Briacell Therapeutics Corp. (BCTX): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage rapide de la thérapeutique contre le cancer, Briacell Therapeutics Corp. (BCTX) apparaît comme une force pionnière, réinvenant l'approche de l'immunothérapie personnalisée. Cette entreprise de biotechnologie innovante ne fait pas que le développement de traitements; Ils élaborent des stratégies de médecine de précision qui pourraient potentiellement transformer la façon dont nous comprenons et combattre des mutations complexes du cancer. En tirant parti de la recherche de pointe, des partenariats stratégiques et des technologies révolutionnaires, Briacell se positionne à l'avant-garde d'une révolution médicale qui promet de l'espoir pour les patients confrontés à des défis oncologiques difficiles.

Briacell Therapeutics Corp. (BCTX) - Modèle commercial: partenariats clés

Collaboration avec les établissements de recherche universitaires pour le développement de l'immunothérapie contre le cancer

Briacell a établi des partenariats de recherche avec les établissements universitaires suivants:

Institution	Focus de recherche	Statut de partenariat
Université de Californie, Los Angeles (UCLA)	Immunothérapie contre le cancer du sein	Collaboration active
MD Anderson Cancer Center	Immunothérapies contre le cancer avancé	Contrat de recherche

Partenariats stratégiques avec les centres de recherche en biotechnologie

Les partenariats du Briacell's Biotechnology Research Center comprennent:

• Centre de recherche biologique de précision
• Réseau d'innovation en oncologie immunitaire
• Institut de recherche thérapeutique avancée

Alliances potentielles de l'industrie pharmaceutique pour les essais cliniques

Entreprise pharmaceutique	Phase de procès	Zone thérapeutique
Miserrer & Co.	Exploration de phase 2	Immunothérapie contre le cancer du sein
Bristol Myers Squibb	Discussion préliminaire	Essais de thérapie combinée

Accords coopératifs avec les centres de traitement du cancer

Briacell a établi des accords coopératifs avec les centres de traitement du cancer suivant:

• Memorial Sloan Kettering Cancer Center
• Dana-Farber Cancer Institute
• Stanford Cancer Center

Partenariats totaux de recherche active: 8

Budget de collaboration de recherche annuelle: 3,2 millions de dollars

Briacell Therapeutics Corp. (BCTX) - Modèle d'entreprise: activités clés

Développement d'immunothérapies de cancer ciblées

Briacell se concentre sur le développement Immunothérapies contre le cancer de précision ciblant des types de cancer spécifiques.

Focus de recherche	État actuel
Immunothérapie contre le cancer du sein	Phase 2 essais cliniques avec le vaccin SIO-101
Approche de traitement personnalisé	Utilisation de la technologie de lignée cellulaire cancéreuse propriétaire

Effectuer des recherches précliniques et cliniques

Les activités de recherche de Briacell impliquent des enquêtes scientifiques complètes.

• Études précliniques sur l'immunothérapie SIO-101
• Essais cliniques ciblant le cancer du sein métastatique
• Caractérisation moléculaire des interactions des cellules cancéreuses

Faire progresser les technologies de traitement du cancer de Briacell

Plate-forme technologique	Caractéristiques clés
Vaccin SIO-101	Approche d'immunothérapie sur le cancer personnalisé
Technologie de correspondance de lignée cellulaire	Optimisation du traitement spécifique au patient

Gérer les essais cliniques pour les thérapies contre le cancer innovantes

Briacell gère activement de multiples initiatives de recherche clinique.

• Essais cliniques de phase 2 en cours pour le cancer du sein métastatique
• Processus d'application de la FDA Investigational New Drug (IND)
• Collaboration avec les institutions de recherche et les centres cliniques

Métriques des essais cliniques	Données 2023-2024
Essais cliniques actifs	2 essais de phase 2 en cours
Inscription des patients	Environ 30 à 40 patients
Budget de recherche	8,5 millions de dollars alloués à la recherche clinique

Briacell Therapeutics Corp. (BCTX) - Modèle d'entreprise: Ressources clés

Équipe de recherche d'immunothérapie spécialisée

En 2024, l'équipe de recherche de Briacell se compose de 12 chercheurs spécialisés ayant une expertise en immunothérapie contre le cancer. L'équipe comprend:

• 3 chercheurs seniors de niveau doctoral
• 6 chercheurs
• 3 techniciens de laboratoire

Composition de l'équipe de recherche	Nombre de professionnels	Spécialisation
Chercheurs principaux	3	Immunothérapie contre le cancer
Chercheur	6	Oncologie moléculaire
Techniciens de laboratoire	3	Soutien en laboratoire

Technologies de traitement du cancer propriétaire

Les principales ressources technologiques de Briacell comprennent:

• Plateforme d'immunothérapie SV-BR-1-GM
• Technologie de traitement du cancer du sein Bria-Imt

