Boundless Bio: HC Wainwright Maintains Buy Rating, Lowers PT to $4

Boundless Bio: HC Wainwright Maintains Buy Rating, Lowers PT to $4

In a recent update, HC Wainwright & Co. has maintained its buy rating for Boundless Bio (NASDAQ: BOLD) but has lowered its price target to $4.00. This decision comes on the heels of the biotechnology company's second-quarter 2025 results, which were released on August 5, 2025. The update reflects a cautious view of the company's near-term prospects and the potential challenges it may face in its clinical trials and regulatory submissions.

Boundless Bio reported a significant reduction in research and development expenses for the second quarter of 2025, down to $12.2 million from $14.7 million in the same period of 2024 [1]. This decrease, along with a reduction in general and administrative expenses, contributed to a net loss of $15.7 million (GAAP) for the quarter, compared to $17.0 million (GAAP) in the same period of 2024. The company ended the quarter with $127.1 million in cash, cash equivalents, and short-term investments, which management expects to fund operations into the first half of 2028.

The analyst's decision to lower the price target reflects a more conservative outlook on the company's ability to meet its clinical milestones and generate revenue. While the company has made progress in its pipeline programs, including the nomination of BBI-940 as a development candidate and the expansion of the POTENTIATE trial for its BBI-355 program, the success of these programs remains uncertain. The company will need to generate compelling proof-of-concept results and navigate the regulatory submission process for BBI-940 to maintain investor confidence.

Investors should continue to monitor Boundless Bio's clinical trials and regulatory submissions, as well as the company's cash position, to assess its near-term prospects. The company's ability to generate revenue and achieve profitability will depend on its success in these areas.

References:
[1] https://www.nasdaq.com/articles/boundless-bio-bold-q2-rd-drops-17