BCAX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

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Price $17.63
Market Cap (MRQ) $1.16B
P/E -8.1
EPS $-2.52
ROE -33.0%
52W Range $14–$31

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10-Year Performance Revenue, net income, margins and EPS trends

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EPS$-2.52
2023-12-31 → 2025-12-31
Free Cash Flow$-107M
2024-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend BCAX 5Y avg Peer Median Verdict
P/E -8.1 · · ·
P/B (MRQ) 2.5 · 4.2 Fair value
Price / FCF (TTM) -8.6 · · ·
Price / Cash Flow (TTM) -8.6 · · ·
Price / Tangible Book 2.9 · · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

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Avg Surprise -14.5%
Next Report Nov 09, 2026
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Aug 11, 2026 $-0.82 $-0.85 3.2%
March 31, 2026 May 19, 2026 $-0.93 $-0.77 -20.8%
Dec. 31, 2025 $-0.68 $-0.68 0.66%
Sept. 30, 2025 $-0.67 $-0.56 -19.6%
June 30, 2025 $-0.50 $-0.58 13.8%
March 31, 2025 $-0.68 $-0.42 -60.7%
Dec. 31, 2024 $-0.39 $-0.33 -18.2%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

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Income Statement 14
Metric Trend 202520242023
R&D Expense ·$64M$31M
SG&A Expense $31M$19M$9M
Operating Expenses $156M$82M$40M
Operating Income $-156M$-82M$-40M
Interest Income $18M$15M$1M
Other Non-op $18M$15M$-12M
Pretax Income $-138M$-68M$-52M
Income Tax $217.0K$187.0K$5.0K
Net Income $-138M$-68M$-52M
EPS (Basic) $-2.52$-4.05$-89.61
EPS (Diluted) $-2.52$-4.05$-89.61
Shares (Basic) 54,676,896,00016,805,524,000580,109,000
Shares (Diluted) 54,676,896,00016,805,524,000580,109,000
EBITDA $-156M$-82M·
Balance Sheet 19
Metric Trend 202520242023
Cash & Equivalents $97M$490M$230M
Short-term Investments $318M$0·
Prepaid Expense $7M$13M$633.0K
Current Assets $422M$503M$231M
PP&E (Net) $330.0K$155.0K$202.0K
Other Non-current Assets $7M$7M$2M
Total Assets $431M$510M$234M
Accrued Liabilities ·$13M$8M
Current Liabilities $29M$18M$15M
Capital Leases $593.0K$131.0K$372.0K
Other Non-current Liabilities ·$0$17.0K
Total Liabilities $30M$18M$15M
Common Stock $7.0K$7.0K$2.0K
Paid-in Capital $760M$713M$4M
Retained Earnings $-359M$-221M$-153M
AOCI $243.0K$0·
Stockholders' Equity $401M$492M$-149M
Liabilities + Equity $431M$510M$234M
Shares Outstanding 56,600,72454,440,013640,386
Cash Flow 10
Metric Trend 202520242023
Stock-based Comp $15M$7M$2M
Deferred Tax $0$0$0
Operating Cash Flow $-107M$-75M$-46M
CapEx $280.0K$71.0K$586.0K
Investing Cash Flow $-318M$-9.0K$-586.0K
Stock Issued $29M$332M$0
Net Stock Activity $29M$332M·
Financing Cash Flow $32M$334M$272M
Net Change in Cash $-393M$259M$226M
Free Cash Flow $-107M$-75M·
Profitability 3
Metric Trend 202520242023
ROA -29.3%-18.3%·
ROE -33.0%-13.6%·
ROIC -38.8%-16.8%·
Liquidity & Solvency 2
Metric Trend 202520242023
Current Ratio 14.627.9·
Quick Ratio 14.327.2·
Per Share 4
Metric Trend 202520242023
Book Value / Share $7.09$9.04·
Cash Flow / Share $-0.00$-0.00·
Cash / Share $1.71$9.00·
EPS (TTM) $-2.52$-4.05·
Valuation (TTM) 8
Metric Trend 202520242023
Net Income TTM $-138M$-68M·
Market Cap $953M$948M·
P/E -6.7-4.3·
P/B 2.41.9·
P / Tangible Book 2.41.9·
P / Cash Flow -8.9-12.7·
P / FCF -8.9-12.7·
Earnings Yield -15.0%-23.2%·

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

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Metric 2025-12-312024-12-312023-12-31
Net Income $-138M $-68M $-52M
Diluted EPS $-2.52 $-4.05 $-89.61

