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Bolt Biotherapeutics, Inc. (BOLT)

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Previous Close22.36
Open22.15
Bid21.46 x 900
Ask24.98 x 1100
Day's Range22.10 - 24.35
52 Week Range20.87 - 43.07
Volume114,274
Avg. Volume436,372
Market Cap882.768M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateMar 31, 2021
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est41.00
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    • Bolt Biotherapeutics Announces AACR 2021 Presentation of Boltbody™ Platform Mechanism of Action and Clinical Properties of Lead ISAC, BDC-1001
      GlobeNewswire

      Bolt Biotherapeutics Announces AACR 2021 Presentation of Boltbody™ Platform Mechanism of Action and Clinical Properties of Lead ISAC, BDC-1001

      Bolt’s first-in-class clinical candidate, BDC-1001, is a novel HER2-targeting, TLR 7/8 immune-stimulating antibody conjugate (ISAC) currently in an ongoing Phase 1/2 first-in-human studyREDWOOD CITY, Calif., April 10, 2021 (GLOBE NEWSWIRE) -- Bolt Biotherapeutics, Inc. (Nasdaq: BOLT), a clinical-stage biotechnology company pioneering a new class of immuno-oncology agents that combine the targeting precision of antibodies with the power of both the innate and adaptive immune systems, today announced that an online oral presentation with live Q&A and a Trial in Progress poster presentation for lead agent BDC-1001 are being presented at the American Association for Cancer Research (AACR) Annual Meeting 2021 being held virtually from April 10-15th. The oral presentation explores immunosuppression mediated by various cells in the tumor microenvironment (TME), as well as the tumor-supportive nature of antigen presenting cells (APCs) in the TME in preclinical models. Reawakening these immunosuppressed APCs may result in a productive and durable anti-tumor immune response. Bolt is utilizing its Boltbody™ platform to create immune-stimulating antibody conjugates (ISACs), such as BDC-1001, that invoke this mechanism and provided complete tumor regression in preclinical tumor models. “In murine models we have seen efficacy in a variety of tumors that are immunologically cold and well-established. Furthermore, consistent with our proposed mechanism of action for ISACs, we see evidence of increased myeloid and T cell infiltration in the tumor microenvironment mediated by BDC-1001 surrogate ISACs,” said David Dornan, Ph.D., Chief Scientific Officer at Bolt Biotherapeutics. “We’re excited to share our rationale for selecting the linker-payload for BDC-1001 to optimize anti-tumor activity while minimizing the potential for the formation of anti-drug antibodies.” BDC-1001 is comprised of a tumor antigen-targeting monoclonal antibody (mAb), a trastuzumab biosimilar and an immune-stimulating agent (a TLR7/8 agonist) conjugated to each other with a non-cleavable linker. In a series of preclinical studies with BDC-1001, Bolt demonstrated the mechanism of action for their HER2-targeted ISAC. BDC-1001 surrogate was able to eliminate established, treatment-resistant tumors through the engagement of both innate and adaptive immunity. There were no adverse findings in toxicology studies of BDC-1001. A Trial in Progress poster is also being presented by Manish R. Sharma, M.D. of START Midwest, a principal investigator in Bolt’s ongoing BDC-1001 Phase 1/2 trial. The poster details the design of the study: a four-part study with two dose-escalation parts and two dose-expansion parts. The study is evaluating BDC-1001 administered intravenously with or without an immune checkpoint inhibitor targeting PD-1 in up to 390 patients with HER2-expressing or HER2-amplified advanced or metastatic solid tumors. The dose escalation parts will evaluate sequential doses of BDC-1001 as a monotherapy or in combination with a PD-1 checkpoint inhibitor in a 3+3 design, with the ability to backfill up to an additional 12 patients in each dose cohort. The dose expansion parts will evaluate the recommended Phase 2 dose as monotherapy or in combination with a PD-1 checkpoint inhibitor in four cohorts of patients. The primary objective of the dose escalation portion of the study is to assess safety as measured by the incidence of adverse events and serious adverse events; dose-limiting toxicities within the 3+3 design; and