Boundless Bio, Inc.
- Open
- 2.47
- Day high
- 2.52
- Day low
- 2.46
- Prev close
- 2.50
- Volume
- 329K
- Mkt cap
- $56M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.6
- P/S
- —
- Yield
- —
- Per share
- —
- ▲Insiders net buying $715K over the last 3 months (6 open-market buys, 0 sales)
- 🏛Institutions mixed (13F)
Boundless Bio, Inc. (BOLD) is a Healthcare company listed on NASDAQ. The stock is up 136% over the past year. Over the trailing 3 months, insiders filed 6 open-market buys and 0 sales (SEC Form 4).
Boundless Bio, Inc. (BOLD) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
BOLD earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 8, 2026 | $-0.51 | $-0.60 | -17.6% | — | — |
| Mar 9, 2026 | $-0.52 | $-0.58 | -11.5% | — | — |
| Nov 5, 2025 | $-0.53 | $-0.62 | -17.0% | — | — |
| May 9, 2025 | $-0.68 | $-0.71 | -4.4% | — | — |
| Mar 27, 2025 | $-0.74 | $-0.74 | +0.0% | — | — |
| Nov 7, 2024 | $-0.76 | $-0.74 | +2.6% | — | — |
| Sep 29, 2023 | — | $-0.59 | — | — | — |
| Nov 7, 2019 | $-1.07 | $-1.00 | +6.5% | — | — |
| Aug 6, 2019 | $-1.04 | $-1.01 | +2.9% | — | — |
| Feb 27, 2019 | $-0.91 | $-0.84 | +7.7% | — | — |
| Nov 6, 2018 | $-0.88 | $-0.97 | -10.2% | — | — |
| Aug 7, 2018 | $-0.78 | $-0.85 | -9.0% | — | — |
BOLD insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 29, 2026 | TANG KEVIN10 percent owner | Buy | 510 | $2.56 |
| Jun 29, 2026 | TANG KEVIN10 percent owner | Buy | 63,985 | $2.47 |
| Jun 29, 2026 | TANG KEVIN10 percent owner | Buy | 777 | $2.48 |
| Jun 29, 2026 | TANG KEVIN10 percent owner | Buy | 145,880 | $2.48 |
| Jun 29, 2026 | TANG KEVIN10 percent owner | Buy | 75,047 | $2.55 |
| Jun 29, 2026 | TANG KEVIN10 percent owner | Buy | 134 | $2.54 |
| Jun 15, 2026 | Lim Jonathan Edirector | Grant | 48,000 | $1.40 |
| Jun 15, 2026 | Whiting Nancydirector | Grant | 32,000 | $1.40 |
| Jun 15, 2026 | Lew Jenniferdirector | Grant | 32,000 | $1.40 |
| Jun 15, 2026 | Christensen Jamesdirector | Grant | 32,000 | $1.40 |
| Jan 26, 2026 | Hornby Zacharydirector, officer: President & CEO | Grant | 600,000 | $1.26 |
| Jan 26, 2026 | Hassig Christianofficer: Chief Scientific Officer | Grant | 230,000 | $1.26 |
| Jan 26, 2026 | Oien Jessicaofficer: See Remarks | Grant | 220,000 | $1.26 |
| Jan 26, 2026 | HINKLE DAVID Aofficer: See Remarks | Grant | 140,000 | $1.26 |
| Jan 26, 2026 | Doebele Robertofficer: Chief Medical Officer | Grant | 230,000 | $1.26 |
Source: BOLD SEC Form 4 filings, latest Jun 29, 2026. For informational purposes only — not investment advice.
See the full BOLD insider & 13F page →Boundless Bio, Inc. company profile
Overview
Boundless Bio, Inc. (NASDAQ:BOLD) is a clinical-stage biotechnology company founded in 2018 and headquartered in San Diego, California. Originally incorporated as Pretzel Therapeutics, Inc., the company changed its name to Boundless Bio in July 2019 and went public in 2016. The company focuses on developing innovative cancer therapeutics specifically designed to treat patients with oncogene amplified tumors by targeting extrachromosomal DNA (ecDNA), a novel approach in oncology that addresses a previously underexplored mechanism of cancer drug resistance.
Business
Boundless Bio operates in the biotechnology sector, specifically focusing on oncology drug development. The company's core mission centers around addressing extrachromosomal DNA (ecDNA), which represents circular pieces of DNA that exist outside the normal chromosomes in cancer cells. These ecDNA elements often carry oncogenes - genes that when amplified or overexpressed can drive cancer growth and contribute to drug resistance. The company's approach is groundbreaking because traditional cancer treatments often fail when tumors develop resistance mechanisms, and ecDNA has been identified as a key driver of this resistance. By targeting the unique vulnerabilities created by ecDNA presence, Boundless Bio aims to overcome treatment resistance that has plagued conventional cancer therapies. The company's pipeline consists of three main programs: 1. BBI-355 represents the lead product candidate, functioning as an oral inhibitor of checkpoint kinase 1 (CHK1). This drug is currently in Phase 1/2 clinical trials targeting patients with oncogene amplified cancers. CHK1 plays a crucial role in DNA damage response, and cancer cells with ecDNA appear particularly vulnerable to CHK1 inhibition. 2. BBI-825 serves as an oral inhibitor of ribonucleotide reductase, also in Phase 1/2 clinical trials. This compound targets cancer patients with resistance gene amplifications. Ribonucleotide reductase is essential for DNA synthesis and repair, making it an attractive target for cancers that rely heavily on DNA replication. 3. ecDTx 3 program focuses on targeting a specific kinesin protein involved in the cellular mechanism responsible for segregating ecDNA during cell division. This represents a more direct approach to disrupting ecDNA function. As a clinical-stage company, Boundless Bio currently generates no revenue from product sales, with all three programs still in early-stage clinical development.
