Bolt Biotherapeutics Halves Workforce Again Amid Clinical Trial Delays

Bolt Biotherapeutics, a clinical-stage oncology company, has announced a significant workforce reduction and a delay in its lead immunotherapy program. This move comes as the biotech faces financial pressures and seeks to extend its cash runway.

Workforce Reduction and Financial Strategy

Bolt has made the decision to halve its workforce for the second time in two years. This latest round of layoffs is aimed at preserving capital and extending the company's financial resources into 2027. The drastic measure follows a similar workforce reduction in August 2024, which left the company with 52 employees at the end of that year.

CEO Willie Quinn addressed the difficult decision, stating, "I want to sincerely thank all of our colleagues impacted by this decision. Amid challenging market conditions, our strategic imperative is the clinical advancement of BDC-4812 and the support of our ISAC collaborations to increase shareholder value."

Clinical Trial Developments and Delays

The company's lead asset, BDC-4182, an immune-stimulating antibody conjugate (ISAC) targeting Claudin 18.2 for gastric and gastroesophageal cancers, is currently undergoing a phase 1 dose-escalation study. Bolt had initially anticipated releasing initial data from this trial in the first half of 2026. However, the company is now modifying the trial protocol to implement a step-up dosing approach after observing a "strong immune response at initial dose levels."

As a result of these protocol changes, the expected data readout has been pushed back to the third quarter of 2026. This delay has contributed to the company's decision to reduce its workforce, as it seeks to align its financial resources with the extended timeline for clinical development.

Strategic Focus and Collaborations

Despite the setbacks, Bolt remains committed to advancing its ISAC platform and maintaining its ongoing collaborations. The company continues to work with partners such as Genmab and Toray, leveraging its expertise in targeted immunotherapies.

Additionally, Bolt is actively seeking a partner for its dectin-2 agonist antibody, BDC-3042, which recently completed a phase 1 dose-escalation study. This partnership strategy aligns with the company's efforts to maximize the value of its pipeline while managing its financial resources.