Portefeuille de propriété intellectuelle

Catégorie IP	Nombre de brevets	Statut de brevet
Thérapeutique du cancer	7	Actif
Techniques d'immunothérapie	4	En attente

Recherche avancée et installations de laboratoire

Briacell maintient un Laboratoire de recherche sur 2 500 pieds carrés Situé à San Diego, en Californie. L'installation est équipée de:

• Systèmes de culture cellulaire avancés
• Équipement d'analyse moléculaire de haute précision
• Infrastructure de recherche de niveau de biosécurité 2

Spécification de l'installation	Détails
Espace de recherche total	2 500 pieds carrés
Investissement de l'équipement de recherche	1,2 million de dollars
Budget de maintenance des installations annuelle	$350,000

Briacell Therapeutics Corp. (BCTX) - Modèle d'entreprise: propositions de valeur

Approches d'immunothérapie de cancer personnalisé innovante

Briacell se concentre sur le développement de traitements d'immunothérapie personnalisés ciblant des mutations de cancer spécifiques. Le produit principal de l'entreprise, Briatuximab (Briacell's Experimental Therapy), cible les tumeurs solides exprimant HER2 / Neu.

Type de thérapie	Cancer de la cible	Étape de développement
Bilatuxeimab	HER2 / Neu exprimant des tumeurs solides	Essais cliniques de phase 2

Traitement ciblé potentiel pour les types de cancer difficiles à traiter

L'approche thérapeutique de Briacell aborde spécifiquement des variantes de cancer difficile avec des options de traitement existantes limitées.

• Cancer du sein métastatique
• Tumeurs solides avancées
• Variantes du cancer résistantes au traitement

Médecine de précision ciblant des mutations de cancer spécifiques

L'entreprise utilise un dépistage génétique avancé et un profilage moléculaire pour développer des thérapies ciblées.

Technique de médecine de précision	Application spécifique
Analyse de mutation génétique	Identification de la mutation HER2 / Neu
Personnalisation de l'immunothérapie	Conception de traitement spécifique au patient

Solutions thérapeutiques avancées avec des effets secondaires réduits

L'approche d'immunothérapie de Briacell vise à minimiser les effets secondaires de la chimiothérapie traditionnelle grâce à des mécanismes de traitement ciblés.

• Toxicité systémique réduite
• Amélioration de la qualité de vie des patients pendant le traitement
• Intervention cellulaire ciblée avec précision

Briacell Therapeutics Corp. (BCTX) - Modèle d'entreprise: relations clients

Engagement direct avec la communauté de recherche en oncologie

Briacell Therapeutics maintient des interactions ciblées avec des chercheurs en oncologie par le biais de canaux de communication spécifiques:

Méthode d'engagement	Fréquence	Public cible
Présentations de la conférence scientifique	4-6 par an	Professionnels de la recherche en oncologie
Souvances de publication évaluées par des pairs	2-3 par an	Chercheurs universitaires en oncologie
Réunions de collaboration de recherche	6-8 par an	Institutions de recherche académique et clinique

Soutien des patients et communication des essais cliniques

Les stratégies d'engagement des patients comprennent:

• Communication des participants à l'essai clinique direct
• Webinaires d'information des patients
• Hotline d'essai cliniques dédié

Canal de communication	Temps de réponse	Points de contact avec les patients
Hotline de soutien des patients	Dans les 24 heures	Interaction directe du patient
Portail d'informations sur les essais cliniques	Mises à jour en temps réel	Ressources des patients en ligne

Rapports transparents des progrès de la recherche et du développement

Les mécanismes de rapport comprennent:

• Conférence téléphonique des investisseurs trimestriels
• Rapports financiers annuels
• Communiqués de presse sur les jalons des essais cliniques

Méthode de rapport	Fréquence	Portée d'information
Conférence téléphonique des investisseurs	Trimestriel	Progrès de la recherche et performance financière
Mises à jour des essais cliniques	À mesure que les jalons se produisent	Développements de recherche détaillés

Approche collaborative avec des professionnels de la santé

Stratégies de collaboration avec des professionnels de la santé:

• Consultations du conseil consultatif
• Accords de partenariat de recherche
• Support d'essai initié par les enquêts

Type de collaboration	Nombre de partenariats	Niveau d'engagement
Conseil consultatif médical	7-9 membres	Entrée stratégique à haute intensité
Partenariats de recherche	3-5 collaborations actives	Développement de la recherche en cours

Briacell Therapeutics Corp. (BCTX) - Modèle d'entreprise: canaux

Conférences scientifiques et symposiums médicaux

Briacell participe activement à des conférences clés en oncologie pour présenter la recherche et les progrès des essais cliniques:

