Company: BOLT
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0000950170-25-043873
Chunk: 210

Company: Bolt Biotherapeutics, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 7
Chunk 210
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:

    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 reduction in workforce, a decrease of $0.9 million in facilities expenses, $0.8 million in lower research and development lab supplies and contract services expense, and a decrease of $0.4 million in consulting expenses, offset by $1.3 million in higher clinical expenses related to the advancement of trastuzumab imbotolimod clinical trial into Phase 2 in both monotherapy and in combination with nivolumab and $1.0 million in higher manufacturing expenses related to more raw materials purchased and the timing of batch production of our product candidates.

General and Administrative Expenses 

General and administrative expenses decreased by $4.0 million from $22.5 million in 2023 to $18.5 million in 2024. The decrease was due to $3.5 million decrease in salary, bonus and related expenses as a result of the restructuring plan, a decrease of $1.5 million in lower