BridgeBio Oncology Therapeutics, Inc. 10-Q

Financial Statements (unaudited)

Item 1. Financial Statements. BridgeBio Oncology Therapeutics, Inc. Conde nsed Consolidated Balance Sheets (In thousands, except shares and per share data) June 30, December 31, 2026 2025 (unaudited) Assets Current assets: Cash and cash equivalents $ 54,063 $ 373,687 Short-term marketable securities 171,648 51,773 Receivables from related parties 661 386 Prepaid expenses and other current assets 16,006 6,550 Total current assets 242,378 432,396 Long-term marketable securities 118,419 — Property and equipment, net 878 956 Operating lease right-of-use asset 2,104 2,330 Other non-current assets 12,795 12,567 Restricted cash 132 132 Total assets $ 376,706 $ 448,381 Liabilities, Redeemable Convertible Preferred Stock, and Stockholders’ Equity Current liabilities: Accounts payable $ 6,728 $ 1,374 Accrued compensation and benefits 4,387 5,746 Accrued research and development liabilities 36,841 25,951 Accrued professional services 1,943 674 Payables to related parties 986 534 Operating lease liability, current 554 522 Other accrued liabilities 195 240 Total current liabilities 51,634 35,041 Operating lease liability, noncurrent 1,960 2,244 Total liabilities 53,594 37,285 Commitments and contingencies (Note 7) Redeemable convertible preferred stock, $ 0.0001 par value; no shares authorized, issued and outstanding as of June 30, 2026 or December 31, 2025 — — Stockholders’ equity: Preferred stock, $ 0.0001 par value; 10,000,000 shares authorized as of June 30, 2026 and December 31, 2025; no shares issued or outstanding as of June 30, 2026 or December 31, 2025, respectively — — Common stock, $ 0.0001 par value; 500,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 80,115,002 and 79,991,768 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 8 8 Additional paid-in capital 779,190 767,639 Accumulated deficit ( 455,127 ) ( 356,567 ) Accumulated other comprehensive income (loss) ( 959 ) 16 Total stockholders’ equity 323,112 411,096 Total liabilities, redeemable convertible preferred stock, and stockholders’ equity $ 376,706 $ 448,381 The accompanying notes are an integral part of these condensed consolidated financial statements. 1 Table of Contents BridgeBio Oncology Therapeutics, Inc. Condensed Consolidated Statements of Operations (Unaudited) (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2026 202