Bolt Biotherapeutics 2025 Q3 Earnings 52.9% Reduction in Net Loss

Bolt Biotherapeutics (BOLT) reported Q3 2025 earnings, exceeding Wall Street’s EPS expectations while narrowing losses. The company guided to a cash runway extending into 2027, driven by a $38.8 million balance, and outlined key milestones for its BDC-4182 trial.

Revenue

Collaboration revenue accounted for the entire $2.17 million in total revenue for Q3 2025, a 90.1% increase from $1.14 million in the prior-year period. This growth reflects ongoing partnerships and research agreements.

Earnings/Net Income

The company narrowed its net loss to $7.14 million ($3.72 per share) in Q3 2025, a 52.9% improvement from $15.18 million ($7.93 per share) in Q3 2024. While the reduction in losses is positive, the firm remains unprofitable, having reported losses in each of the past five years.

Post-Earnings Price Action Review

A strategy of purchasing Bolt shares on its Q3 earnings announcement and holding for 30 days yielded a 17.5% cumulative return over three years, translating to an average annual return of 5.8%. This outperformance, despite biotech sector volatility, underscores investor confidence in revenue growth and clinical progress.

CEO Commentary

CEO Willie Quinn highlighted BDC-4182’s Phase 1 trial advancements and the $38.8 million cash balance, which is projected to fund operations through 2027. He emphasized strategic collaborations and the potential for durable anti-tumor responses in upcoming data presentations.

Guidance

Bolt anticipates initial BDC-4182 Phase 1 data in Q3 2026 and expects its current cash reserves to support key milestones. The company also aims to partner BDC-3042 and advance preclinical programs targeting CEA and PD-L1.

Additional News

1. Collaboration Growth: Q3 collaboration revenue doubled to $2.2 million, driven by expanded R&D partnerships.

2. Workforce Restructuring: In May 2025, Bolt reduced its workforce by 50% to streamline operations.

3. Clinical Update: The Phase 1 trial for BDC-4182, targeting claudin 18.2, continues with modified dosing protocols to enhance efficacy.