Financial Statements — BCAX
Balance Sheet
(in millions USD)| Metric | Q1
2026 | Q3
2025 | Q2
2025 | Q1
2025 | Q3
2024 |
|---|
| Cash & Equivalents | 323.46 | 171.67 | 436.61 | 462.07 | 520.76 |
| Short-term Investments | 216.29 | 118.49 | -- | -- | -- |
| Total Current Assets | 544.92 | 297.37 | 444.39 | 470.75 | 521.51 |
| Property, Plant & Equipment | 0.35 | 0.14 | 0.12 | 0.14 | 0.13 |
| Total Non-current Assets* | 8.68 | 127.32 | 9.20 | 7.32 | 2.66 |
| Total Assets | 553.60 | 424.69 | 453.59 | 478.08 | 524.17 |
| Total Current Liabilities | 39.34 | 21.03 | 17.23 | 19.12 | 14.48 |
| Total Non-current Liabilities* | 0.30 | 0.88 | 1.16 | 0.00 | 0.14 |
| Total Liabilities | 39.64 | 21.91 | 18.39 | 19.12 | 14.62 |
| Retained Earnings | (415.18) | (321.58) | (285.25) | (257.86) | (200.06) |
| Total Stockholder Equity | 513.96 | 402.78 | 435.20 | 458.96 | 509.56 |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 |
|---|
| Research & Development | -- | -- | 33.00 | 24.80 | 34.30 | 19.90 | 15.90 |
| Selling, General & Admin | 12.74 | 8.13 | 7.70 | 7.22 | 7.46 | 6.75 | 4.76 |
| Total Operating Expenses | 60.24 | 41.12 | 40.68 | 32.02 | 41.79 | 26.64 | 20.63 |
| Operating Income | (60.24) | (41.12) | (40.68) | (32.02) | (41.79) | (26.64) | (20.63) |
| Pretax Income | (56.16) | (37.33) | (36.29) | (27.34) | (36.77) | (20.77) | (17.48) |
| Tax Provision | 0.05 | 0.05 | 0.04 | 0.05 | 0.07 | 0.18 | 0.00 |
| Net Income | (56.21) | (37.39) | (36.33) | (27.39) | (36.85) | (20.96) | (17.48) |
| Basic EPS | (0.93) | (0.67) | (0.67) | (0.50) | (0.68) | 7.22 | (1.60) |
| Diluted EPS | (0.93) | (0.67) | (0.67) | (0.50) | (0.68) | 7.22 | (1.60) |
Cash Flow Statement
(in millions USD)| Metric | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 |
|---|
| Operating Cash Flow | (37.51) | (23.89) | (29.25) | (25.59) | (28.11) | (30.03) | (44.72) |
| Capital Expenditures | 0.06 | 0.24 | 0.04 | 0.00 | 0.00 | 0.04 | 0.03 |
| Free Cash Flow* | (37.57) | (24.12) | (29.29) | (25.59) | (28.11) | (30.07) | (44.75) |
| Investing Cash Flow | 100.94 | (82.33) | (236.12) | 0.00 | 0.00 | (0.04) | 0.03 |
| Financing Cash Flow | 163.35 | 31.23 | 0.44 | 0.14 | 0.46 | (0.97) | 335.01 |
* Derived from reported values