potential immune-related toxicities and determine the recommended phase 2 dose. Secondary objectives will evaluate pharmacokinetic parameters and pharmacodynamic biomarkers in tumor tissue and in peripheral blood associated with drug exposure. These exploratory studies will help reinforce the ISAC mechanism of action in humans and seek to identify biomarkers associated with BDC-1001 biological activity with or without an immune checkpoint inhibitor. In January, Bolt presented a preliminary clinical update on the first 20 patients that showed early signs of clinical activity, including stable disease in several patients and a confirmed partial response by RECIST, and acceptable safety with all 20 patients completing their dose-limiting toxicity (DLT) evaluation period without DLTs or drug-related serious adverse events. Treatment-emergent adverse events deemed to be related to BDC-1001 have been mild or moderate in severity, including mild infusion-related reactions without interruption to dosing. Bolt expects to provide an update on the trial sometime in the second half of 2021. About Bolt Biotherapeutics’ Immune Stimulating Antibody Conjugate (ISAC) Platform Technology The Boltbody™ ISAC platform technology harnesses the ability of innate immune agonists to convert cold tumors into immunologically hot tumors, thereby illuminating tumors to the immune system and allowing them to be invaded by tumor killing cells. Boltbody ISACs have demonstrated the ability to eliminate tumors following systemic administration as monotherapy in preclinical models and have also led to the development of immunological memory, which is predicted to translate into more durable clinical responses for patients. About the Ongoing BDC-1001 Phase 1/2 Study in Patients with HER2-Expressing Solid Tumors The Phase 1/2, multi-center, open-label study is evaluating the safety, pharmacokinetics, pharmacodynamics and proof of mechanism of BDC-1001 in patients with HER2-expressing solid tumors. The first portion of the study includes a monotherapy dose-escalation phase in which cohorts of patients will receive ascending intravenous doses of BDC-1001 to determine the maximum tolerated dose and/or the recommended dose to advance into expansion cohorts and Phase 2 based on safety and tolerability. The second portion of the study is a dose expansion phase in which patients will receive BDC-1001 monotherapy to further evaluate the safety, tolerability and clinical antitumor activity of the recommended Phase 2 dose. Please refer to www.clinicaltrials.gov NCT04278144 for additional clinical trial information. About Bolt Biotherapeutics, Inc.Bolt Biotherapeutics, Inc. is a clinical-stage biotechnology company pioneering a new class of immuno-oncology agents that combine the targeting precision of antibodies with the power of both the innate and adaptive immune systems Bolt’s proprietary Boltbody™ Immune-stimulating Antibody Conjugates (ISACs) approach uses immunostimulants to engage and activate myeloid cells that directly kill tumor cells. This leads to the conversion of immunologically “cold” tumors to “hot” tumors. Bolt’s lead candidate, BDC-1001, is a Boltbody ISAC comprised of a HER2-targeting biosimilar of trastuzumab conjugated to one of Bolt’s proprietary TLR7/8 agonists for the treatment of patients with HER2-expressing solid tumors. Bolt is also advancing additional Boltbody ISAC product candidates targeting CEA and PD-L1. For more information, visit https://www.boltbio.com/. Forward Looking StatementsThis 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 clinical trials, the timing of enrollment for our Phase 1/2 trial for BDC-1001 for the treatment of patients with HER2-expressing solid tumors, the potential of BDC-1001’s anti-tumor activity while minimizing the formation of anti-drug antibodies, the potential that APCs may result in a productive and durable anti-tumor immune response, and the prediction that Boltbody ISACs may translate into more durable clinical responses for patients. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “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. 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 for the year ended December 31, 2020. 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. Media Contacts:Maggie Beller or David SchullRusso Partners, LLC646-942-5631maggie.beller@russopartnersllc.comdavid.schull@russopartnersllc.com Investor Relations Contact:Sarah McCabeStern Investor Relations, Inc.212-362-1200sarah.mccabe@sternir.com

