Bolt Biotherapeutics Q4 loss narrows as expenses fall

Overview

• US cancer immunotherapy developer's Q4 collaboration revenue rose to $2.5 mln from zero a year ago

• Net loss for Q4 narrowed year-over-year due to lower R&D and G&A expenses

• Company ended 2025 with $31.8 mln in cash, expected to fund operations into 2027

Outlook

• Cash balance of $31.8 mln expected to fund milestones and operations into 2027

Result Drivers

• LOWER R&D AND G&A EXPENSES - Co said Q4 expenses declined mainly due to restructuring, reduced clinical trial activity and lower salary costs

• COLLABORATION REVENUE - Q4 revenue resulted from continued progress in fulfilling performance obligations to collaboration partners

• R&D expenses were $5.0 million for the fourth quarter, compared to $11.7 million for the same quarter in 2024

• Cash, cash equivalents, and marketable securities were $31.8 million as of December 31, 2025

Company press release: ID:nGNX22dkHp

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy."

• Wall Street's median 12-month price target for Bolt Biotherapeutics Inc is $13.50, about 226.9% above its March 11 closing price of $4.13

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