- Bolt Biotherapeutics now expects to report initial clinical data for its BDC-4182 Phase 1 dose escalation study in the **third quarter of 2026**, following a modification to the clinical trial protocol.  **[1641281_0001193125-25-228293_bolt-ex99_1.htm:0]** **[1641281_0001193125-25-228293_bolt-20251001.htm:2]** 
- To conserve capital and extend its cash runway **into 2027**, the company is implementing a **50% workforce reduction**, impacting approximately **20 employees**.  **[1641281_0001193125-25-228293_bolt-ex99_1.htm:0]** **[1641281_0001193125-25-228293_bolt-20251001.htm:1]** **[1641281_0001193125-25-228293_bolt-20251001.htm:2]** 
- The company anticipates incurring pre-tax charges of approximately **$1.5 million to $2.0 million** related to the workforce reduction, primarily for severance and benefits, which are expected to be recorded in the **fourth quarter of 2025**.  **[1641281_0001193125-25-228293_bolt-20251001.htm:1]**

Bolt Biotherapeutics Provides BDC-4182 Update and Extends Cash Runway

- Bolt Biotherapeutics now expects to report initial clinical data for its BDC-4182 Phase 1 dose escalation study in **3Q 2026**, a delay attributed to modifying the clinical trial protocol.  **[1641281_252bc70398354117997ff9ad4702994b_0]** **[1641281_252bc70398354117997ff9ad4702994b_1]** 
- To conserve capital and extend its cash runway **into 2027**, the company is implementing a **50% workforce reduction**.  **[1641281_252bc70398354117997ff9ad4702994b_0]** **[1641281_252bc70398354117997ff9ad4702994b_1]**

Bolt Biotherapeutics (BOLT)