Bolt Biotherapeutics, Inc.

Listed Company

BOLTCIK 0001641281NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$7.70M

Net Income

$-33.38M

Total Assets

$56.75M

Equity

$26.50M

Shares Out

1.92M

Op. Cash Flow

$-39.85M

Business

Bolt Biotherapeutics, Inc. is a clinical-stage biopharmaceutical company developing novel immunotherapies that activate myeloid biology to treat cancer. Its main products are Boltbody™ ISACs—antibody-based therapeutics that combine tumor-targeting antibodies with immune-stimulating linker-payloads—and a dectin-2 agonist antibody (BDC-3042). The company operates R&D-focused business segments including proprietary Boltbody ISAC programs, a myeloid-directed agonist antibody program, and partnered collaboration programs with companies such as Genmab, Toray, and Innovent. Bolt pursues global clinical development and commercialization through collaborations and relies on third-party CDMOs for manufacturing and distribution.

Summary from filing dated 2025-03-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Collaboration revenue	8	8	8	6	1
Research and development	29	57	62	73	76
General and administrative	14	18	23	23	18
Restructuring charges	1	3	0	—	—
Impairment charges	0	1	0	—	—
Total operating expense	44	81	84	96	94
Loss from operations	−36	−73	−76	−90	−93
Interest income, net	2	5	7	2	281,000
Other income, net	241,000	5	0	—	—
Total other income, net	3	10	7	2	−6
Net loss	−33	−63	−69	−88	−99
Net unrealized (loss) gain on marketable securities	−118,000	60,000	956,000	−600,000	−300,000
Comprehensive loss	−33	−63	−68	−89	−99
Net loss per share, basic	−17.85	−33.06	−1.83	−2.36	−2.97
Net loss per share, diluted	−17.85	−33.06	−1.83	−2.36	−2.97
Weighted-average shares outstanding, basic	2	2	38	37	33
Weighted-average shares outstanding, diluted	2	2	38	37	33

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	12	7	11	9	27
Short-term investments	16	40	91	160	159
Restricted cash	200,000	784,000	0	—	—
Prepaid expenses and other current assets	3	3	4	4	3
Total current assets	30	51	106	173	189
Property and equipment, net	1	3	5	6	6
Operating lease right-of-use assets	19	22	19	22	24
Restricted cash, non-current	2	981,000	2	2	2
Long-term investments	4	23	26	24	85
Other assets	138,000	62,000	2	1	1
Total assets	57	100	160	228	308
Accounts payable	1	2	3	4	4
Accrued expenses and other current liabilities	4	9	12	15	12
Deferred revenue	449,000	3	2	2	3
Operating lease liabilities	3	2	3	2	3
Total current liabilities	8	16	20	23	21
Operating lease liabilities, net of current portion	20	23	17	20	22
Deferred revenue, non-current	2	4	9	13	14
Other long-term liabilities	132,000	0	43,000	42,000	210,000
Total liabilities	30	42	47	56	58
Commitments and contingencies (Note 6)	—	—	—	—	—
Common stock, $0.00001 par value; 200,000,000 shares authorized at December 31, 2025 and 2024; 1,920,566 and 1,916,943 shares issued and outstanding at December 31, 2025 and 2024, respectively	0	0	0	0	0
Additional paid-in capital	487	485	477	468	457
Accumulated other comprehensive gain	−21,000	97,000	37,000	−919,000	−321,000
Accumulated deficit	−461	−427	−364	−295	−207
Total stockholders' equity	27	57	113	172	250
Total liabilities and stockholders' equity	57	100	160	228	308

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−33	−63	−69	−88	−99
Depreciation and amortization	1	2	2	2	1
Stock-based compensation expense	3	7	9	10	9
Accretion of discount on marketable securities	−670,000	−3	−4	184,000	3
Gain on sale of fixed assets	−288,000	−70,000	0	—	—
Non-cash lease expense	3	2	3	3	2
Prepaid expenses and other assets	76,000	3	−454,000	−903,000	−568,000
Accounts payable and accrued expenses	−5	−5	−3	3	7
Operating lease liabilities, net	−2	−1	−2	−3	−1
Deferred revenue	−5	−5	−4	−2	16
Other long-term liabilities	132,000	−43,000	1,000	−164,000	4,000
Net cash used in operating activities	−40	−61	−70	−77	−57
Purchase of property and equipment	−72,000	−41,000	−206,000	−2	−2
Proceeds from sales of property and equipment	963,000	148,000	0	—	—
Purchases of marketable securities	−29	−89	−165	−181	−313
Maturities of marketable securities	72	146	236	241	84
Net cash provided by investing activities	44	58	71	58	−232
Proceeds from issuance of common stock	19,000	108,000	253,000	503,000	1
Net cash provided by financing activities	19,000	108,000	253,000	503,000	311
NET INCREASE (DECREASE) IN CASH	4	−4	2	−18	22
Right of use assets obtained in exchange for operating lease obligations	0	6	0	852,000	15

Filings

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