8-K
0001641281false00016412812026-08-112026-08-11
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): August 11, 2026 |
BOLT BIOTHERAPEUTICS, INC.
(Exact name of Registrant as Specified in Its Charter)
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Delaware |
001-39988 |
47-2804636 |
(State or Other Jurisdiction
of Incorporation) |
(Commission File Number) |
(IRS Employer
Identification No.) |
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900 Chesapeake Drive |
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Redwood City, California |
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94063 |
(Address of Principal Executive Offices) |
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(Zip Code) |
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Registrant’s Telephone Number, Including Area Code: (650) 665-9295 |
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
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Trading
Symbol(s) |
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Name of each exchange on which registered |
Common Stock, par value $0.00001 per share |
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BOLT |
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The Nasdaq Capital Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒
Item 2.02 Results of Operations and Financial Condition.
On August 11, 2026, Bolt Biotherapeutics, Inc. (the “Company”) issued a press release announcing its financial results for the second quarter ended June 30, 2026 and a business update. A copy of the press release is furnished herewith as Exhibit 99.1 and incorporated herein by reference.
The information contained herein and the accompanying exhibit is furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended, nor shall it be deemed incorporated by reference in any filing with the Securities and Exchange Commission made by us, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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Bolt Biotherapeutics, Inc. |
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Date: |
August 11, 2026 |
By: |
/s/ William P. Quinn |
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William P. Quinn
President, Chief Executive Officer and Chief Financial Officer |
EX-99.1
Exhibit 99.1
Bolt Biotherapeutics Reports Second Quarter 2026 Financial Results and Provides Business Update
•First-in-class immune-stimulating antibody conjugate BDC-4182 Phase 1/2 study ongoing, initial clinical data expected to be released with Bolt's 3Q 2026 results
•Cash balance of $18.1 million as of June 30, 2026 anticipated to fund operations into 1Q 2027
REDWOOD CITY, CA, August 11, 2026 – Bolt Biotherapeutics (Nasdaq: BOLT), a clinical-stage biopharmaceutical company developing novel immunotherapies for the treatment of cancer, today reported financial results for the second quarter ended June 30, 2026, and provided a business update.
“In the second quarter, we continued to make meaningful progress in the ongoing BDC-4182 Phase 1/2 study in patients with gastric and gastroesophageal cancer. We are currently treating patients in Cohort 4. To date, BDC-4182 has been well tolerated, and we are seeing activity consistent with our immune-stimulating mechanism,” said Willie Quinn, President and Chief Executive Officer. “We expect to report initial clinical data from BDC-4182 with our third quarter 2026 results.”
Recent Highlights and Anticipated Milestones
•Initial clinical data from BDC-4182 Phase 1/2 study for patients with gastric and gastroesophageal cancer expected with third quarter 2026 results. BDC-4182 is a next-generation BoltbodyTM ISAC targeting claudin 18.2, a clinically validated target with expression in gastric cancer, gastroesophageal junction cancer, pancreatic cancer, and other tumor types. In preclinical models, including cancer models with low claudin 18.2 expression, BDC-4182 demonstrated significant anti-tumor activity, induced immunological memory, and outperformed cytotoxic ADCs. Bolt has implemented step-up dosing, which has been successfully used commercially for T-cell engagers, as a strategy to get to higher doses safely. The clinical trial in gastric and gastroesophageal cancers is progressing well with ongoing treatment of patients in Cohort 4 at the 4.0 mg/kg dose level.
•Cash, cash equivalents, and marketable securities were $18.1 million as of June 30, 2026 . Cash on hand is expected to fund operations into first quarter 2027.
Second Quarter 2026 Financial Results
•Collaboration Revenue – Total collaboration revenue was $5,000 for the quarter ended June 30, 2026, compared to $1.8 million for the same quarter in 2025. Revenue in the comparative periods was generated from services performed under the R&D collaborations as we fulfill our performance obligations.
•Research and Development (R&D) Expenses – R&D expenses were $5.1 million for the quarter ended June 30, 2026, compared to $7.5 million for the same quarter in 2025. The decrease between the comparable periods was mainly due to a decrease in salary and related expenses primarily as a result of our restructuring and overall lower research and development activities.
•General and Administrative (G&A) Expenses – G&A expenses were $2.4 million for the quarter ended June 30, 2026, compared to $3.5 million for the same quarter in 2025. The decrease between the comparable periods was mainly due to a decrease in salary and related expenses primarily as a result of our restructuring as well as lower consulting expenses.
•Loss from Operations – Loss from operations was $8.4 million for the quarter ended June 30, 2026, compared to $9.2 million for the same quarter in 2025.
