Bolt Biotherapeutics (BOLT) Morgan Stanley 22nd Annual Global Healthcare Conference summary

Platform overview and differentiation

• ISAC platform uses immune-stimulating payloads to activate myeloid cells, leading to tumor phagocytosis and broad T cell activation.

• Preclinical models show complete tumor elimination and durable immunological memory, suggesting potential for long-lasting responses and efficacy against metastatic disease.

BDC-1001 program learnings

• BDC-1001 demonstrated safety, immune activation, and some anti-tumor activity, but efficacy was insufficient for commercial competitiveness in the HER2 space.

• Achieved a 30% objective response rate in phase I, but higher efficacy is needed to compete with established HER2 therapies.

• The program is winding down, with biomarker data to be presented at SITC in November.

Next-generation ISACs and clinical strategy

• Future development will focus on tumor types with higher probability of efficacy, such as gastric cancer, and emphasize capital efficiency and early efficacy signals.

• Next-gen ISACs are designed for greater potency, improved antibody selection, and enhanced bioconjugation methods to target lower antigen-expressing tumors.