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Side-by-side financial comparison of BioAtla, Inc. (BCAB) and Alaunos Therapeutics, Inc. (TCRT). Click either name above to swap in a different company.

BioAtla, Inc. is a clinical-stage biotechnology company specializing in developing proprietary conditionally active biologic therapies focused on oncology indications. Its pipeline includes multiple lead candidates targeting solid tumors, with operations centered on advancing clinical trials to deliver treatments to patients worldwide.

Alaunos Therapeutics, Inc. is a clinical-stage biotechnology company that develops novel T cell receptor (TCR) immunotherapies for the treatment of hard-to-treat solid tumors. The firm focuses on advancing precision oncology candidates targeting shared tumor antigens, serving global oncology patient populations via internal R&D and cross-sector partnerships.

BCAB vs TCRT — Head-to-Head

Bigger by revenue
TCRT
TCRT
Infinity× larger
TCRT
$3.0K
$0
BCAB

Income Statement — Q3 FY2023 vs Q4 FY2025

Metric
BCAB
BCAB
TCRT
TCRT
Revenue
$0
$3.0K
Net Profit
$-33.3M
Gross Margin
Operating Margin
Net Margin
Revenue YoY
-40.0%
Net Profit YoY
-29.3%
-20.5%
EPS (diluted)
$-0.70

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
BCAB
BCAB
TCRT
TCRT
Q4 25
$3.0K
Q3 25
$0
Q2 25
$0
Q1 25
$2.0K
Q4 24
$5.0K
Q3 24
$0
Q2 24
$4.0K
Q1 24
$1.0K
Net Profit
BCAB
BCAB
TCRT
TCRT
Q4 25
Q3 25
$-1.2M
Q2 25
$-1.1M
Q1 25
$-1.1M
Q4 24
Q3 24
$-1.1M
Q2 24
$-1.1M
Q1 24
$-1.7M
Operating Margin
BCAB
BCAB
TCRT
TCRT
Q4 25
Q3 25
Q2 25
Q1 25
-54600.0%
Q4 24
Q3 24
Q2 24
-29150.0%
Q1 24
-174200.0%
Net Margin
BCAB
BCAB
TCRT
TCRT
Q4 25
Q3 25
Q2 25
Q1 25
-53650.0%
Q4 24
Q3 24
Q2 24
-28225.0%
Q1 24
-168200.0%
EPS (diluted)
BCAB
BCAB
TCRT
TCRT
Q4 25
Q3 25
$-0.55
Q2 25
$-0.63
Q1 25
$-0.67
Q4 24
Q3 24
$-0.70
Q2 24
$-0.71
Q1 24
$-1.05

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
BCAB
BCAB
TCRT
TCRT
Cash + ST InvestmentsLiquidity on hand
$141.3M
$1.4M
Total DebtLower is stronger
Stockholders' EquityBook value
$94.7M
$2.2M
Total Assets
$151.4M
$3.0M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BCAB
BCAB
TCRT
TCRT
Q4 25
$1.4M
Q3 25
$1.9M
Q2 25
$2.9M
Q1 25
$319.0K
Q4 24
$1.1M
Q3 24
$1.7M
Q2 24
$2.5M
Q1 24
$4.1M
Stockholders' Equity
BCAB
BCAB
TCRT
TCRT
Q4 25
$2.2M
Q3 25
$2.8M
Q2 25
$3.7M
Q1 25
$1.1M
Q4 24
$2.1M
Q3 24
$2.7M
Q2 24
$3.8M
Q1 24
$4.8M
Total Assets
BCAB
BCAB
TCRT
TCRT
Q4 25
$3.0M
Q3 25
$3.7M
Q2 25
$4.7M
Q1 25
$2.1M
Q4 24
$2.8M
Q3 24
$3.5M
Q2 24
$4.7M
Q1 24
$6.0M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
BCAB
BCAB
TCRT
TCRT
Operating Cash FlowLast quarter
$-27.3M
$-2.9M
Free Cash FlowOCF − Capex
$-3.0M
FCF MarginFCF / Revenue
-98900.0%
Capex IntensityCapex / Revenue
3266.7%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
BCAB
BCAB
TCRT
TCRT
Q4 25
$-2.9M
Q3 25
$-844.0K
Q2 25
$-701.0K
Q1 25
$-772.0K
Q4 24
$-5.0M
Q3 24
$-781.0K
Q2 24
$-1.7M
Q1 24
$-1.9M
Free Cash Flow
BCAB
BCAB
TCRT
TCRT
Q4 25
$-3.0M
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
FCF Margin
BCAB
BCAB
TCRT
TCRT
Q4 25
-98900.0%
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Capex Intensity
BCAB
BCAB
TCRT
TCRT
Q4 25
3266.7%
Q3 25
Q2 25
Q1 25
Q4 24
0.0%
Q3 24
Q2 24
0.0%
Q1 24
0.0%

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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