10-Q
--12-310001641281falseQ20001641281us-gaap:CommonStockMember2022-04-012022-06-300001641281us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001641281bolt:InnoventAgreementMember2022-01-012022-06-300001641281us-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001641281bolt:GenmabAgreementMember2021-05-012021-05-310001641281us-gaap:RetainedEarningsMember2022-06-300001641281bolt:ChesapeakeMasterLeaseMember2022-04-012022-06-300001641281us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-06-300001641281us-gaap:CommonStockMemberbolt:TwoThousandTwentyOneEquityIncentivePlanMember2021-01-310001641281us-gaap:EquipmentMember2022-06-300001641281us-gaap:FairValueInputsLevel1Memberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001641281us-gaap:EmployeeStockOptionMember2022-01-012022-06-3000016412812022-08-030001641281us-gaap:RetainedEarningsMember2021-03-310001641281us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001641281us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-300001641281us-gaap:CommonStockMember2021-12-310001641281bolt:StanfordAgreementMember2022-06-300001641281us-gaap:RetainedEarningsMember2022-01-012022-06-300001641281srt:MaximumMemberbolt:StanfordAgreementMember2022-06-300001641281us-gaap:FairValueInputsLevel1Memberus-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001641281bolt:EmployeePerformanceAndServiceBasedStockOptionsMember2021-04-012021-06-3000016412812022-06-300001641281us-gaap:AdditionalPaidInCapitalMember2021-01-012021-06-300001641281bolt:ChesapeakeMasterLeaseMember2021-01-012021-06-3000016412812022-01-012022-06-300001641281us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001641281us-gaap:RetainedEarningsMember2021-01-012021-06-300001641281us-gaap:RetainedEarningsMember2022-03-310001641281bolt:TwoThousandTwentyOneEmployeeStockPurchasePlanMember2021-01-012021-01-310001641281us-gaap:RetainedEarningsMember2020-12-310001641281bolt:TwoThousandTwentyOneEmployeeStockPurchasePlanMember2022-06-300001641281bolt:ChesapeakeMasterLeaseMember2020-08-072020-08-070001641281us-gaap:CommonStockMember2022-06-300001641281us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001641281us-gaap:EmployeeStockOptionMember2021-01-012021-06-300001641281us-gaap:AssetBackedSecuritiesMember2022-06-300001641281us-gaap:ResearchAndDevelopmentExpenseMember2022-04-012022-06-300001641281us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMember2022-06-300001641281us-gaap:FairValueInputsLevel1Memberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001641281us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-300001641281bolt:InnoventAgreementMember2021-12-310001641281us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001641281us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310001641281srt:MaximumMemberbolt:GenmabAgreementMember2021-05-012021-05-310001641281us-gaap:GeneralAndAdministrativeExpenseMember2022-04-012022-06-300001641281us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001641281us-gaap:CommonStockMember2022-01-012022-06-300001641281bolt:ChesapeakeMasterLeaseMember2020-08-070001641281srt:MaximumMemberbolt:InnoventAgreementMember2021-08-012021-08-310001641281us-gaap:GeneralAndAdministrativeExpenseMember2021-04-012021-06-300001641281us-gaap:PrepaidExpensesAndOtherCurrentAssetsMemberbolt:GenmabAgreementMember2022-01-012022-06-300001641281bolt:TwoThousandTwentyOneEmployeeStockPurchasePlanMemberus-gaap:CommonStockMember2021-01-310001641281us-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMember2022-06-300001641281bolt:TwoThousandTwentyOneEmployeeStockPurchasePlanMemberus-gaap:CommonStockMember2022-01-012022-06-300001641281us-gaap:RestrictedStockMember2021-12-012021-12-310001641281us-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001641281us-gaap:AssetBackedSecuritiesMember2021-12-310001641281us-gaap:CommonStockMember2021-01-012021-06-300001641281us-gaap:ConvertiblePreferredStockMember2021-01-012021-06-300001641281us-gaap:USTreasurySecuritiesMember2021-12-310001641281us-gaap:CommonStockMember2021-03-310001641281us-gaap:AdditionalPaidInCapitalMember2021-04-012021-06-3000016412812022-04-012022-06-300001641281bolt:TwoThousandTwentyOneEquityIncentivePlanMember2022-01-010001641281srt:MaximumMemberbolt:ShelfRegistrationAndAtTheMarketEquityOfferingMember2022-03-302022-03-300001641281us-gaap:USTreasurySecuritiesMember2022-06-300001641281us-gaap:EquipmentMember2021-12-310001641281us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMember2021-12-310001641281us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-310001641281us-gaap:LeaseholdImprovementsMember2021-12-310001641281bolt:GenmabAgreementMember2022-06-300001641281us-gaap:FairValueMeasurementsRecurringMember2022-06-300001641281us-gaap:AdditionalPaidInCapitalMember2022-03-310001641281bolt:CommonStockOutstandingSubjectToRepurchaseRelatedToUnvestedEarlyExercisedStockOptionsAndRestrictedStockAwardsMember2022-01-012022-06-300001641281us-gaap:CorporateDebtSecuritiesMember2022-06-300001641281us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300001641281us-gaap:FairValueInputsLevel2Memberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001641281bolt:EmployeePerformanceAndServiceBasedStockOptionsMember2020-09-012020-09-300001641281us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-300001641281us-gaap:CommercialPaperMember2021-12-310001641281us-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001641281us-gaap:AdditionalPaidInCapitalMember2022-04-012022-06-300001641281us-gaap:AdditionalPaidInCapitalMember2021-12-310001641281us