BCAB News & Events

Context Therapeutics (CNTX) announced the amendment of the company's exclusive license agreement, dated September 23, 2024, with BioAtla (BCAB). The amendment removes all future milestone and royalty obligations owed by the company for CT-202, the company's Nectin-4 x CD3 T cell engager, in exchange for a $4.5M upfront payment, and a second and final $2M payment due by August 1, 2026.

BioAtla trading halted, news pending

BioAtla announced that it will effect a 50-for-1 share consolidation of its common stock, par value $0.0001 per share, that is expected to become effective on April 6 at 12:01 a.m. Eastern Time. The common stock will continue to trade on Nasdaq under the existing symbol (BCAB) and is expected to begin trading on a split-adjusted basis when the market opens on April 6. The share consolidation is intended to increase the per share trading price of the common stock to enable the company to regain compliance with the $1.00 minimum bid price requirement for continued listing on Nasdaq.

BioAtla's 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 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.