NEW YORK, Aug. 17, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Bolt Biotherapeutics, Inc. (NASDAQ: BOLT) between February 5, 2021 and May 14, 2024, both dates inclusive (the "Class Period"), of the important September 3, 2024 lead plaintiff deadline. SO WHAT: If you purchased Bolt securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangeme ...

NEW YORK, Aug. 16, 2024 /PRNewswire/ -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Bolt Biotherapeutics, Inc. (NASDAQ: BOLT) between February 5, 2021 and May 14, 2024, both dates inclusive (the "Class Period"), of the important September 3, 2024 lead plaintiff deadline. So what: If you purchased Bolt securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. ...

[PART I – FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%20%E2%80%93%20FINANCIAL%20INFORMATION) This section provides the unaudited condensed financial statements and management's discussion and analysis for the reporting period [Item 1. Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed financial statements, including balance sheets, statements of operations, cash flows, and comprehensive notes on accounting policies and financial components [Condensed Balance Sheets](index=3&type=section&id=Condensed%20Balance%20Sheets) This section presents the company's financial position, detailing assets, liabilities, and equity at specific reporting dates Condensed Balance Sheet Highlights (in thousands) | Metric | June 30, 2024 | December 31, 2023 | | :-------------------------- | :------------ | :---------------- | | Total Current Assets | $76,631 | $105,708 | | Total Assets | $124,176 | $159,784 | | Total Current Liabilities | $17,900 | $20,456 | | Total Liabilities | $38,316 | $47,043 | - Total assets decreased from **$159.8 million** at December 31, 2023, to **$124.2 million** at June 30, 2024, primarily driven by a reduction in current assets, including cash and short-term investments[5](index=5&type=chunk) [Condensed Statements of Operations and Comprehensive Loss](index=4&type=section&id=Condensed%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) This section outlines the company's revenues, expenses, and net loss over the reporting periods, including comprehensive loss Condensed Statements of Operations and Comprehensive Loss (in thousands, except per share) | Metric | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--------------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Collaboration Revenue | $1,275 | $1,433 | $6,549 | $3,259 | | Total Operating Expense | $23,872 | $21,265 | $46,238 | $41,506 | | Loss from Operations | $(22,597) | $(19,832) | $(39,689) | $(38,247) | | Total Other Income, Net | $1,402 | $1,775 | $7,683 | $3,210 | | Net Loss | $(21,195) | $(18,057) | $(32,006) | $(35,037) | | Net Loss Per Share, Basic and Diluted | $(0.56) | $(0.48) | $(0.84) | $(0.93) | - Net loss increased to **$21.2 million** for the three months ended June 30, 2024, from **$18.1 million** in the prior year, primarily due to higher operating expenses, including restructuring charges. However, the net loss for the six months ended June 30, 2024, decreased to **$32.0 million** from **$35.0 million** in the prior year, driven by a significant increase in other income[6](index=6&type=chunk) [Condensed Statements of Stockholders' Equity](index=4&type=section&id=Condensed%20Statements%20of%20Stockholders'%20Equity) This section details changes in stockholders' equity, reflecting net loss, stock-based compensation, and common stock issuance Stockholders' Equity Changes (in thousands) | Metric | June 30, 2024 | December 31, 2023 | | :---------------------------------------- | :------------ | :---------------- | | Total Stockholders' Equity (Six Months) | $85,860 | $112,741 | | Net Loss (Six Months) | $(32,006) | $(35,037) | | Stock-based Compensation (Six Months) | $5,127 | $4,826 | | Issuance of Common Stock (Six Months) | $79 | $141 | - Total stockholders' equity decreased from **$112.7 million** at December 31, 2023, to **$85.9 million** at June 30, 2024, primarily due to the net loss incurred during the period, partially offset by stock-based compensation[9](index=9&type=chunk) [Condensed Statements of Cash Flows](index=6&type=section&id=Condensed%20Statements%20of%20Cash%20Flows) This section summarizes cash inflows and outflows from operating, investing, and financing activities for the reporting periods Condensed Statements of Cash Flows (Six Months Ended June 30, in thousands) | Activity | 2024 | 2023 | | :-------------------------------------- | :---------- | :---------- | | Net Cash Used in Operating Activities | $(32,893) | $(38,511) |\n| Net Cash Provided by Investing Activities | $28,206 | $42,571 |\n| Net Cash Provided by Financing Activities | $79 | $147 |\n| Net (Decrease) Increase in Cash | $(4,608) | $4,207 |\n| Cash, Cash Equivalents & Restricted Cash (End of Period) | $7,967 | $15,016 | - Net cash used in operating activities decreased from **$38.5 million** in H1 2023 to **$32.9 million** in H1 2024. Net cash provided by investing activities decreased from **$42.6 million** in H1 2023 to **$28.2 million** in H1 2024, mainly due to changes in marketable securities purchases and maturities[12](index=12&type=chunk) [Notes to the Condensed Financial Statements](index=8&type=section&id=Notes%20to%20the%20Condensed%20Financial%20Statements) This section provides detailed explanations of significant accounting policies, financial instrument fair values, and balance sheet components [1. Description of the Business](index=8&type=section&id=1.%20Description%20of%20the%20Business) This note describes Bolt Biotherapeutics, Inc.'s core business as a clinical-stage biopharmaceutical company developing novel cancer immunotherapies - Bolt Biotherapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing novel immunotherapies for cancer, leveraging its expertise in myeloid biology and cancer drug development to reprogram the tumor microenvironment for anti-cancer responses[14](index=14&type=chunk) [2. Summary of Significant Accounting Policies](index=8&type=section&id=2.%20Summary%20of%20Significant%20Accounting%20Policies) This note outlines the key accounting principles and policies used in preparing the unaudited condensed financial statements - The unaudited condensed financial statements are prepared in accordance with U.S. GAAP for interim financial information, including normal and recurring adjustments. The company faces risks typical of early-stage biopharmaceutical companies, including product development, capital raising, competition, supply chain, intellectual property, and regulatory challenges[15](index=15&type=chunk)[16](index=16&type=chunk) - The company has incurred net losses and negative cash flows since inception, with an accumulated deficit of **$396.3 million** as of June 30, 2024. Existing cash and marketable securities are expected to fund operations for at least the next 12 months, but additional capital will be needed for program advancement[18](index=18&type=chunk) - New accounting standards, ASU 2023-07 (Segment Reporting) and ASU 2023-09 (Income Taxes), are being evaluated, with ASU 2023-07 not expected to have a material impact[27](index=27&type=chunk)[28](index=28&type=chunk) [3. Fair Value Measurements and Fair Value of Financial Instruments](index=11&type=section&id=3.%20Fair%20Value%20Measurements%20and%20Fair%20Value%20of%20Financial%20Instruments) This note details the valuation methodologies and classifications for financial assets and liabilities measured at fair value - Financial assets measured at fair value on a recurring basis include money market accounts, short-term, and long-term investments, primarily classified as Level 2 inputs based on observable market data[30](index=30&type=chunk)[31](index=31&type=chunk) Marketable Securities (Available-for-Sale) (in thousands) | Metric | June 30, 2024 Estimated Fair Value | December 31, 2023 Estimated Fair Value | | :----------------------------------- | :--------------------------------- | :----------------------------------- | | Asset-backed securities | $24,973 | $17,342 | | U.S. treasury securities | $25,717 | $43,947 | | Other government agency securities | $6,470 | $13,356 | | Commercial paper | $7,981 | $20,345 | | Corporate debt securities | $29,151 | $22,802 | | Total | $94,292 | $117,792 | - Unrealized losses on available-for-sale investments as of June 30, 2024, were primarily due to changes in interest rates, not credit risks. The company does not intend to sell these investments before recovery of their amortized cost bases[32](index=32&type=chunk) [4. Balance Sheet Components](index=15&type=section&id=4.