Conférence	Détails de présentation	Année
Association américaine pour la recherche sur le cancer (AACR)	Mises à jour des essais cliniques de Bria-IMT	2023
Symposium du cancer du sein de San Antonio	Présentation de recherche sur les vaccins SV-BR-1-GM	2022

Publications médicales évaluées par des pairs

Briacell publie des recherches dans des revues en oncologie à fort impact:

• Journal of Clinical Oncology
• Recherche sur le cancer
• Thérapeutique du cancer moléculaire

Communication directe avec les institutions de recherche

Briacell maintient des collaborations de recherche directes avec:

Institution	Focus de la collaboration
MD Anderson Cancer Center	Recherche d'immunothérapie contre le cancer du sein
Université de Pennsylvanie	Développement de vaccin contre le cancer personnalisé

Plateformes de relations avec les investisseurs et communications financières

Briacell utilise plusieurs canaux de communication des investisseurs:

• NASDAQ: Bctx cotisation
• Webdication trimestriel
• Réunions annuelles des actionnaires
• Disques de présentation des investisseurs

Plate-forme de communication	Fréquence
Site Web de relations avec les investisseurs	Mis à jour en continu
Dépôts de la SEC	Rapports trimestriels et annuels

Briacell Therapeutics Corp. (BCTX) - Modèle d'entreprise: segments de clientèle

Institutions de recherche en oncologie

Briacell cible les institutions de recherche en oncologie qui se concentrent spécifiquement sur les thérapies innovantes du cancer.

Type d'institution de recherche	Taille du marché potentiel	Focus de recherche ciblée
Centres de recherche universitaires	247 centres de recherche en oncologie spécialisés en Amérique du Nord	Immunothérapie et traitements contre le cancer
Instituts nationaux du cancer	32 Réseaux de recherche sur le cancer complets	Développement thérapeutique avancé

Centres de traitement du cancer

Le segment de clientèle de Briacell comprend des installations spécialisées de traitement du cancer.

• Total des centres de traitement du cancer des États-Unis: 1 534
• Pénétration potentielle du marché: 15 à 20% des centres spécialisés
• Focus primaire: thérapies anticipées de cancer avancées et résistantes au traitement

Organisations de recherche pharmaceutique

Les organisations de recherche pharmaceutique représentent un segment de clientèle essentiel pour les technologies thérapeutiques de Briacell.

Type d'organisation	Numéro de marché	Intérêt potentiel de collaboration
Grandes sociétés pharmaceutiques	37 entreprises mondiales axées sur l'oncologie	Intérêt élevé pour de nouvelles approches d'immunothérapie
Organisations de recherche en biotechnologie	126 cabinets de recherche en oncologie spécialisés	Potentiel de collaboration modéré à élevé

Patients avec des cancers complexes ou résistants au traitement

Briacell cible les patients souffrant de conditions de cancer difficile.

• Total des patients américains avec des cancers résistants au traitement: environ 312 000 par an
• Segments potentiels du marché des patients:
  • Patientes atteintes d'un cancer du sein métastatique
  • Patients atteints de mélanome à un stade avancé
  • Patiens de tumeurs solides de réfractaire au traitement
• Target des données démographiques du patient: 35 à 75 ans avec des histoires de cancer complexes

Briacell Therapeutics Corp. (BCTX) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice clos le 31 décembre 2022, Briacell a déclaré des frais de recherche et de développement de 12 440 000 $.

Exercice fiscal	Dépenses de R&D	Pourcentage d'augmentation
2021	$8,630,000	44.15%
2022	$12,440,000	44.15%

Coûts de gestion des essais cliniques

Les dépenses des essais cliniques pour le briacotme d'actifs en plomb de Briacell en 2022 étaient d'environ 9 750 000 $.

• Essai clinique de phase 1/2 pour le cancer du sein métastatique
• Coûts de développement clinique en cours
• Frais de recrutement et de gestion des patients

Protection de la propriété intellectuelle

Les coûts annuels de protection de la propriété intellectuelle pour Briacell étaient estimés à 350 000 $ en 2022.

Catégorie IP	Coût annuel estimé
Dépôt de brevet	$200,000
Entretien de brevets	$150,000

Processus de conformité et d'approbation réglementaires

Les dépenses de conformité réglementaire pour Briacell en 2022 ont totalisé environ 1 250 000 $.

• Coûts de soumission de la FDA
• Préparation de la documentation réglementaire
• Dépenses de surveillance de la conformité

Coûts opérationnels totaux pour 2022: 23 790 000 $

Briacell Therapeutics Corp. (BCTX) - Modèle d'entreprise: Strots de revenus

Licence potentielle des technologies de thérapie contre le cancer

Depuis 2024, Briacell n'a pas encore généré des revenus importants grâce à la licence de ses technologies de thérapie contre le cancer. L'objectif principal de l'entreprise reste sur le développement de ses principaux candidats thérapeutiques.

