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BOLT

Bolt Biotherapeutics, Inc.

BOLT

Bolt Biotherapeutics, Inc. • NASDAQ
$5.07 ▲ 2.42% (+0.12)
Market Cap $9.72 M
52w High $13.00
52w Low $4.41
Dividend Yield 0%
P/E -0.23
Volume 2.91K
Outstanding Shares 1.92M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.169M ▲ $9.582M ▼ $-7.144M ▲ -329.368% ▲ $-3.722 ▲ $-6.854M ▲
Q2-2025 $1.804M ▲ $11.014M ▼ $-8.561M ▲ -474.557% ▲ $-4.46 ▼ $-8.863M ▲
Q1-2025 $1.222M ▲ $13.337M ▼ $-11.04M ▲ -903.437% ▼ $-0.29 ▲ $-11.716M ▲
Q4-2024 $0 ▼ $15.243M ▼ $-15.936M ▼ 0% ▲ $-0.42 ▼ $-15.51M ▲
Q3-2024 $1.141M $17.584M $-15.176M -1.33K% $-0.4 $-16.003M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $31.91M ▼ $65.053M ▼ $32.952M ▼ $32.101M ▼
Q2-2025 $34.769M ▼ $75.499M ▼ $36.657M ▼ $38.842M ▼
Q1-2025 $38.838M ▼ $85.862M ▼ $39.052M ▼ $46.81M ▼
Q4-2024 $47.323M ▼ $99.632M ▼ $42.434M ▲ $57.198M ▼
Q3-2024 $53.798M $109.334M $37.303M $72.031M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-7.144M ▲ $-9.732M ▼ $17.884M ▲ $0 ▼ $8.152M ▲ $-9.804M ▼
Q2-2025 $-8.561M ▲ $-9.597M ▲ $10.793M ▼ $14K ▲ $1.21M ▲ $-9.597M ▲
Q1-2025 $-11.04M ▲ $-13.365M ▲ $14.551M ▲ $0 ▼ $1.186M ▲ $-13.365M ▲
Q4-2024 $-15.936M ▼ $-14.43M ▼ $12.232M ▼ $29K ▲ $-2.169M ▼ $-14.43M ▼
Q3-2024 $-15.176M $-13.966M $17.138M $0 $3.172M $-14.007M

Five-Year Company Overview

Income Statement

Income Statement Bolt Biotherapeutics is still very much a development-stage company, with essentially no commercial revenue so far. The income statement is dominated by research and operating costs, which lead to consistent yearly losses. Those losses have been fairly steady rather than rapidly worsening, but they are still meaningful relative to the company’s size. Overall, the business is currently an R&D engine, not a revenue generator, and profitability depends entirely on the success of future drug approvals or partnerships.

Balance Sheet

Balance Sheet The balance sheet shows a small company with a limited but still positive equity base and modest levels of debt. Total assets have been drifting down over time, reflecting ongoing cash use and the absence of major new capital raises in the period shown. Cash on hand appears quite lean relative to the pace of historical spending, which points to a finite funding runway unless additional capital or partnership payments arrive. Debt is present but not overwhelming, so the main balance sheet risk is more about liquidity and future funding than about heavy leverage.

Cash Flow

Cash Flow Cash flow is consistently negative from operations, roughly in line with the recurring losses, which is typical for a clinical-stage biotech. There is essentially no spending on physical assets, so free cash flow is driven almost entirely by R&D and overhead. The pattern suggests a steady burn rather than sharp swings, but with no offsetting inflows from product sales. Continued progress therefore depends on raising external capital, securing upfront or milestone payments from partners, or meaningfully adjusting the cost base over time.

Competitive Edge

Competitive Edge Bolt operates in a crowded and fast-moving area of oncology, but its focus on myeloid cell biology and tumor microenvironment modulation gives it a distinct scientific angle. The Boltbody ISAC platform and Dectin‑2 agonist program differentiate it from more conventional antibody-drug conjugate and checkpoint inhibitor approaches. Collaborations with larger players such as Genmab and Toray provide external validation and access to broader capabilities, which helps offset Bolt’s small scale. At the same time, the company competes against much larger, better-funded firms, and it must show clear clinical advantages to carve out a lasting position.

Innovation and R&D

Innovation and R&D Innovation is the core of Bolt’s story: it is pursuing next‑generation immune‑stimulating antibody conjugates and a first‑in‑class Dectin‑2 agonist, aimed at turning hard‑to‑treat “cold” tumors into “hot” ones that respond to immune attack. The pipeline has evolved, with the discontinuation of its first‑generation HER2 program and a pivot toward more promising next‑generation candidates like the Claudin 18.2‑targeting ISAC and the Dectin‑2 asset with early positive safety and activity signals. This willingness to cut weaker programs and refocus resources suggests disciplined R&D management, but it also underlines the trial‑and‑error nature of drug discovery. Future value creation hinges on converting these scientific concepts into strong human data and on securing partners to share development risk and costs.

Summary

Bolt Biotherapeutics is a small, clinical‑stage biotech with cutting‑edge immuno‑oncology science but a typical early‑stage financial profile: minimal revenue, steady losses, and ongoing cash burn. The balance sheet is still workable but not abundant, making future funding plans and partnership deals especially important. Scientifically, the company has a clear niche in myeloid‑focused immunotherapy, proprietary platforms, and supportive early‑stage data, along with some validation from well‑known partners. The key uncertainties lie in clinical trial outcomes, timing and terms of future collaborations, regulatory risk, and the company’s ability to secure sufficient capital without overly burdening existing shareholders. Overall, this is a high‑risk, high‑uncertainty story where progress will likely be driven by clinical milestones and partnering activity over the next several years.

NEWS

November 12, 2025 · 4:05 PM UTC

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

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October 20, 2025 · 12:58 PM UTC

CSE Bulletin: Consolidation - Bolt Metals Corp. (BOLT)

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October 1, 2025 · 4:05 PM UTC

Bolt Biotherapeutics Provides Update on BDC-4182 and Extends Cash Runway into 2027

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