Core Viewpoint - Bolt Biotherapeutics, Inc. announced the cessation of development for its drug candidate BDC-1001, shifting focus to BDC-3042 and BDC-4182, which has led to significant stock downgrades and a sharp decline in share price [2][5]. Company Developments - On May 14, 2024, Bolt announced it would stop further development of BDC-1001 due to its failure to meet success criteria, resulting in a workforce reduction of approximately 50% [2]. - The CEO Randall C. Schatzman and CMO Edith Perez will transition to advisory roles as part of the restructuring [2]. Stock Market Reaction - Following the announcement, Bolt's stock price fell by $0.49 per share, a decrease of 37.12%, closing at $0.83 per share on May 15, 2024 [2]. Analyst Reactions - Multiple analysts downgraded Bolt's stock, citing concerns over the commercial prospects of BDC-3042 and BDC-4182, as well as the leadership changes [2]. Legal Context - A class action lawsuit has been filed on behalf of investors who purchased Bolt securities between February 5, 2021, and May 14, 2024, alleging that the company misled investors regarding the effectiveness of BDC-1001 and overstated the prospects of its product pipeline [4][5][8].

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. DETAILS OF THE CASE: According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) BDC-1001, Bolt's immune-stimulating antibody conjugate ("ISAC") designed to target a tumor antigen known as human epidermal growth factor receptor 2 ("HER2") that is often found in cance ...

Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Bolt To Contact Him Directly To Discuss Their Options Faruqi & Faruqi Logo (PRNewsfoto/Faruqi & Faruqi, LLP)Faruqi & Faruqi Logo (PRNewsfoto/Faruqi & Faruqi, LLP) On May 14, 2024, Bolt announced in a press release that the Company would "cease further development of trastuzumab imbotolimod (BDC-1001)," Bolt's lead asset, "and reduce workforce by approximately 50%." Following Bolt's announcement, multiple analysts d ...

Core Points - A class action lawsuit has been filed against Bolt Biotherapeutics, Inc. for misleading statements regarding its product BDC-1001, which is designed to target HER2 in certain cancers [7][8] - The lead plaintiff deadline for the class action is September 3, 2024, and investors who purchased Bolt securities during the Class Period (February 5, 2021 to May 14, 2024) may be entitled to compensation [7][8] Summary by Category Class Action Details - Investors can join the class action without any out-of-pocket fees through a contingency fee arrangement [3] - No class has been certified yet, meaning investors are not represented by counsel unless they retain one [2] Allegations Against the Company - The lawsuit claims that Bolt overstated the effectiveness of BDC-1001 and its product pipeline, which could lead to significant operational risks [8] - The company allegedly failed to disclose that BDC-1001 was unlikely to meet its success criteria, impacting its commercial prospects [8]

Core Viewpoint - Class actions have been initiated on behalf of stockholders of SeaStar Medical Holding Corporation and Bolt Biotherapeutics, with deadlines for lead plaintiff petitions set for September 3, 2024 [1][9]. SeaStar Medical Holding Corporation - The class period for SeaStar is from October 31, 2022, to March 26, 2024, with a lead plaintiff deadline of September 3, 2024 [2]. - The merger between SeaStar and Legacy SeaStar was completed on October 28, 2022, resulting in Legacy SeaStar becoming a wholly owned subsidiary of SeaStar [4]. - Legacy SeaStar's Selective Cytopheretic Device (SCD) was highlighted for its potential in treating hyperinflammation and was intended for FDA approval under the Humanitarian Device Exemption for pediatric acute kidney injury [2][3]. - On May 9, 2023, SeaStar's HDE application for the SCD was rejected by the FDA, leading to a significant stock price drop of 39.69% [6]. - On March 27, 2024, SeaStar announced it would restate its financial statements for the fiscal year ended December 31, 2022, due to deficiencies in accounting treatment related to certain financial instruments [7]. Bolt Biotherapeutics - The class period for Bolt Biotherapeutics is from February 5, 2021, to May 14, 2024, with a lead plaintiff deadline of September 3, 2024 [13]. - The complaint alleges that Bolt's product BDC-1001 was less effective than represented, leading to overstated clinical and commercial prospects [9].

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 action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 3, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. DETAILS OF THE CASE: According to ...

To be considered for a lead plaintiff role, a Bolt investor must file a motion in the U.S. District Court for the Northern District of California, no later than September 3, 2024. Please contact Edelson Lechtzin LLP to discuss your investment losses, at 844-696-7492 or by e-mail at [email protected]. You can also submit your trading information online HERE. Background on Bolt Biotherapeutics, Inc. focused on developing immunotherapies for cancer treatment, primarily through its "Boltbody" pipeline. The Bolt ...

[Click here for information about joining the class action] Throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) BDC-1001 was less effective than the Company had represented to investors and was in fact unlikely to meet its pre-defined success criteria; (ii) accordingly, Defendants overstated the clinical and/or c ...

SAN DIEGO, July 10, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of persons and entities that purchased or otherwise acquired Bolt Biotherapeutics, Inc. (NASDAQ: BOLT) securities between February 5, 2021 and May 14, 2024. Bolt, a clinical-stage biopharmaceutical company, engages in the development of immunotherapies for the treatment of cancer. For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003 ...

Core Viewpoint - Bolt Biotherapeutics has announced a significant shift in its development strategy, ceasing the development of BDC-1001 and focusing on BDC-3042 and BDC-4182 due to BDC-1001's failure to meet success criteria, leading to a substantial workforce reduction and management changes [2][10]. Company Overview - Bolt is a clinical-stage biopharmaceutical company focused on developing immunotherapies for cancer treatment, primarily relying on its "Boltbody" pipeline, which includes BDC-1001, BDC-3042, and BDC-4182 [3][6]. Recent Developments - The company will reduce its workforce by approximately 50% and transition its CEO and CMO to advisory roles following the decision to halt BDC-1001's development [2]. - Analysts have downgraded Bolt's stock, citing concerns over the commercial prospects of BDC-3042 and BDC-4182, as well as the leadership changes [2]. Financial Impact - Following the announcement, Bolt's stock price dropped by $0.49 per share, or 37.12%, closing at $0.83 per share on May 15, 2024 [8]. Legal Context - A class action lawsuit has been filed against Bolt and certain officers for alleged violations of federal securities laws, claiming that the company made materially false and misleading statements regarding its business and product pipeline during the class period from February 5, 2021, to May 14, 2024 [10][11].