Company: BOLT
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0000950170-25-043873
Chunk: 140

Company: Bolt Biotherapeutics, Inc.
Filing Date: 2025-03-24
Form: 10-K
Item: Item 1B
Chunk 140
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% of the gross proceeds from the sale of any shares of common 

79

stock. We are not obligated to make any sales of shares of our common stock under the ATM. As of December 31, 2024, no shares of our common stock have been sold under the ATM.

Summary Cash Flows

The following table sets forth a summary of our cash flows for each of the periods indicated: 

    Years Ended December 31,

    2024

    2023

    (In thousands)

    Net cash (used in) provided by:

    Operating activities
     
    $
    (61,289
    )
     
    $
    (69,525
    )

    Investing activities

    57,576

    71,038

    Financing activities

    108

    253

    Net (decrease) increase in cash, cash equivalents and restricted cash
     
    $
    (3,605
    )
     
    $
    1,766

Operating Activities 

Net cash used in operating activities was $61.3 million and $69.5 million for 2024 and 2023, respectively. Net cash used in operating activities for 2024 was due to our net loss of $63.1 million, adjusted for $10.3 million of non-cash charges and a $8.4 million change in operating assets and liabilities. The non-cash charges were comprised of $7.4 million for stock-based compensation, $2.3 million of non-cash lease-related expense, and $1.8 million for depreciation and amortization expense, partially offset by $2.6 million for accretion of discount on marketable securities and $0.1 million gain on sale of property and equipment. The change in net operating assets was primarily due to a $4.7 million decrease in deferred revenue, a $4.9 million decrease in our accounts payable and accrued expenses, $1.4 million decrease in operating lease liabilities, offset by a $2.6 million increase in our prepaid expense and other assets. Net cash used in operating activities for 2023 was due to our net loss of $69.2 million, adjusted for $9.5 million of non-cash charges and a $9.9 million change in operating assets and liabilities. The non-cash charges were comprised of $9.2 million for stock-based compensation, $3.0 million of non-cash lease-related expense, and $