BCAB — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-13

• In May 2026, in connection with the Context Amendment, we received $4.5 million. We subsequently received the additional $2.0 million that was due by August 1, 2026. We recognized $6.5 million in revenue during the three and six months ended June 30, 2026, related to these payments under the Context…

• Consolidated net income (loss) and comprehensive income (loss)

• Collaboration and other revenue was $6.5 million and $0.0 million during the three months ended June 30, 2026 and 2025, respectively. The $6.5 million increase was due to amounts due under the Context Amendment in the current quarter.

• related to closing the Context Amendment in May 2026. The remaining $0.4 million decrease is related to facility and other allocated costs.

• Interest income was $0.0 million and $0.2 million for the three months ended June 30, 2026 and 2025, respectively. The decrease of $0.2 million was primarily due to lower cash and cash equivalents compared to the same period in 2025.

Text removed vs the prior filing · source: 10-Q · 2026-05-15

• We did not recognize any revenue during the three months ended March 31, 2026 and 2025, related to the Context License Agreement.

• Comparison of the three months ended March 31, 2026 and 2025

• Interest income was $0.04 million and $0.4 million for the three months ended March 31, 2026 and 2025, respectively. The decrease of $0.4 million was primarily due to lower cash and cash equivalents compared to the same period in 2025.

• Gain on warrant liability was $2.7 million and $1.9 million for the three months ended March 31, 2026 and 2025, respectively. The increase of $0.8 million was due to the change in fair value of the warrants which were issued in December 2024 and are adjusted to fair value at each period.

• Gain on PPAs liability was $0.3 million for the three months ended March 31, 2026 compared to zero for the three months ended March 31, 2025. The gain of $0.3 million was due to the change in fair value for our pre-paid agreement liability which was initiated in November 2025 and has been fully conv…

Text added vs the prior filing · source: 10-Q · 2026-08-13

• There were no changes in our internal control over financial reporting that occurred during the quarter ended June 30, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Text removed vs the prior filing · source: 10-Q · 2026-05-15

• as appropriate to allow timely decisions regarding required disclosure. Management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving their objectives, and management necessarily applies its judgment in evaluating…

• There were no changes in our internal control over financial reporting that occurred during the quarter ended March 31, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Text added vs the prior filing · source: 10-Q · 2026-08-13

• more time and cash resources than we anticipate. In addition, potential strategic options that require stockholder approval may not be approved by our stockholders.

• We are a Phase 2 clinical-stage biopharmaceutical company with a limited operating history upon which you can evaluate our business and prospects. We have no products approved for commercial sale and have not generated any revenue from product sales. Since the commencement of our operations, we have…

• We have incurred significant losses to date. Our ability to generate product revenue sufficient to achieve profitability will depend on the successful development and eventual commercialization of one or more of our current and future product candidates. Our net losses were $59.6 million and $69.8 m…

• If we are unable to obtain funding on a timely basis, including under our current or future collaborations, or on acceptable terms, we may have to wind down the company, delay, reduce or terminate further development of our CAB technology platform and CAB product candidates, limit strategic opportun…

• collaborations, strategic alliances, licensing arrangements and other marketing and distribution arrangements. We cannot assure you that such financing will be available at acceptable terms to us, if at all. Failure to generate sufficient cash flows from operations, raise additional capital, and red…

Text removed vs the prior filing · source: 10-Q · 2026-05-15

• We are a Phase 2 clinical-stage biopharmaceutical company with a limited operating history upon which you can evaluate our business and prospects. We have no products approved for commercial sale and have not generated any revenue from product sales. Since the commencement of our operations, we have…

• clinical trial of BA3182 (CAB-EpCAM x CAB-CD3), establishing and maintaining our intellectual property portfolio, manufacturing clinical and research material through third parties, hiring personnel, establishing product development and commercialization collaborations with third parties, raising ca…

• If we are unable to obtain funding on a timely basis, including under our current or future collaborations, or on acceptable terms, we may have to wind down the company, delay, reduce or terminate further development of our CAB technology platform and CAB product candidates, limit strategic opportun…

• are likely to occur, could cause the market price of our common stock to decline. If we are unable to raise sufficient capital when needed, our business, financial condition and results of operations will be harmed, and we will need to significantly modify our operational plans to continue as a goin…

• FDA or such foreign regulatory authorities may require us to obtain and submit additional clinical data, which could delay clinical development or marketing approval of our product candidates. In addition, while investigator-initiated trials could be useful to inform our own clinical development eff…

Text added vs the prior filing · source: 10-Q · 2026-08-13

• On August 12, 2026 (the “Effective Date”), we entered into the First Amendment (the “First Amendment”) to the Amended and Restated Exclusive License Agreement, dated November 22, 2019 (the “EXUMA License Agreement”), with EXUMA Biotech Corp. (formerly F1 Oncology, Inc.), a Delaware corporation (“EXU…

• The above description of the First Amendment is qualified in its entirety by reference to the full text of the First Amendment, a copy of which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ending September 30, 2026.

Text removed vs the prior filing · source: 10-Q · 2026-05-15

• On May 14, 2026, we entered into the Amendment to the Context License Agreement with Context. Under the terms of the Amendment, and in full consideration for the amended license rights described below, Context has agreed to pay us: (i) $4,500,000, payable within five (5) business days of the effecti…

• The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment filed as Exhibit 10.3 to this Quarterly Report on Form 10-K and incorporated herein by reference.