BOLT Stockholders Should Contact Shareholder Rights Law Firm Robbins LLP for Information About the Class Action Against Bolt Biotherapeutics, Inc.

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].