Earnings release
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BOLT MOTHERAPEUTICE Exhibit 99.1 Bolt Biotherapeutics Reports Second Quarter 2026 Financial Results and Provides Business Update First - in - class immune - stimulating antibody conjugate BDC - 4182 Phase 1/2 study ongoing , initial clinical data pected to be released with Bolt's 3Q 202 results e Cash balance of $ 18.1 million as of June 30 , 202 anticipated to fund operations into 1Q 2027 REDWOOD CITY , CA , August 11 , 2026 - Bolt Biotherapeutics ( Nasdaq BOLT ) , a clinical - stage biopharmaceutical company developing novel immunotherapies for the treatment of cancer , today reported financial results for the second quarter ended June 30 , 202 , and provided a business update . " In the second quarter , we continued to make meaningful progress in the ongoing BDC - 4182 Phase 1/2 study in patients with gastric and gastroesophageal cancer . We are currently treating patients in Cohort 4. To date , BDC - 4182 has been well tolerated , and we are seeing activity consistent with our immune - stimulating mechanism , ” said Willie Quinn , President and Chief E ecutive Officer . " We e pect to report initial clinical data from BDC - 4182 with our third quarter 202 results . " Recent Highlights and Anticipated Milestones • t - generation Boltbody ™ ISAC pression in gastric cancer , Initial clinical data from BDC - 4182 Phase 1/2 study for patients with gastric and gastroesophageal cancer expected with third quarter 2026 results . BDC - 4182 is a ne targeting claudin 18.2 , a clinically validated target with e gastroesophageal junction cancer , pancreatic cancer , and other tumor types . In preclinical models , including cancer models with low claudin 18.2 e pression , BDC - 4182 demonstrated significant anti- tumor activity , induced immunological memory , and outperformed cytoto ic ADCs . Bolt has implemented step - up dosing , which has been successfully used commercially for T - cell engagers , as a strategy to get to higher doses safely . The clinical trial in gastric and gastroesophageal cancers is progressing well with ongoing treatment of patients in Cohort 4 at the 4.0 mg / kg dose level . Cash , cash equivalents , and marketable securities were $ 18.1 million as of June 30 , 2026. Cash on hand is pected to fund operations into first quarter 2027 . e
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Second Quarter 2026 Financial Results • Collaboration Revenue – Total collaboration revenue was $5,000 for the quarter ended June 30, 2026 , compared to $1.8 million for the same quarter in 2025. Revenue in the comparative periods was generated from services performed under the R&D collaborations as we fulfill our performance obligations. • Research and Development (R&D) Expenses – R&D expenses were $5.1 million for the quarter ended June 30, 2026 , compared to $7.5 million for the same quarter in 2025. The decrease between the comparable periods was mainly due to a decrease in salary and related expenses primarily as a result of our restructuring and overall lower research and development activities. • General and Administrative (G&A) Expenses – G&A expenses were $2.4 million for the quarter ended June 30, 2026 , compared to $3.5 million for the same quarter in 2025. The decrease between the comparable periods was mainly due to a decrease in salary and related expenses primarily as a result of our restructuring as well as lower consulting expenses. • Loss from Operations – Loss from operations was $8.4 million for the quarter ended June 30, 2026 , compared to $9.2 million for the same quarter in 2025. About the Boltbody™ Immune-Stimulating Antibody Conjugate (ISAC) Platform Bolt Biotherapeutics’ Boltbody ISAC platform harnesses the precision of antibodies with the power of the innate and adaptive immune system to generate a productive anti-cancer response. Each Boltbody ISAC candidate comprises a tumor- targeting antibody, a non-cleavable linker, and a proprietary immune stimulant. The antibody is designed to target one or more markers on the surface of a tumor cell and the immune stimulant is designed to recruit and activate myeloid cells. Activated myeloid cells initiate a positive feedback loop by releasing cytokines and chemokines, chemical signals that attract other immune cells and lower the activation threshold for an immune response. This increases the population of activated immune system cells in the tumor microenvironment and promotes a robust immune response with the goal of generating durable therapeutic responses for patients with cancer. About Bolt Biotherapeutics, Inc. Bolt Biotherapeutics is a clinical-stage biopharmaceutical company developing novel immunotherapies for the treatment of cancer. Bolt Biotherapeutics’ pipeline reflects the Company’s expertise in myeloid biology and cancer drug development. The Company’s lead program is BDC-4182, a next-generation Boltbody™ Immune- Stimulating Antibody Conjugate ( ISAC) clinical candidate targeting claudin 18.2. BDC-4182 is currently in a Phase 1/2 trial that includes patients with gastric and gastroesophageal cancer. The Company has strategic collaborations with Genmab and Toray built around the Company’s Boltbody™ ISAC platform technology. The rest of the Company’s pipeline is currently on hold, including BDC-3042, a Dectin-2 agonist that completed a first-in-human Phase 1 dose escalation trial, as well as its preclinical ISAC programs targeting CEA and PD-L1. For more information, please visit https://www.boltbio.com/. Forward-Looking Statements This press release contains forward-looking statements about us and our industry that involve substantial risks and uncertainties and are based on our beliefs and assumptions and on information currently available to us. All statements other than statements of historical facts contained in this press release, including statements regarding our ability to partner our CEA ISAC and PD-L1 ISAC, the advancement and success of our BDC-4182 clinical trials, the timing of initial data from our Phase 1 dose-escalation study of BDC-4182, the timing of our ISAC programs, the anti-tumor potency, safety and tolerability, and characteristics of our product candidates, the initiation of future clinical trials, the potential value of collaborations, and the expected duration of our cash runway and ability to fund key milestones into first quarter 2027, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,”