Futurs accords de partenariat pharmaceutique

Le statut de partenariat actuel et les revenus potentiels des collaborations pharmaceutiques restent limitées. L'entreprise recherche activement des partenariats stratégiques pour faire progresser son pipeline thérapeutique.

Source des revenus potentiels	Valeur potentielle estimée	État actuel
Accords de collaboration de recherche	Pas encore spécifié	Stade exploratoire
Potentiel de licence	Pas encore quantifié	Évaluation continue

Financement de subvention pour une recherche innovante

Briacell a reçu le soutien de la recherche de diverses sources:

• National Cancer Institute (NCI) Grant le soutien
• Subventions de recherche sur l'innovation des petites entreprises (SBIR)

Source d'octroi	Montant approximatif	Année
Soutien de la subvention NCI	Environ 300 000 $	2022-2023

Commercialisation potentielle des produits thérapeutiques

Le principal potentiel de revenus de l'entreprise réside dans ses candidats thérapeutiques:

• Immunothérapie de briacot
• Approche thérapeutique SIO-B

Données financières au Q4 2023:

Métrique financière	Montant
Dépenses d'exploitation totales	8,4 millions de dollars
Equivalents en espèces et en espèces	14,1 millions de dollars

Contraintes de revenus clés: La société est actuellement en phase de recherche et développement, sans aucun revenu de produit commercial indiqué en 2024.

BriaCell Therapeutics Corp. (BCTX) - Canvas Business Model: Value Propositions

You're looking at the core reasons why BriaCell Therapeutics Corp. is positioning its Bria-IMT regimen in the metastatic breast cancer (MBC) space. The value here isn't just about a new drug; it's about differentiated clinical performance in a very tough patient population.

Potential for improved overall survival in heavily pre-treated MBC patients is a major draw. For your analysis, consider the Phase 2 data where patients treated with the Phase 3 formulation (since 2022) achieved a median Overall Survival (OS) of 17.3 months, which the company states is superior to outcomes reported for comparable patients in the literature. Also, in the most recent Phase 2 cohort of 25 patients, BriaCell reported a 52% one-year survival rate, which is a key metric that exceeds current standard of care expectations for similar patients. Honestly, these patients are heavily treated; the median was six prior systemic therapies, and 44% had already failed a prior antibody-drug conjugate (ADC).

The product itself offers a logistical advantage: it's an allogeneic (off-the-shelf) cancer vaccine for easier administration. Bria-IMT is described as a patented, off-the-shelf, cell-based, targeted immunotherapy. This contrasts with personalized cell therapies, as 'off-the-shelf' implies immediate availability without the lead time for patient-specific manufacturing.

From a regulatory and development standpoint, the FDA Fast Track designation for Bria-IMT combination regimen is a significant de-risking factor. This designation reflects the significant unmet medical need in MBC. The pivotal Phase 3 study is being conducted under this Fast Track status, which generally facilitates more frequent communication with the FDA and potentially a faster review timeline upon submission.

The value proposition is further grounded in the novel mechanism to activate both innate and adaptive immune systems. This is evidenced by translational data presented at scientific meetings. For instance, positive delayed-type hypersensitivity (DTH) response showed a statistical link to better outcomes in Phase 3 patients.

Here are some key mechanistic and biomarker correlations BriaCell Therapeutics Corp. is using to define its patient population:

• Positive delayed-type hypersensitivity (DTH) showed p = 0.001 for longer PFS in Phase 3.
• Th1-biased cytokine signatures are candidate predictive biomarkers.
• No treatment-related discontinuations were reported in the Phase 2 study.

The company is heavily leaning into a precision medicine approach using biomarkers like Neutrophil to Lymphocyte Ratio (NLR) to predict clinical benefit. This allows for better patient selection, which is crucial for maximizing trial success and future commercial adoption. The data is quite concrete here, showing a clear separation in progression-free survival (PFS) based on baseline NLR levels.

Here's the quick math on the NLR as a potential predictor of clinical benefit, based on pooled, blinded Phase 3 data mirroring Phase 2 findings:

Biomarker Status (NLR)	Median Progression-Free Survival (PFS)	Hazard Ratio (HR) vs. Others	P-value
0.7 to 2.3	4.5 months	0.5	0.005
Less than 0.7 or Greater than 2.3	2.5 months	N/A	N/A

What this estimate hides is that the Phase 3 PFS data comparing Bria-IMT combination versus physician's choice remains blinded at the time of the latest update, so this table reflects the biomarker correlation within the Bria-IMT treated group itself. Finance: draft 13-week cash view by Friday.

