BBOTMEDIUM SIGNALOPERATIONAL10-K

BBOT has reincorporated from the Cayman Islands to Delaware while substantially increasing R&D investment.

The shift from Cayman Islands to Delaware incorporation represents a strategic move toward a more traditional U.S. corporate structure, which often signals maturation and potential preparation for enhanced investor access or M&A activity. The corporate restructuring also involved converting from Class A/B ordinary shares to common stock, simplifying the equity structure.

Comparing 2026-03-05 vs 2025-03-11View on EDGAR →
FINANCIAL ANALYSIS

The company's R&D expenses grew substantially from $73.1 million to $121.2 million, indicating a significant commitment to innovation and product development. This level of R&D investment expansion suggests BBOT is in a growth phase and prioritizing technology advancement or new product initiatives. The increased spending reflects management's confidence in the company's cash position and future revenue prospects to support this elevated investment level.

FINANCIAL STATEMENT CHANGES
R&D Expense
P&L
+65.8%
$73.1M$121.2M

R&D investment increased 65.8% — signals commitment to future product development, though near-term margin impact.

LANGUAGE CHANGES
NEW — 2026-03-05
PRIOR — 2025-03-11
ADDED
(Exact name of Registrant as specified in its Charter) Delaware 39-3690783 (State or other jurisdiction of incorporation or organization) (I.R.S.
Shares of the Registrant s Common Stock held by each executive officer and director and by each other person who may be deemed an affiliate of the Registrant have been excluded from this computation.
The determination of affiliate status for this purpose is not necessarily a conclusive determination for other purposes.
Market for Registrant s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 100 Item 6.
Management s Discussion and Analysis of Financial Condition and Results of Operations 101 Item 7A.
Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 144 Item 9A.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 146 Item 13.
II ( Helix ), a Cayman Islands exempted company which domesticated as a Delaware corporation in August 2025, consummated a series of transactions that resulted in the combination of Helix II Merger Sub, Inc., a Delaware corporation and a wholly-owned subsidiary of Helix ( Merger Sub ), and TheRas, Inc.
(d/b/a BridgeBio Oncology Therapeutics), a Delaware corporation ( Legacy BBOT ), pursuant to a Business Combination Agreement, dated February 28, 2025, as amended on June 17, 2025 (the Business Combination Agreement ), by and among Helix, Merger Sub and Legacy BBOT, as described further below.
Pursuant to the terms of the Business Combination Agreement, a business combination between Helix and Legacy BBOT was effected through the merger of Merger Sub with and into Legacy BBOT, with Legacy BBOT surviving the merger as a wholly-owned subsidiary of Helix (the Business Combination ), following the approval by shareholders of Helix at the extraordinary general meeting of the shareholders of Helix held on August 4, 2025 (the Special Meeting ).
REMOVED
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C.
II (Exact name of registrant as specified in its charter) Cayman Islands N/A (State or other jurisdiction of incorporation or organization) (I.R.S.
The aggregate market value of the registrant s voting and non-voting common equity held by non-affiliates as of June 28, 2024 (the last business day of the registrant s most recently completed second fiscal quarter) was approximately $ 163,520,000 , computed by reference to the closing price for the Class A ordinary shares on such date, as reported on the Nasdaq Global Market ( Nasdaq ).
As of March 10, 2025, there were 18,909,000 of the registrant s Class A ordinary shares, $0.0001 par value and 4,600,000 of the registrant s Class B ordinary shares, $0.0001 par value, issued and outstanding.
Market for Registrant s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities.
Management s Discussion and Analysis of Financial Condition and Results of Operations.
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters.
Our forward-looking statements include, but are not limited to, statements regarding our or our management team s expectations, hopes, beliefs, intentions or strategies regarding the future.
In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.
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