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BBOT Debuts as a Publicly Traded Company Focused on RAS-Pathway Malignances with a Potential to AG真人官方ize the Full Promise of KRAS and PI3K Inhibition

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BridgeBio Oncology Therapeutics (NASDAQ:BBOT) has successfully completed its business combination with Helix Acquisition Corp. II, debuting as a public company on August 11, 2025. The transaction includes a $261 million PIPE investment and approximately $120 million from Helix's trust, resulting in total gross proceeds of $382 million.

The company, focused on RAS-pathway malignancies, will have approximately $490 million in total cash post-transaction. BBOT's pipeline includes three clinical-stage candidates: BBO-8520 for KRASG12C mutant lung cancer, BBO-10203 for various cancer types including breast and colorectal cancer, and BBO-11818 for KRAS mutant solid tumors.

The SPAC merger achieved a notably low redemption rate of 39%, the second-lowest for a biotech de-SPAC since 2022, demonstrating strong investor confidence. Trading will commence on Nasdaq under ticker "BBOT" on August 12, 2025.

[ "Raised substantial capital with $382 million in gross proceeds from SPAC merger and PIPE", "Achieved second-lowest redemption rate (39%) for biotech de-SPAC since 2022, indicating strong investor confidence", "Strong cash position of $490 million post-transaction", "Backing from premier institutional investors including Cormorant, Deerfield, Wellington Management", "Three clinical-stage drug candidates targeting major cancer pathways" ]

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) ha completato con successo la combinazione d'impresa con Helix Acquisition Corp. II, debuttando come societ脿 quotata l'11 agosto 2025. L'operazione comprende un investimento PIPE da 261 milioni di dollari e circa 120 milioni di dollari dal trust di Helix, per ricavi lordi complessivi di 382 milioni di dollari.

La societ脿, specializzata in patologie legate alla via RAS, disporr脿 di circa 490 milioni di dollari di cassa dopo la transazione. Il portafoglio comprende tre candidati in fase clinica: BBO-8520 per il cancro polmonare con mutazione KRASG12C, BBO-10203 per vari tipi di tumore, inclusi seno e colon-retto, e BBO-11818 per tumori solidi con mutazioni KRAS.

La fusione SPAC ha registrato un tasso di rimborso particolarmente basso del 39%, il secondo pi霉 basso per una de-SPAC biotech dal 2022, a dimostrazione della forte fiducia degli investitori. Le azioni saranno negoziate sul Nasdaq con il ticker BBOT a partire dal 12 agosto 2025.

  • Raccolti importanti capitali: 382 milioni di dollari di proventi lordi da fusione SPAC e PIPE
  • Secondo tasso di rimborso pi霉 basso (39%) per una de-SPAC biotech dal 2022, segno di alta fiducia degli investitori
  • Posizione di cassa solida di 490 milioni di dollari post-transazione
  • Sostenuta da investitori istituzionali di primo piano tra cui Cormorant, Deerfield e Wellington Management
  • Tre candidati clinici che mirano a vie oncologiche rilevanti

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) complet贸 con 茅xito su combinaci贸n empresarial con Helix Acquisition Corp. II, debutando como compa帽铆a p煤blica el 11 de agosto de 2025. La transacci贸n incluye una inversi贸n PIPE de 261 millones de d贸lares y aproximadamente 120 millones de d贸lares del fideicomiso de Helix, resultando en unos ingresos brutos totales de 382 millones de d贸lares.

La empresa, centrada en malignidades de la v铆a RAS, dispondr谩 de aproximadamente 490 millones de d贸lares en efectivo tras la transacci贸n. La cartera de BBOT incluye tres candidatos en fase cl铆nica: BBO-8520 para c谩ncer de pulm贸n con mutaci贸n KRASG12C, BBO-10203 para varios tipos de c谩ncer, incluidos mama y colorrectal, y BBO-11818 para tumores s贸lidos con mutaciones KRAS.

