Bolt Biotherapeutics, Inc.
boltbio.comWhat Do They Do?
Develops immune-stimulating cancer drug candidates for patients, including a claudin-targeting candidate for gastric and gastroesophageal cancers.
10-K for FY2025, filed Mar 12, 2026Our mission is to harness the power of the immune system to improve lives and eradicate cancer. This often means that our product…View ↗
BDC-4182 is a next-generation Boltbody™ ISAC that targets the tumor-associated antigen claudin 18.2. Claudin 18.2 is a clinically validated…View ↗
We are currently focused on the clinical development of BDC-4182, our claudin 18.2 ISAC, while the rest of our pipeline programs are on…View ↗
How Do They Make Money?
Drug-development partners pay upfront, fund research, and reimburse costs as Bolt carries out research and development services; those service payments arrive over the course of the work.
10-K for FY2025, filed Mar 12, 2026To date, our only revenue has been collaboration revenue derived from our collaborations with Toray, Genmab, and Innovent. Collaboration…View ↗
Under these collaborations, we provide research, development, and related services in support of the discovery and early-stage development…View ↗
In May 2021, we entered into a License and Collaboration Agreement with Genmab A/S to evaluate Genmab antibodies in combination with our…View ↗
$7.7M
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10-K for FY2025, filed Mar 12, 2026
$7.7M ↗
Who Are Their Customers?
Drug-development partners work directly with Bolt on oncology research: Genmab funds research and early development, while Toray and Innovent bring antibody-related technology and expertise to collaborative programs.
10-K for FY2025, filed Mar 12, 2026In March 2019, we entered into a Joint Development and License Agreement with Toray Industries to develop and commercialize a Boltbody ISAC…View ↗
In May 2021, we entered into a License and Collaboration Agreement with Genmab A/S to evaluate Genmab antibodies in combination with our…View ↗
In August 2021, we entered into a License and Collaboration Agreement with Innovent Biologics to leverage Innovent’s proprietary…View ↗
Do Revenues Turn Into Profits?
No. It lost $33.4M in FY2025.
10-K for FY2025, filed Mar 12, 2026
−$36.1MView ↗
10-K for FY2025, filed Mar 12, 2026
−$33.4MView ↗
10-K for FY2025, filed Mar 12, 2026
−$39.9MView ↗
How Are They Changing?
Growing. Revenue grew 6.1x in 4 years, from $1.3M in FY2021 to $7.7M in FY2025, about 57% a year.
A new clinical focus
The former lead immune-stimulating antibody conjugate program has been discontinued. The latest report centers clinical development on a different tumor-targeting conjugate, with the other pipeline programs on hold.
10-K for FY2022, filed Mar 29, 2023 10-K for FY2025, filed Mar 12, 2026
Who Do They Compete With?
Competes with Pfizer, Day One Biopharmaceuticals, and Eikon Therapeutics
10-K for FY2025, filed Mar 12, 2026Companies developing ISACs or TLR agonists could also be long-term competitors for our Boltbody ISAC platform technology. To the best of…View ↗
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