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Investing.com - Citizens JMP analyst downgraded BioAtla Inc. (NASDAQ:BCAB) from Market Outperform to Market Perform on Wednesday, citing cash concerns and an uncertain partnership outlook. The stock, currently trading at $0.37, has fallen over 73% in the past year, with InvestingPro data showing a WEAK overall financial health score.
The downgrade is based on a cash per share valuation of $0.31 and a platform value of $0.07, equating to a fair value of $0.38 per share, according to the research note. While other analysts maintain more optimistic targets ranging from $1 to $14, InvestingPro’s Fair Value analysis suggests the stock is currently fairly valued.
BioAtla reported second-quarter 2025 financial results with higher-than-estimated R&D spending, and its current cash position of $18.2 million is viewed as insufficient to sustain operations without a meaningful partnership.
The clinical-stage biopharmaceutical company is expected to present updated data for its BA3182 (CAB EpCAMxCD3 TCE) asset at the ESMO conference scheduled for October 17-21, 2025.
Citizens JMP indicated it would remain on the sidelines until seeing interesting data from the TCE asset or until a potential partner provides non-dilutive capital to the company.
In other recent news, Bioatla Inc. announced its second-quarter 2025 earnings, which did not meet analysts’ expectations for earnings per share. The company reported a larger-than-anticipated loss, which was a key highlight from the earnings report. Additionally, Bioatla noted a significant reduction in its research and development expenses, which may impact its future projects. Despite these financial results, the company’s stock remained stable in premarket trading, indicating investor caution. These developments come as Bioatla continues to navigate its strategic updates. Investors are closely monitoring these changes to assess the company’s financial trajectory. The earnings miss and reduced expenses are crucial factors for stakeholders to consider in evaluating Bioatla’s performance.
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