Bolt Biotherapeutics(US:BOLT)2026-03-12 20:05Revenue - Collaboration revenue for Q4 2025 was $2.5 million, compared to $0 in Q4 2024, and total collaboration revenue for the full year 2025 was $7.7 million, consistent with 2024[12]. Expenses - Research and Development (R&D) expenses decreased to $5.0 million in Q4 2025 from $11.7 million in Q4 2024, and for the full year, R&D expenses were $28.5 million, down from $57.5 million in 2024[12]. - General and Administrative (G&A) expenses were $3.1 million for Q4 2025, down from $3.9 million in Q4 2024, and for the full year, G&A expenses were $13.8 million compared to $18.5 million in 2024[12]. - The company reported depreciation and amortization expenses of $1,291 in 2025, down from $1,781 in 2024, which is a reduction of about 27%[16]. - Non-cash lease expenses were $2,526 in 2025, slightly up from $2,297 in 2024, indicating a rise of about 10%[16]. Losses - Loss from operations for Q4 2025 was $7.1 million, a reduction from $16.9 million in Q4 2024, and the full-year loss from operations was $36.1 million compared to $73.0 million in 2024[12]. - The net loss for Q4 2025 was $6.6 million, compared to a net loss of $15.9 million in Q4 2024, and the full-year net loss was $33.4 million compared to $63.1 million in 2024[12]. - The net loss for 2025 was $33,376, a significant improvement compared to a net loss of $63,118 in 2024, reflecting a reduction of approximately 47%[16]. Cash Flow - Cash balance as of December 31, 2025, was $31.8 million, expected to fund key milestones into 2027[4]. - Net cash used in operating activities decreased to $39,850 in 2025 from $61,289 in 2024, indicating a 35% improvement in cash flow management[16]. - Cash, cash equivalents, and restricted cash at the end of the period increased to $13,441 in 2025 from $8,970 in 2024, representing a growth of approximately 50%[16]. - The total cash, cash equivalents, and restricted cash at the beginning of 2025 was $8,970, compared to $12,575 at the beginning of 2024, indicating a decrease of approximately 29%[16]. Investments - Net cash provided by investing activities was $44,302 in 2025, down from $57,576 in 2024, showing a decrease of about 23%[16]. - The company purchased marketable securities worth $29,016 in 2025, a reduction from $88,855 in 2024, indicating a strategic shift in investment approach[16]. - Proceeds from the issuance of common stock were $19 in 2025, a decline from $108 in 2024, reflecting a decrease of approximately 82%[16]. - The company experienced a gain on the sale of fixed assets amounting to $288 in 2025, compared to a gain of $70 in 2024, reflecting an increase of approximately 311%[16]. Clinical Development - Initial clinical data from the Phase 1 study of BDC-4182 is anticipated in Q3 2026, targeting gastric and gastroesophageal cancers[5]. - BDC-4182 demonstrated significant anti-tumor activity in preclinical models and has shown a strong immune response at initial dose levels[5]. - The company has two additional next-generation Boltbody™ ISAC programs targeting CEA and PD-L1 in preclinical development, currently on hold pending funding or partnerships[5]. Assets - Total assets decreased to $56.7 million as of December 31, 2025, from $99.6 million in 2024[14].