BioAtla, Inc. (BCAB) Balance Sheet
BCAB balance sheet, 2025
December 31, 2025 · U.S. dollars$13.8M assets = $50.0M liabilities + −$36.2M equity
Liabilities exceed assets: shareholders’ equity is negative (−$36.2M).
Both columns are drawn to the same scale: what BCAB owns equals what it owes plus shareholders’ equity. Hover a block for its value.
BCAB financial health
Descriptive bands, not a rating. Fiscal 2025.
BCAB balance sheet trends, 2018–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $16.6M2018 | $13.8M2025 | −2.6%/yr | |
| Total liabilities | $45.1M2018 | $50.0M2025 | +1.5%/yr | |
| Shareholders’ equity | −$28.5M2018 | −$36.2M2025 | — | |
| Cash & short-term investments | $10.9M2018 | $7.1M2025 | −5.9%/yr | |
| Total debt | $15.0M2018 | $6.2M2025 | −11.9%/yr | |
| Net cash (debt) | −$4.1M2018 | $918,0002025 | +$5.1M | |
| Working capital | $3.5M2018 | −$13.9M2025 | −$17.4M | |
| Book value per share | −$65.932018 | −$30.762025 | — | |
| Current ratio | 1.382018 | 0.372025 | −1.01 | |
| Debt / equity | 0.002020 | 0.062024 | +0.06 | |
| Shares outstanding | 432K2018 | 1.2M2025 | +15.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BCAB assets
BCAB liabilities and equity
BCAB debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
BCAB balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Cash & short-term investments | $7.1M | $49.0M | $111.5M | $215.5M | $245.0M | $238.6M | $3.7M | $10.9M |
| Cash & equivalents | $7.1M | $49.0M | $111.5M | $215.5M | $245.0M | $238.6M | $3.7M | $10.9M |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $895,000 | $2.2M | $4.9M | $4.9M | $2.3M | $2.1M | $803,000 | $1.8M |
| Total current assets | $8.0M | $51.2M | $116.4M | $220.4M | $247.3M | $240.7M | $4.5M | $12.7M |
| Property, plant & equipment (net) | $5.7M | $1.2M | $3.1M | $5.2M | $7.0M | $4.1M | $4.7M | $3.9M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $163,000 | $0 | $154,000 | $154,000 | $154,000 | $154,000 | $154,000 | $97,000 |
| Total assets | $13.8M | $52.4M | $119.7M | $225.7M | $254.4M | $244.9M | $9.3M | $16.6M |
| Liabilities | ||||||||
| Accounts payable | $8.2M | $1.9M | $3.8M | $4.2M | $1.2M | $2.5M | $5.1M | $2.0M |
| Short-term debt | $1.4M | $836,000 | $1.6M | $1.5M | $1.4M | $682,000 | $9.7M | — |
| Deferred revenue | — | — | — | — | — | $19.8M | $1.4M | $169,000 |
| Total current liabilities | $21.9M | $14.5M | $28.3M | $23.1M | $19.8M | $32.3M | $26.7M | $9.2M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $682,000 | $8.4M | $15.0M |
| Lease obligations | $6.2M | $836,000 | $2.5M | $4.0M | $5.4M | $0 | — | — |
| Other long-term liabilities | $28.1M | $23.6M | $20.6M | $22.3M | $23.8M | $2.0M | $30.2M | $20.9M |
| Total liabilities | $50.0M | $38.2M | $49.0M | $45.4M | $43.6M | $35.0M | $65.3M | $45.1M |
| Shareholders' equity | ||||||||
| Common stock & paid-in capital | $6,000 | $6,000 | $5,000 | $5,000 | $4,000 | $3,000 | $750,000 | $750,000 |
| Retained earnings (deficit) | −$545.6M | −$486.0M | −$416.3M | −$292.8M | −$186.3M | −$90.9M | −$148.4M | −$118.6M |
