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Bolt Biotherapeutics Inc. (BOLT+9.40%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing outlines the company's financial performance, showing a net loss of $63.1 million for 2024, compared to a net loss of $69.2 million in 2023. The decrease in net loss is attributed to lower operating expenses.
Research and development expenses decreased to $57.5 million in 2024 from $61.5 million in 2023, primarily due to reduced personnel-related expenses following a workforce reduction.
General and administrative expenses also declined to $18.5 million from $22.5 million, reflecting lower salary and professional services costs.
Bolt recorded restructuring charges of $3.3 million in 2024, related to severance costs and stock-based compensation from a strategic pipeline prioritization and restructuring plan.
The company reported collaboration revenue of $7.7 million, slightly down from $7.9 million in 2023, due to changes in collaboration agreements.
Bolt's cash, cash equivalents, and marketable securities totaled $70.2 million as of December 31, 2024, which the company believes will fund operations through mid-2026, though substantial doubt about its ability to continue as a going concern remains.
The filing details Bolt's ongoing clinical programs, including the development of BDC-3042 and BDC-4182, and highlights its collaborations with Genmab and Innovent.
Bolt acknowledges the impact of macroeconomic factors such as inflation and geopolitical tensions on its operations and supply chain.
The company continues to focus on advancing its pipeline and exploring potential partnerships or financing options to support its operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Bolt Biotherapeutics Inc. annual 10-K report dated March 24, 2025. To report an error, please email earnings@qz.com.