Bolt Biotherapeutics shares surge 11.94% premarket as clinical data for BDC-4182 expected in 3Q 2026 and $38.8M cash runway extends into 2027.

Bolt Biotherapeutics surged 11.94% in premarket trading following its Q3 2025 earnings report and business update. The company highlighted progress in its BDC-4182 Phase 1 trial for gastric and gastroesophageal cancer, with initial data expected in 3Q 2026, and confirmed a $38.8 million cash balance sufficient to fund operations through 2027. CEO Willie Quinn emphasized the extended cash runway and pipeline advancements, including preclinical updates on CEA and PD-L1 ISACs. Reduced R&D expenses ($6.5M vs. $13.8M in 2024) and narrowed losses ($7.7M vs. $16.4M) further reinforced financial discipline. These developments, coupled with strategic collaborations and a focus on long-term value creation, likely drove the sharp premarket rally as investors reacted to improved operational and financial visibility.