    • Bolt Biotherapeutics to Present at 20th Annual Needham Virtual Healthcare Conference
      GlobeNewswire

      Bolt Biotherapeutics to Present at 20th Annual Needham Virtual Healthcare Conference

      REDWOOD CITY, Calif., April 08, 2021 (GLOBE NEWSWIRE) -- Bolt Biotherapeutics (Nasdaq: BOLT), a clinical-stage biotechnology company pioneering a new class of immuno-oncology agents that combine the targeting precision of antibodies with the power of both the innate and adaptive immune systems, today announced that Randall C. Schatzman, Ph.D., Chief Executive Officer, will present a company overview at the 20th Annual Needham Virtual Healthcare Conference on Thursday, April 15, 2021 at 10:15 AM ET. A live webcast of the presentation will be available on the Events and Presentations page of Bolt’s website at www.boltbio.com. An archived replay will be available for 90 days following the event. About Bolt Biotherapeutics, Inc.Bolt Biotherapeutics, Inc. is a clinical-stage biotechnology company pioneering a new class of immuno-oncology agents that combine the targeting precision of antibodies with the power of both the innate and adaptive immune systems. Bolt’s proprietary Boltbody™ Immune-stimulating Antibody Conjugates (ISACs) approach uses immunostimulants to engage and activate myeloid cells that directly kill tumor cells. This leads to the conversion of immunologically “cold” tumors to “hot” tumors. Bolt’s lead candidate, BDC-1001, is a Boltbody ISAC comprised of a HER2-targeting biosimilar of trastuzumab conjugated to one of Bolt’s proprietary TLR7/8 agonists currently undergoing phase 1/2 clinical testing for the treatment of patients with HER2-expressing solid tumors. Bolt is also advancing an additional Boltbody ISAC product candidate targeting CEA (BDC-2034). Media Contacts: Maggie Beller or David Schull Russo Partners, LLC 646-942-5631 maggie.beller@russopartnersllc.com david.schull@russopartnersllc.com Investor Relations Contact:Sarah McCabeStern Investor Relations, Inc.212-362-1200sarah.mccabe@sternir.com

    • Bolt Biotherapeutics Reports Fourth Quarter and Full Year 2020 Financial Results and Provides Business Highlights
      GlobeNewswire

      Bolt Biotherapeutics Reports Fourth Quarter and Full Year 2020 Financial Results and Provides Business Highlights

      – Upsized IPO in February 2021 raised $264.5 million in gross proceeds plus Series C raised $93.5 million for a total of $358 million in recent fundraising – – Advanced first-in-class Boltbody™ ISAC into the clinic in 2020 and continued to expand pipeline of pioneering immuno-oncology assets – – Reported positive preliminary data from first 20 patients treated with the HER2-targeting Boltbody ISAC BDC-1001 in ongoing Phase 1/2 clinical trial in early 2021; monotherapy dose expansion and anti-PD-1 antibody combination parts of study expected to start in 2H, 2021 – REDWOOD CITY, Calif., March 31, 2021 (GLOBE NEWSWIRE) -- Bolt Biotherapeutics, Inc. (NASDAQ: BOLT) a clinical-stage biotechnology company pioneering a new class of immuno-oncology agents that combine the targeting precision of antibodies with the power of both the innate and adaptive immune systems, today reported financial results for the fourth quarter and full year ended December 31, 2020 and provided an update on recent business highlights. “Our upsized Initial Public Offering, which we completed in February 2021, leaves us in a strong financial position to execute on our vision of developing this new class of immuno-oncology products to help patients. We continue to enroll patients in the dose escalation part of our Phase 1/2 trial for our lead candidate, BDC-1001, for the treatment of patients with HER2-expressing solid tumors. We reported preliminary clinical results from an initial 20 patients at a data cutoff of January 29, 2021, which demonstrated 4 patients with stable disease and one patient with a confirmed partial response. We’re looking forward to completing the dose escalation and initiating both the monotherapy Phase 2 dose expansions part and the combination studies with an anti-PD-1 antibody part later in 2021,” said