BDC-4182

March 12, 2026: Bolt Biotherapeutics (NASDAQ: BOLT) reported 4Q/full-year 2025 financial results and provided pipeline updates. The company’s lead program, BDC-4182 (a next-generation Boltbody immune-stimulating antibody conjugate [ISAC] targeting claudin 18.2), is in an ongoing Phase 1 dose-escalation trial enrolling patients with gastric and gastroesophageal cancers; initial clinical data are expected/presented in 3Q 2026. Bolt said it observed a strong immune response at initial dose levels and amended the protocol to allow step-up dosing.

Preclinical ISAC programs: next-generation ISACs targeting CEA (CEACAM5) and PD-L1 remain on hold pending partnering or funding, with potential to enter the clinic within 18 months once resumed.

The company also said it is seeking to partner BDC-3042 (a Dectin-2 agonist) after completion of a first-in-human Phase 1 dose-escalation trial.

Financial/cash runway: cash, cash equivalents, and marketable securities were $31.8 million as of Dec. 31, 2025, expected to fund milestones and operations into 2027.