-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001641281bolt:TwoThousandTwentyOneEmployeeStockPurchasePlanMemberus-gaap:CommonStockMember2021-01-012021-01-310001641281us-gaap:CommonStockMember2021-04-012021-06-300001641281us-gaap:RetainedEarningsMember2022-04-012022-06-300001641281bolt:GenmabAgreementMemberus-gaap:CommonStockMember2021-05-012021-05-310001641281bolt:InnoventBiologicsMember2022-01-012022-06-300001641281us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-06-300001641281bolt:CommonStockOutstandingSubjectToRepurchaseRelatedToUnvestedEarlyExercisedStockOptionsAndRestrictedStockAwardsMember2021-01-012021-06-3000016412812021-12-310001641281srt:MaximumMember2022-01-012022-06-300001641281bolt:EmployeePerformanceAndServiceBasedStockOptionsMember2022-01-012022-06-300001641281us-gaap:FairValueMeasurementsRecurringMember2021-12-310001641281srt:MaximumMemberbolt:TwoThousandTwentyOneEmployeeStockPurchasePlanMemberus-gaap:CommonStockMember2021-01-012021-01-310001641281us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-310001641281us-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-3100016412812021-04-012021-06-300001641281bolt:TwoThousandTwentyOneEmployeeStockPurchasePlanMember2021-12-312021-12-310001641281us-gaap:CommonStockMemberbolt:TwoThousandTwentyOneEquityIncentivePlanMember2021-12-312021-12-310001641281bolt:InnoventAgreementMember2022-04-012022-06-300001641281us-gaap:CommonStockMember2020-12-3100016412812021-01-012021-06-300001641281us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMember2021-12-310001641281bolt:TorayDevelopmentAgreementMemberbolt:SeriesTConvertiblePreferredStockMember2019-03-012019-03-310001641281bolt:CowenAndCompanyLlcMemberbolt:ShelfRegistrationAndAtTheMarketEquityOfferingMemberus-gaap:CommonStockMember2022-03-302022-03-300001641281bolt:EmployeePerformanceAndServiceBasedStockOptionsMember2021-01-012021-06-300001641281us-gaap:GeneralAndAdministrativeExpenseMember2021-01-012021-06-300001641281us-gaap:CommonStockMember2021-06-300001641281us-gaap:AdditionalPaidInCapitalMember2021-06-300001641281us-gaap:RetainedEarningsMember2021-12-310001641281us-gaap:CommercialPaperMember2022-06-300001641281bolt:GenmabAgreementMember2021-12-310001641281bolt:ShelfRegistrationAndAtTheMarketEquityOfferingMemberus-gaap:CommonStockMember2022-01-012022-06-300001641281us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001641281us-gaap:GeneralAndAdministrativeExpenseMember2022-01-012022-06-300001641281bolt:ChesapeakeMasterLeaseMember2021-04-012021-06-300001641281us-gaap:CorporateDebtSecuritiesMember2021-12-310001641281bolt:TorayDevelopmentAgreementMember2022-06-300001641281us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001641281us-gaap:FairValueInputsLevel1Memberus-gaap:USTreasurySecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001641281us-gaap:ConvertiblePreferredStockMember2020-12-310001641281bolt:TwoThousandTwentyOneEmployeeStockPurchasePlanMemberus-gaap:CommonStockMember2021-01-012021-06-300001641281us-gaap:FairValueInputsLevel2Memberus-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001641281us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-3100016412812021-03-310001641281bolt:TorayDevelopmentAgreementMember2021-12-310001641281bolt:GenmabAgreementMember2022-04-012022-06-300001641281us-gaap:OfficeEquipmentMember2021-12-310001641281us-gaap:FairValueInputsLevel2Memberus-gaap:CorporateDebtSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001641281us-gaap:FairValueInputsLevel2Memberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001641281us-gaap:AdditionalPaidInCapitalMember2021-03-3100016412812022-03-310001641281us-gaap:ResearchAndDevelopmentExpenseMember2022-01-012022-06-300001641281us-gaap:AdditionalPaidInCapitalMember2020-12-310001641281bolt:EmployeePerformanceAndServiceBasedStockOptionsMember2022-04-012022-06-300001641281bolt:InnoventAgreementMember2021-08-012021-08-310001641281bolt:ChesapeakeMasterLeaseMember2021-06-012021-06-300001641281bolt:TwoThousandTwentyOneEmployeeStockPurchasePlanMember2022-01-010001641281us-gaap:LeaseholdImprovementsMember2022-06-300001641281us-gaap:OfficeEquipmentMember2022-06-3000016412812020-12-310001641281us-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001641281us-gaap:RetainedEarningsMember2021-04-012021-06-300001641281bolt:ChesapeakeMasterLeaseMember2022-01-012022-06-300001641281bolt:CowenAndCompanyLlcMembersrt:MaximumMemberbolt:ShelfRegistrationAndAtTheMarketEquityOfferingMemberus-gaap:CommonStockMember2022-03-302022-03-300001641281us-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001641281bolt:GenmabAgreementMember2022-01-012022-06-300001641281us-gaap:ResearchAndDevelopmentExpenseMember2021-01-012021-06-300001641281us-gaap:ResearchAndDevelopmentExpenseMember2021-04-012021-06-300001641281us-gaap:RetainedEarningsMember2021-06-300001641281srt:MaximumMemberbolt:InnoventAgreementMemberus-gaap:CommonStockMember2021-08-310001641281us-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentCorporationsAndAgenciesSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-300001641281us-gaap:CommonStockMember2022-03-310001641281us-gaap:AdditionalPaidInCapitalMember2022-01-012022-06-300001641281bolt:InnoventAgreementMember2022-06-300001641281us-gaap:FairValueInputsLevel2Memberus-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMember2022-06-3000016412812021-06-300001641281bolt:StanfordAgreementMember2022-01-012022-06-300001641281us-gaap:AdditionalPaidInCapitalMember2022-06-30xbrli:pureutr:sqftiso4217:USDxbrli:sharesxbrli:sharesiso4217:USD

