Bolt Biotherapeutics, Inc.: insider trades · United States · SEC (Form 4)

About Bolt Biotherapeutics, Inc.

Bolt Biotherapeutics, Inc. is a U.S.-listed clinical-stage biopharmaceutical company traded on NASDAQ in the United States. The company is focused on oncology immunotherapy, with a scientific strategy centered on myeloid biology and the reprogramming of the tumor microenvironment. Its core thesis is to combine the targeting precision of antibodies with the activating power of the innate and adaptive immune systems in order to create a more effective anti-cancer response. The company was formed in its current structure in July 2015 and is headquartered in Redwood City, California, in the San Francisco Bay Area. Bolt’s platform is built around its proprietary Boltbody™ ISAC approach, short for Immune-Stimulating Antibody Conjugate. This platform is designed to deliver immune activation directly to tumors, which is why Bolt is positioned more as a next-generation immuno-oncology innovator than as a conventional antibody company. Over time, the company has refined its pipeline and in 2024 and 2025 sharpened its focus on a smaller number of programs in order to conserve capital and prioritize assets with the best clinical potential. As of late 2025, Bolt’s main development assets are BDC-3042, a phase 1 dectin-2 agonist antibody, and BDC-4182, a next-generation Boltbody ISAC candidate targeting claudin 18.2. The company previously pursued trastuzumab imbotolimod, but this program was discontinued as part of a strategic pipeline prioritization. That shift is important for investors: it shows management is willing to exit non-core or lower-priority programs to preserve cash and concentrate on assets with stronger scientific and commercial promise. From a competitive standpoint, Bolt operates in a crowded and capital-intensive oncology innovation landscape. It competes indirectly with large pharmaceutical companies, specialty biotech firms, and platform companies developing antibody-drug conjugates, immunostimulatory conjugates, and other advanced immunotherapies. Bolt’s differentiator is its myeloid-cell-focused biology and ISAC platform, which gives it a distinct niche but also exposes it to substantial development risk. The company does not yet have a commercial product portfolio; it remains dependent on clinical progress, collaboration income, and capital market access. Geographically, Bolt’s operating base is primarily in the United States, although it established an Australian subsidiary in 2024 to broaden its research and development footprint. Recent notable events include the May 2024 restructuring and pipeline prioritization, the June 2025 one-for-twenty reverse stock split, and the October 2025 restructuring that reduced headcount to preserve cash. In the same October 2025 update, Bolt said it expected initial clinical data for BDC-4182 in the third quarter of 2026 and aimed to extend its cash runway into 2027. For investors, Bolt remains a high-risk, event-driven biotech story whose valuation will likely be driven by clinical readouts, financing needs, and execution on its narrowed pipeline.