%20Balance%20Sheet%20Components) This note provides a breakdown of specific balance sheet accounts, including property and equipment, and accrued expenses Property and Equipment, Net (in thousands) | Category | June 30, 2024 | December 31, 2023 | | :----------------------- | :------------ | :---------------- | | Laboratory equipment | $10,075 | $10,038 | | Office equipment | $386 | $386 | | Leasehold improvements | $286 | $285 | | Total Property & Equipment | $10,747 | $10,709 | | Less: Acc. Depreciation | $(6,668) | $(5,752) | | Total, Net | $4,079 | $4,957 | Accrued Expenses and Other Current Liabilities (in thousands) | Category | June 30, 2024 | December 31, 2023 | | :----------------------------- | :------------ | :---------------- | | Accrued research and development | $4,019 | $6,092 | | Accrued compensation | $2,889 | $5,820 | | Accrued restructuring charges | $2,900 | — | | Accrued other | $446 | $574 | | Total | $10,254 | $12,486 | - Accrued expenses and other current liabilities decreased from **$12.5 million** at December 31, 2023, to **$10.3 million** at June 30, 2024, primarily due to decreases in accrued R&D and compensation, partially offset by new accrued restructuring charges[36](index=36&type=chunk) [5. Collaborations](index=16&type=section&id=5.%20Collaborations) This note describes the company's collaboration agreements for developing immune-stimulating antibody conjugates for cancer treatment - The company has collaboration agreements with Toray Industries, Inc., Genmab A/S, and Innovent Biologics, Inc. for the development of immune-stimulating antibody conjugates (ISACs) and bispecific ISACs for cancer treatment[37](index=37&type=chunk)[40](index=40&type=chunk)[43](index=43&type=chunk) Contract Liability Changes (in thousands) | Collaboration | Balance Dec 31, 2023 | Additions (billed/accrued) | Revenue Recognized | Balance June 30, 2024 | | :------------ | :------------------- | :------------------------- | :----------------- | :-------------------- | | Toray | $1,502 | $285 | $(814) | $973 | | Genmab | $6,664 | $1,169 | $(2,263) | $5,570 | | Innovent | $3,142 | $331 | $(3,473) | — | - The Amended Innovent Agreement, effective March 2024, resulted in a one-time payment of **$4.7 million** to the company and the recognition of **$2.5 million** in deferred revenue as other income, as the agreement no longer meets ASC 606 criteria[43](index=43&type=chunk)[44](index=44&type=chunk) - The company discontinued developing trastuzumab imbotolimod, impacting clinical trial collaborations with Bristol-Myers Squibb and F. Hoffmann-La Roche Ltd[45](index=45&type=chunk)[46](index=46&type=chunk) [6. Commitments and Contingencies](index=20&type=section&id=6.%20Commitments%20and%20Contingencies) This note details the company's operating lease obligations and ongoing legal proceedings, including a securities class action - The company has operating leases for its corporate office, laboratory, and vivarium space in Redwood City, California, with a weighted-average remaining lease term of **6.4 years** and a discount rate of **11.2%** as of June 30, 2024[47](index=47&type=chunk)[49](index=49&type=chunk) Future Operating Lease Liabilities and Sublease Income (in thousands) | Year | Operating Leases | Sublease Income | | :--------- | :--------------- | :-------------- | | 2024 | $2,475 | $183 | | 2025 | $4,340 | — | | 2026 | $3,484 | — | | 2027 | $3,602 | — | | 2028 | $3,724 | — | | Thereafter | $9,514 | — | | Total | $27,139 | $183 | - A securities class action complaint was filed against the company and certain officers on July 2, 2024, alleging false/misleading statements between February 5, 2021, and May 14, 2024. The company intends to vigorously defend the case[55](index=55&type=chunk) [7. Restructuring](index=22&type=section&id=7.%20Restructuring) This note outlines the strategic pipeline prioritization and restructuring plan, including workforce reduction and associated charges - On May 14, 2024, the company announced a strategic pipeline prioritization and restructuring plan, discontinuing trastuzumab imbotolimod to focus on BDC-3042 and BDC-4182, and reducing its workforce by approximately **50%**[56](index=56&type=chunk) Restructuring Charges (in thousands) | Category | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2024 | | :----------------------------- | :------------------------------- | :----------------------------- | | One-time termination benefits | $2,900 | $2,900 | | Non-cash stock-based compensation | $700 | $700 | | Total Restructuring Charge | $3,600 | $3,600 | [8. Common Stock](index=23&type=section&id=8.