Randall C. Schatzman, Ph.D., Chief Executive Officer of Bolt. “We continue to progress our broader pipeline of targeted immunotherapies derived from our Boltbody™ ISAC platform, a novel technology that can be applied across a diverse range of tumor targets and has the potential to enable cancer patients to generate immunological memory against their own tumors. We plan to advance our second Boltbody ISAC BDC-2034, which targets the cancer antigen CEA, into the clinic in 2022.” Recent Business Highlights and Anticipated Milestones Completed upsized Initial Public Offering in February 2021 – In February 2021, Bolt completed its Initial Public Offering (IPO) of 13,225,000 shares of common stock, inclusive of the full exercise by the underwriters of their option to purchase 1,725,000 shares, at a public offering price of $20.00 per share. Gross proceeds from the IPO were $264.5 million and net proceeds from the offering, after deducting underwriting discounts, commissions and offering expenses, were approximately $241.7 million.Reported preliminary clinical results from the first 20 patients from the ongoing Phase 1/2 trial of lead candidate BDC-1001 for the treatment of patients with HER2-expressing solid tumors –BDC-1001 is a human epidermal growth factor receptor 2, or HER2, Boltbody Immune-Stimulating Antibody Conjugate (ISAC) comprised of a HER2-targeting biosimilar of trastuzumab conjugated to one of Bolt’s proprietary TLR7/8 agonists, for the treatment of patients with HER2-expressing solid tumors, including HER2-low tumors. A Phase 1/2 study evaluating BDC-1001 in patients with HER2-expressing cancers, which includes patients with breast and gastric cancers that are refractory to Herceptin® and Kadcyla®, as well as cancers for which no HER2-targeting therapies have yet been approved, is ongoing. Bolt is currently enrolling patients in the dose escalation portion of the trial. As of January 29, 2021, Bolt had treated 20 patients and BDC-1001 appeared to be well tolerated with mild to moderate adverse events and no dose-limiting toxicities or drug-related serious adverse events were observed. Clinical activity was seen in the form of stable disease, reductions in tumor volume including a confirmed partial response and increases in pharmacodynamic markers that Bolt believes are consistent with its proposed mechanism of action. Later this year, Bolt plans to advance to part 3 of the trial, monotherapy Phase 2 dose expansion cohorts, and part 2, BDC-1001 dose escalation in combination with an anti-PD-1 antibody.Strengthened Board of Directors with appointment of Kathleen LaPorte – In January 2021, Kathleen LaPorte joined the Board of Directors as Chair of Bolt’s Audit Committee. Ms. LaPorte has more than 30 years of experience in building and operating private and public biotech companies as former chief executive officer of Nodality Inc. and a founding partner of New Leaf Venture Partners. The addition increased Bolt’s board to eight members.Published data in Nature Cancer highlighting proof of concept for Boltbody ISAC platform to eliminate tumors following systemic administration – In December 2020, Bolt announced the publication of a manuscript in Nature Cancer highlighting the development and use of Boltbody™ ISACs for the treatment of HER2-expressing tumors in preclinical models. The data indicate that Boltbody ISACs activate the innate and adaptive immune systems, ultimately resulting in complete tumor regressions in multiple tumor models and durable anti-tumor immunity. ISAC-mediated immunological memory extended beyond the target antigen as ISAC-treated mice were protected from re-challenge with the parental tumor lacking HER2 expression.Completed an oversubscribed $93.5 million Series C financing with notable crossover investors – In July 2020 and January 2021, the Company raised funding to support BDC-1001 and continued development of the Boltbody ISAC platform and Bolt’s pipeline of immuno-oncology programs. Sofinnova Investments led the investment, which included notable crossover investors RA Capital Management, Surveyor Capital (a Citadel Company), Rock Springs Capital and Samsara BioCapital. Upcoming Events Bolt’s Chief Scientific Officer David Dornan, Ph.D. will present a talk on BDC-1001 as part of “New Drugs on the Horizon: Part 2” at the American Association