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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Bolt Biotherapeutics
Bolt Biotherapeutics (BOLT) investor relations material
Bolt Biotherapeutics Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary12 Nov, 2026
Executive summary
October acquisition of Prana Therapies and $120 million private placement shifted development focus to PRA-216 and the INSPIRE multispecific pipeline.
PRA-216 is in Phase 2 across asthma, COPD and atopic dermatitis; a fourth study in eosinophilic esophagitis is planned.
Financial highlights
Q3 2026 collaboration revenue was $0, versus $2.2 million in Q3 2025; 9M revenue was $31,000, versus $5.2 million in 9M 2025.
Q3 R&D expense was $2.2 million versus $6.5 million YoY; G&A was $2.5 million versus $3.3 million, with decreases attributed largely to restructuring and lower activity/personnel costs.
Q3 operating loss was $4.7 million versus $7.7 million YoY; net loss was $4.4 million versus $7.1 million.
9M 2026 operating loss was $20.7 million and net loss was $19.5 million, versus $29.0 million and $26.7 million, respectively, in 9M 2025.
Outlook and guidance
$120 million gross proceeds from the October private placement are expected to fund operations into 2028 and through multiple clinical and preclinical milestones.
Initial PRA-216 Phase 2 data are expected in 2Q 2027; proof-of-concept data across four studies are expected to begin in 2Q 2027.
A second wholly owned INSPIRE program is expected to enter clinical testing and generate initial data in 2H 2027.
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Latest events from Bolt Biotherapeutics
- Reverse merger adds INSPIRE and funds PRA-216’s 2027 readouts with $120 million upfront.BOLT
M&A announcement - BDC-4182 trial advances as cash runway extends into Q1 2027 amid ongoing losses and capital needs.BOLTQ2 2026
- Net loss narrowed as BDC-4182 advances, but cash runway is limited and capital needs are urgent.BOLTQ1 2026
- Virtual meeting to elect directors and ratify auditor, with Board recommending all proposals.BOLTProxy filing
- Stockholders will vote on director elections and auditor ratification at a virtual annual meeting.BOLTProxy filing
- BDC-4182 Phase 1 progresses, losses narrow, and cash runway extends into 2027.BOLTQ4 2025
- Key votes include director elections, auditor ratification, and a reverse stock split for Nasdaq compliance.BOLTProxy Filing
- Next-gen immunotherapies advance toward key clinical milestones, backed by strong financials.BOLTH.C. Wainwright 26th Annual Global Investment Conference 2024
- Next-gen ISACs advance toward key clinical milestones, aiming for broader efficacy and durability.BOLTMorgan Stanley 22nd Annual Global Healthcare Conference
Next Bolt Biotherapeutics earnings date
Q4 202611 Mar, 2027
Bolt Biotherapeutics
Next Bolt Biotherapeutics earnings date
Q4 202611 Mar, 2027
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Frequently asked questions
Bolt Biotherapeutics Inc. is a clinical-stage biotechnology company engaged in developing innovative immunotherapies for cancer treatment. The company's proprietary technology, Boltbody Immune-stimulating Antibody Conjugate, represents a novel approach in immuno-oncology, aiming to transform "cold" tumors into "hot" tumors by engaging and activating myeloid cells to directly attack tumor cells. Bolt Biotherapeutics is advancing its lead clinical candidate, BDC-1001, a HER2-targeting Boltbody ISAC for the treatment of patients with HER2-positive solid tumors. Additionally, the company is developing BDC-3042, a myeloid modulating agonistic antibody aimed at reprogramming tumor-associated macrophages to enhance anti-tumor immunity, with plans to enter clinical trials. The company is headquartered in Redwood City, California, and its shares are listed on the Nasdaq.