%20Common%20Stock) This note describes the company's common stock, including shelf registration and at-the-market offering program details - The company has a shelf registration statement on Form S-3 allowing for the sale of up to **$250.0 million** in securities and an at-the-market (ATM) offering program for up to **$75.0 million** in common stock, though no shares have been sold under the ATM as of June 30, 2024[57](index=57&type=chunk) [9. Stock-Based Compensation](index=23&type=section&id=9.%20Stock-Based%20Compensation) This note details the company's equity incentive plans, employee stock purchase plan, and related compensation expenses - The 2021 Equity Incentive Plan and 2021 Employee Stock Purchase Plan (ESPP) allow for automatic annual increases in reserved shares. On January 1, 2024, **1,905,730 shares** were added to the 2021 Plan and **381,146 shares** to the ESPP[58](index=58&type=chunk)[59](index=59&type=chunk) - In connection with the May 2024 restructuring, **1,615,713 stock options** previously granted to certain officers were canceled on July 15, 2024[58](index=58&type=chunk) Stock-Based Compensation Expense (in thousands) | Category | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Research and development | $1,077 | $905 | $2,057 | $1,931 | | General and administrative | $1,748 | $1,445 | $3,070 | $2,895 | | Total | $2,825 | $2,350 | $5,127 | $4,826 | [10. Net Loss Per Share](index=25&type=section&id=10.%20Net%20Loss%20Per%20Share) This note presents the calculation of basic and diluted net loss per share for the reporting periods Net Loss Per Share (Basic and Diluted) | Metric | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--------------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Net Loss | $(21,195) | $(18,057) | $(32,006) | $(35,037) | | Weighted-average shares outstanding | 38,128,344 | 37,750,393 | 38,098,383 | 37,717,391 | | Net Loss Per Share, Basic and Diluted | $(0.56) | $(0.48) | $(0.84) | $(0.93) | - Potentially dilutive securities were anti-dilutive for all periods presented due to the company reporting a net loss, resulting in basic and diluted net loss per share being the same[25](index=25&type=chunk)[63](index=63&type=chunk) [Special Note Regarding Forward-Looking Statements](index=26&type=section&id=SPECIAL%20NOTE%20REGARDING%20FORWARD-LOOKING%20STATEMENTS) This section outlines forward-looking statements regarding the company's strategy, product candidates, and funding, noting inherent risks and no obligation for public updates - Forward-looking statements cover expectations regarding product candidate success, collaborations, funding, and regulatory approvals, and are subject to risks and uncertainties[66](index=66&type=chunk)[67](index=67&type=chunk) - The company does not plan to publicly update or revise any forward-looking statements, except as required by applicable law, acknowledging that actual results could differ materially[68](index=68&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=27&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations.) This section provides management's analysis of financial condition and operational results, covering business overview, macroeconomic factors, revenue, expenses, liquidity, and critical accounting estimates [Overview](index=27&type=section&id=Overview) This section provides a high-level summary of Bolt Biotherapeutics' business, product pipeline, and recent strategic restructuring - Bolt Biotherapeutics is a clinical-stage biopharmaceutical company developing novel immunotherapies for cancer, utilizing its Boltbody™ ISAC platform and Dectin-2 agonist antibody program (BDC-3042)[73](index=73&type=chunk)[74](index=74&type=chunk) - BDC-3042 has completed five dose escalation cohorts in a **Phase 1** study without dose-limiting toxicity. BDC-4182, a next-generation Boltbody™ ISAC targeting Claudin 18.2, is in IND-enabling activities with a clinical trial expected in **2025**[74](index=74&type=chunk)[75](index=75&type=chunk) - A strategic pipeline prioritization and restructuring plan was announced on May 14, 2024, discontinuing trastuzumab imbotolimod to focus on BDC-3042 and BDC-4182, and reducing the workforce by approximately **50%**, incurring **$3.6 million** in restructuring charges[76](index=76&type=chunk) - The company has incurred operating losses since inception, with net losses of **$21.2 million** and **$32.0 million** for the three and six months ended June 30, 2024, respectively, and an accumulated deficit of **$396.3 million**[79](index=79&type=chunk) [Business Conditions and Macroeconomic Factors](index=28&type=section&id=Business%20Conditions%20and%20Macroeconomic%20Factors) This section discusses the impact of macroeconomic factors like inflation, interest rates, and geopolitical events on the company's operations - Macroeconomic factors such as inflation, interest rates, market fluctuations, and geopolitical conflicts continue to impact the company's business, operating results, and financial condition, with the extent of future impact remaining uncertain[81](index=81&type=chunk)[82](index=82&type=chunk) [Components of Results of Operations](index=28&type=section&id=Components%20of%20Results%20of%20Operations) This section explains the key drivers and components of the company's collaboration revenue, operating expenses, and other income - Collaboration revenue is derived from agreements with Toray, Genmab, and Innovent, recognized over time as performance obligations are fulfilled. The Amended Innovent Agreement led to a one-time recognition of deferred revenue and other income[83](index=83&type=chunk)[84](index=84&type=chunk)[85](index=85&type=chunk) - Research and development expenses primarily cover early research, preclinical and clinical development, manufacturing, and personnel costs. These costs are expected to increase as product candidates advance through development stages[87](index=87&type=chunk)[89](index=89&type=chunk) - General and administrative expenses include salaries, stock-based compensation, legal fees, accounting services, and facility costs, expected to continue for ongoing R&D and public company operations[91](index=91&type=chunk) - Restructuring charges consist of one-time termination benefits and stock-based compensation related to workforce reductions[92](index=92&type=chunk) [Results of Operations](index=33&type=section&id=Results%20of%20Operations) This section provides a detailed analysis of the company's financial performance, including revenue, expenses, and net loss trends Key Financial Results (in thousands) | Metric | Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | Six Months Ended June 30, 2024 | Six Months Ended June 30, 2023 | | :--------------------------------------- | :------------------------------- | :------------------------------- | :----------------------------- | :----------------------------- | | Collaboration Revenue | $1,275 | $1,433 | $6,549 | $3,259 | | Research and Development Expenses | $15,433 | $15,644 | $31,962 | $30,269 | | General and Administrative Expenses | $4,874 | $5,621 | $10,711 | $11,237 | | Restructuring Charges | $3,565 | — | $3,565 | — | | Interest Income, Net | $1,402 | $1,775 | $3,008 | $3,210 | | Other Income | — | — | $4,675 | — | | Net Loss | $(21,195) | $(18,057) | $(32,006) | $(35,037) | - Collaboration revenue decreased by **$0.2 million** for the three months ended June 30, 2024, due to no revenue from Innovent, but increased by **$3.3 million** for the six months due to the Amended Innovent Agreement and continued progress with other partners[94](index=94&type=chunk) - Research and development expenses increased by **$1.7 million** for the six months ended June 30, 2024, driven by BDC-3042 clinical trial progress and increased headcount, partially offset by lower manufacturing and consulting expenses[95](index=95&type=chunk) - General and administrative expenses decreased by **$0.7 million** for the three months and **$0.5 million** for the six months ended June 30, 2024, primarily due to a decrease in bonus expense resulting from the restructuring plan[96](index=96&type=chunk) - Other income of **$4.7 million** for the six months ended June 30, 2024, was a one-time payment from Innovent under the Amended Innovent Agreement[99](index=99&type=chunk) [Liquidity and Capital Resources](index=35&type=section&id=Liquidity%20and%20Capital%20Resources) This section assesses the company's cash position, funding sources, and future capital requirements for ongoing operations and program advancement - As of June 30, 2024, the company had **$97.5 million** in cash, cash equivalents, and marketable securities, which are believed to be sufficient to fund operations for at least the next **12 months**[100](index=100&type=chunk) - The company has a shelf registration statement for up to **$250.0 million** in securities and an ATM offering program for up to **$75.0 million** in common stock, but no shares have been sold under the ATM as of June 30, 2024[101](index=101&type=chunk) Summary Cash Flows (Six Months Ended June 30, in thousands) | Activity | 2024 | 2023 | | :-------------------------------------- | :---------- | :---------- | | Net