Bolt Biotherapeutics, Inc. · NASDAQ:BOLT
Bolt Biotherapeutics — Investor Presentation (August 2026)
24 slides from Bolt Biotherapeutics's investor presentation, August 2026
Slide 1: Harnessing the power of the immune system to improve lives and eradicate cancer
Harnessing the power of the immune system to improve lives and eradicate cancer Nasdaq: BOLT August 2026
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this presentation, including statements regarding Bolt Biotherapeutics, Inc. (the "Company," "we," "us," or "our")'
Slide 3: BOLT is Pioneering a New Approach to Cancer Treatment
BOLT is Pioneering a New Approach to Cancer Treatment BDC-4182 will provide proof-of-concept for the ISAC approach BDC-4182 (claudin 18.2 ISAC) Phase 1/2 clinical trial ongoing • First-in-class, best-in-class Immune Stimulating Antibody Conjugate (ISAC) • Initial clinical data from >10 patients will
Slide 4: Boltbody ISACs Could Be the Next Wave After ADCs
Boltbody ISACs Could Be the Next Wave After ADCs US ADC Sales Are >$14B, Payload Resistance Restricts Retreatment ADCs Have Driven >$100 Billion in M&A Product Target Launch Payload Mylotarg CD33 2000 ENED Company Payload Upfront ($B) Year Adcetris CD30 2011 MTI Seagen MTI 43.0 2023 Kadcyla HER2 201
Slide 5: Pioneering a New Class of Immuno-oncology Products: ISACs
Pioneering a New Class of Immuno-oncology Products: Immune-stimulating Antibody Conjugates (ISACs) Boltbody ISAC Tumor-targeting Antibody • Geo-locates ISAC to antigen on surface of a tumor cell Immune-stimulating • Active Fc region drives Linker-payload antibody-dependent cellular phagocytosis (ADC
Slide 6: Boltbody ISAC Mechanism of Action
Boltbody ISAC Mechanism of Action Broad activation of the immune system to enable durable responses and bystander killing of antigen-negative tumors 1 Binds tumor antigen 2 Phagocytosis of tumor 3 Immune activation 4 Triggers killing by T cells Antigen recognition by T cells Myeloid antigen presenti
Slide 7: Boltbody ISAC Approach Improves on ADCs and TCEs
Boltbody ISAC Approach Improves on ADCs and TCEs Durability Bystander Immune Activation Killing Mechanism Resistance T cells + Boltbody ISACs High High High - Phagocytes Low antigen Naked mAbs Low/Med - Low ADCC & CDC expression Exhaustion & T cell Engagers Med Low/Med Med T cells Exclusion Efflux &
Slide 8: BDC-4182: Claudin 18.2 Boltbody ISAC Program
BDC-4182: Claudin 18.2 Boltbody ISAC Program Phase 1/2 clinical trial ongoing, initial results expected with 3Q26 financial results BDC-4182 BDC-4182 Opportunity • Phase 1/2 clinical trial ongoing for best-in-class claudin 18.2 ISAC • Claudin 18.2 is a clinically validated target in gastric cancer •
Slide 9: BDC-4182 Phase 1/2 Clinical Trial in 2L+ Gastric or Gastroesophageal Cancer
BDC-4182 Phase 1/2 Clinical Trial in 2L+ Gastric or Gastroesophageal Cancer Dose Escalation with Cycle 1 Step-Up Dosing Introduced for Step-Up Dosing • Open for enrollment in All Patients Australia, South Korea, and Taiwan (NCT06921837) Cohorts 5 to 7 • CLDN18.2 IHC 2+ ≥ 1% 4 mg/kg 2 mg/kg • Current
Slide 10: Gastric Cancer Opportunity
Gastric Cancer Opportunity a
Slide 11: Gastric Cancer is Common and Difficult to Treat
Gastric Cancer is Common and Difficult to Treat Gastric cancer is the 5th most common malignancy worldwide, with one million new cases annually1 • More than 30,000 new cases and 10,000 deaths per year In the US 1,2 More than 50% of patients have advanced, incurable disease upon diagnosis3,4 • Gastri
Slide 12: Patients with Metastatic/Unresectable Gastric Cancer have Few Options
Patients with Metastatic/Unresectable Gastric Cancer have Few Options Average progression-free survival in 2L setting is 2-7 months 1L Setting 2L Setting 3L Setting Cytotoxic Chemotherapy Efficacy Two drug cytotoxic regimens preferred due OS ~ 12 mo. PD-L1- & CLDN18.2- to lower toxicity: PFS ~ 7 mo.
