Earnings Releases·Nov 12, 2026, 4:11 PM ET

Bolt Biotherapeutics — Third Quarter 2026 Earnings Summary

Collaboration revenue fell to $0 from $2.2 million year-over-year, while R&D and G&A expenses declined to $2.2 million and $2.5 million respectively, driven by restructuring and tax incentives, resulting in a reduced net loss of $19.5 million for the nine months ended September 30, 2026.
The company secured a strengthened balance sheet with $13.8 million in cash as of September 30, 2026, following a $120 million private placement and the October 23, 2026, stock-for-stock reverse merger acquisition of Prana Therapies.
Future outlook targets initial clinical data for PRA-216 Phase 2 studies and patient proof-of-concept across all four programs in Q2 2027, with a second INSPIRE program expected to enter the clinic in the second half of 2027.
Cash runway is projected to fund operations into 2028, supported by the acquisition of Prana's pipeline and the advancement of the proprietary INSPIRE multispecific antibody platform.