BioAtla (BCAB) shares surge 11.06% intraday after $40M SPV deal with GATC Health to advance cancer drug development.

BioAtla Inc. (NASDAQ:BCAB) surged 11.06% intraday after announcing a $40 million special purpose vehicle (SPV) deal with GATC Health to advance its cancer drug development. The partnership, highlighted in a recent news summary, provides critical funding to progress therapeutic candidates, signaling strong investor confidence in the company’s pipeline. While other recent updates included downgrades and regulatory updates, the SPV agreement directly addresses financial and developmental hurdles, aligning with the intraday price increase.