Detailed financial statements for BridgeBio Oncology Therapeutics Inc. (BBOT): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
BridgeBio Oncology Therapeutics, Inc., a clinical-stage biotechnology company, engages in the development of small-molecule therapeutics for the treatment of renin-angiotensin system and phosphoinositide 3-kinase malignancies in the United States.
Analysis Summary
Trailing-twelve-month margins: gross margin 0.0%, operating margin 0.0%, net margin 0.0%.
At the current price of $4.76, BBOT has negative trailing earnings (P/E not meaningful) and an ROE of -46.90%. Market capitalisation stands at $381M.
Balance sheet quality for BBOT: current ratio of 12.1, net cash position of $422.7M. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Revenue | 0 | 0 | 0 | 0 | 0 |
| Cost of Revenue | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | 0 | 0 | 0 | 0 | 0 |
| Research & Development | 0 | 0 | $56.3M | $73.1M | $121.2M |
| Selling, General & Admin | $43357 | $3520 | $8.5M | $7.8M | $24.6M |
| Operating Expenses | $43357 | $3520 | $64.8M | $80.9M | $145.8M |
| Operating Income | -$43357 | -$3520 | -$64.8M | -$80.9M | -$145.8M |
| EBITDA | -$43357 | -$3520 | -$64.7M | -$80.7M | -$145.2M |
| Interest Expense | 0 | 0 | 0 | 0 | 0 |
| Pre-tax Income | -$43357 | -$3520 | -$64.7M | -$74.3M | -$134.0M |
| Income Tax | 0 | 0 | 0 | 0 | 0 |
| Net Income | -$43357 | -$3520 | -$64.7M | -$74.3M | -$134.0M |
| EPS | $-0.00 | $0.00 | $-0.00 | $-5756.41 | $-4.30 |
| EPS (Diluted) | $-0.00 | $-0.00 | $-3.16 | $-5756.41 | $-4.30 |
| Shares Outstanding (Diluted) | $20.5M | $20.5M | $20.5M | $12903 | $31.1M |
Income Statement (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Revenue | 0 | 0 | 0 | 0 |
| Gross Profit | 0 | 0 | -$186000 | 0 |
| Operating Income | -$49.2M | -$43.4M | -$46.2M | -$60.2M |
| EBITDA | -$49.0M | -$43.2M | -$46.0M | -$56.5M |
| Net Income | -$44.8M | -$38.8M | -$42.1M | -$56.5M |
| EPS | $-1.03 | $-0.48 | $-526.11 | $-705.20 |
| EPS (Diluted) | $-1.90 | $-1.25 | $-1.35 | $-705.20 |
Balance Sheet (10y)
| Year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Cash & Equivalents | 0 | 0 | 0 | $1.7M | $373.7M |
| Short-term Investments | 0 | 0 | 0 | 0 | $51.8M |
| Receivables | 0 | 0 | 0 | 0 | $386000 |
| Inventory | 0 | 0 | 0 | 0 | 0 |
| Total Current Assets | 0 | 0 | 0 | $1.9M | $425.5M |
| Property, Plant & Equipment | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| Total Assets | $144281 | $144578 | $332894 | $194.4M | $448.4M |
| Accounts Payable | 0 | 0 | 0 | 0 | $1.4M |
| Short-term Debt | $36961 | $43106 | $70095 | 0 | 0 |
| Total Current Liabilities | $162638 | $166455 | $396463 | $187515 | $35.0M |
| Long-term Debt | 0 | 0 | 0 | 0 | $2.2M |
| Total Liabilities | $162638 | $166455 | $396463 | $5.7M | $37.3M |
| Retained Earnings | -$43357 | -$46877 | -$88569 | -$3.7M | -$356.6M |
| Total Equity | -$18357 | -$21877 | -$63569 | $188.7M | $411.1M |
| Total Debt | $36961 | $43106 | $70095 | 0 | $2.8M |
| Net Debt | $36961 | $43106 | $70095 | -$1.7M | -$422.7M |
| Working Capital | -$162638 | -$166455 | -$396463 | $1.8M | $390.4M |
Balance Sheet (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Cash & Equivalents | $408.7M | $373.7M | $52.7M | $54.1M |
| Total Assets | $484.8M | $448.4M | $417.6M | $376.7M |
| Total Liabilities | $38.1M | $37.3M | $45.4M | $53.6M |
| Total Equity | $446.7M | $411.1M | $372.3M | $323.1M |
| Total Debt | $2.9M | $2.8M | $2.6M | $2.5M |
Cash Flow (10y)
| Year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Net Income | -$74 | -$3520 | -$64.7M | $7.6M | -$134.0M |
| Depreciation & Amortization | 0 | 0 | $92000 | 0 | $610000 |
| Stock-based Compensation | 0 | 0 | $16.5M | $271572 | $5.9M |
| Change in Working Capital | 0 | 0 | -$3.9M | -$104613 | $6.4M |
| Operating Cash Flow | 0 | 0 | -$52.1M | -$763820 | -$113.9M |
| Capital Expenditure | 0 | 0 | -$414000 | 0 | -$606000 |
| Acquisitions | 0 | 0 | 0 | 0 | 0 |
| Stock Repurchased | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 0 | 0 | -$52.5M | -$763820 | -$114.5M |
Cash Flow (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Operating Cash Flow | -$70.6M | -$42.2M | -$35.9M | -$44.4M |
| Capital Expenditure | -$532996 | -$73000 | -$24000 | -$47000 |
| Free Cash Flow | -$71.2M | -$42.3M | -$35.9M | -$44.4M |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Stock-based Compensation | 0 | $2.9M | 0 | $7.2M |
Growth & Margins (10y)
| Year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Net Income Growth (YoY) | | +91.9% | -1837939.8% | -14.8% | -80.5% |
| EPS Growth (YoY) | | +100.0% | | -287820400.0% | +99.9% |
| Shares Change (YoY) | | +0.0% | +0.0% | -99.9% | +241276.2% |
| FCF Growth (YoY) | | | | +98.5% | -14890.4% |
| Effective Tax Rate | -0.0% | -0.0% | -0.0% | -0.0% | -0.0% |
Per-Share Data (10y)
| Year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF Per Share | $0.00 | $0.00 | $-2.56 | $-59.20 | $-3.68 |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $20.5M | $20.5M | $20.5M | $12903 | $31.1M |
What to look at in Biotech
Most small biotechs lose money. Analysing them with P/E makes no sense — look at cash and pipeline.
- Cash Runway — Months of cash at current burn rate. <18 months = urgent dilution risk
- Annual cash burn — Rate at which they burn operating cash. Compare with cash position to project runway
- Total Debt — Biotech with no revenue + debt = recipe for bankruptcy
- R&D / Market cap — How much they invest in pipeline vs the company value — research-intensity indicator
- Market cap / Cash — If it trades near its cash, the market assigns ~0 value to the pipeline — opportunity or trap
Profitability
| Return on Equity | -46.90% |
| Return on Invested Capital | -61.10% |
| Return on Assets | -48.34% |
| Gross Margin | 0.00% |
| Operating Margin | 0.00% |
| Net Margin | 0.00% |
Financial Health
| Debt / Equity | 0.01 |
| Current Ratio | 4.69 |
Key Ratios (10y)
| Year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -4852.38 | -59301.75 | -5095.00 | -0.00 | -2.91 |
| P/B | -11371.26 | -9541.63 | -3283.71 | 0.00 | 0.95 |
| P/S | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net Margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |