By Katherine Hamilton
BioAtla cut a third of its employees earlier in March as part of a streamlining effort.
The San Diego biopharmaceutical company, which focuses on treating solid tumor cancers, said Thursday its workforce reduction is part of an effort to extend its runway beyond key clinical readouts in the first half of 2026.
BioAtla plans to retain employees essential for supporting value creating and advancing prioritized internal programs, it said.
The reductions "are intended to streamline the Company's operating cost structure to support development of its prioritized programs and set the Company up for long-term success," BioAtla said in a filing with the Securities and Exchange Commission.
The job cuts are estimated to cost $500,000 to $600,000, most of which will be paid in the second quarter of 2025, BioAtla said.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
March 27, 2025 17:05 ET (21:05 GMT)
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