Institutional owners (13F) 183 filers · $1.8B total · As of Sept. 30, 2026

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Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 183
Value held $1.8B
New positions 41
Exited positions 9
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
41 (+8 vs prior Q) 9 (-11 vs prior Q) 67 (+10 vs prior Q) 42 (+2 vs prior Q) -2.2M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
RA CAPITAL MANAGEMENT, L.P. $215,430,432 7,255,993 11.71% Shares
Siren, L.L.C. $166,352,179 5,602,970 9.04% Shares
Vestal Point Capital, LP $155,872,500 5,250,000 8.47% Shares
Deep Track Capital, LP $121,729,000 4,100,000 6.62% Shares
BlackRock, Inc. $114,249,784 3,848,090 6.21% Shares
RED TREE MANAGEMENT, LLC $93,924,820 3,163,517 5.11% Shares
TPG GP A, LLC $89,379,518 3,010,425 4.86% Shares
JANUS HENDERSON GROUP PLC $66,350,262 3,339,218 3.61% Shares
VANGUARD CAPITAL MANAGEMENT LLC $65,812,012 2,216,639 3.58% Shares
STATE STREET CORP $60,832,435 2,048,920 3.31% Shares
FRANKLIN RESOURCES INC $57,951,672 1,951,892 3.15% Shares
FMR LLC $56,205,248 1,893,070 3.05% Shares
Omega Fund Management, LLC $54,099,634 1,822,150 2.94% Shares
VANGUARD GROUP INC $36,792,904 2,186,150 2.00% Shares
GEODE CAPITAL MANAGEMENT, LLC $34,525,388 1,162,635 1.88% Shares
JPMORGAN CHASE & CO $29,808,414 1,015,965 1.62% Shares
Jones Hill Capital LP $26,501,917 892,621 1.44% Shares
ACORN CAPITAL ADVISORS, LLC $19,102,000 643,381 1.04% Shares
Aisling Capital Management LP $16,891,205 568,919 0.92% Shares
Palo Alto Investors LP $16,341,614 550,408 0.89% Shares
Rock Springs Capital Management LP $15,892,641 535,286 0.86% Shares
GOLDMAN SACHS GROUP INC $15,455,635 520,567 0.84% Shares
D. E. Shaw & Co., Inc. $14,791,350 498,193 0.80% Shares
DIMENSIONAL FUND ADVISORS LP $13,707,173 461,724 0.75% Shares
NAN FUNG TRINITY (HK) LTD $12,703,906 427,885 0.69% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $12,437,497 418,912 0.68% Shares
NORTHERN TRUST CORP $11,767,424 396,343 0.64% Shares
Candriam S.C.A. $11,074,986 373,380 0.60% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $10,851,131 365,481 0.59% Shares
Walleye Capital LLC $10,487,280 353,226 0.57% Shares
BANK OF AMERICA CORP /DE/ $10,477,720 352,904 0.57% Shares
Ensign Peak Advisors, Inc $10,160,245 342,211 0.55% Shares
VANGUARD FIDUCIARY TRUST CO $9,314,911 313,739 0.51% Shares
Clearbridge Investments, LLC $8,603,707 289,785 0.47% Shares
AMERIPRISE FINANCIAL INC $8,573,036 288,749 0.47% Shares
DAFNA Capital Management LLC $8,460,314 284,955 0.46% Shares
MORGAN STANLEY $8,428,517 283,884 0.46% Shares
MILLENNIUM MANAGEMENT LLC $7,786,321 262,254 0.42% Shares
TD Asset Management Inc $7,752,593 261,118 0.42% Shares
ALGERT GLOBAL LLC $6,924,658 233,232 0.38% Shares
Woodline Partners LP $6,908,566 232,690 0.38% Shares
SEB Asset Management AB $6,892,698 232,156 0.37% Shares
CITADEL ADVISORS LLC $6,268,806 211,142 0.34% Shares
ORBIMED ADVISORS LLC $5,673,759 191,100 0.31% Shares
Atle Fund Management AB $4,324,556 145,657 0.24% Shares
DEUTSCHE BANK AG\ $4,275,657 144,010 0.23% Shares
Bank of New York Mellon Corp $3,582,573 120,666 0.19% Shares
Napean Trading & Investment Co (Singapore) PTE Ltd $3,378,128 113,780 0.18% Shares
Hudson Bay Capital Management LP $3,117,450 105,000 0.17% Shares
Jump Financial, LLC $2,977,907 100,300 0.16% Shares

Show all 183 institutional owners →

Activists & 5%+ owners 2 positions

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Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
RA Capital Management, L.P., Peter Kolchinsky, Rajeev Shah, RA Capital Healthcare Fund, L.P. ×2 filings March 2, 2026 11.50% Amendment · SEC
TPG GP A, LLC, David Bonderman, James G. Coulter, Jon Winkelried Sept. 18, 2024 · Initial filing Capital structure SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 18 insiders · 7 officers · 11 directors