Cash Used in Operating Activities | $(32,893) | $(38,511) | | Net Cash Provided by Investing Activities | $28,206 | $42,571 | | Net Cash Provided by Financing Activities | $79 | $147 | | Net (Decrease) Increase in Cash | $(4,608) | $4,207 | - Future capital requirements are dependent on clinical trial progress, regulatory outcomes, manufacturing costs, and the ability to secure additional funding through equity, debt, or collaborations[106](index=106&type=chunk)[107](index=107&type=chunk)[109](index=109&type=chunk) [Contractual Obligations and Commitments](index=38&type=section&id=Contractual%20Obligations%20and%20Commitments) This section refers to detailed information on the company's contractual obligations and commitments provided in the financial statement notes - Information on contractual obligations and commitments is detailed in Notes 5 (Collaborations) and 6 (Commitments and Contingencies) to the condensed financial statements[110](index=110&type=chunk) [Critical Accounting Estimates](index=38&type=section&id=Critical%20Accounting%20Estimates) This section discusses the company's critical accounting policies and estimates, including the assessment of long-lived asset impairment - There have been no material changes to critical accounting policies and estimates, except for the long-lived assets impairment assessment, which concluded no impairment charge was recognized during the three months ended June 30, 2024, following the May 2024 restructuring plan[112](index=112&type=chunk)[113](index=113&type=chunk)[21](index=21&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=39&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, Bolt Biotherapeutics, Inc. is not required to provide quantitative and qualitative disclosures about market risk - The company is a smaller reporting company and is exempt from providing quantitative and qualitative disclosures about market risk[114](index=114&type=chunk) [Item 4. Controls and Procedures](index=39&type=section&id=Item%204.%20Controls%20and%20Procedures) This section confirms the effectiveness of the company's disclosure controls and procedures and reports no material changes in internal control over financial reporting during the quarter - Management concluded that disclosure controls and procedures were effective at a reasonable assurance level as of June 30, 2024[115](index=115&type=chunk) - There were no material changes in internal control over financial reporting during the three months ended June 30, 2024[116](index=116&type=chunk) [PART II OTHER INFORMATION](index=39&type=section&id=PART%20II%20OTHER%20INFORMATION) This section details legal proceedings, risk factors, equity sales, defaults, and other required disclosures [Item 1. Legal Proceedings](index=39&type=section&id=Item%201.%20Legal%20Proceedings) The company is subject to various legal proceedings in the normal course of business. A securities class action complaint was filed on July 2, 2024, alleging false/misleading statements, which the company intends to defend vigorously - A securities class action complaint was filed on July 2, 2024, against the company and certain directors/executive officers, alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934[55](index=55&type=chunk) - The complaint seeks unspecified monetary damages and other relief, and the company intends to defend the case vigorously[55](index=55&type=chunk) [Item 1A. Risk Factors](index=39&type=section&id=Item%201A.%20Risk%20Factors) This section updates the risk factors, highlighting potential negative consequences of the recent restructuring, including loss of expertise and decreased morale. It also details the risk of Nasdaq delisting due to the minimum bid price requirement and the implications of becoming subject to 'penny stock' rules - The May 2024 restructuring, including a **50%** workforce reduction, may lead to unintended consequences such as loss of institutional knowledge, decreased morale, and difficulties in pursuing new opportunities, potentially harming the company's ability to compete and develop product candidates[118](index=118&type=chunk)[119](index=119&type=chunk) - The company received a Nasdaq notice on July 2, 2024, for failing to meet the **$1.00** minimum bid price requirement. Failure to regain compliance by December 30, 2024, could lead to delisting, negatively impacting stock price and liquidity[120](index=120&type=chunk)[121](index=121&type=chunk) - Delisting from Nasdaq could