BioAtla, Inc. announced that it has secured up to $22.5 million in flexible financing agreements, comprising a $7.5 million pre‑paid advance and a $15 million standby equity purchase agreement with Yorkville Advisors Global and funds managed by Anson Advisors Inc. The pre‑paid advance was signed on November 20, 2025 and the cash was received on November 21, 2025. The advance is purchased at 95 % of face value for $7.125 million, accrues 4 % interest, and gives BioAtla the option to repay in cash or convert to common stock at a price equal to the lower of $1.39 or 95 % of the lowest daily VWAP over a look‑back period that begins no earlier than November 18, 2025.
BioAtla’s standby equity purchase agreement allows Yorkville to buy up to $15 million of the company’s common stock at a 3 % discount to market price over a three‑year period, subject to customary conditions. The agreement also includes a $300,000 commitment fee paid in 243,428 shares at $1.2324 per share, representing a 2 % fee. The financing provides immediate liquidity and a potential equity upside, addressing the company’s cash runway concerns and supporting ongoing clinical development.
BioAtla’s cash position has been under pressure. The company reported $18.2 million in cash and cash equivalents as of June 30, 2025 and $8.3 million as of September 30, 2025, while its net loss for Q3 2025 was $15.8 million, up from $10.6 million in Q3 2024. In May, Nasdaq issued a notice for failing to meet the $10 million stockholders’ equity requirement, with equity at $547,000 as of March 31, 2025. The new financing is intended to help BioAtla regain compliance and avoid delisting.
Management emphasized the strategic importance of the financing. CEO Jay M. Short said, “These agreements provide us with financial flexibility and ensure BioAtla can maintain operational momentum as we work to finalize a strategic partnership that we believe will unlock significant value for BioAtla and our shareholders.” He added that the company remains on track to complete the partnership by year‑end, a key catalyst for future value creation.
The financing arrangement is a critical step for BioAtla, which is pursuing a strategic partnership expected to close by year‑end. The additional capital will support the company’s clinical pipeline, including its CAB platform‑based antibody therapeutics for solid tumors, and help maintain its Nasdaq listing status while it seeks a partner that can accelerate development and commercialization of its assets.
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