BioAtla announced a reduction of roughly 70% of its workforce and launched a formal strategic‑review process to explore sale, licensing, or other transactions for its antibody pipeline. The company cited constrained cash and the need to preserve value for shareholders while prioritizing personnel required for the strategic review. BioAtla’s pipeline includes conditionally active biologics (CABs), an anti‑AXL ADC and a CAB EpCAM×CD3 T‑cell engager; management said the company will continue to progress high‑priority programs while seeking partners or buyers.