Company: BOLT
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0000950170-25-043873
Chunk: 137

Company: Bolt Biotherapeutics, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 1B
Chunk 137
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 Change

    (In thousands)

    Collaboration revenue
     
    $
    7,690

    $
    7,876

    $
    (186
    )

    Operating expenses:

    Research and development

    57,469

    61,542

    (4,073
    )

    General and administrative

    18,457

    22,530

    (4,073
    )

    Restructuring charges

    3,343

    —

    3,343

    Impairment charges

    1,469

    —

    1,469

    Total operating expenses

    80,738

    84,072

    (3,334
    )

    Loss from operations

    (73,048
    )

    (76,196
    )

    3,148

    Other income (expense), net:

    Interest income, net

    5,255

    6,999

    (1,744
    )

    Other income (expense), net

    4,675

    —

    4,675

    Total other income (expense), net

    9,930

    6,999

    2,931

    Net loss

    (63,118
    )

    (69,197
    )

    6,079

    Net unrealized gain (loss) on marketable securities

    60

    956

    (896
    )

    Comprehensive loss
     
    $
    (63,058
    )
     
    $
    (68,241
    )
     
    $
    5,183

Collaboration Revenue 

Revenue was $7.7 million and $7.9 million for the years ended December 31, 2024 and 2023, respectively. The increase in revenue in the comparative periods was mainly due to revenue recognized under the Amended Innovent Agreement, as we satisfied our performance obligation to Innovent. The increase was also due to continued progress in our other collaborations as we fulfill our performance obligations to our collaboration partners.

Research and Development Expenses 

Research and development expenses decreased by $4.0 million from $61.5 million in 2023 to $57.5 million in 2024. The decrease was due to $4.1 million in lower personnel-related expenses due to a decrease in headcount related to the