Street Calls of the Week
Investing.com -- Bolt Biotherapeutics (NASDAQ:BOLT) stock fell 4.6% in after-hours trading on Wednesday following the company’s announcement that initial clinical data for its BDC-4182 Phase 1 dose escalation study would be delayed until the third quarter of 2026.
The clinical-stage biopharmaceutical company is modifying its trial protocol to allow for step-up dosing after observing a strong immune response at initial dose levels. This approach has been successfully used commercially for T-cell engagers and is supported by BDC-4182’s preclinical data, according to the company.
In conjunction with the clinical trial update, Bolt announced it is implementing a workforce reduction of approximately 50% to extend its cash runway into 2027. The company framed this decision as necessary to conserve capital and maintain long-term shareholder value amid challenging market conditions.
"I want to sincerely thank all of our colleagues impacted by this decision. Their commitment and valuable contributions have been essential in developing our novel Boltbody™ ISAC technology and these potential new treatment options for patients with cancer," said Willie Quinn, President and Chief Executive Officer.
BDC-4182 is a next-generation Boltbody™ ISAC (Immune-Stimulating Antibody Conjugate) clinical candidate targeting claudin 18.2, which the company describes as a clinically validated target in oncology.
The company stated that its strategic focus remains on the clinical advancement of BDC-4812 and supporting its ISAC collaborations to increase shareholder value.
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