Company: BOLT
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0000950170-25-043873
Chunk: 209

Company: Bolt Biotherapeutics, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 7
Chunk 209
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; and 

•the safety and efficacy profile of our product candidates. 

General and Administrative 

General and administrative expenses consist primarily of salaries and employee-related costs, including stock-based compensation, for personnel in executive, finance, and other administrative functions. Other significant costs include legal fees relating to intellectual property and corporate matters, professional fees for accounting and consulting services, and facility-related costs.  

We expect to continue to incur general and administrative expenses for the foreseeable future to support our ongoing research and development activities and the costs of operating as a public company. These costs will likely include expenses related to audit, legal, regulatory, and tax-related services associated with maintaining compliance with Nasdaq and SEC requirements, director and officer insurance premiums and investor relations costs associated with operating as a public company. 

Restructuring Charges 

Restructuring charges consist of one-time termination benefits such as severance costs and related benefits and stock-based compensation charges associated with a reduction-in-force. 

Impairment Charges

Impairment charges consist of one-time impairment loss associated with an impairment evaluation to assess the impact on the carrying value of our long-lived assets. 

Other Income, Net 

Interest Income, Net 

Interest income consists of interest income from our marketable securities investments.  

Other Income

Other income in 2024 consists of the one-time payment received from Innovent under the Amended Innovent Agreement. 

77

Results of Operations 

Comparison of the Years Ended December 31, 2024 and 2023 

    Years Ended December 31,

    2024

    2023

    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