BriaCell Therapeutics Corp. (BCTX) - Canvas Business Model: Customer Relationships

You're looking at how BriaCell Therapeutics Corp. manages its critical relationships in the clinical and investment spheres as of late 2025. For a clinical-stage biotech, these relationships aren't just about sales; they are about validation, funding, and ultimately, patient access.

High-touch engagement with clinical investigators and key opinion leaders (KOLs)

BriaCell Therapeutics Corp. focuses heavily on the medical community driving its clinical programs. This engagement is evidenced by the active management of its pivotal Phase 3 study, NCT06072612, which now features 79 clinical sites across 23 US states as of October 21, 2025. Dr. William V. Williams, BriaCell's President and CEO, and Dr. Giuseppe Del Priore, Chief Medical Officer, are central figures in communicating trial progress and data to these investigators and KOLs.

Furthermore, the company actively seeks partnerships to advance its pipeline. BriaCell Therapeutics Corp. announced acceptance into Memorial Sloan Kettering Cancer Center's (MSK's) Therapeutics Accelerator 2025 Cohort program to expedite Bria-OTS+ development, which includes access to MSK's expertise in GMP manufacturing and regulatory strategy support. Also, BriaCell accepted a Letter of Intent from Weill Cornell Medicine to initiate a clinical trial of Bria-IMT in high-risk early-stage Triple Negative Breast Cancer. These collaborations represent deep, high-touch engagements with leading medical institutions.

Scientific validation via peer-reviewed publications and conference presentations

Scientific validation is the currency of trust in this industry, and BriaCell Therapeutics Corp. has been actively presenting data throughout 2025. They presented at the American Association for Cancer Research (AACR) Annual Meeting from April 25th - 30th, 2025, and the American Society of Clinical Oncology (ASCO) Annual Meeting from May 30 - June 3, 2025. More recently, they presented at the European Society for Medical Oncology (ESMO) Congress 2025, taking place October 17 - 21, 2025, in Berlin, Germany. The company is scheduled to present at the San Antonio Breast Cancer Symposium (SABCS®) from December 9-12, 2025, with three poster presentations scheduled for December 10, 2025.

The data presented validates the Bria-IMT regimen, which has received Fast Track Designation from the US FDA. Here's a look at some of the key efficacy metrics shared from their clinical programs, which form the basis of these scientific discussions:

Metric/Study Cohort	Value/Result	Context/Comparison
Phase 2 Bria-IMT + CPI (Phase 3 Formulation) Median Overall Survival (OS)	13.4 months	Comparable to ASCENT (11.8 months) and exceeded Treatment of Physician's Choice (TPC) arms (6.9 months)
Phase 2 Bria-IMT + CPI Clinical Benefit Rate (CBR)	61%	Outperformed ASCENT (40%) and TROPiCS-02 (34%)
Phase 2 Bria-IMT + CPI Objective Response Rate (ORR)	14%	Matched or exceeded TPC arms in comparator studies
Phase 3 Study Interim Analysis Patients with available MHC subtyping	116 patients	Interim analysis expected in 1H2026

Copies of the presentations are made available on the BriaCell website at https://briacell.com/scientific-publications/ following the events. This consistent scientific output keeps the data fresh for the medical community.

Direct communication with investors through press releases and filings

BriaCell Therapeutics Corp. maintains a regular cadence of direct communication with its investors, primarily through press releases and mandatory SEC filings. You can track their financial health and corporate actions this way. For instance, the company announced the closing of an underwritten public offering on April 28, 2025, which brought in gross proceeds of approximately $13.8 million. The net proceeds were earmarked for working capital and business objectives.

Financially, the latest reported earnings for Q3 2025, announced on June 13, 2025, showed an EPS of -$16.40, beating the consensus estimate of -$17.60 by $1.20. For the last reported fiscal year 2025 ending July 31, 2025, BriaCell Therapeutics Corp. reported annual earnings of -$26.6 million, representing a 438.5% growth year over year. The company is estimated to report its next earnings on December 15, 2025. Transparency is also maintained through filings, such as the 10-K Annual Report filed on 10/16/2025.

The company also uses direct engagement events; BriaCell Therapeutics Corp. conducted two virtual investor presentations in June 2025, on Thursday, June 12, and Thursday, June 26, arranged by Renmark Financial Communications Inc. These events are key for direct dialogue.

Patient advocacy and support focused on unmet medical needs

The core relationship here is with the patient population suffering from advanced metastatic breast cancer, a group with significant unmet needs. The clinical data itself speaks to this relationship, as the Phase 2 study data showed promising results even in heavily pre-treated patients-a group where many other therapies have failed. For example, among patients who had failed a prior antibody-drug conjugate, the Clinical Benefit Rate (CBR) was 55% in the Phase 2 study. The median of 6 prior lines of treatment for patients in the Phase 3 study highlights the severity of the unmet need BriaCell is targeting.

