Bolt Biotherapeutics Reports Third Quarter 2025 Financial Results and Provides Business Update

Core Insights - Bolt Biotherapeutics reported its financial results for Q3 2025, highlighting its focus on developing BDC-4182, a next-generation Boltbody™ ISAC for cancer treatment, with initial clinical data expected in Q3 2026 [1][2][4] Financial Performance - The company had a cash balance of $38.8 million as of September 30, 2025, which is anticipated to fund key milestones into 2027 [4][10] - Collaboration revenue for Q3 2025 was $2.2 million, an increase from $1.1 million in Q3 2024 [10][12] - Research and Development (R&D) expenses decreased to $6.5 million in Q3 2025 from $13.8 million in Q3 2024, primarily due to reduced salary and clinical expenses [10][12] - General and Administrative (G&A) expenses were $3.3 million in Q3 2025, down from $3.8 million in Q3 2024 [10][12] - The loss from operations was $7.7 million for Q3 2025, compared to $16.4 million for the same quarter in 2024 [10][12] Clinical Development - BDC-4182 is currently in a Phase 1 dose escalation study targeting gastric and gastroesophageal cancer, with initial data expected in Q3 2026 [2][5] - Preclinical data presented at the SITC indicated that BDC-4182 stimulates a strong immune response leading to complete tumor regression [5] - The company is also developing next-generation ISACs targeting CEA and PD-L1, with promising preclinical results [5] Collaborations and Partnerships - Ongoing collaborations with Genmab and Toray focus on developing additional next-generation ISAC programs for cancer treatment [5][10] - The company is seeking a partner for further development of BDC-3042, a proprietary agonist antibody targeting dectin-2 [10]