BCAB - BioAtla wins FDA nod to study adenocarcinoma candidate

• Cancer-focused biotech BioAtla ( NASDAQ: BCAB ) announced Thursday that the FDA cleared its investigational new drug (IND) for BA3182, a bispecific antibody targeting advanced adenocarcinoma.
• Adenocarcinoma can develop in almost any area of the body, but the condition is most common in the lung, prostate, breast, pancreas, esophagus, colon/rectum, and stomach.
• Chief Executive Jay Short highlighted the company’s cash runway with the announcement. Short estimates BioAtla’s ( BCAB ) current liquidity level is adequate to fund operations into 2025 “through several value generating milestones for our current clinical programs as well as the initiation of the BA3182 clinical trial.”
• With the FDA OK to conduct a first-in-human study for anticancer therapy, the company expects to start a Phase 1 dose-escalation and expansion study for BA3182 in 2023.
• Early this year, BioAtla ( BCAB ) expected a Phase 1 trial for BA3182 to begin in H1 2023 .

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