About the Boltbody™ Immune-Stimulating Antibody Conjugate (ISAC) Platform
Bolt Biotherapeutics’ Boltbody ISAC platform harnesses the precision of antibodies with the power of the innate and adaptive immune system to generate a productive anti-cancer response. Each Boltbody ISAC candidate comprises a tumor-targeting antibody, a non-cleavable linker, and a proprietary immune stimulant. The antibody is designed to target one or more markers on the surface of a tumor cell and the immune stimulant is designed to recruit and activate myeloid cells. Activated myeloid cells initiate a positive feedback loop by releasing cytokines and chemokines, chemical signals that attract other immune cells and lower the activation threshold for an immune response. This increases the population of activated immune system cells in the tumor microenvironment and promotes a robust immune response with the goal of generating durable therapeutic responses for patients with cancer.
About Bolt Biotherapeutics, Inc.
Bolt Biotherapeutics is a clinical-stage biopharmaceutical company developing novel immunotherapies for the treatment of cancer. Bolt Biotherapeutics’ pipeline reflects the Company’s expertise in myeloid biology and cancer drug development. The Company’s lead program is BDC-4182, a next-generation Boltbody™ Immune-Stimulating Antibody Conjugate (ISAC) clinical candidate targeting claudin 18.2. BDC-4182 is currently in a Phase 1/2 trial that includes patients with gastric and gastroesophageal cancer. The Company has strategic collaborations with Genmab and Toray built around the Company’s Boltbody™ ISAC platform technology. The rest of the Company’s pipeline is currently on hold, including BDC-3042, a Dectin-2 agonist that completed a first-in-human Phase 1 dose escalation trial, as well as its preclinical ISAC programs targeting CEA and PD-L1. For more information, please visit https://www.boltbio.com/.
Forward-Looking Statements
This press release contains forward-looking statements about us and our industry that involve substantial risks and uncertainties and are based on our beliefs and assumptions and on information currently available to us. All statements other than statements of historical facts contained in this press release, including statements regarding our ability to partner our CEA ISAC and PD-L1 ISAC, the advancement and success of our BDC-4182 clinical trials, the timing of initial data from our Phase 1 dose-escalation study of BDC-4182, the timing of our ISAC programs, the anti-tumor potency, safety and tolerability, and characteristics of our product candidates, the initiation of future clinical trials, the potential value of collaborations, and the expected duration of our cash runway and ability to fund key milestones into first quarter 2027, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,”
“could,” “estimate,” “expect,” “intend,” “may,” “on track,” “plan,” “potential,” “predict,” “project,” “should,” “will,” or “would,” or the negative of these words or other similar terms or expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements represent our current beliefs, estimates and assumptions only as of the date of this press release and information contained in this press release should not be relied upon as representing our estimates as of any subsequent date. These statements, and related risks, uncertainties, factors and assumptions, include, but are not limited to: the potential product candidates that we develop may not progress through clinical development or receive required regulatory approvals within expected timelines or at all; clinical trials may not confirm any safety, potency or other product characteristics described or assumed in this press release; such product candidates may not be beneficial to patients or become commercialized; and our ability to maintain our current collaborations and establish further collaborations. These risks are not exhaustive. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. Further information on factors that could cause actual results to differ materially from the results anticipated by our forward-looking statements is included in the reports we have filed or will file with the Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. These filings, when available, are available on the investor relations section of our website at investors.boltbio.com and on the SEC’s website at www.sec.gov.