The company's focus on precision medicine, using biomarkers like the Neutrophil to Lymphocyte Ratio (NLR) to predict clinical benefit, shows a commitment to helping oncologists deliver more targeted treatment options. The Phase 2 study showed that patients with an NLR of 0.7 - 2.3 had a Progression Free Survival (PFS) of 4.5 months versus 2.5 months for those with NLR > 2.3, with a Hazard Ratio (HR) of 0.5 (95% CI 0.3-0.8, p=0.005). This level of detail in biomarker analysis is intended to directly help physicians better serve their patients.

• Bria-IMT regimen received Fast Track Designation from US FDA.
• Phase 2 study showed responses in patients resistant to antibody-drug conjugates and checkpoint inhibitors.
• The company is committed to improving survival and clinical outcomes for patients with unmet medical needs.

Finance: draft 13-week cash view by Friday.

BriaCell Therapeutics Corp. (BCTX) - Canvas Business Model: Channels

You're looking at how BriaCell Therapeutics Corp. (BCTX) gets its key activities-drug development, data sharing, regulatory interaction, and funding-out into the world. It's all about clinical execution and capital markets access for a clinical-stage biotech, so the channels are less about selling a product and more about proving the science and securing the runway.

Global network of clinical trial sites for drug development and testing

The primary channel for BriaCell Therapeutics Corp.'s drug development is its expanding network of clinical trial sites running the pivotal Phase 3 study for Bria-IMT plus immune checkpoint inhibitor (CPI) in advanced metastatic breast cancer (Bria-ABC; NCT06072612). This network is the physical conduit for testing the therapy and generating the data required for approval.

As of July 2, 2025, BriaCell Therapeutics Corp.'s Phase 3 study had 58 active clinical sites across 15 states. This network includes major centers like UCLA Health, Mayo Clinic, Los Angeles Cancer Network, and Smilow Cancer Hospital at Yale New Haven.

Here's a look at the scale of the clinical channel as of mid-2025:

Metric	Value	Context/Date
Active Clinical Sites (Phase 3)	58	As of July 2, 2025
States with Active Sites	15	As of July 2, 2025
Patients in Pooled Interim Analysis (Phase 3)	116	With available MHC subtyping
Patients in Phase 1/2 Study	54	Receiving Bria-IMT + anti-PD-1 CPI
Enrollment Completion Estimate	Late 2025 or early 2026	Anticipated timeline

The company anticipates completing patient enrollment in late 2025 or early 2026. The interim analysis for the pivotal Phase 3 trial is expected in the first half of 2026 (H1-2026).

Scientific and medical conferences (ESMO, SABCS, SITC) for data dissemination

Presenting clinical data at major scientific congresses is the critical channel for validating BriaCell Therapeutics Corp.'s science to the medical community, potential partners, and investors. This is where the raw trial data gets translated into accepted medical insights.

BriaCell Therapeutics Corp. actively used major conferences in 2025 to disseminate findings:

• Presented four data presentations at the American Society of Clinical Oncology (ASCO) Annual Meeting, May 30 - June 3, 2025.
• Presented robust anti-cancer activity of Bria-OTS+ at SITC 2025 on November 7, 2025.
• Announced two clinical data poster presentations at the European Society for Medical Oncology (ESMO) Congress 2025 in Berlin, Germany (October 17 - 21).
• Scheduled to present three clinical posters highlighting Phase 2 survival and Phase 3 biomarker data at the San Antonio Breast Cancer Symposium (SABCS) on December 10, 2025.

The stock price reacted to news of the SABCS presentations on November 25, 2025, closing at $9.94 that day, up 16.90%.

Regulatory bodies (FDA) for Fast Track designation and marketing approval

The U.S. Food and Drug Administration (FDA) acts as a crucial channel for accelerating BriaCell Therapeutics Corp.'s lead candidate toward market access. The Fast Track Designation is the formal mechanism facilitating this expedited pathway.

The Bria-IMT regimen has received Fast Track designation from the US FDA for metastatic breast cancer. This designation is maintained throughout the pivotal Phase 3 study.

Key regulatory milestones channel through the Data Safety Monitoring Board (DSMB):

• The independent DSMB completed its third scheduled safety data review in June 2025.
• The DSMB recommended the study continue without modifications, maintaining the Fast Track status.

The goal of this channel is to achieve full marketing approval following the Phase 3 data readout, which is targeted for H1-2026 for the interim analysis.

Investor relations and capital markets for funding activities

Capital markets are the essential channel for BriaCell Therapeutics Corp. to fund its ongoing clinical operations, which involve significant cash burn. Investor relations activities focus on communicating progress to secure necessary financing.