La fusi贸n SPAC registr贸 una tasa de reembolso notablemente baja del 39%, la segunda m谩s baja para una de-SPAC biotech desde 2022, lo que demuestra la fuerte confianza de los inversores. Cotizar谩 en Nasdaq bajo el ticker BBOT a partir del 12 de agosto de 2025.

  • Capital sustancial recaudado: 382 millones de d贸lares de ingresos brutos por fusi贸n SPAC y PIPE
  • Segunda tasa de reembolso m谩s baja (39%) para una de-SPAC biotech desde 2022, indicando fuerte confianza inversora
  • Posici贸n de efectivo s贸lida de 490 millones de d贸lares tras la transacci贸n
  • Respaldo de inversores institucionales de primer nivel, incluidos Cormorant, Deerfield y Wellington Management
  • Tres candidatos en fase cl铆nica dirigidos a v铆as oncol贸gicas principales

BridgeBio Oncology Therapeutics (NASDAQ:BBOT)電� Helix Acquisition Corp. II鞕鞚� 旮办梾 瓴绊暕鞚� 靹标车鞝侅溂搿� 毵堨箻瓿� 2025雲� 8鞗� 11鞚� 瓿店皽須岇偓搿� 靸侅灔頄堨姷雼堧嫟. 頃措嫻 瓯半灅鞐愲姅 2鞏�6100毵� 雼煬 攴滊鞚� PIPE 韴瀽鞕 項Ν鞀� 韸鸽煬鞀ろ姼鞐愳劀 雮橃槰 鞎� 1鞏�2000毵� 雼煬臧 韽暔霅橃柎 齑� 3鞏�8200毵� 雼煬鞚� 齑� 靾橃澋鞚� 頇曤炒頄堨姷雼堧嫟.

RAS 瓴诫 甏霠� 鞎旍潉 響滌爜鞙茧 頃橂姅 鞚� 須岇偓電� 瓯半灅 頉� 鞎� 4鞏�9000毵� 雼煬鞚� 順勱笀鞚� 氤挫湢頃橁矊 霅╇媹雼�. BBOT鞚� 韺岇澊頂勲澕鞚胳棎電� 靹� 臧歆 鞛勳儊 雼硠 頉勲炒氍检鞚� 韽暔霅╇媹雼�: KRASG12C 氤鞚� 韽愳晹鞖� BBO-8520, 鞙犽癌鞎� 氚� 雽鞛レ晹 霌膘潉 韽暔頃� 雼れ枒頃� 鞎旍鞚� 韮旯冹溂搿� 頃橂姅 BBO-10203, 攴鸽Μ瓿� KRAS 氤鞚� 瓿犿槙鞎� 雽靸侅潣 BBO-11818鞛呺媹雼�.

SPAC 頃╇硲鞚 39%霛茧姅 毵れ毎 雮潃 頇橂Г鞙潉 旮半頄堨溂氅�, 鞚措姅 2022雲� 鞚错泟 氚旍澊鞓ろ厡韥� de-SPAC 欷� 霊� 氩堨Ц搿� 雮潃 靾橃箻搿� 韴瀽鞛愲摛鞚� 臧曧暅 鞁犽毳� 氤挫棳欷嶋媹雼�. 2025雲� 8鞗� 12鞚茧秬韯� 雮橃姢雼レ棎靹� 韹办护 BBOT搿� 瓯半灅毳� 鞁滌瀾頃╇媹雼�.

  • SPAC 頃╇硲 氚� PIPE毳� 韱淀暣 齑� 3鞏�8200毵� 雼煬鞚� 鞛愱笀 臁半嫭
  • 2022雲� 鞚错泟 氚旍澊鞓ろ厡韥� de-SPAC 欷� 霊� 氩堨Ц搿� 雮潃 頇橂Г鞙�(39%) 雼劚 鈥� 臧曧暅 韴瀽鞛� 鞁犽
  • 瓯半灅 頉� 鞎� 4鞏�9000毵� 雼煬鞚� 韮勴儎頃� 順勱笀 氤挫湢
  • Cormorant, Deerfield, Wellington Management 霌� 鞙犾垬 旮瓣磤韴瀽臧霌れ潣 歆鞗�
  • 欤检殧 鞎� 瓴诫毳� 瓴儱頃� 靹� 臧歆 鞛勳儊 雼硠 頉勲炒氍检

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) a finalis茅 avec succ猫s sa combinaison d'entreprise avec Helix Acquisition Corp. II et a fait ses d茅buts en tant que soci茅t茅 cot茅e le 11 ao没t 2025. La transaction comprend un investissement PIPE de 261 millions de dollars et environ 120 millions de dollars provenant du trust de Helix, pour des produits bruts totaux de 382 millions de dollars.

La soci茅t茅, ax茅e sur les maladies li茅es 脿 la voie RAS, disposera d'environ 490 millions de dollars de tr茅sorerie apr猫s la transaction. Le portefeuille de BBOT comprend trois candidats en phase clinique : BBO-8520 pour le cancer du poumon porteur de la mutation KRASG12C, BBO-10203 pour divers types de cancers, notamment du sein et colorectaux, et BBO-11818 pour les tumeurs solides mut茅es KRAS.

La fusion SPAC a enregistr茅 un taux de rachat remarquablement bas de 39%, le deuxi猫me plus bas pour une de-SPAC biotech depuis 2022, d茅montrant une forte confiance des investisseurs. Les actions seront n茅goci茅es sur le Nasdaq sous le ticker BBOT 脿 partir du 12 ao没t 2025.

  • Lev茅e de capitaux significative : 382 millions de dollars de produits bruts issus de la fusion SPAC et du PIPE
  • Deuxi猫me taux de rachat le plus bas (39%) pour une de-SPAC biotech depuis 2022, indiquant une forte confiance des investisseurs
  • Position de tr茅sorerie solide de 490 millions de dollars apr猫s la transaction
  • Soutien d'investisseurs institutionnels de premier plan, notamment Cormorant, Deerfield et Wellington Management
  • Trois candidats en phase clinique ciblant des voies oncologiques majeures

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) hat seinen Unternehmenszusammenschluss mit Helix Acquisition Corp. II erfolgreich abgeschlossen und deb眉tierte am 11. August 2025 als b枚rsennotiertes Unternehmen. Die Transaktion umfasst ein PIPE-Investment in H枚he von 261 Millionen US-Dollar und etwa 120 Millionen US-Dollar aus dem Treuhandverm枚gen von Helix, was zu einem Bruttoerl枚s von insgesamt 382 Millionen US-Dollar 蹿眉丑谤迟.

Das Unternehmen, das sich auf Malignome des RAS-Signalwegs konzentriert, verf眉gt nach der Transaktion 眉ber rund 490 Millionen US-Dollar an liquiden Mitteln. Die Pipeline von BBOT umfasst drei klinische Wirkstoffkandidaten: BBO-8520 f眉r KRASG12C-mutiertes Lungenkarzinom, BBO-10203 f眉r verschiedene Krebsarten einschlie脽lich Brust- und Darmkrebs, und BBO-11818 f眉r KRAS-mutierte solide Tumoren.

Die SPAC-Fusion erzielte eine bemerkenswert niedrige R眉cknahmequote von 39%, die zweitniedrigste f眉r eine Biotech-De-SPAC seit 2022, was auf hohes Anlegervertrauen hinweist. Der Handel beginnt an der Nasdaq unter dem Ticker BBOT am 12. August 2025.

  • Erzielte erhebliche Mittel: 382 Millionen US-Dollar Bruttoerl枚s aus SPAC-Fusion und PIPE
  • Zweitniedrigste R眉cknahmequote (39%) f眉r eine Biotech-De-SPAC seit 2022 鈥� Hinweis auf starkes Anlegervertrauen
  • Starkes Barguthaben von 490 Millionen US-Dollar nach der Transaktion
  • Unterst眉tzung durch f眉hrende institutionelle Investoren wie Cormorant, Deerfield und Wellington Management
  • Drei klinische Wirkstoffkandidaten, die auf zentrale Krebswege abzielen
Positive
  • None.
Negative
  • 39% redemption rate still represents significant capital loss from original SPAC trust
  • All drug candidates still in early Phase 1 clinical trials
  • High cash burn expected with three parallel clinical programs

Insights

BBOT debuts as a public company with $490M cash position and a promising RAS-pathway oncology portfolio following successful SPAC merger.

BBOT's public debut through its merger with Helix Acquisition Corp. II represents a significant liquidity event that positions the company well in the competitive oncology space. The transaction brings $382 million in gross proceeds, combining $120 million from the SPAC trust (with only 39% redemption rate - notably low for biotech de-SPACs) and a substantial $261 million PIPE led by respected biotech investor Cormorant Asset Management.

What makes this transaction particularly notable is the quality of the investor syndicate, which includes premier healthcare-focused funds like Deerfield, Novo Holdings, and Wellington Management. This caliber of investor participation signals strong institutional confidence in BBOT's scientific approach and management team.

The company's total cash position of approximately $490 million provides a substantial runway to advance its three clinical-stage programs targeting RAS-pathway malignancies. Each candidate offers a differentiated approach:

  • BBO-8520: A dual ON/OFF state KRASG12C inhibitor currently in Phase 1 for NSCLC
  • BBO-10203: A novel RAS-笔滨3碍伪 interaction blocker in Phase 1 for breast, colorectal and lung cancers
  • BBO-11818: A panKRAS inhibitor targeting both ON/OFF states with specific potency against G12D and G12V mutations

The scientific rationale behind BBOT's approach addresses key limitations of first-generation KRAS inhibitors, particularly through targeting both ON and OFF states of KRAS and novel mechanisms like their PI3K "Breaker" technology. The company is positioned at the intersection of two major oncogenic pathways (KRAS and PI3K), which together represent the two most commonly mutated oncogenes in human cancer, providing multiple shots on goal in a high-value therapeutic space.

BBOT's clinical pipeline represents a sophisticated approach to targeting the notoriously difficult RAS pathway - long considered the "holy grail" of cancer drug development. Their lead asset BBO-8520 differentiates itself from first-generation KRAS G12C inhibitors like sotorasib and adagrasib by targeting both the ON and OFF conformational states of KRAS. This dual-state inhibition potentially addresses a key resistance mechanism to existing therapies, as the ON state remains active during treatment with first-generation inhibitors.

The company's second program, BBO-10203, employs a particularly innovative mechanism by disrupting the physical interaction between RAS and 笔滨3碍伪. This approach is scientifically elegant as it could avoid the dose-limiting toxicity (hyperglycemia) that has plagued traditional PI3K inhibitors while maintaining efficacy. If successful, this could unlock the therapeutic potential of PI3K inhibition across multiple tumor types.

Their third asset, BBO-11818, targets a broader spectrum of KRAS mutations including G12D and G12V, which represent approximately 43% of all KRAS mutations and have remained largely undruggable until recently. The emphasis on strong binding affinity suggests the company is prioritizing achieving clinically meaningful target engagement.

The scientific credibility of BBOT is further strengthened by the involvement of Dr. Frank McCormick as Board Chairman, a world-renowned expert in RAS biology who previously directed the NCI's RAS Initiative. This scientific pedigree, combined with their mechanistically differentiated approaches to targeting the RAS pathway, positions BBOT as a potentially significant contributor to the rapidly evolving landscape of precision oncology targeting KRAS-driven malignancies.

  • Business combination transaction with Helix Acquisition Corp. II, a special purpose acquisition company sponsored by affiliates of Cormorant Asset Management, completed on August 11, 2025聽
  • Closed concurrent $261 million private investment in public equity (鈥淧IPE鈥�), led by Cormorant
  • Combining approximately $120 million from the former Helix II trust account (reflecting a final redemption rate of approximately 39% which is the second lowest redemption rate for a biotech de-SPAC transaction since 2022) with the PIPE provides approximately $382 million in gross proceeds
  • Net proceeds will be used to accelerate the development of BBOT's pipeline of clinical-stage RAS-targeted oncology drug candidates
  • BBOT to commence trading on the Nasdaq Global Market under the ticker symbol 鈥淏BOT鈥� on August 12, 2025

SOUTH SAN FRANCISCO, Calif. and BOSTON, Aug. 11, 2025 (GLOBE NEWSWIRE) -- BridgeBio Oncology Therapeutics, Inc. (鈥淏BOT鈥�) (Nasdaq: BBOT), a clinical-stage biopharmaceutical company focused on RAS-pathway malignancies, today announced the closing of its previously announced business combination with Helix Acquisition Corp. II (formerly Nasdaq: HLXB) (鈥淗elix鈥�), a special purpose acquisition company (SPAC) sponsored by affiliates of Cormorant Asset Management. The business combination was approved by Helix鈥檚 shareholders on August 4, 2025, and closed on August 11, 2025.

In connection with the closing, Helix changed its name to 鈥淏ridgeBio Oncology Therapeutics, Inc.鈥�, and beginning on August 12, 2025, the shares of common stock of the combined company are expected to begin trading under the new ticker symbol 鈥淏BOT鈥� on the Nasdaq Global Market.

Eli Wallace, PhD, Chief Executive Officer of BBOT said: 鈥淭he successful completion of our business combination, with a relatively low redemption rate of approximately 39%, is a pivotal milestone that underscores the strong conviction of our investors in our vision. With meaningful progress across all three of our pipeline programs, we are entering this next chapter as a public company with significant momentum. We are deeply committed to advancing transformative therapies for patients facing deadly cancers mediated by the RAS pathway, and believe we are well-positioned to deliver meaningful value to patients as we work towards realizing the full potential of KRAS and PI3Ka inhibition.鈥�

Frank McCormick, PhD, Chairman of BBOT Board and David A. Wood Chair of Tumor Biology and Cancer Research at UC San Francisco, added: 鈥淏BOT has made tremendous progress advancing its RAS-targeted therapeutics in the clinic. BBOT's drug candidates聽could provide significantly more patient benefit through optimizing target coverage and through exciting new combination therapies. The completion of the business combination marks another important milestone in BBOT鈥檚 journey. On behalf of BBOT鈥檚 board and management team I would like to welcome our new investors and thank them for their strong support.鈥�

Bihua Chen, Founder and CEO of Cormorant, and CEO of Helix said: 鈥淐ormorant is thrilled to support BBOT through its Helix SPAC platform as the company advances its innovative portfolio of therapeutic agents targeting the two most commonly mutated oncogenes in human cancer, KRAS and PI3K. BBOT鈥檚 next generation KRAS ON inhibitors and its highly novel PI3K 鈥淏reaker鈥�, which disrupts KRAS-driven PI3K activation, hold great promise to transform the treatment landscape for solid tumors driven by these oncogenes. Helix is extremely grateful to work with a stellar syndicate of investors within our trust, such as Adage Capital Management LP, BC Capital Management Ltd., BlackRock Advisors LLC, Laurion Capital Management LP, Millenium Management LLC, Octagon Capital Advisors LP, Oppenheimer, Silver Arc Capital Management LLC, Stempoint Capital LP, and Woodline Partners LP, as well as BBOT鈥檚 outstanding team to deliver these much-needed therapeutic options to patients. We are proud that Helix provides a capital market solution uniquely poised to help companies such as BBOT rapidly and thoughtfully advance multiple parallel clinical programs.鈥�

The combined business is expected to have approximately $490 million in cash, cash equivalents and marketable securities consisting of (a) BBOT鈥檚 cash, cash equivalents and marketable securities of approximately $130 million as of June 30, 2025 and (b) net proceeds of approximately $365 million reflecting (a) proceeds of approximately $120 million from the former Helix Trust account (reflecting a final redemption rate of approximately 39%), (b) proceeds of $261 million from PIPE investors and (c) the deduction of approximately $15 million in offering expenses.

