Bolt Biotherapeutics Announces 2024 Financial Performance and Strategic Progress

Bolt Biotherapeutics Reports Fourth Quarter and Full Year 2024 Financial Results and Provides Business Update

March 24, 2025 – WALTHAM, Mass.--(BUSINESS WIRE)--Bolt Biotherapeutics, a clinical-stage biotechnology company developing a novel class of targeted immunotherapy products, today reported its financial results for the fourth quarter and full year 2024 and provided a business update.

Financial Results:

For the fourth quarter 2024, Bolt reported a net loss of $24.3 million, or $0.44 per share, compared to a net loss of $21.5 million, or $0.41 per share, for the same period in 2023. For the full year 2024, the company reported a net loss of $94.4 million, or $1.73 per share, compared to a net loss of $83.4 million, or $1.55 per share, for the full year 2023.

Research and development expenses for the fourth quarter 2024 were $19.3 million, compared to $16.9 million for the same period in 2023. For the full year 2024, research and development expenses were $73.5 million, compared to $65.3 million for the full year 2023.

General and administrative expenses for the fourth quarter 2024 were $5.0 million, compared to $4.6 million for the same period in 2023. For the full year 2024, general and administrative expenses were $20.9 million, compared to $18.1 million for the full year 2023.

Business Update:

Bolt is advancing its lead product candidate, BTC-601, in a Phase 1 clinical trial in patients with advanced solid tumors. The company expects to report interim data from the trial in the second half of 2025.

In addition, Bolt is developing a pipeline of next-generation products that leverage its proprietary Bolt-Tek platform. The company expects to initiate clinical trials for several of these products in the coming months.

"We are pleased with the progress we have made in 2024, and we are excited about the opportunities ahead of us," said Dr. Gaurov Pessow, CEO of Bolt Biotherapeutics. "We believe that our proprietary Bolt-Tek platform and our lead product candidate, BTC-601, have the potential to make a significant impact in the treatment of cancer and other serious diseases."