subject the common stock to 'penny stock' rules, imposing restrictive sales practice requirements on broker-dealers and adversely affecting stockholders' ability to sell shares[123](index=123&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=41&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no recent unregistered sales of equity securities - There were no recent unregistered sales of equity securities[124](index=124&type=chunk) [Item 3. Defaults Upon Senior Securities](index=41&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities - There were no defaults upon senior securities[124](index=124&type=chunk) [Item 4. Mine Safety Disclosures](index=41&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - This item is not applicable[124](index=124&type=chunk) [Item 5. Other Information](index=41&type=section&id=Item%205.%20Other%20Information) The company reported no other information - No other information was reported[125](index=125&type=chunk) [Item 6. Exhibits](index=42&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed, furnished, or incorporated by reference as part of this Quarterly Report on Form 10-Q, including organizational documents, certifications, and XBRL documents - The exhibit index includes the Amended and Restated Certificate of Incorporation, Bylaws, common stock certificate form, officer certifications (302 and 906), and various Inline XBRL documents[127](index=127&type=chunk) [Signatures](index=43&type=section&id=SIGNATURES) The report is duly signed on behalf of Bolt Biotherapeutics, Inc. by its President, Chief Executive Officer, and Chief Financial Officer, William P. Quinn, and its Vice President, Finance, Sarah Nemec, as of August 13, 2024 - The report was signed by William P. Quinn, President, CEO, and CFO, and Sarah Nemec, VP of Finance, on August 13, 2024[130](index=130&type=chunk)

Exhibit 99.1 Bolt Biotherapeutics Reports Second Quarter 2024 Financial Results and Provides Business Update • Advanced to Cohort 6 in the Phase 1 dose-escalation clinical study of BDC-3042 in patients with advanced cancers • Abstract accepted for BDC-4182, a claudin 18.2-targeting BoltbodyTM ISAC at the Society for Immunotherapy of Cancer (SITC) 39th Annual Meeting • Cash balance of $97.5 million as of June 30, 2024 anticipated to fund key milestones through mid-2026 REDWOOD CITY, CA, Aug. 13, 2024 – Bolt ...

Advanced to Cohort 6 in the Phase 1 dose-escalation clinical study of BDC-3042 in patients with advanced cancers Abstract accepted for BDC-4182, a claudin 18.2-targeting BoltbodyTM ISAC at the Society for Immunotherapy of Cancer (SITC) 39th Annual Meeting Cash balance of $97.5 million as of June 30, 2024 anticipated to fund key milestones through mid-2026 REDWOOD CITY, Calif., Aug. 13, 2024 (GLOBE NEWSWIRE) -- Bolt Biotherapeutics (Nasdaq: BOLT), a clinical-stage biopharmaceutical company developing novel i ...

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Bolt To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $50,000 in Bolt between February 5, 2021 and May 14, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212- 983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/BOLT. NEW YORK, Aug. 7, ...

NEW YORK, Aug. 04, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Bolt Biotherapeutics, Inc. (NASDAQ: BOLT) between February 5, 2021 and May 14, 2024, both dates inclusive (the "Class Period"), of the important September 3, 2024 lead plaintiff deadline. SO WHAT: If you purchased Bolt securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangeme ...

Follow us for updates on LinkedIn, on X, or on Facebook. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com. As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) BDC-1001 was less eff ...

WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Bolt Biotherapeutics, Inc. (NASDAQ: BOLT) between February 5, 2021 and May 14, 2024, both dates inclusive (the "Class Period"), of the important September 3, 2024 lead plaintiff deadline. WHAT TO DO NEXT: To join the Bolt class action, go to https://rosenlegal.com/submit-form/?case_id=26946 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class ac ...

If you are a shareholder who suffered a loss, click here to participate. LOS ANGELES, July 24, 2024 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Bolt Biotherapeutics, Inc. ("Bolt" or "the Company") (NASDAQ: BOLT) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. CONTACT: The Schall Law Firm Brian Schall, Esq. ...