatory authorities will be satisfied with the design of and results
from the clinical studies or take favorable regulatory actions based on results from the clinical studies; our dependence on the
success of our CAB technology platform; our ability to enroll patients in our ongoing and future clinical trials; the successful
selection and prioritization of assets to focus development on selected product candidates and indications; our ability to form
collaborations and partnerships with third parties and the success of such collaborations and partnerships; our reliance on third
parties for the manufacture and supply of our product candidates for clinical trials; our reliance on third parties to conduct
our clinical trials and some aspects of our research and preclinical testing; potential adverse impacts due to geopolitical or
macroeconomic events outside of our control, including health epidemics or pandemics; and those other risks and uncertainties
described in the section titled “Risk Factors” in our Annual Report on Form 10-K filed with the Securities and Exchange
Commission (the “SEC”) on March 27, 2025, our Quarterly Reports on Form 10-Q filed with the SEC on May 6, 2025, August
7, 2025 and November 13, 2025 and our subsequent filings with the SEC. Forward-looking statements contained in this press release
are made as of this date, and BioAtla undertakes no duty to update such information except as required under applicable laws.
External
Contact:
Joyce Allaire
LifeSci
Advisors, LLC
jallaire@lifesciadvisors.com
