secwatch.observer — SEC 8-K summary
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Issuer:     Bolt Biotherapeutics, Inc. (BOLT)
CIK:        0001641281
Form:       8-K
Filed at:   2024-05-14T23:59:59+00:00
Accession:  0000950170-24-059524
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 2.05, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bolt Biotherapeutics restructures, cuts 50% workforce, CEO replaced; Q1 loss $17.1M
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1641281/000095017024059524/0000950170-24-059524-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1641281/000095017024059524/bolt-20240513.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-059524

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer