BBOT dropped ~38% in two days. Stifel, Leerink, Canaccord, and JPMorgan lowered targets but did not downgrade ratings. JPMorgan sees a disconnect vs pipeline value.

Click to view the official SEC document.

One-quarter vests on each employee’s first anniversary, followed by 36 monthly installments; the $9.28 exercise price matched Nasdaq’s Aug. 10 close.

Click to view the official SEC document.

BridgeBio Oncology Therapeutics (Nasdaq: BBOT) reported second quarter 2026 results and clinical progress for its RAS-pathway pipeline targeting KRAS and PI3Kα malignancies. As of June 30, 2026, BBOT held $344.1 million in cash, cash equivalents and marketable securities, which the company expects will fund operations into 2028.During the quarter, BBOT advanced monotherapy and combination cohorts for all three lead programs. It continued enrolling the BBO-8520 plus pembrolizumab NSCLC cohort and initiated a BBO-8520 plus BBO-10203 combination in KRASG12C NSCLC. For BBO-11818, BBOT continued monotherapy dose escalation, began dosing in combination with cetuximab, and after quarter-end initiated a combination with BBO-10203. At AACR, BBOT presented preclinical data showing potent activity of BBO-11818 in KRASG12D/V models, strong combination effects with cetuximab or BBO-10203, and complete tumor regressions when combined with anti–PD-1 in models.BBO-10203 combination cohorts in HR+ breast cancer, HER2+/HR− breast cancer and colorectal cancer remained open for enrollment, supported by preclinical data demonstrating strong in vivo combination effects with tucatinib or trastuzumab in HER2-amplified models. Second quarter 2026 research and development expenses rose to $49.2 million from $27.4 million a year earlier, while general and administrative expenses increased to $11.0 million from $2.7 million, reflecting standalone operations, a de-SPAC transaction and one-time severance. Net loss widened to $56.5 million compared to $28.4 million in the prior-year quarter. On the balance sheet, BBOT reported total assets of $376.7 million, total liabilities of $53.6 million and stockholders’ equity of $323.1 million as of June 30, 2026.