Slide 13: Claudin 18.2: Validated Target with Opportunity to Improve on Zolbetuximab
Claudin 18.2: Validated Target with Opportunity to Improve on Zolbetuximab BDC-4182 has potential to improve depth and duration of response in large market CLDN18.2 Highly Expressed in Zolbetuximab Large Near-term Gastric Cancer Validates the Target Market Opportunity Tumor Type Prevalence Zolbe + C
Slide 14: BDC-4182 Has the Potential to Double Current Claudin 18.2 Market
BDC-4182 Has the Potential to Double Current Claudin 18.2 Market BDC-4182 has the potential to expand the market AND to outperform other claudin 18.2-directed therapies in tumors with lower antigen expression Vyloy® (zolbetuximab) is approved for use in tumors with >75% IHC2+, ~40% of the market 14
Slide 15: BDC-4182 Preclinical Data
BDC-4182 Preclinical Data a
Slide 16: BDC-4182 First-in-Class ISAC
BDC-4182 First-in-Class ISAC Solid preclinical foundation supported by 10+ years of innovation and learnings BDC-4182 Powerful on-target immune activation • Immune activation correlates with antigen density in tumor-bearing mice • Limited activity in tumor-naïve mice and non-human primates Eradicate
Slide 17: Immune Activation in the Periphery is on Target and Tumor-Dependent
Immune Activation in the Periphery is on Target and Tumor-Dependent Limited activity observed with BDC-4182.S in tumor-naïve mice 17 C57BL/6 mice bearing KPC-mCLDN18.2 tumors were treated via IP injection with the indicated test articles at 1 mg/kg. Plasma cytokines and chemokines were measured 4 ho
Slide 18: BDC-4182 Targets Ultra-low Claudin 18.2 Tumors
BDC-4182 Targets Ultra-low Claudin 18.2 Tumors BDC-4182.S eradicates low-antigen tumors in preclinical xenograft models NUGC4-hCLDN18.2 (IHC 2+ ≥ 25%) NCI-N87-hCLDN18.2 (IHC 2+ ≥ 1%) PA-TU-8988S (IHC 2+ ≥ 1%) 1200 300 300 Tumor Volume (mm3) Tumor Volume (mm3) Tumor Volume (mm3) 800 200 200 400 100 1
Slide 19: BDC-4182 Has Curative Potential
BDC-4182 Has Curative Potential BDC-4182.S induces immunological memory & epitope spreading; T cells kill tumors that lack CLDN18.2 Eliminates Ultra-low Antigen-positive Tumors Expands to Antigen-negative Tumors MC38-CLDN18.2 (IHC 2+ ≥ 1%) Parental MC38 line (no CLDN18.2) Adapted from Fu CL et al. S
Slide 20: BDC-4182 Has Potential for Superior Anti-tumor Activity versus ADCs
BDC-4182 Has Potential for Superior Anti-tumor Activity versus ADCs BDC-4182.S outperforms cytotoxic ADCs in syngeneic model at ultra-low antigen density Superior to MMAE ADC Superior to TOPO1 (DXd) ADC Limited ADC Efficacy in MC38 Ultra-low Model (IHC 2+ ≥ 1%) Limited ADC Efficacy in MC38 Ultra-low
Slide 21: Summary
Summary a
Slide 22: Next-generation ISACs are Dramatically Better than First-generation ISACs
Next-generation ISACs are Dramatically Better than First-generation ISACs Across multiple tumor antigens with varying expression levels HER2 HER2 TROP2 CEA HCC1954 Model >500K JIMT-1 Model ~50K Molecules/Cell HPAF-II Model ≥60K Molecules/Cell JIMT-1 Model ~25K Molecules/Cell Molecules/Cell Not Shown
Slide 23: Harnessing the Immune System to Improve Lives and Eradicate Cancer
Harnessing the Immune System to Improve Lives and Eradicate Cancer BDC-4182 will provide proof-of-principal for the ISAC approach BDC-4182 (claudin 18.2 ISAC) Phase 1/2 clinical trial ongoing • First-in-class, best-in-class Immune Stimulating Antibody Conjugate (ISAC) • Initial clinical data from >1
Slide 24: Thank you
Thank you a
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