BBOT reports Q4 2025 results, $425M cash runway into 2028

Oncology company BBOT advances three RAS-pathway drugs with key clinical readouts and combo trials slated for 2H 2026.

Published on Mar. 5, 2026

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BBOT, a clinical-stage biopharmaceutical company focused on RAS-pathway malignancies, reported financial results for Q4 and full year 2025. The company has a $425.5 million cash runway expected to fund operations into 2028, supporting advancement of its portfolio of three clinical-stage RAS-pathway inhibitors through planned combination cohort initiations and data readouts in the second half of 2026.

Why it matters

BBOT's differentiated portfolio of RAS-pathway inhibitors is designed to enable direct dual inhibition of KRAS in both its ON and OFF states, panKRAS coverage across major KRAS mutations, and disruption of RAS:PI3Kα activation. This unique approach positions BBOT to pursue concurrent suppression of both the MAPK and PI3Kα pathways, a strategy the company believes does not exist elsewhere in the industry.

The details

In Q4 2025, BBOT reported a $38.8 million net loss, driven by increased R&D expenses for advancing its three lead programs - BBO-8520, BBO-11818, and BBO-10203 - into clinical development. The company highlighted encouraging preliminary safety and efficacy data across these programs, including a confirmed partial response in a pancreatic cancer patient treated with BBO-11818 monotherapy. BBOT plans to initiate internal combination studies of these assets later in 2026.

  • On January 9, 2025, the FDA granted Fast Track designation to BBO-8520 for the treatment of adult patients with previously treated, KRAS G12C mutated metastatic non-small cell lung cancer.
  • On January 7, 2026, BBOT announced new clinical data from the ongoing Phase 1 ONKORAS-101 trial of BBO-8520, showing a 65% objective response rate and 68% 6-month progression-free survival.
  • On April 1, 2025, BBOT announced the first patient was dosed with BBO-11818 in the ongoing Phase 1 KONQUER-101 trial for advanced solid tumors.
  • On January 7, 2026, BBOT announced preliminary clinical data for BBO-11818, including a confirmed partial response in a pancreatic cancer patient.
  • On January 7, 2026, BBOT announced preliminary clinical data for BBO-10203, demonstrating a differentiated safety profile with no hyperglycemia.

The players

BBOT

BridgeBio Oncology Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing a portfolio of novel small molecule therapeutics targeting RAS and PI3Kα malignancies.

Eli Wallace, PhD

Chief Executive Officer of BBOT.

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What they’re saying

“2025 was a transformational year for BBOT as we debuted as a public company and advanced all three of our internally discovered RAS and PI3Kα programs into clinical development.”

— Eli Wallace, PhD, Chief Executive Officer (BBOT Press Release)

What’s next

Updated clinical data for BBOT's three lead programs are expected in the second half of 2026, and the company plans to initiate internal combination studies of these assets later in the year.

The takeaway

BBOT's differentiated portfolio of RAS-pathway inhibitors positions the company to uniquely pursue concurrent suppression of both the MAPK and PI3Kα pathways, a strategy the company believes is not replicated elsewhere in the industry. With a strong cash runway and multiple data readouts on the horizon, BBOT is well-positioned to demonstrate the potential of its platform in the treatment of RAS-driven cancers.