Business
Bolt Biotherapeutics Reports Second Quarter 2022 Financial Results and Provides Business Update
– BDC-1001 monotherapy and combination dose-escalation portion of the trial in HER2-expressing solid tumors on track to complete this year– New portfolio
About this update from Bolt Biotherapeutics, Inc.
[{"type":"text","content":"– BDC-1001 monotherapy and combination dose-escalation portion of the trial in HER2-expressing solid tumors on track to complete this year– New portfolio prioritization and capital allocation strategy extends expected cash runway by an additional two years– Cash balance of $223.6 million anticipated to fund key milestones through 2025 REDWOOD CITY, Calif., Aug. 10, 2022 (GLOBE NEWSWIRE) -- Bolt Biotherapeutics, Inc. (Nasdaq: BOLT), a clinical-stage biopharmaceutical company developing novel immuno-oncology therapeutics for the treatment of cancer, today reported financial results for the second quarter ended June 30, 2022 and provided a business update. “The second quarter was one of continued progress, highlighted by steady clinical enrollment in our BDC-1001 monotherapy and combination dose-escalation studies. While we are fortunate to be operating from a position of financial strength, we have implemented a pipeline prioritization and new capital allocation initiative focused on advancing BDC-1001 and BDC-3042, two drug candidates that we believe have high potential to benefit patients,” said Randall C. Schatzman, Ph.D., Chief Executive Officer of Bolt Biotherapeutics. “We are winding down spending on BDC-2034, pausing other early-stage research programs, and prioritizing ISAC programs that bring forward the latest generation of our ISAC technology – including our collaboration programs. The combination of these strategic initiatives extends our expected cash runway an additional two years through 2025.” Dr. Schatzman continued, “We have a lot to look forward to with strong investigator and collaborator interest in our programs, data readouts from the BDC-1001 monotherapy and combination dose-escalation studies on the horizon as well as the advancement of BDC-3042 through IND-enabling activities.” Recent Business Highlights and Anticipated Milestones Clinical data and recommended Phase 2 dose (RP2D) expected in the second half of 2022 from BDC-1001 monotherapy and combination dose-escalation study – Weekly dosing is well underway in the Phase 1/2 multi-dose, multi-center study of BDC-1001, a HER2-targeting Boltbody™ immune-stimulating antibody conjugate (ISAC), in monotherapy and in combination with Bristol Myers Squibb’s PD-1 checkpoint inhibitor Opdivo® (nivolumab). To date, BDC-1001 has demonstrated a favorable safety prof...