What caused BOLT's Q4 2024 EPS to plummet unexpectedly?

Bolt Biotherapeutics' Q4 2024 EPS plummeted to -$0.42, which can be attributed to several factors:

1. **Revenue Shortfall**: The company reported no collaboration revenue for the quarter, which is a significant decrease from the $2.1 million reported in the same quarter of 2023. This shortfall contributes to the negative EPS.
2. **Operating Expenses**: Despite reductions in research and development expenses to $11.7 million, down from $16.3 million in the previous year, and general and administrative expenses to $3.9 million, down from $5.5 million, the company's losses narrowed to $16.9 million for the quarter, compared to $19.8 million in the same quarter of 2023. The decrease in operating expenses is a positive aspect, but it is not enough to offset the revenue shortfall.

In conclusion, the unexpected drop in BOLT's Q4 2024 EPS is primarily due to the lack of collaboration revenue and revenue from operations. Despite cost management efforts, the company's financial performance was impacted by these factors, leading to a negative EPS.