8-K
filed May 14, 2024, 7:59 PM ET
ticker BOLT
CIK 0001641281
other material
confidence high
sentiment negative
materiality 0.80
Bolt Biotherapeutics restructures, cuts 50% workforce, CEO replaced; Q1 loss $17.1M
Bolt Biotherapeutics, Inc.
- Q1 2024: loss from ops $17.1M; collaboration revenue $5.3M; cash $112.8M.
- Discontinuing trastuzumab imbotolimod (BDC-1001); focusing on BDC-3042 and next-gen ISAC BDC-4182 targeting Claudin 18.2.
- Reducing workforce by ~50% (50 employees); estimated pre-tax charges $3-4M for severance and related costs.
- CEO Randall Schatzman steps down; CFO Willie Quinn appointed President & CEO; CMO Edith Perez also departs; new COO Grant Yonehiro named.
- Cash runway extended into H2 2026, funding completion of BDC-3042 Phase 1 and clinical data for BDC-4182.
Machine-readable event card
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- company_name
- Bolt Biotherapeutics, Inc.
- filed_at
- 2024-05-14T23:59:59+00:00
- discovered_at
- 2026-05-14T18:03:19.381737+00:00
- generated_at
- 2026-06-02T00:53:47.775957+00:00
- sec_items
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- event_type
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- sentiment
- negative
- materiality_score
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- calibrated_materiality_score
- 0.8
- confidence
- high
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- https://secwatch.observer/filing/0000950170-24-059524
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- edgar_index_url
- https://www.sec.gov/Archives/edgar/data/1641281/000095017024059524/0000950170-24-059524-index.htm
- edgar_primary_document_url
- https://www.sec.gov/Archives/edgar/data/1641281/000095017024059524/bolt-20240513.htm
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Source-grounded claims
5de8edb33bcc8470a2dd892f682c8e1d8ed4c5d1
Bolt Biotherapeutics, Inc. reported financial results for first quarter ended March 31, 2024.
On May 14, 2024, Bolt Biotherapeutics, Inc. (the “Company”) issued a press release announcing its financial results for the first quarter ended March 31, 2024 and a corporate update.
SEC 8-K Item 2.02
confidence 0.95
SEC evidence
0221e0c505
Edgar G. Engleman resigned as Member of the Board of Directors at Bolt Biotherapeutics, Inc..
On May 13, 2024, Edgar G. Engleman, M.D. notified the Company of his resignation as a member of the Company's Board of Directors (the “Board”) and from all committees of the Board on which he served, effective as of May 15, 2024.
SEC 8-K Item 5.02
confidence 0.95
SEC evidence
2701666c02
Edith A. Perez departed as Chief Medical Officer at Bolt Biotherapeutics, Inc..
Edith A. Perez, M.D. is stepping down as the Company’s Chief Medical Officer of the Company, effective as of May 15, 2024.
SEC 8-K Item 5.02
confidence 0.95
SEC evidence
be8ef67a49
Randall C. Schatzman resigned as Member of the Board of Directors at Bolt Biotherapeutics, Inc..
Randall C. Schatzman, Ph.D. is stepping down as the Company’s Chief Executive Officer and has resigned as a member of the Board, both effective as of May 15, 2024.
SEC 8-K Item 5.02
confidence 0.95
SEC evidence
cc31173edb
Randall C. Schatzman departed as Chief Executive Officer at Bolt Biotherapeutics, Inc..
Randall C. Schatzman, Ph.D. is stepping down as the Company’s Chief Executive Officer and has resigned as a member of the Board, both effective as of May 15, 2024.
SEC 8-K Item 5.02
confidence 0.95
SEC evidence
cf0d274f2943d6630c0e8a9a400b88e46a44cc87
Bolt Biotherapeutics, Inc. announced a restructuring with charges of $3.0 million to $4.0 million affecting Bolt Biotherapeutics (approximately 50 employees, or approximately 50% of the Company's workforce).
On May 14, 2024, the Company announced a strategic pipeline prioritization and restructuring plan pursuant to which it will discontinue developing trastuzumab imbotolimod, formerly known as BDC-1001, in order to focus on the Company’s next generation ISAC platform including new clinical candidate, BDC-4182, targeting Claudin 18.2, and Phase 1 asset, BDC-3042, a Dectin-2 agonist antibody, and reduce overall operating expenses to preserve cash. The restructuring plan includes a reduction of the Company’s current workforce by approximately 50 employees, or approximately 50% of the Company’s workforce. The Company estimates that it will incur aggregate pre-tax charges between approximately $3.0 million to $4.0 million in connection with the reduction-in-force, primarily consisting of severance payments, employee benefits, and related costs.
SEC 8-K Item 2.05/2.06
confidence 0.9
SEC evidence
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