Revenue model
As a pre-revenue clinical-stage biotechnology company, Boundless Bio does not currently generate income from product sales. The company's business model is typical of early-stage biotech firms, relying primarily on equity financing, potential partnerships, and government grants to fund operations and clinical development programs. The company's future revenue model will likely depend on several potential pathways. Product sales represent the primary long-term revenue opportunity, where successful drugs would be sold directly to hospitals, oncology practices, and patients through traditional pharmaceutical distribution channels. Licensing agreements with larger pharmaceutical companies could provide upfront payments, milestone payments, and royalties on future sales. Partnership deals might involve co-development arrangements where partners provide funding in exchange for commercialization rights in specific territories. The company's cash burn rate of approximately $60-65 million annually indicates substantial ongoing expenses related to clinical trials, research and development, regulatory affairs, and general corporate operations. Clinical trial costs represent the largest expense category, as conducting Phase 1/2 trials across multiple programs requires significant investment in patient recruitment, clinical sites, manufacturing, and regulatory compliance. Several factors could significantly impact the company's financial trajectory and margins. Clinical trial outcomes represent the most critical factor, as positive results could attract partnership interest and increase valuation, while negative results could severely impact funding prospects. Regulatory approval timelines affect the speed at which the company can bring products to market and begin generating revenue. Competition from other oncology companies developing similar approaches could impact market share and pricing power. Manufacturing costs for oral medications will ultimately affect gross margins, though these are not yet relevant given the pre-commercial stage. Market adoption rates by oncologists will determine commercial success, as novel mechanisms often require extensive medical education and clinical evidence generation.
Competitive moat
Boundless Bio's competitive moat centers around its pioneering focus on extrachromosomal DNA (ecDNA) as a therapeutic target, representing a relatively nascent area in oncology with limited competition. The company's scientific leadership and intellectual property position in ecDNA biology provide some protection, as this field requires specialized expertise that few organizations possess. However, the company's moat should be considered moderate to weak at this early stage. The biotechnology industry is characterized by rapid scientific advancement and substantial resources from large pharmaceutical companies that can quickly enter promising new areas. While Boundless Bio may have a first-mover advantage in ecDNA-targeted therapies, this advantage could erode as larger companies with greater resources recognize the opportunity and develop competing approaches. The company's intellectual property portfolio around ecDNA targeting mechanisms provides some defensive positioning, but patent protection in biotechnology can be circumvented through alternative approaches to the same biological targets. Additionally, the clinical-stage nature of the programs means that efficacy and safety profiles remain unproven, creating uncertainty about whether the ecDNA approach will deliver meaningful clinical benefits compared to existing treatments. Potential competitive threats include large pharmaceutical companies developing their own ecDNA-targeted programs, academic institutions advancing competing research, and the broader oncology field's continuous innovation in areas like immunotherapy, targeted therapy, and precision medicine. The company's small size and limited resources compared to major pharmaceutical players represent significant competitive disadvantages in terms of clinical development speed, regulatory capabilities, and commercial infrastructure. The strength of Boundless Bio's ultimate moat will largely depend on clinical trial outcomes and the company's ability to establish clear efficacy advantages over existing treatments, build a robust intellectual property portfolio, and potentially secure strategic partnerships with larger pharmaceutical companies.
Risks & safety
Boundless Bio presents significant financial risk typical of early-stage biotechnology companies, with limited margin of safety for investors. • Cash position and burn rate: The company maintains $15.1 million in cash and short-term investments as of Q1 2025, down from $26.6 million in Q4 2024. With quarterly cash burn of approximately $14-17 million, the company has less than one quarter of operating runway at current burn rates. • Debt and solvency: Total liabilities of $54.7 million against total assets of $191.2 million. Current ratio of 22.1 indicates strong short-term liquidity relative to current liabilities, but this primarily reflects the company's asset base rather than operational sustainability. • Valuation metrics: Trading at 0.25x book value and negative earnings multiples due to ongoing losses. Market capitalization of approximately $26 million represents a significant discount to tangible book value. • Operational losses: The company reported $65.4 million in net losses for fiscal 2024, with no revenue generation. Free cash flow burn of $63.4 million annually indicates substantial ongoing capital requirements. • Going concern risk: Given the limited cash runway and pre-revenue status, the company faces immediate financing needs to continue operations and advance clinical programs.
Recent development
Based on the available financial data, Boundless Bio has maintained consistent focus on advancing its three core clinical programs targeting extrachromosomal DNA in cancer treatment. The company has sustained its clinical development activities across BBI-355, BBI-825, and the ecDTx 3 program, with all programs remaining in Phase 1/2 clinical trials. The company's strategic approach has centered on building a comprehensive pipeline around the ecDNA mechanism rather than diversifying into unrelated therapeutic areas. This focused strategy reflects management's conviction in the ecDNA approach and allows for potential synergies across programs in terms of patient identification, biomarker development, and clinical trial design. From a financial perspective, the company has managed its cash resources to support ongoing clinical operations, though the declining cash position from $40.2 million in Q3 2024 to $15.1 million in Q1 2025 indicates accelerating cash utilization. The company's operational expenses have remained relatively stable, suggesting disciplined cost management while maintaining clinical program momentum. The lack of announced partnerships or licensing deals during this period suggests the company continues to retain full ownership of its programs, potentially positioning for higher value capture if clinical results prove successful. However, this also means the company bears full financial responsibility for advancing these programs through expensive clinical development phases.
BOLD company profile · for informational purposes only — not investment advice.
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