The PIPE was led by Cormorant Asset Management and included premier institutional investors ADAR1 Capital Management, BC Capital, investment funds affiliated with Deerfield Management Company, Enavate Sciences, Eventide Asset Management, Novo Holdings A/S, Octagon Capital, Omega Funds, Paradigm BioCapital Advisors, StemPoint Capital LP, Surveyor Capital (a Citadel company) and Wellington Management.

BBOT will use the net proceeds to accelerate the development of its pipeline of RAS-targeted oncology drug candidates, including:

  • BBO-8520 (NCT06343402): A direct inhibitor of KRASG12C in both the ON and OFF states that is currently being evaluated both as monotherapy and in combination with pembrolizumab in the Phase 1 ONKORAS-101 trial for patients with KRASG12C mutant non-small cell lung cancer. BBO-8520鈥檚 ability to directly inhibit the ON state and block effector binding differentiates it from most other approaches to target KRASG12C tumors.
  • BBO-10203 (NCT06625775): An orally bioavailable small molecule that selectively and specifically blocks the physical interaction between RAS and 笔滨3碍伪, resulting in the inhibition of RAS-driven 笔滨3碍伪-AKT signaling in tumors without the risk of hyperglycemia. This novel mechanism of action makes BBO-10203 agnostic to the mutational status of either RAS or 笔滨3碍伪 providing the potential to treat tumors driven by KRAS or 笔滨3碍伪 mutations, the two most mutated oncogenes in human cancer. BBO-10203 is being evaluated in the Phase 1 BREAKER-101 trial for patients with HER2+ amplified or HR+/HER2- breast cancer, and KRAS mutant colorectal or non-small cell lung cancer.
  • BBO-11818 (NCT06917079): A panKRAS inhibitor targeting mutant KRAS in both the ON and OFF states with strong potency against KRASG12D and KRASG12V mutants. BBO-11818 was designed with strong binding affinity for KRAS and broad selectivity over HRAS and NRAS with the goal of achieving high level of KRAS inhibition in human tumors. The Phase 1 KONQUER-101 trial is currently enrolling patients with KRASG12D, KRASG12V and KRASG12C solid tumors.

BBOT is led by Chief Executive Officer, Eli Wallace, PhD; Chief Scientific Officer, Pedro J. Beltran, PhD; Chief Medical and Development Officer, Yong (Ben) Ben, MD, MBA; and Chief Financial Officer, Uneek Mehra, MBA.

BBOT鈥檚 Board of Directors includes Frank McCormick, PhD; Jake Bauer, MBA, Venture Partner, ARCH Ventures and SR One Capital Management; Michelle Doig, Partner, Head of Corporate Development at Omega Funds; Bihua Chen; Raymond Kelleher, MD, PhD, Managing Director at Cormorant Asset Management; Neil Kumar, PhD, Founder & Chief Executive Officer at BridgeBio Pharma; Praveen Tipirneni, MD, Chief Executive Officer at Morphic Therapeutics Inc., prior to its acquisition by Eli Lilly, and Eli Wallace, PhD.

About BBOT
BBOT is a clinical-stage biopharmaceutical company advancing a next-generation pipeline of novel small molecule therapeutics targeting RAS and 笔滨3碍伪 malignancies. BBOT has the goal of improving outcomes for patients with cancers driven by the two most prevalent oncogenes in human tumors. For more information, visit聽bbotx.com.

Advisors
Leerink Partners, Morgan Stanley, Cantor, and Oppenheimer & Co. acted as placement agents for Helix in connection with the PIPE transaction. Leerink Partners acted as lead capital markets advisor to Helix. Cantor acted as capital markets advisor to Helix. Piper Sandler acted as capital markets advisor to BBOT. Goodwin Procter LLP acted as legal counsel to BBOT. White & Case LLP acted as legal counsel to Helix. Kirkland & Ellis LLP acted as legal counsel to the placement agents.

