BioAtla, Inc. (NASDAQ: BCAB) Investor Alert: Investigation over possible Violations of Securities Laws

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An inquiry into possible securities law violations by BioAtla, Inc. and some of its directors and executives in relation to specific financial statements was announced on behalf of investors in BioAtla, Inc. (NASDAQ: BCAB) shares.

Investors who bought BioAtla, Inc. (NASDAQ: BCAB) shares have a few alternatives. To learn more, send an email to [email protected] or give them a call at (858) 779-1554.

A law firm is looking into potential claims on behalf of investors in BioAtla, Inc. (NASDAQ: BCAB) securities. The claims center around whether or not BioAtla, Inc. made materially false and misleading statements about its operations, business, and prospects at the time those statements were made.

Based in San Diego, CaliforniaA clinical-stage biopharmaceutical business called BioAtla, Inc. creates targeted and selective antibody-based medicines to treat solid tumor cancer. BioAtla, Inc. released its financial results for the fourth quarter and full year that concluded on December 31, 2022, on March 23, 2023. The CEO and co-founder of BioAtla, Inc. expressed excitement about advancing their potentially first-in-class CAB bispecific T-cell engager antibody, CAB-EpCAMxCAB-CD3 (BA3182), into the clinic after it received IND clearance. BioAtla made excellent progress in 2022 across all five of its ongoing Phase 2 trials targeting multiple tumor types for [its] two CAB-ADC product candidates, BA3011 and BA3021, as well as with [its] other promising CAB clinical asset, BA3071 (CTLA-4 antibody). BioAtla, Inc. disclosed that, among other things, their Net Loss climbed from $95.4 million in 2021 to $106.48 million in 2022. In addition, BioAtla, Inc. disclosed that from $244.97 million in 20221 to $215.5 million in 2022, its cash and cash equivalents decreased.

BioAtla, Inc. (NASDAQ: BCAB) saw a decrease in share price from $4.31 in February 2023 to as low as $1.24 on October 27, 2023.

But at BioAtla, Inc., there has been a substantial insider buying activity within the past three months. In all, four insiders bought more than $170,000 worth of company stock; none of them sold. Some speculate that phrase can be taken to imply a hopeful perspective.

From the low in October to as high as $3.22 per share in late December 2023 and $3.00 per share in early February 2024, BioAtla, Inc. (NASDAQ: BCAB) shares climbed.

Upendar Golla filed a complaint in the Delaware Court of Chancery on February 6, 2024, against BioAtla, Inc. and its board of directors. The plaintiff claims in his complaint that the Board members violated their fiduciary duties of care, loyalty, and good faith by adopting certain provisions in the Company’s advance notice bylaws, and that other provisions are invalid and unenforceable. On behalf of the putative class, the plaintiff also requests an award of lawyers’ fees and other costs and expenses in addition to declaratory, equitable, and injunctive relief. The firm announced that the Board has decided not to enforce the challenged provisions for its upcoming 2024 annual meeting of stockholders while the Delaware Litigation is still active.

NASDAQ: BCAB shares closed at $2.41 per share on February 21, 2024.

Shareholders Foundation should be contacted by those who bought shares in BioAtla, Inc. (NASDAQ: BCAB), as they have specific alternatives.

Get in touch:

Foundation for Shareholders, Inc.Michael Daniels: +1-(858)-779-1554; 3111 Camino Del Rio North, Suite 42392108, San Diego+1-(858)[email protected] is the fax number.

Regarding:

As a professional portfolio monitoring and settlement claim filing service, The Shareholders Foundation, Inc. notifies investors of securities class actions, settlements, verdicts, and other legal developments pertaining to the stock and financial markets. It also conducts research on shareholder issues. With a vast network of contacts, Shareholders Foundation, Inc. provides support, guidance, and aid to each and every shareholder. It is not a law firm, The Shareholders Foundation, Inc. The Shareholders Foundation is not involved in the filed, reached, or settled cases, investigations, or settlements mentioned. The public is offered this information as a service. It should not be relied upon and is not meant to be legal advice.

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