| Accumulated other comprehensive income | — | — | $0 | — | $0 | $0 | $0 | −$1.4M |
| Total shareholders' equity | −$36.2M | $14.3M | $70.7M | $180.3M | $210.8M | $210.0M | −$56.0M | −$28.5M |
| Key figures | ||||||||
| Total debt | $6.2M | $836,000 | $2.5M | $4.0M | $5.4M | $682,000 | $18.1M | $15.0M |
| Net cash (debt) | $918,000 | $48.2M | $109.0M | $211.5M | $239.6M | $237.9M | −$14.4M | −$4.1M |
| Working capital | −$13.9M | $36.7M | $88.1M | $197.3M | $227.5M | $208.4M | −$22.2M | $3.5M |
| Tangible book value | −$36.2M | $14.3M | $70.7M | $180.3M | $210.8M | $210.0M | −$56.0M | −$28.5M |
| Book value per share | −$30.76 | $14.68 | $73.96 | $231.64 | $305.00 | $311.87 | −$83.12 | −$65.93 |
| Shares outstanding | 1.2M | 971K | 956K | 779K | 691K | 673K | 673K | 432K |
| Current ratio | 0.37 | 3.52 | 4.11 | 9.53 | 12.48 | 7.46 | 0.17 | 1.38 |
| Quick ratio | 0.32 | 3.37 | 3.93 | 9.32 | 12.36 | 7.40 | 0.14 | 1.18 |
| Debt / equity | — | 0.06 | 0.03 | 0.02 | 0.03 | 0.00 | — | — |
| Equity / assets | −261.7% | 27.2% | 59.1% | 79.9% | 82.9% | 85.7% | −599.4% | −171.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $1.5M | $2.0M | $7.1M | $8.3M | $18.2M | $32.4M | $49.0M | $56.5M | $61.7M | $80.6M | $111.5M | $141.3M |
| Cash & equivalents | $1.5M | $2.0M | $7.1M | $8.3M | $18.2M | $32.4M | $49.0M | $56.5M | $61.7M | $80.6M | $111.5M | $141.3M |
| Receivables | $2.0M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $714,000 | $1.1M | $895,000 | $1.4M | $2.4M | $5.2M | $2.2M | $4.1M | $4.8M | $5.8M | $4.9M | $6.2M |
| Total current assets | $4.3M | $3.1M | $8.0M | $9.7M | $20.6M | $37.5M | $51.2M | $60.6M | $66.5M | $86.4M | $116.4M | $147.5M |
| Property, plant & equipment (net) | $5.1M | $5.3M | $5.7M | $6.1M | $6.4M | $753,000 | $1.2M | $1.7M | $2.1M | $2.6M | $3.1M | $3.7M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $163,000 | $163,000 | $163,000 | $163,000 | $163,000 | $0 | $0 | $0 | $0 | $154,000 | $154,000 | $154,000 |
| Total assets | $9.5M | $8.6M | $13.8M | $15.9M | $27.1M | $38.3M | $52.4M | $62.2M | $68.6M | $89.2M | $119.7M | $151.4M |
| Liabilities | ||||||||||||
| Accounts payable | $19.5M | $12.1M | $8.2M | $5.9M | $4.6M | $4.7M | $1.9M | $2.9M | $1.4M | $3.4M | $3.8M | $6.3M |
| Short-term debt | $1.6M | $1.6M | $1.4M | $1.2M | $805,000 | $554,000 | $836,000 | $1.3M | $1.7M | $1.5M | $1.6M | $1.6M |
| Deferred revenue | — | — | — | — | — | — | — | — | — | — | — | −$6.3M |
| Total current liabilities | $21.0M | $20.7M | $21.9M | $18.0M | $16.6M | $16.0M | $14.5M | $19.5M | $17.5M | $19.3M | $28.3M | $35.6M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $5.9M | $6.1M | $6.2M | $6.2M | $6.0M | $554,000 | $836,000 | $1.3M | $1.7M | $1.9M | $2.5M | $2.8M |
| Other long-term liabilities | $24.7M | $25.2M | $28.1M | $29.2M | $27.3M | $21.7M | $23.6M | $19.8M | $19.8M | $20.2M | $20.6M | $21.1M |
| Total liabilities | $45.7M | $45.9M | $50.0M | $47.1M | $43.9M | $37.7M | $38.2M | $39.3M | $37.3M | $39.5M | $49.0M | $56.7M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | — | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 |