for Cancer Research (AACR) Virtual Annual Meeting on Saturday, April 10, 2021, from 4:00 PM - 5:45 PM ET.Manish R. Sharma, M.D. of START Midwest, a principal investigator in Bolt’s ongoing BDC-1001 Phase 1/2 trial, will present a trial-in-progress e-poster entitled “CT218 - Phase 1/2 study of a novel HER2 targeting TLR7/8 immune-stimulating antibody conjugate (ISAC), BDC-1001” in the session “PO.CT08.01 - Phase I Clinical Trials in Progress” at AACR on Saturday, April 10, 2021, from 8:30 AM - 11:59 PM ET.Bolt’s CEO, Randall Schatzman, Ph.D., will present a corporate overview at the virtual 20th Annual Needham Virtual Healthcare Conference on Thursday, April 15, 2021 at 10:15 AM ET. Fourth Quarter and Full Year 2020 Financial Results Cash Position – Cash, cash equivalents, and marketable securities were $22.8 million as of December 31, 2020, as compared to $34.8 million as of December 31, 2019. Total cash, cash equivalents, and marketable securities at December 31, 2020 does not include total net proceeds of approximately $293.6 million from Bolt’s C-2 convertible preferred stock offering in January 2021 and its IPO in February 2021. Bolt expects its cash balance to fund operations into 2023, through achievement of key milestone for the BDC-1001 and BDC-2034 programs. Research and Development (R&D) Expenses – R&D expenses were $14.9 million for the quarter and $40.4 million for the full year ended December 31, 2020, compared to $7.4 million and $26.0 million for the same quarter and year in 2019. The increase in R&D spending from 2019 to 2020 is due primarily to the 2020 start of Bolt’s Phase 1/2 clinical trial for BDC-1001, increased manufacturing of BDC-1001 to support the clinical trial and additional hiring. General and Administrative (G&A) Expenses – G&A expenses were $2.1 million for the quarter and $9.1 million for the full year ended December 31, 2020, compared to $2.1 million and $5.2 million for the same quarter and year in 2019. The increase in G&A spending from 2019 to 2020 is due primarily to an increase in accounting and legal fees associated with IPO preparation and additional hiring to support operations as a public company. Loss from Operations – Loss from operations was $16.9 million for the quarter and $49.2 million for the full year ended December 31, 2020 compared to $9.5 million and $31.0 million for the same quarter and year in 2019. About Bolt Biotherapeutics, Inc. Bolt Biotherapeutics, Inc. is a clinical-stage immuno-oncology company developing tumor-targeted therapies that leverage the power of the innate and adaptive immune systems. Bolt’s proprietary Boltbody™ Immune-stimulating Antibody Conjugate (ISAC) approach combines an antibody that targets a tumor antigen with an immune stimulant that triggers an innate and adaptive immune response in the tumor microenvironment. These systemically-delivered Boltbody ISACs are designed to target tumor cells for elimination by myeloid cells, which are then activated and recruit the adaptive immune system in the anti-tumor response. This leads to the conversion of immunologically “cold” tumors to “hot” tumors. Bolt’s lead candidate, BDC-1001, is a Boltbody ISAC comprised of a HER2-targeting biosimilar of trastuzumab conjugated with a non-cleavable linker to one of Bolt’s proprietary TLR7/8 agonists for the treatment of patients with HER2-expressing solid tumors. Bolt is also advancing BDC-2034, a Boltbody ISAC targeting CEA, and a pipeline of other immuno-oncology products. 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 clinical trials, the timing of enrollment for our Phase 1/2 trial for BDC-1001 for the treatment of patients with HER2-expressing solid tumors, the timing of our Phase 2 dose expansion part and the combination with an anti-PD-1 antibody part, the timing that Boltbody ISAC BDC-2034 will enter clinical trials, our ability to fund our clinical programs and the sufficiency of our cash, cash equivalents, and marketable securities, our future results of operations, financial condition, business strategy and plans and objectives of management for future operations, 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,” “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. 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 for the year ended December 31, 2020. 