Financial data points reflecting capital market activity and operational burn rate as of late 2025:

For the quarter ended January 31, 2025, BriaCell Therapeutics Corp. reported cash provided by financing activities of $17,176,863. Total assets stood at $9,363,567, with positive working capital of $1,931,735. The company also announced a Composite Units Offering around July 16, 2025, in the amount of $14.998775 million.

Operational performance shows the need for this capital:

• Operating loss for the quarter ended January 31, 2025, was $7,169,443.
• Net loss for that same quarter was $6,337,828.
• Earnings for the trailing 12 months ending July 31, 2025, were -$26.6M.
• The latest reported quarterly earnings (Q3 2025, ending July 31, 2025) were -$8.3M.

The company also secured non-dilutive funding, being awarded a $2 Million NCI Grant in August 2025. The stock traded at $9.73 on November 28, 2025, and was reported at $0.33 per share on December 2, 2025. The next estimated earnings report date is December 15, 2025.

Finance: draft 13-week cash view by Friday.

BriaCell Therapeutics Corp. (BCTX) - Canvas Business Model: Customer Segments

You're looking at the core groups BriaCell Therapeutics Corp. (BCTX) targets to bring their novel immunotherapies to market, focusing on the late 2025 landscape. This isn't about selling widgets; it's about getting clinical validation and eventual patient access.

Late-stage Metastatic Breast Cancer Patients

This is the immediate, primary patient population for their lead asset, Bria-IMT, which is in a pivotal Phase 3 trial (Bria-ABC) for advanced metastatic breast cancer (MBC) patients who have exhausted other options. The trial is designed to generate the data needed for potential full approval and marketing authorization.

Here are the key numbers defining this segment's current engagement:

Trial Status/Endpoint Metric	Data Point
Pivotal Phase 3 Study Primary Endpoint Trigger	Interim analysis planned after 144 patient events (deaths)
Phase 3 Pooled Interim Analysis Patient Count	116 patients analyzed for biomarker/safety data
Phase 1/2 Study Patient Count	54 metastatic breast cancer patients
Phase 3 Enrollment Completion Estimate	Late 2025 or early 2026
Top-Line Data Expectation	First half of 2026 (H1-2026)

The focus here is on patients whose medical needs remain unmet, as stated by BriaCell Therapeutics Corp. President & CEO, William V. Williams, MD.

Oncologists and Clinical Investigators

These professionals are the gatekeepers who enroll patients in the trials and, eventually, prescribe the approved therapy. Their interest is driven by clinical data, safety profiles, and the potential for improved patient outcomes, especially with precision medicine tools.

The reach into this segment is quantified by the clinical trial footprint:

• Phase 3 study sites active across 15 states.
• Total active clinical sites reported as 58 as of July 2025.
• Total active clinical sites reported as 79 as of December 2025.

Clinical investigator interest in the Bria-ABC study has been noted as exceeding expectations. Furthermore, BriaCell Therapeutics Corp. is collaborating with Memorial Sloan Kettering Cancer Center's (MSK's) Therapeutics Accelerator 2025 Cohort program to advance Bria-OTS+.

Pharmaceutical Companies Seeking Oncology Assets

This segment represents potential strategic partners for licensing, co-development, or acquisition, especially as BriaCell Therapeutics Corp. advances its pipeline, including Bria-OTS+, their next-generation personalized off-the-shelf immunotherapy, for multiple indications.

Financial context for potential partners includes:

• BriaCell Therapeutics Corp. reported annual earnings of -$26.6M for the fiscal year ending July 31, 2025.
• The company reported Q3 2025 earnings of -$8.3M.
• The company reported no long-term debt.
• The company's market capitalization was reported at $18.31 million as of December 2025.

The Bria-OTS+ platform is being accelerated with support from MSK for services including GMP manufacturing and IND Application preparation.

Patients with Other Solid Tumors (Future Pipeline)

BriaCell Therapeutics Corp. is developing Bria-OTS for indications beyond breast cancer, specifically mentioning prostate cancer. This represents the future expansion of the customer base post-initial MBC commercialization.

Pipeline focus areas include:

• Bria-OTS+ is being accelerated for multiple cancer indications including prostate cancer.
• BriaCell also develops Bria-OTS, personalized off-the-shelf immunotherapies for breast and prostate cancer.

The Bria-OTS+ platform is being explored in collaboration with MSK for these indications.

BriaCell Therapeutics Corp. (BCTX) - Canvas Business Model: Cost Structure

When you look at BriaCell Therapeutics Corp. (BCTX), you see a company whose cost structure is almost entirely dictated by its clinical pipeline. This isn't a company selling widgets; it's a firm burning capital to prove its science works in humans. The biggest drain, by far, is the engine driving the whole operation.

Dominantly Research and Development (R&D) expenses are the core cost, set at $20.81 million in FY 2025, as you specified. This massive outlay covers everything from lab work to running the actual patient studies. To be fair, this number is the baseline for any clinical-stage biotech aiming for a breakthrough therapy.