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“could,” “estimate,” “expect,” “intend,” “may,” “on track,” “plan,” “potential,” “predict,” “project,” “should,” “will,” or “would,” or the negative of these words or other similar terms or expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements represent our current beliefs, estimates and assumptions only as of the date of this press release and information contained in this press release should not be relied upon as representing our estimates as of any subsequent date. These statements, and related risks, uncertainties, factors and assumptions, include, but are not limited to: the potential product candidates that we develop may not progress through clinical development or receive required regulatory approvals within expected timelines or at all; clinical trials may not confirm any safety, potency or other product characteristics described or assumed in this press release; such product candidates may not be beneficial to patients or become commercialized; and our ability to maintain our current collaborations and establish further collaborations. These risks are not exhaustive. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. Further information on factors that could cause actual results to differ materially from the results anticipated by our forward-looking statements is included in the reports we have filed or will file with the Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. These filings, when available, are available on the investor relations section of our website at investors.boltbio.com and on the SEC’s website at www.sec.gov. Investor Relations and Media Contact: Matthew DeYoung Argot Partners ( 212) 6 00-1902 boltbio@argotpartners.com
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BOLT BIOTHERAPEUTICS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited, in thousands, except share and per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Collaboration revenue $ 5 $ 1,804 $ 31 $ 3,026 Operating expenses: Research and development 5,149 7,498 9,978 17,010 General and administrative 2,422 3,516 5,220 7,341 Impairment charges 808 — 808 — Total operating expense 8,379 11,014 16,006 24,351 Loss from operations (8,374) (9,210) (15,975) (21,325) Other income (expense), net: Interest income, net 178 599 454 1,652 Other income, net 476 50 557 72 Total other income (expense), net 654 649 1,011 1,724 Net loss (7,720) (8,561) (14,964) (19,601) Net unrealized loss on marketable securities (33) (46) (23) (103) Comprehensive loss $ (7,753) $ (8,607) $ (14,987) $ (19,704) Net loss per share, basic and diluted $ (4.57) $ (4.46) $ (8.88) $ (10.22) Weighted-average shares outstanding, basic and diluted 1,690,529 1,917,629 1,685,514 1,917,288
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BOLT BIOTHERAPEUTICS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited, in thousands) June 30, December 31, 2026 2025 Assets Current assets: Cash and cash equivalents $ 12,860 $ 11,703 Short-term investments 4,738 15,802 Restricted cash 200 200 Prepaid expenses and other current assets 2,766 2,555 Total current assets 20,564 30,260 Property and equipment, net 571 1,245 Operating lease right-of-use assets 17,075 19,230 Restricted cash, non-current 1,538 1,538 Long-term investments 509 4,337 Other assets 87 138 Total assets $ 40,344 $ 56,748 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 868 $ 1,443 Accrued expenses and other current liabilities 3,089 3,717 Deferred revenue 819 449 Operating lease liabilities 3,091 2,826 Total current liabilities 7,867 8,435 Operating lease liabilities, net of current portion 18,533 20,132 Deferred revenue, non-current 1,172 1,544 Other long-term liabilities 132 132 Total liabilities 27,704 30,243 Commitments and contingencies Stockholders' equity: Common stock — — Additional paid-in capital 488,427 487,305 Accumulated other comprehensive loss (44) (21) Accumulated deficit (475,743) (460,779) Total stockholders' equity 12,640 26,505 Total liabilities and stockholders' equity $ 40,344 $ 56,748
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BOLT BIOTHERAPEUTICS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited, in thousands) Six Months Ended June 30, 2026 2025 CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (14,964) $ (19,601) Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 374 746 Stock-based compensation expense 1,097 1,334 Accretion of discount on marketable securities (122) (379) Gain on sale of property and equipment (404) (288) Asset impairment 808 — Non-cash lease expense 1,347 1,239 Changes in operating assets and liabilities: Prepaid expenses and other assets (160) (236) Accounts payable and accrued expenses (1,203) (3,351) Operating lease liabilities (1,334) (1,026) Deferred revenue (2) (1,533) Other long-term liabilities — 133 Net cash used in operating activities (14,563) (22,962) CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment (13) — Proceeds from sales of property and equipment 717 963 Purchases of marketable securities (1,230) (15,457) Maturities of marketable securities 16,221 39,838 Net cash provided by investing activities 15,695 25,344 CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from issuance of common stock 25 14 Net cash provided by financing activities 25 14 NET INCREASE (DECREASE) IN CASH 1,157 2,396 Cash, cash equivalents and restricted cash at beginning of year 13,441 8,970 Cash, cash equivalents and restricted cash at end of period $ 14,598 $ 11,366 Reconciliation of cash, cash equivalents and restricted cash: Cash and cash equivalents $ 12,860 $ 9,601 Restricted cash 1,738 1,765 Total cash, cash equivalents and restricted cash $ 14,598 $ 11,366