Forward-Looking Statements
Certain statements included in this press release that are not historical facts are forward-looking statements. Forward-looking statements generally are accompanied by words such as 鈥渂elieve,鈥� 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渆stimate,鈥� 鈥渃ontinue,鈥� 鈥渁nticipate,鈥� 鈥渋ntend,鈥� 鈥渆xpect,鈥� 鈥渟hould,鈥� 鈥渨ould,鈥� 鈥減lan,鈥� 鈥減redict,鈥� 鈥減otential,鈥� 鈥渟eem,鈥� 鈥渟eek,鈥� 鈥渇uture,鈥� 鈥渙utlook鈥� and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on various assumptions, whether or not identified in this press release, and are the current expectations of BBOT鈥檚 management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by an investor as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions. Many actual events and circumstances are beyond the control of BBOT. These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political, and legal conditions; failure to realize the anticipated benefits of the business combination; risks relating to any legal proceedings that may be instituted against BBOT following the closing of the business combination, risks relating to the uncertainty of the projected financial information with respect to BBOT; risks related to the approval of BBOT鈥檚 product candidates and the timing of expected regulatory and business milestones, including the progress of enrollment in clinical trials and availability of data from ongoing and planned clinical trials; the impact of competitive product candidates and commercial products; ability to obtain sufficient supply of materials; global economic and political conditions; the effects of competition on BBOT鈥檚 future business;; and those factors discussed in documents BBOT has filed or will file with the SEC. Additional risks related to BBOT鈥檚 business include, but are not limited to: uncertainty regarding outcomes of BBOT鈥檚 ongoing clinical trials, particularly as they relate to regulatory review and potential approval for its product candidates; risks associated with BBOT鈥檚 efforts to commercialize its product candidates; BBOT鈥檚 ability to maintain its existing agreements with third parties and to negotiate and enter into new definitive agreements on favorable terms, if at all; intellectual property-related claims; BBOT鈥檚 ability to attract and retain qualified personnel; and BBOT鈥檚 ability to source the raw materials for its product candidates.

If any of these risks materialize or BBOT鈥檚 assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that BBOT presently does not know or that BBOT currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect BBOT鈥檚 expectations, plans, or forecasts of future events and views as of the date of this press release and are qualified in their entirety by reference to the cautionary statements herein. BBOT anticipates that subsequent events and developments will cause BBOT鈥檚 assessments to change. These forward-looking statements should not be relied upon as representing BBOT鈥檚 assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Neither BBOT, nor any of its affiliates undertake any obligation to update these forward-looking statements, except as required by law.

BBOT Contacts:

Investor Contact:
Uneek Mehra, Chief Financial Officer
BBOT
[email protected]

Media Contact:
Jake Robison
Inizio Evoke Comms
[email protected]


FAQ

What is BBOT's total cash position after the SPAC merger in 2025?

BBOT expects to have approximately $490 million in cash, cash equivalents and marketable securities post-merger, combining $130 million existing cash, $120 million from Helix's trust, and $261 million from PIPE investors, less expenses.

How much did BBOT raise in their PIPE financing?

BBOT raised $261 million through a PIPE financing led by Cormorant Asset Management and included other premier institutional investors.

What are BBOT's main drug candidates in development?

BBOT has three main clinical candidates: BBO-8520 for KRASG12C mutant lung cancer, BBO-10203 for breast, colorectal and lung cancers, and BBO-11818 for KRAS mutant solid tumors.

When will BBOT stock begin trading on Nasdaq?

BBOT shares will begin trading on the Nasdaq Global Market under ticker 'BBOT' on August 12, 2025.

What was the redemption rate for BBOT's SPAC merger?

The SPAC merger had a 39% redemption rate, which was the second-lowest redemption rate for a biotech de-SPAC transaction since 2022.

How will BBOT use the proceeds from the SPAC merger?

BBOT will use the proceeds to accelerate the development of its pipeline of RAS-targeted oncology drug candidates, which includes three clinical-stage programs.
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