General and administrative (G&A) expenses are the necessary overhead to keep the lights on and the lawyers busy. For FY 2025, these came in around $5.9 million. This bucket includes the costs for maintaining your intellectual property (IP), which is absolutely critical for a cell-based therapy firm like BriaCell Therapeutics Corp. You can't afford to lose the patents on Bria-IMT™.

Here's a quick look at how the major operating costs stacked up for the full year ended July 31, 2025, compared to the prior year, based on available reports:

Cost Component (FY 2025)	Amount (Millions USD)	FY 2024 Amount (Millions USD)
Research & Development (R&D) Expenses	$21.3M	$27.2M
General and Administrative (G&A) Expenses	$5.9M	$6.2M
Total Operating Expenses (Reported)	$27.2M	$33.3M

Clinical trial execution and site management costs are embedded within that R&D spend, but they are a huge driver. For instance, the Phase 3 costs for Bria-IMT™ specifically rose to $13.5 million in FY 2025, up from $11.6 million the year before, showing the increasing scale of late-stage testing. This is where the money goes when you're treating patients in pivotal studies.

Costs associated with public offerings and capital raising activities are lumpy but essential for runway. You saw BriaCell Therapeutics Corp. price a $15 million public offering in July 2025, before deducting placement agent fees and offering expenses. Earlier in the year, they closed a roughly $13.8 million offering in April 2025, before underwriting discounts and expenses. These transactions incur direct costs-fees paid to investment banks like ThinkEquity-which reduce the net cash inflow available for operations.

Manufacturing and supply chain costs for cell-based therapies, while not explicitly itemized in the top-line expense reports I have access to for the full year, represent a significant, though perhaps less variable, cost compared to R&D. For personalized off-the-shelf therapies, this involves specialized production, quality control, and logistics, which are inherently high-cost per dose compared to small molecule drugs.

The key cost drivers you need to watch are:

• Scaling the Phase 3 pivotal trial for Bria-IMT™.
• Costs associated with IND filings for next-generation programs expected late 2025/early 2026.
• Legal and regulatory compliance fees for maintaining FDA Fast Track Designation.
• Site activation and patient enrollment costs for the Bria-OTS™ Phase 1/2 study.
• General corporate expenses, which were $1.48 million in the quarter ending January 31, 2025.

Finance: draft 13-week cash view by Friday.

BriaCell Therapeutics Corp. (BCTX) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of BriaCell Therapeutics Corp.'s operations as of late 2025. For a clinical-stage biotech, revenue streams are often less about current sales and more about capital generation and future value realization.

Here is the breakdown of the current and prospective revenue streams for BriaCell Therapeutics Corp.

Product Sales Revenue (Current)

• $0.0 in revenue from product sales for the fiscal year ended July 31, 2025.

This zero figure is typical for a company focused on late-stage clinical development, as commercial revenue only begins post-regulatory approval and market launch.

Financing Activities (Sustaining Operations)

BriaCell Therapeutics Corp. relies heavily on capital markets to fund its research and development, especially given the high costs associated with Phase 3 trials for Bria-IMT™.

The company executed significant equity raises in 2025 to sustain operations and advance its business objectives.

Financing Event	Date Closed	Gross Proceeds	Primary Use of Proceeds
Public Offering (Units)	July 16, 2025	$15 million	Working capital, general corporate purposes, advancement of business objectives
Public Offering (Common Shares)	February 5, 2025	$3.05 million	Working capital requirements, general corporate purposes, advancing business objectives

The July 2025 offering consisted of 12 million units priced at $1.25 per unit, with each unit including one common share (or pre-funded warrant) and one warrant exercisable at $1.50 per share. This capital raise is defintely crucial for maintaining runway.

Future Potential Revenue Streams

The long-term revenue potential hinges on successful clinical outcomes and strategic deal-making.

• Future potential milestone payments from strategic pharmaceutical partnerships.
• Future potential product sales of Bria-IMT™ post-regulatory approval.

BriaCell Therapeutics Corp. continues to focus on advancing Bria-IMT™ targeted immunotherapy in combination with an immune checkpoint inhibitor in a pivotal Phase 3 study in metastatic breast cancer. Recent activity, such as the collaboration announced on November 20, 2025, with Receptor.AI for AI-driven small molecule cancer therapeutics, signals potential for future non-dilutive funding through upfront payments or milestone structures tied to those new programs.

The table below summarizes the non-current revenue components:

Revenue Type	Status/Trigger	Financial Impact
Milestone Payments	Achievement of pre-defined clinical or regulatory success in partnership programs	Variable, non-recurring cash inflow
Bria-IMT™ Sales	FDA/Health Canada regulatory approval and subsequent commercialization	Long-term, recurring product revenue