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Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Ryan Cohlhepp President, COO & Interim CEO Sept. 8, 2026 M 181,641 0 29 $-4,597,007
Claire Mazumdar Chief Executive Officer Aug. 10, 2026 M 362,152 0 17 $-4,057,326
Jennifer Larson Chief Financial Officer Aug. 12, 2026 A · 0 0 $0
Ivan Hyep Chief Financial Officer Aug. 10, 2026 M 129,855 0 17 $-3,241,989
William Schelman Chief Medical Officer May 8, 2026 A · 0 0 $0
David Raben Chief Medical Officer April 27, 2026 M 55,286 0 8 $-1,146,626
Lara Meisner Chief Legal Officer Feb. 2, 2026 A 0 0 0 $0
Jeremy Bender Director July 28, 2026 A · 0 0 $0
Christy J. Oliger Director July 28, 2026 A · 0 0 $0
Kiran Mazumdar-Shaw Director June 9, 2026 A 432,736 0 0 $0
Scott M. Robertson Director June 9, 2026 A · 0 0 $0
Jake Simson Director June 9, 2026 A · 0 0 $0
Kate Haviland Director June 9, 2026 A · 0 0 $0
Christopher Bowden Director June 9, 2026 A · 0 0 $0
Michael Powell Director June 9, 2026 A · 0 0 $0
Nils Lonberg Director June 9, 2025 A · 0 0 $0
FIL Ltd · Sept. 16, 2024 C 1,013,853 0 0 $0
FMR LLC · Sept. 16, 2024 C 1,115,333 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 28 ETFs

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Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
BBC · ETFis Series Trust I 0.84% 14,331 NS July 31, 2026 N-PORT
JDOC · J.P. Morgan Exchange-Traded Fund Tr… 0.44% 1,484 NS July 31, 2026 N-PORT
LABU · Direxion Shares ETF Trust 0.20% 37,261 NS July 31, 2026 N-PORT
IBBQ · Invesco Exchange-Traded Fund Trust … 0.08% 4,676 SH Oct. 1, 2026 Daily
VTWG · VANGUARD SCOTTSDALE FUNDS 0.07% 41,376 SH Aug. 19, 2026 Daily
IBB · iShares Trust 0.06% 285,883 SH Sept. 11, 2026 Daily
IWO · iShares Trust 0.06% 362,471 SH Sept. 11, 2026 Daily
PWS · Pacer Funds Trust 0.06% 509 NS July 31, 2026 N-PORT
VFMO · VANGUARD WELLINGTON FUND 0.04% 25,859 SH Aug. 19, 2026 Daily
VTWO · VANGUARD SCOTTSDALE FUNDS 0.04% 254,350 SH Aug. 19, 2026 Daily
IWM · iShares Trust 0.03% 1,128,793 SH Sept. 11, 2026 Daily
DFAS · Dimensional ETF Trust 0.02% 138,684 NS July 31, 2026 N-PORT
PRFZ · Invesco Exchange-Traded Fund Trust 0.02% 23,038 SH Oct. 1, 2026 Daily
FHLC · FIDELITY COVINGTON TRUST 0.01% 14,345 NS July 31, 2026 N-PORT
VXF · VANGUARD INDEX FUNDS 0.01% 490,933 SH Aug. 19, 2026 Daily
VTWV · VANGUARD SCOTTSDALE FUNDS 0.01% 4,912 SH Aug. 19, 2026 Daily
VHT · VANGUARD WORLD FUND 0.01% 88,723 SH Aug. 19, 2026 Daily
WSML · iShares Trust 0.01% 1,706 SH Sept. 11, 2026 Daily
DCOR · Dimensional ETF Trust 0.00% 5,117 NS July 31, 2026 N-PORT
DFAC · Dimensional ETF Trust 0.00% 31,212 NS July 31, 2026 N-PORT
DFAU · Dimensional ETF Trust 0.00% 7,990 NS July 31, 2026 N-PORT
ITOT · iShares Trust 0.00% 67,201 SH Sept. 11, 2026 Daily
IWV · iShares Trust 0.00% 9,534 SH Sept. 3, 2026 Daily
DFUS · Dimensional ETF Trust 0.00% 7,360 NS July 31, 2026 N-PORT
VTI · VANGUARD INDEX FUNDS 0.00% 1,676,653 SH Aug. 19, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.00% 3,692 SH Aug. 19, 2026 Daily
IWN · iShares Trust · 49,578 SH Sept. 11, 2026 Daily
ISCB · iShares Trust · 1,663 SH Sept. 11, 2026 Daily

BCAX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

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rating · 22 analysts BUY
Median target $35.00 +98.5%
7 31.8% Strong Buy
11 50.0% Buy
4 18.2% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

13 analysts · 2026-09-30

Mean target $34.54 +95.9%

← Below all targets Current price $17.63
Low$20.00 Mean$34.54 High$45.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

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FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
BCAX $953M -6.7 · · -33.0% ·
REPL $633M -2.3 · · -146.2% ·
DMRA · · 38.3% -17981.1% -167.0% ·
TRAX · · · · · ·
MNKD $1.75B 283.5 22.2% 1.7% -11.1% ·
VOR $506M -0.2 · · 83.4% ·
JANX $833M -7.5 -5.5% -1136.2% -11.7% ·
SVRA $1.23B -11.4 · · -73.4% ·
AKTS · · · · · ·
MGTX $645M -5.6 144.6% -140.3% 8062.2% ·

Latest News Recent headlines mentioning this company

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Source: SEC 10-Q filed Aug 11, 2026