$BOLT
Bolt Biotherapeutics, Inc.

2021 Q1 Form 10-Q Financial Statement

#000156459021027545 Filed on May 13, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $0.00 $164.0K
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.300M $2.120M
YoY Change 102.83%
% of Gross Profit
Research & Development $14.13M $6.787M
YoY Change 108.15%
% of Gross Profit
Depreciation & Amortization $272.0K $101.0K
YoY Change 169.31%
% of Gross Profit
Operating Expenses $18.43M $8.909M
YoY Change 106.82%
Operating Profit -$18.43M -$8.745M
YoY Change 110.7%
Interest Expense $60.00K $110.0K
YoY Change -45.45%
% of Operating Profit
Other Income/Expense, Net -$6.028M $112.0K
YoY Change -5482.14%
Pretax Income -$24.45M -$8.630M
YoY Change 183.31%
Income Tax
% Of Pretax Income
Net Earnings -$24.45M -$8.633M
YoY Change 183.26%
Net Earnings / Revenue -5264.02%
Basic Earnings Per Share
Diluted Earnings Per Share -$1.137M -$0.25
COMMON SHARES
Basic Shares Outstanding 21.51M 1.934M
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $266.7M
YoY Change
Cash & Equivalents $95.48M $11.61M
Short-Term Investments $171.2M
Other Short-Term Assets $4.500M
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $271.2M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $3.910M
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $36.20M
YoY Change
Other Assets $208.0K
YoY Change
Total Long-Term Assets $53.43M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $271.2M
Total Long-Term Assets $53.43M
Total Assets $324.6M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.888M
YoY Change
Accrued Expenses $7.600M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $12.01M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $321.0K
YoY Change
Total Long-Term Liabilities $321.0K
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $12.01M
Total Long-Term Liabilities $321.0K
Total Liabilities $21.39M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$132.9M
YoY Change
Common Stock $436.2M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $303.2M -$54.23M
YoY Change
Total Liabilities & Shareholders Equity $324.6M
YoY Change

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$24.45M -$8.633M
YoY Change 183.26%
Depreciation, Depletion And Amortization $272.0K $101.0K
YoY Change 169.31%
Cash From Operating Activities -$16.56M -$9.638M
YoY Change 71.81%
INVESTING ACTIVITIES
Capital Expenditures $58.00K $373.0K
YoY Change -84.45%
Acquisitions
YoY Change
Other Investing Activities -$190.5M -$13.24M
YoY Change 1338.52%
Cash From Investing Activities -$190.5M -$13.61M
YoY Change 1300.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $129.0K $34.00K
YoY Change 279.41%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 297.0M 34.00K
YoY Change 873485.29%
NET CHANGE
Cash From Operating Activities -16.56M -9.638M
Cash From Investing Activities -190.5M -13.61M
Cash From Financing Activities 297.0M 34.00K
Net Change In Cash 89.94M -23.21M
YoY Change -487.47%
FREE CASH FLOW
Cash From Operating Activities -$16.56M -$9.638M
Capital Expenditures $58.00K $373.0K
Free Cash Flow -$16.62M -$10.01M
YoY Change 65.99%

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CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="margin-bottom:0pt;margin-top:18pt;margin-left:4.53%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to revenue recognition, the valuation of common stock, stock-based compensation, convertible preferred stock purchase right liabilities and accrued liabilities. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ materially from those estimates. </p>
CY2021Q1 bolt Deferred Offering Costs To Offset Against Proceeds From Ipo
DeferredOfferingCostsToOffsetAgainstProceedsFromIPO
4000000.0
CY2020Q4 bolt Deferred Offering Costs Noncurrent
DeferredOfferingCostsNoncurrent
2400000
CY2021Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-bottom:0pt;margin-top:18pt;margin-left:4.53%;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Concentrations of Credit Risk </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Financial instruments that potentially subject the Company to concentration of credit risk consist of cash, cash equivalents and marketable securities. At March 31, 2021 and December 31, 2020, most of the Company’s funds are invested with a registered investment manager and custodied at one financial institution, with working capital kept at a separate financial institution, and account balances may at times exceed federally insured limits. Management believes that the Company is not exposed to significant credit risk due to the financial strength of the depository institutions where the funds are held. </p>
CY2021Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1600000
CY2020Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1600000
CY2021Q1 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2020Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2021Q1 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2020Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2021Q1 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2020Q4 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2021Q1 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
CY2020Q4 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2020 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersIntoLevel3
0
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2020 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersOutOfLevel3
0
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
CY2020 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Into Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersIntoLevel3
0
CY2021Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
CY2020 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Liability Transfers Out Of Level3
FairValueMeasurementWithUnobservableInputsReconciliationLiabilityTransfersOutOfLevel3
0
CY2021Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
207487000
CY2021Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1000
CY2021Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
64000
CY2021Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
207424000
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
17296000
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1000
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1000
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
17296000
CY2021Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5417000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5322000
CY2021Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1507000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1239000
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3910000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4083000
CY2021Q1 us-gaap Depreciation
Depreciation
300000
CY2020Q1 us-gaap Depreciation
Depreciation
100000
CY2021Q1 bolt Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
3522000
CY2020Q4 bolt Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
3199000
CY2021Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1658000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2885000
CY2021Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
814000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
579000
CY2021Q1 bolt Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
5994000
CY2020Q4 bolt Accrued Expenses And Other Current Liabilities
AccruedExpensesAndOtherCurrentLiabilities
6663000
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y2M12D
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.096
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y3M18D
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.095
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
664000
CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
593000
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
172000
CY2020Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1390000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1867000
CY2021Q1 bolt Lessee Operating Sublease Income Receivable Remainder Of Fiscal Year
LesseeOperatingSubleaseIncomeReceivableRemainderOfFiscalYear
409000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2701000
CY2021Q1 bolt Lessee Operating Sublease Income Due Next Twelve Months
LesseeOperatingSubleaseIncomeDueNextTwelveMonths
362000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2239000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2317000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1685000
CY2021Q1 bolt Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
4254000
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
10684000
CY2021Q1 us-gaap Sublease Income
SubleaseIncome
771000
CY2018Q3 bolt Number Of Warrants Issued To Purchase Common Stock
NumberOfWarrantsIssuedToPurchaseCommonStock
249218
CY2018Q3 us-gaap Warrants And Rights Outstanding Maturity Date
WarrantsAndRightsOutstandingMaturityDate
2028-07-26
CY2018Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.07
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2109000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
225000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-24454000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-8633000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
21507171
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1933639
CY2021Q1 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
44952
CY2020Q1 us-gaap Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
28589
CY2021Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
36087
CY2020Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
172315
CY2021Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
21498306
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2077365
CY2021Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-1.14
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-4.16
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5046340
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12094040

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