BOLD

Company Overview — What Does Boundless Bio, Inc. Do?

We are a clinical-stage oncology company dedicated to unlocking a new paradigm in cancer therapeutics that addresses the significant unmet need in patients with oncogene amplified tumors by targeting extrachromosomal DNA (ecDNA), a root cause of oncogene amplification observed in more than 14% of cancer patients. Our mission is to be the foremost biopharma company interrogating ecDNA biology to deliver transformative therapies that improve and extend the lives of patients with previously intractable oncogene amplified cancers. ecDNA are large circular units of nuclear DNA that are a primary mechanism of gene amplification and, like oncogene amplifications, are detected only in cancer cells, not in healthy cells. Despite tremendous advancements in treating cancer broadly, patients with oncogene amplified cancers generally derive little benefit from existing therapies, such as molecular targeted therapies or immunotherapies, and have worse survival rates than patients with other types of cancer. Using our proprietary Spyglass platform, we identify targets essential for ecDNA functionality in oncogene amplified cancer cells, then design and develop small molecule drugs called ecDNA-directed therapeutic candidates (ecDTx) to inhibit those targets, with the aim to prevent cancer cells from using ecDNA to express amplified oncogenes and grow, adapt, and become resistant to existing therapies. Instead of directly targeting the proteins produced by amplified oncogenes, which is the approach of traditional targeted therapies, our ecDTx are intended to be synthetic lethal in tumor cells reliant on ecDNA. In the context of drug development, synthetic lethality is a therapeutic approach wherein using a drug to pharmacologically inhibit one target is lethal to cancer cells harboring a specific genetic alteration to a second target, but not lethal to healthy cells that lack the genetic alteration to the second target. Accordingly, our ecDTx are designed to preferentially kill ecDNA-bearing cancer cells, but not healthy cells without ecDNA. They are engineered to disrupt the underlying cellular machinery that enables ecDNA to function properly, such as proteins essential for ecDNA replication, transcription, assembly, repair, and segregation. Our lead ecDTx, BBI-355, is a novel, oral, selective inhibitor of checkpoint kinase 1 (CHK1), which manages ecDNA replication and transcription in cancer cells. BBI-355 demonstrated CHK1 inhibition and tumor regressions in ecDNA-enabled preclinical cancer models and is currently being studied in a first-in-human, Phase 1/2 clinical trial in patients with oncogene amplified cancers. We refer to this trial as POTENTIATE (Precision Oncology Trial Evaluating Novel Therapeutic Interrupting Amplifications Tied to ecDNA). We expect to have preliminary clinical proof of concept safety and antitumor activity data of BBI-355 as a single agent and in combination with targeted therapies from the POTENTIATE trial in the second half of 2024 from approximately 50 to 90 total enrolled patients (single agent cohorts N=~30 to 40, combination cohorts N=~20 to 50). Our second ecDTx, BBI-825, is a novel, oral, selective inhibitor of ribonucleotide reductase (RNR), which is essential for ecDNA assembly and repair in cancer cells. BBI-825 demonstrated RNR inhibition and tumor regressions in amplification-enabled preclinical cancer models. In February 2024, we initiated a first-in-human, Phase 1/2 clinical trial of BBI-825 in patients with resistance gene amplifications. We refer to this trial as STARMAP (Study Treating Acquired Resistance: MAPK Amplifications). We expect to have preliminary clinical proof of concept safety and antitumor activity data of BBI-825 in combination with targeted therapies from the STARMAP trial in the second half of 2025. Our third ecDTx program is directed at a previously undrugged kinesin target essential for ecDNA segregation and inheritance during cell division. We are advancing our third ecDTx program through drug discovery to candidate identification and expect to submit an investigational new drug application (IND) in the first half of 2026. To assist in identifying patients that may benefit from our ecDTx, we have developed an ecDNA diagnostic, which we internally call ECHO (ecDNA Harboring Oncogenes), to detect ecDNA in patient tumor samples. This test analyzes the genomic data output from routine next-generation sequencing (NGS) assays that are commonly used by commercial reference and academic laboratories to profile patient tumor samples. We are working with an in vitro diagnostic company to develop this diagnostic test into a clinical trial assay, which we intend to use in our ongoing Phase 1/2 POTENTIATE clinical trial. The FDA has determined that the ecDNA diagnostic is a non-significant risk device when used in patient selection for the POTENTIATE trial, meaning that we will not be required to obtain FDA approval of an Investigational Device Exemption (IDE) for the use of the ecDNA diagnostic in this trial. Our current pipeline consists of three ecDTx programs directed against three different ecDNA targets, as well as our ecDNA diagnostic. We also continue to identify new ecDNA targets, both novel and previously clinically validated, through our proprietary Spyglass platform. We have built our Spyglass platform to identify specific, druggable targets essential to ecDNA formation and function in cancer cells. To our knowledge, Spyglass is the only platform in the biopharma industry focused on identifying ecDNA-enabled vulnerabilities in cancer. All of our ecDTx have been discovered internally, and we retain global rights for all of our programs. As we are, to our knowledge, the first company formed to develop new cancer medicines directed at ecDNA and the only company to date to bring an ecDTx into the clinic to treat cancer patients, we consider ourselves to be the world’s leading ecDNA company. Our efforts build on the work of our scientific founders and advisors, including Dr. Paul Mischel, who is a globally recognized leader in the ecDNA field, having authored more than 20 peer-reviewed publications on ecDNA and the team leader for the National Institute of Health’s (NIH) and Cancer Research United Kingdom’s (CRUK) Cancer Grand Challenges team devoted to ecDNA and its role in cancer. Dr. Mischel is the Chairman of our Scientific Advisory Board. We leverage this unique expertise to identify new cancer targets that are synthetic lethal in ecDNA-bearing cancer cells and to develop new medicines for patients with oncogene amplified cancers. We were originally founded as a Delaware corporation on April 10, 2018 under the name Pretzel Therapeutics, Inc. On July 8, 2019, we changed our name to Boundless Bio, Inc. Our principal executive offices are located at 9880 Campus Point Drive, Suite 120, San Diego, CA. Boundless Bio, Inc. (BOLD) is classified as a micro-cap stock in the Healthcare sector, specifically within the Pharmaceutical Products industry. The company is led by CEO Zachary D. Hornby, headquartered in SAN DIEGO, California. With a market capitalization of $25M, BOLD is one of the notable companies in the Healthcare sector.

