Business
Bolt Biotherapeutics Reports Second Quarter 2023 Financial Results and Provides Business Update
First patients dosed in the BDC-1001 Phase 2 programBDC-1001 Phase 1 data presented at ASCO 2023 demonstrated favorable safety profile and encouraging
About this update from Bolt Biotherapeutics, Inc.
[{"type":"text","content":"First patients dosed in the BDC-1001 Phase 2 programBDC-1001 Phase 1 data presented at ASCO 2023 demonstrated favorable safety profile and encouraging efficacy as a monotherapy and in combination with nivolumab in HER2-expressing tumorsBDC-3042 received IND clearance; clinical trial expected to start before year-end Cash balance of $157.1 million anticipated to fund key milestones through 2025 REDWOOD CITY, Calif., Aug. 07, 2023 (GLOBE NEWSWIRE) -- Bolt Biotherapeutics, Inc. (Nasdaq: BOLT), a clinical-stage biopharmaceutical company developing novel immunotherapies for the treatment of cancer, today reported financial results for the second quarter ended June 30, 2023 and provided an update on the continued advancement of its clinical programs. “We have extended our leadership position in immunotherapy as the first company to initiate a Phase 2 program for an ISAC,” said Randall Schatzman, Ph.D., Chief Executive Officer. “The FDA has also cleared the IND for BDC-3042, the first and only program targeting Dectin-2 with an agonist antibody. This is our second successful IND and we expect to begin this first-in-human clinical trial later this year. We presented positive data at ASCO and look forward to presenting more data at ESMO and other upcoming major medical meetings. Our team is highly motivated by all of this positive momentum and the opportunities for us to make a difference for cancer patients.” “The data in the Phase 1 dose-escalation trial of BDC-1001 included durable objective clinical responses and a favorable safety profile. Importantly, these data provide clinical validation of our Boltbody™ ISAC approach, which has the potential to deliver a novel mechanism for the treatment of HER2-positive cancers and shows promise for patients who are resistant to current therapies on the market.” Recent Highlights and Anticipated Milestones Comprehensive safety and efficacy data from the BDC-1001 Phase 1 dose-escalation study presented at the American Society of Oncology (ASCO) Annual Meeting in June 2023 by Bob T. Li, M.D., Ph.D., MPH, medical oncologist and principal investigator at Memorial Sloan Kettering Cancer Center (MSK). BDC-1001 achieved a 29% objective response rate in evaluable patients with HER2-positive tumors, both as monotherapy and in combination with nivolumab at the recommended Phase 2 dose (RP2D). The percent...