Investor Relations and Media Contact:
Matthew DeYoung
Argot Partners
(212) 600-1902
boltbio@argotpartners.com
BOLT BIOTHERAPEUTICS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
(Unaudited, in thousands, except share and per share amounts)
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Collaboration revenue |
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$ |
5 |
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$ |
1,804 |
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$ |
31 |
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$ |
3,026 |
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Operating expenses: |
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Research and development |
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5,149 |
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7,498 |
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9,978 |
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17,010 |
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General and administrative |
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2,422 |
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3,516 |
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5,220 |
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7,341 |
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Impairment charges |
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808 |
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— |
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808 |
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— |
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Total operating expense |
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8,379 |
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11,014 |
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16,006 |
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24,351 |
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Loss from operations |
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(8,374 |
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(9,210 |
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(15,975 |
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(21,325 |
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Other income (expense), net: |
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Interest income, net |
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178 |
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599 |
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454 |
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1,652 |
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Other income, net |
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476 |
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50 |
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557 |
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72 |
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Total other income (expense), net |
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654 |
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649 |
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1,011 |
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1,724 |
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Net loss |
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(7,720 |
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(8,561 |
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(14,964 |
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(19,601 |
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Net unrealized loss on marketable securities |
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(33 |
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(46 |
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(23 |
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(103 |
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Comprehensive loss |
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$ |
(7,753 |
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$ |
(8,607 |
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$ |
(14,987 |
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$ |
(19,704 |
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Net loss per share, basic and diluted |
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$ |
(4.57 |
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$ |
(4.46 |
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$ |
(8.88 |
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$ |
(10.22 |
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Weighted-average shares outstanding, basic and diluted |
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1,690,529 |
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1,917,629 |
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1,685,514 |
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1,917,288 |
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BOLT BIOTHERAPEUTICS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited, in thousands)
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June 30, |
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December 31, |
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2026 |
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2025 |
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Assets |
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Current assets: |
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Cash and cash equivalents |
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$ |
12,860 |
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$ |
11,703 |
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Short-term investments |
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4,738 |
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15,802 |
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Restricted cash |
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200 |
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200 |
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Prepaid expenses and other current assets |
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2,766 |
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2,555 |
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Total current assets |
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20,564 |
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30,260 |
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Property and equipment, net |
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571 |
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1,245 |
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Operating lease right-of-use assets |
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17,075 |
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19,230 |
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Restricted cash, non-current |
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1,538 |
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1,538 |
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Long-term investments |
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509 |
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4,337 |
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Other assets |
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87 |
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138 |
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Total assets |
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$ |
40,344 |
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$ |
56,748 |
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Liabilities and stockholders' equity |
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Current liabilities: |
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Accounts payable |
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$ |
868 |
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$ |
1,443 |
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Accrued expenses and other current liabilities |
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3,089 |
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3,717 |
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Deferred revenue |
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819 |
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449 |
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Operating lease liabilities |
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3,091 |
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2,826 |
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Total current liabilities |
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7,867 |
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8,435 |
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Operating lease liabilities, net of current portion |
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18,533 |
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20,132 |
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Deferred revenue, non-current |
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1,172 |
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1,544 |
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Other long-term liabilities |
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132 |
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132 |
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Total liabilities |
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27,704 |
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30,243 |
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Commitments and contingencies |
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Stockholders' equity: |
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Common stock |
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— |
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— |
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Additional paid-in capital |
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488,427 |
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487,305 |
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Accumulated other comprehensive loss |
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(44 |
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(21 |
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Accumulated deficit |
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(475,743 |
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(460,779 |
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Total stockholders' equity |
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12,640 |
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26,505 |
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Total liabilities and stockholders' equity |
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$ |
40,344 |
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$ |
56,748 |
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BOLT BIOTHERAPEUTICS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited, in thousands)
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Six Months Ended June 30, |
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2026 |
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2025 |
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CASH FLOWS FROM OPERATING ACTIVITIES: |
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Net loss |
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$ |
(14,964 |
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$ |
(19,601 |
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Adjustments to reconcile net loss to net cash used in operating activities: |
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Depreciation and amortization |
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374 |
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746 |
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Stock-based compensation expense |
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1,097 |
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1,334 |
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Accretion of discount on marketable securities |
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(122 |
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(379 |
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Gain on sale of property and equipment |
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(404 |
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(288 |
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Asset impairment |
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808 |
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— |
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Non-cash lease expense |
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1,347 |
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1,239 |
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Changes in operating assets and liabilities: |
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Prepaid expenses and other assets |
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(160 |
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(236 |
) |
Accounts payable and accrued expenses |
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(1,203 |
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(3,351 |
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Operating lease liabilities |
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(1,334 |
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(1,026 |
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Deferred revenue |
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(2 |
) |
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(1,533 |
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Other long-term liabilities |
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— |
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133 |
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Net cash used in operating activities |
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(14,563 |
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(22,962 |
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CASH FLOWS FROM INVESTING ACTIVITIES: |
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Purchases of property and equipment |
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(13 |
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— |
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Proceeds from sales of property and equipment |
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717 |
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963 |
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Purchases of marketable securities |
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(1,230 |
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(15,457 |
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Maturities of marketable securities |
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16,221 |
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39,838 |
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Net cash provided by investing activities |
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15,695 |
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25,344 |
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CASH FLOWS FROM FINANCING ACTIVITIES: |
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Proceeds from issuance of common stock |
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25 |
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14 |
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Net cash provided by financing activities |
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25 |
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14 |
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NET INCREASE (DECREASE) IN CASH |
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1,157 |
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2,396 |
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Cash, cash equivalents and restricted cash at beginning of year |
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13,441 |
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|
8,970 |
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Cash, cash equivalents and restricted cash at end of period |
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$ |
14,598 |
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$ |
11,366 |
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Reconciliation of cash, cash equivalents and restricted cash: |
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Cash and cash equivalents |
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$ |
12,860 |
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$ |
9,601 |
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Restricted cash |
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1,738 |
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|
1,765 |
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Total cash, cash equivalents and restricted cash |
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$ |
14,598 |
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$ |
11,366 |
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