Boundless Bio, Inc. (BOLD) Stock Rating — Reduce (April 2026)

As of April 2026, Boundless Bio, Inc. receives a Reduce rating with a composite score of 29.8/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.BOLD ranks #3,379 out of 4,446 stocks in our coverage universe. Within the Healthcare sector, Boundless Bio, Inc. ranks #515 of 838 stocks, placing it in the lower half of its Healthcare peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

BOLD Stock Price and 52-Week Range

Boundless Bio, Inc. (BOLD) currently trades at $1.18. The stock gained $0.04 (3.9%) in the most recent trading session. The 52-week high for BOLD is $1.78, which means the stock is currently trading -33.4% from its annual peak. The 52-week low is $0.96, putting the stock 23.2% above its annual trough. Recent trading volume was 106K shares, suggesting relatively thin trading activity.

Is BOLD Overvalued or Undervalued? — Valuation Analysis

Boundless Bio, Inc. (BOLD) carries a value factor score of 8/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The price-to-book ratio stands at 0.26x, versus the sector average of 2.75x.

At current multiples, Boundless Bio, Inc. trades at a premium to most Healthcare peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

Boundless Bio, Inc. Profitability — ROE, Margins, and Quality Score

Boundless Bio, Inc. (BOLD) earns a quality factor score of 25/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is -62.7%, compared to the Healthcare sector average of -43.5%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at -39.4% versus the sector average of -33.1%.

Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

BOLD Debt, Balance Sheet, and Financial Health

Boundless Bio, Inc. has a debt-to-equity ratio of 59.0%, compared to the Healthcare sector average of 32.0%. Leverage is within a manageable range for the industry, though investors should monitor debt trends over time. The current ratio is 8.74x, indicating strong short-term liquidity. Total debt on the balance sheet is $0. Cash and equivalents stand at $15M.

BOLD has a beta of 0.74, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for Boundless Bio, Inc. is 54/100, reflecting average volatility within the normal range for its sector.

Boundless Bio, Inc. Revenue and Earnings History — Quarterly Trend

In TTM 2026, Boundless Bio, Inc. reported revenue of $0 and earnings per share (EPS) of $-2.60. Net income for the quarter was $-62M. Operating income came in at $-68M.

In FY 2025, Boundless Bio, Inc. reported revenue of $0 and earnings per share (EPS) of $-2.60. Net income for the quarter was $-58M. Operating income came in at $-64M.

In Q3 2025, Boundless Bio, Inc. reported revenue of $0 and earnings per share (EPS) of $-0.62. Net income for the quarter was $-14M. Operating income came in at $-15M.

In Q2 2025, Boundless Bio, Inc. reported revenue of $0 and earnings per share (EPS) of $-0.70. Net income for the quarter was $-16M. Operating income came in at $-17M.

Over the past 8 quarters, Boundless Bio, Inc. has experienced revenue contraction from $0 to $0. Investors analyzing BOLD stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

BOLD Dividend Yield and Income Analysis

Boundless Bio, Inc. (BOLD) does not currently pay a dividend. This is common among smaller companies in the Pharmaceutical Products industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Healthcare dividend stocks may want to explore other Healthcare stocks or use the stock screener to filter by dividend yield.

BOLD Momentum and Technical Analysis Profile

Boundless Bio, Inc. (BOLD) has a momentum factor score of 27/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 25/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 65/100 reflects moderate short selling activity.

BOLD vs Competitors — Healthcare Sector Ranking and Peer Comparison

Within the Healthcare sector, Boundless Bio, Inc. (BOLD) ranks #515 out of 838 stocks based on the Blank Capital composite score. This places BOLD in the lower half of all Healthcare stocks in our coverage universe. Key competitors and sector peers include ASTRAZENECA PLC (AZN) with a score of 61.4/100, Sol-Gel Technologies Ltd. (SLGL) with a score of 56.6/100, VIEMED HEALTHCARE, INC. (VMD) with a score of 53.4/100, Innoviva, Inc. (INVA) with a score of 52.7/100, and JOHNSON & JOHNSON (JNJ) with a score of 51.7/100.

Comparing BOLD against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full BOLD vs S&P 500 (SPY) comparison to assess how Boundless Bio, Inc. stacks up against the broader market across all factor dimensions.

BOLD Next Earnings Date

No upcoming earnings date has been announced for Boundless Bio, Inc. (BOLD) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy BOLD? — Investment Thesis Summary

The quantitative profile for Boundless Bio, Inc. suggests caution. The quality score of 25/100 flags below-average profitability. The value score of 8/100 indicates premium valuation. Momentum is weak at 27/100, a headwind for near-term performance.

In summary, Boundless Bio, Inc. (BOLD) earns a Reduce rating with a composite score of 29.8/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on BOLD stock.

Related Resources for BOLD Investors

Explore more research and tools: BOLD vs S&P 500 comparison, top Healthcare stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare BOLD head-to-head with peers: BOLD vs AZN, BOLD vs SLGL, BOLD vs VMD.