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BioAtla Announces Third Quarter 2021 Financial Results And Provides Clinical And Business Update
- Mecbotamab vedotin (BA3011 ) sarcoma Phase 2 interim data read-out on-schedule for year end. Phase 1 sarcoma data presented at recent CTOS 2021 annual
About this update from Bioatla, Inc.
[{"type":"text","content":"- Mecbotamab vedotin (BA3011 ) sarcoma Phase 2 interim data read-out on-schedule for year end. Phase 1 sarcoma data presented at recent CTOS 2021 annual meeting\n - Mecbotamab vedotin (BA3011) and ozuriftamab vedotin (BA3021) continue to advance through Phase 2 in multiple indications\n - CAB-CTLA-4 Phase 1/2 clinical trial planned to be initiated by year end\n - Advancing several CAB bispecific and antibody drug conjugate (\"ADC\") product candidates in preclinical development\n - Sheri Lydick, Celgene/BMS veteran, joins BioAtla to lead commercial strategy\n - $75 million institutional private placement of common equity brings quarter ended cash balance to $270 million; expected to provide funding for operations into first half of 2024\n\n\nSAN DIEGO, Nov. 15, 2021 /PRNewswire/ -- BioAtla, Inc. (Nasdaq: BCAB), a global clinical-stage biotechnology company focused on the development of Conditionally Active Biologic (CAB) antibody therapeutics, today announced financial results for the third quarter of 2021 and provided an update on its clinical progress and business.\n\"BioAtla continues to advance the progress of the potentially registration-enabling Phase 2 clinical trials for our two lead CAB product candidates as well as our other preclinical and pipeline programs. The increase in our financial resources in the third quarter through our equity placement provides the funding into the first half of 2024 to develop these key assets and the several additional ADC and bispecific CAB candidates in our development pipeline,\" stated Jay M. Short, Ph.D., Chairman, Chief Executive Officer and co-founder of BioAtla, Inc. \"We are aggressively advancing all of our clinical programs and are on track for a sarcoma Phase 2 interim data read out by year-end for BA3011, CAB-AXL-ADC. Additionally, a clinical trial for CAB-CTLA-4 is expected to be initiated by the end of the year,\" added Scott Smith, President of BioAtla.\nAdvancing clinical trials for lead candidates Mecbotamab Vedotin (BA3011) We are developing BA3011, CAB-AXL-ADC, a conditionally and reversibly active antibody drug conjugate targeting the receptor tyrosine kinase AXL, as a potential therapeutic for multiple solid tumor types, including soft tissue and bone sarcoma, non-small cell lung cancer (NSCLC) and ovarian cancer, with other potential indications in the future. The O...