B
BridgeBio Oncology Therapeutics, Inc.
BBOTCIK 0001869105NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthPharmaceutical PreparationsDelawareFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$-134.00M
Total Assets
$448.38M
Equity
$411.10M
Shares Out
80.03M
Op. Cash Flow
$-113.89M
Business
BridgeBio Oncology Therapeutics, Inc. is a special purpose acquisition company formed to effect a business combination, share exchange, asset acquisition, share purchase, reorganization or similar transaction. The company currently has no operations and offers the structure and capital-raising vehicle to complete an initial business combination; it has entered into a definitive agreement to combine with TheRas, Inc. (doing business as BridgeBio Oncology Therapeutics). Post-closing, the combined entity will operate as a clinical-stage biopharmaceutical company advancing a next-generation pipeline of novel small molecule therapeutics targeting RAS and PI3Ka malignancies. The company’s activities involve capital held in a U.S.-based trust account and prospective clinical development, licensing and partnership channels primarily in the United States and other international markets.
Summary from filing dated 2025-03-11
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Research and development | 121 | 73 | — | |
| General and administrative | 25 | 8 | 41,692 | |
| Total operating expenses | 146 | 81 | — | |
| Loss from operations | −146 | −81 | −41,692 | |
| Interest income | 11 | 6 | — | |
| Income from transition services agreements | 1 | 775,000 | — | |
| Change in fair value of participation right liability | −725,000 | −564,000 | — | |
| Other income (expense) | −35,000 | 0 | — | |
| Total other income (expense), net | 12 | 7 | — | |
| Net loss | −134 | −74 | −41,692 | |
| Net loss per share attributable to common stockholders, basic | −4.3 | −5,756 | — | |
| Net loss per share attributable to common stockholders, diluted | −4.3 | −5,756 | — | |
| Weighted-average number of shares used in computing net loss per share attributable to common stockholders, basic | 31 | 12,903 | — | |
| Weighted-average number of shares used in computing net loss per share attributable to common stockholders, diluted | 31 | 12,903 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Cash and cash equivalents | 374 | 31 | — | — | |
| Short-term marketable securities | 52 | 125 | — | — | |
| Receivables from related parties | 386,000 | 81,000 | — | — | |
| Prepaid expense and other current assets | 7 | 3 | — | — | |
| Total current assets | 432 | 159 | — | — | |
| Property and equipment, net | 956,000 | 490,000 | — | — | |
| Operating lease right-of-use asset | 2 | 0 | — | — | |
| Other non-current assets | 13 | 5 | — | — | |
| Restricted cash | 132,000 | 132,000 | — | — | |
| Total assets | 448 | 164 | 332,894 | — | |
| Accounts payable | 1 | 3 | — | — | |
| Accrued compensation and benefits | 6 | 4 | — | — | |
| Accrued research and development liabilities | 26 | 8 | — | — | |
| Accrued professional services | 674,000 | 655,000 | — | — | |
| Payables to related parties | 534,000 | 483,000 | 70,095 | — | |
| Operating lease liability, current | 522,000 | 0 | — | — | |
| Other accrued liabilities | 240,000 | 166,000 | — | — | |
| Participation right liability | 0 | 3 | — | — | |
| Total current liabilities | 35 | 20 | 396,463 | — | |
| Operating lease liability, noncurrent | 2 | 0 | — | — | |
| Total liabilities | 37 | 20 | 396,463 | — | |
| Commitments and contingencies (Note 7) | — | — | — | — | |
| Common stock, $0.0001 par value; 500,000,000 and 41,341,250 shares authorized as of December 31, 2025 and December 31, 2024, respectively; 79,991,768 and 28,415 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | 8,000 | 0 | — | — | |
| Additional paid-in capital | 768 | 44 | 24,540 | — | |
| Accumulated deficit | −357 | −223 | −88,569 | — | |
| Accumulated other comprehensive income | 16,000 | 348,000 | — | — | |
| Total stockholders' equity (deficit) | 411 | −179 | −116 | −21,877 | |
| Total liabilities, redeemable convertible preferred stock, and stockholders' equity (deficit) | 448 | 164 | 332,894 | — |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 |
|---|---|---|---|---|
| Depreciation of property and equipment | 300,000 | 200,000 | — | |
| Stock-based compensation | 6 | 4 | — | |
| Net accretion of premiums on marketable securities | −1 | −2 | — | |
| Amortization of right-of-use assets | 330,000 | 0 | — | |
| Prepaid expense and other currents assets | −3 | −1 | — | |
| Other non-current assets | −8 | −4 | — | |
| Accounts payble | −2 | 2 | — | |
| Accrued compensation and benefits | 2 | 3 | — | |
| Accrued research and development liabilities | 18 | 5 | — | |
| Accrued professional services | −102,000 | 518,000 | — | |
| Operating lease liabilities | −47,000 | 0 | — | |
| Other accrued liabilities | 74,000 | 141,000 | — | |
| Balances due to and from related parties | −254,000 | 9 | — | |
| Net cash used in operating activities | −114 | −55 | — | |
| Maturities of marketable securities | 158 | 32 | — | |
| Purchases of marketable securities | −84 | −154 | — | |
| Change in related party receivables related to cash pooling arrangement | 0 | 2 | — | |
| Purchases of property and equipment | −606,000 | −49,000 | — | |
| Net cash provided by (used in) investing activities | 73 | −121 | — | |
| Proceeds from reverse recapitalization and PIPE Financing | 373 | 0 | — | |
| Payment of deferred transaction costs | −12 | 0 | — | |
| Issuance of Series A redeemable convertible preferred stock | 0 | 6 | — | |
| Issuance of Series B redeemable convertible preferred stock, net of issuance costs | 22 | 199 | — | |
| Contribution from BridgeBio Pharma | 0 | 1 | — | |
| Exercise of common stock options for cash | 45,000 | 52,000 | — | |
| Net cash provided by financing activities | 383 | 206 | — | |
| Net increase in cash, cash equivalents, and restricted cash | 343 | 31 | — | |
| Settlement of participation right liability upon issuance of Series B redeemable convertible preferred stock | 4 | 0 | — | |
| Right-of-use asset recognized in exchange for operating lease liabilities | 3 | 0 | — | |
| Unpaid property and equipment included in accounts payable | 140,000 | 0 | — | |
| Deferred de-SPAC transaction costs included in accrued professional services | 123,000 | 0 | — | |
| Conversion of related party payables into Series A redeemable convertible preferred stock issued to BridgeBio Pharma | 0 | 20 | — | |
| Initial recognition of participation right liability in connection with issuance of Series B redeemable convertible preferred stock | 0 | 3 | — | |
| Non-cash transfers of property and equipment from BridgeBio Pharma | 0 | 54,000 | — |
Filings
Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro
Material Events
Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro
Insiders
Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro
Institutional Holders
Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro