Boundless Bio (BOLD) Q4 2025 earnings summary

Executive summary

• KOMODO-1 first-in-human clinical trial of BBI-940 is open for enrollment, targeting breast cancer patients with limited options.

• BBI-940 aims to disrupt ecDNA segregation, offering a novel approach for chromosomally unstable cancers.

• Focus remains on clinical execution and achieving proof-of-concept within the current cash runway.

Financial highlights

• Cash, cash equivalents, and short-term investments totaled $107.6 million as of December 31, 2025.

• R&D expenses were $9.8 million for Q4 2025 and $44.8 million for the full year, down from $13.3 million and $55.3 million in 2024.

• G&A expenses were $4.2 million for Q4 2025 and $18.7 million for the year, compared to $5.0 million and $18.0 million in 2024.

• Net loss was $12.9 million for Q4 2025 and $58.2 million for the year, improving from $16.4 million and $65.4 million in 2024.

• Working capital stood at $97.1 million at year-end 2025.

Outlook and guidance

• Cash runway expected to fund operations into the second half of 2028, covering the anticipated KOMODO-1 proof-of-concept readout.

• Initial safety and efficacy data from KOMODO-1 expected within the current cash runway.