Boundless Bio, Inc.

Analysis for Ticker: BOLD

Boundless Bio Inc is a biotechnology company that tries to find ways to stop cancer by attacking a specific part of human cells called extrachromosomal DNA. It uses a platform called Spyglass to build these drugs and a tool named ECHO to find the right patients during medical tests. Even though it has been operating since 2018 it has never earned a single cent from selling a product. The financial reality is that this company is an engine designed to burn through 259,7$ million of investor money. This math is a disaster because they have spent years taking money from regular people and giving it to landlords and executives while their medical experiments fail in the human body. It is like building a massive factory that never makes anything but costs 50,0$ million a year to keep the lights on. The timeline of this collapse began in 12/2021 when the company signed a contract to rent 80.168 square feet of space in San Diego from a landlord named ARE-10933 North Torrey Pines LLC. They agreed to pay 71,5$ million in rent over ten years. In 04/2024 they collected 87,7$ million by selling stock to the public. By 08/2024 the stock price had dropped so low that the employees who had options to buy shares were going to make no money. Instead of working harder the board of directors simply changed the rules and lowered the price of 3,48 million options so the insiders could get paid while the public investors suffered from the falling stock price.