Bolt Biotherapeutics — Third Quarter 2026 Earnings Summary

Bolt Biotherapeutics completed the acquisition of Prana Therapies in a stock-for-stock reverse merger and secured $120 million in concurrent private placement financing. The company has designated the INSPIRE-built pipeline, led by the Phase 2 bispecific antibody PRA-216, as its primary development focus for treating asthma, atopic dermatitis, and chronic obstructive pulmonary disease. PRA-216 Phase 1 data demonstrated the potential for at-home maintenance dosing every 8 to 12 weeks, with initial Phase 2 proof-of-concept data expected in the second quarter of 2027. For the third quarter of 2026, the company reported a net loss of $4.4 million and operating expenses of $4.7 million, while its cash runway is projected to extend into 2028.