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. BOLT BIOTHERAPEUTICS, INC.STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS(in thousands, except share and per share amounts) For the three months ended For the years ended December 31, December 31, 2020 2019 2020 2019Collaboration Revenue$— $65 $231 $215 Operating expenses: Research and development 14,864 7,435 40,357 26,002 General and administrative 2,058 2,137 9,056 5,182 Total operating expense 16,922 9,572 49,413 31,184 Loss from operations (16,922) (9,507) (49,182) (30,969)Other income (expense), net Interest income, net 12 145 199 524 Change in fair value of preferred stock right liability (14,125) — (11,745) (42)Total other income (expense), net (14,113) 145 (11,546) 482 Net loss and comprehensive loss$(31,035) $(9,362) $(60,728) $(30,487)Net loss per share, basic and diluted$(14.58) $(4.55) $(28.89) $(15.29)Weighted-average shares outstanding, basic and diluted 2,129,133 2,056,459 2,102,328 1,993,477 BOLT BIOTHERAPEUTICS, INC.BALANCE SHEETS(in thousands, except share and per share amounts) December 31, 2020 2019Assets Current assets: Cash and cash equivalents$5,542 $34,826 Short-term investments 17,296 — Prepaid and other current assets 2,523 1,074 Total current assets 25,361 35,900 Property and equipment, net 4,083 1,387 Operating lease right-of-use asset 12,267 10,079 Finance lease right-of-use asset 34 51 Restricted cash 1,565 584 Deferred offering costs 2,357 — Other assets 875 446 Total assets$46,542 $48,447 Liabilities, Convertible Preferred Stock and Stockholders’ Equity (Deficit) Current liabilities: Accounts payable$1,598 $2,095 Accrued expenses and other current liabilities 6,663 2,866 Deferred revenue 1,502 599 Operating lease liabilities 1,501 3,096 Total current liabilities 11,264 8,656 Operating lease liabilities, net of current portion 9,376 7,089 Deferred revenue — 972 Convertible preferred stock purchase right liability, non-current 25,224 — Other Long-term liabilities 329 71 Total liabilities 46,193 16,788 Convertible preferred stock 105,296 77,505 Stockholders’ equity (deficit) Common stock — — Additional paid-in capital 3,452 1,825 Accumulated deficit (108,399) (47,671) Total stockholders’ equity (deficit) (104,947) (45,846)Total liabilities. convertible preferred stock and stockholders’ equity (deficit)$46,542 $48,447 BOLT BIOTHERAPEUTICS, INC.STATEMENTS OF CASH FLOWS(in thousands) Years Ended December 31, 2020 2019Cash flows from operating activities Net loss$(60,728) $(30,487)Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 611 335 Stock-based compensation 1,420 508 Accretion of premium/discount on short-term investments 34 — Change in fair value of convertible preferred stock purchase right liabilities 11,745 42 Non-cash lease expense 1,893 994 Changes in operating assets and liabilities: Prepaid expenses and other assets (1,878) (620)Accounts payable and accrued expenses 2,882 2,121 Operating lease liabilities (3,389) (823)Deferred revenue (69) 1,571 Other long-term liabilities 171 16 Net cash used in operating activities (47,308) (26,343)Cash flows from investing activities Purchase of property and equipment (3,262) (508)Purchases of short-term investments (33,229) — Maturities of short-term investments 15,899 — Net cash used in investing activities (20,592) (508)Cash flows from financing activities Repayments of financing lease obligations — (40)Proceeds from issuance of convertible preferred stock, purchase rights and warrants, net of issuance costs 41,270 48,595 Payments of deferred offering costs (1,967) — Proceeds from issuance of common stock and warrants 294 72 Net cash provided by financing activities 39,597 48,627 Net (decrease) increase in cash, cash equivalents and restricted cash (28,303) 21,776 Cash, cash equivalents and restricted cash at beginning of year 35,410 13,634 Cash, cash equivalents and restricted cash at end of year$7,107 $35,410 Reconciliation of cash, cash equivalents and restricted cash: Cash and cash equivalents$5,542 $34,826 Restricted cash 1,565 584 Total cash, cash equivalents and restricted cash$7,107 $35,410 Media Contacts: Maggie Beller or David SchullRusso Partners, LLC646-942-5631maggie.beller@russopartnersllc.comdavid.schull@russopartnersllc.com Investor Relations Contact: Sarah McCabeStern Investor Relations, Inc.212-362-1200sarah.mccabe@sternir.com