| Retained earnings (deficit) | −$551.5M | −$552.0M | −$545.6M | −$535.9M | −$520.1M | −$501.4M | −$486.0M | −$471.2M | −$460.6M | −$439.5M | −$416.3M | −$389.3M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | −$36.2M | −$37.3M | −$36.2M | −$31.2M | −$16.7M | $547,000 | $14.3M | $23.0M | $31.4M | $49.7M | $70.7M | $94.7M |
| Key figures | ||||||||||||
| Total debt | $5.9M | $6.1M | $6.2M | $6.2M | $6.0M | $554,000 | $836,000 | $1.3M | $1.7M | $1.9M | $2.5M | $2.8M |
| Net cash (debt) | −$4.3M | −$4.1M | $918,000 | $2.1M | $12.2M | $31.8M | $48.2M | $55.3M | $60.0M | $78.7M | $109.0M | $138.4M |
| Working capital | −$16.8M | −$17.6M | −$13.9M | −$8.3M | $4.0M | $21.5M | $36.7M | $41.1M | $49.0M | $67.2M | $88.1M | $111.9M |
| Tangible book value | −$36.2M | −$37.3M | −$36.2M | −$31.2M | −$16.7M | $547,000 | $14.3M | $23.0M | $31.4M | $49.7M | $70.7M | $94.7M |
| Book value per share | −$21.81 | −$24.85 | −$30.76 | −$26.59 | — | — | — | — | — | $51.69 | $73.57 | $98.99 |
| Shares outstanding | 1.7M | 1.5M | 1.2M | 1.2M | — | — | — | — | — | 962K | 961K | 957K |
| Current ratio | 0.20 | 0.15 | 0.37 | 0.54 | 1.24 | 2.35 | 3.52 | 3.11 | 3.81 | 4.49 | 4.11 | 4.14 |
| Quick ratio | 0.17 | 0.09 | 0.32 | 0.46 | 1.10 | 2.02 | 3.37 | 2.90 | 3.53 | 4.19 | 3.93 | 3.97 |
| Debt / equity | — | — | — | — | — | 1.01 | 0.06 | 0.05 | 0.05 | 0.04 | 0.03 | 0.03 |
| Equity / assets | −381.2% | −435.5% | −261.7% | −196.4% | −61.7% | 1.4% | 27.2% | 36.9% | 45.7% | 55.7% | 59.1% | 62.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 31, 2026); data from EODHD.
BCAB financial position
At the end of fiscal 2025 (December 31, 2025), BioAtla had total assets of $13.8 million (down 73.6% from a year earlier), total liabilities of $50.0 million and shareholders' equity of -$36.2 million. It held $7.1 million in cash and short-term investments against $6.2 million of debt, a net cash position of $0.9 million. Its current ratio was 0.37. In the latest quarter (ended June 30, 2026) total assets were $9.5 million and equity -$36.2 million.
Related: BCAB income statement, BCAB cash flow statement, BCAB key metrics. See the BCAB stock overview for the latest quote and news.
BCAB balance sheet FAQ
What are BioAtla's total assets?
BioAtla reported total assets of $13.8 million at the end of fiscal 2025 (December 31, 2025), compared with $52.4 million a year earlier.
How much debt does BioAtla have?
BioAtla had $6.2 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does BioAtla have?
BioAtla held $7.1 million in cash and short-term investments at the end of fiscal 2025; with $6.2 million of debt that is net cash of $0.9 million.
What is BioAtla's book value?
BioAtla's shareholders' equity (book value) was -$36.2 million at the end of fiscal 2025, or −$30.76 per share.
What is BioAtla's current ratio?
BioAtla had current assets of $8.0 million and current liabilities of $21.9 million, a current ratio of 0.37 (current liabilities exceed current assets).