BioAtla, Inc. (BCAB) Plans to Raise $150 Million in December 16th IPO

BioAtla, Inc. (BCAB) plans to raise $150 million in an initial public offering on Wednesday, December 16th, IPO Scoop reports. The company will be issuing 9,400,000 shares at $15.00-$17.00 per share.

In the last year, BioAtla, Inc. generated $2.6 million in revenue and had a net loss of $20.9 million. The company has a market cap of $495.8 million.

J.P. Morgan, Jefferies, Credit Suisse and BTIG served as the underwriters for the IPO.

BioAtla, Inc. provided the following description of their company for its IPO: “We are a clinical-stage biopharmaceutical company developing our novel class of highly specific and selective antibody-based therapeutics for the treatment of solid tumor cancer. Our conditionally active biologics, or CABs, capitalize on our proprietary discoveries with respect to tumor biology, enabling us to target known and widely validated tumor antigens that have previously been difficult or impossible to target. Our novel CAB therapeutic candidates exploit characteristic pH differences between the tumor microenvironment and healthy tissue. Unlike healthy tissue, the tumor microenvironment is acidic, and we have designed our antibodies to selectively bind to their targets on tumor cells under acidic pH conditions but not on targets in normal tissues. Our approach is to identify the necessary targeting and potency required for cancer cell destruction, while aiming to eliminate or greatly reduce on-target, off-tumor toxicity — one of the fundamental challenges of existing cancer therapies.   “.

BioAtla, Inc. was founded in 2007 and has 36 employees. The company is located at 11085 Torreyana Road San Diego, California 92121 and can be reached via phone at (858) 558-0708 or on the web at http://www.bioatla.com/.

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