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 10-Q

 

 

(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2022

OR

 

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number 001-39988

 

 

Bolt Biotherapeutics, Inc.

(Exact name of Registrant as specified in its Charter)

 

 

Delaware

47-2804636

(State or other jurisdiction of

incorporation or organization)

(I.R.S. Employer
Identification No.)

 

 

900 Chesapeake Drive

Redwood City, CA

94063

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (650) 665-9295

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading Symbol(s)

 

Name of each exchange on which registered

Common Stock, $0.00001 par value

 

BOLT

 

The Nasdaq Global Select Market

 

Indicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YesNo

Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). YesNo

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

 

Accelerated filer

 

 

 

 

 

 

 

Non-accelerated filer

 

Smaller reporting company

 

 

 

 

 

 

 

Emerging growth company

 

 

 

 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No

As of August 3, 2022, the registrant had 37,641,459 shares of common stock outstanding.

 

 

 


 

Table of Contents

 

 

 

Page

PART I FINANCIAL INFORMATION

 

Item 1.

Financial Statements (unaudited)

1

 

Condensed Balance Sheets as of June 30, 2022 and December 31, 2021

1

 

Condensed Statements of Operations and Comprehensive Loss for the Three and Six Months Ended June 30, 2022 and 2021

2

 

Condensed Statements of Preferred Stock and Stockholders’ Equity (Deficit) for the Three and Six Months Ended June 30, 2022 and 2021

3

 

Condensed Statements of Cash Flows for the Six Months Ended June 30, 2022 and 2021

5

 

Notes to the Condensed Financial Statements

6

Item 2.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

18

Item 3.

Quantitative and Qualitative Disclosures About Market Risk

28

Item 4.

Controls and Procedures

28

 

 

PART II OTHER INFORMATION

 

Item 1.

Legal Proceedings

29

Item 1A.

Risk Factors

29

Item 2.

Unregistered Sales of Equity Securities and Use of Proceeds

29

Item 3.

Defaults Upon Senior Securities

29

Item 4.

Mine Safety Disclosures

29

Item 5.

Other Information

29

Item 6.

Exhibits

30

 

Signatures

31

 

i


 

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

BOLT BIOTHERAPEUTICS, INC.

CONDENSED BALANCE SHEETS

(Unaudited, in thousands, except share and per share amounts)

 

 

 

June 30,

 

 

December 31,

 

 

 

2022

 

 

2021

 

Assets

 

 

 

 

 

Current assets:

 

 

 

 

 

 

Cash and cash equivalents

 

$

22,618

 

 

$

27,383

 

Short-term investments

 

 

153,717

 

 

 

158,836

 

Prepaid expenses and other current assets

 

 

4,927

 

 

 

2,941

 

Total current assets

 

 

181,262

 

 

 

189,160

 

Property and equipment, net

 

 

6,525

 

 

 

6,158

 

Operating lease right-of-use assets

 

 

22,607

 

 

 

24,445

 

Restricted cash

 

 

1,565

 

 

 

1,565

 

Long-term investments

 

 

47,281

 

 

 

85,348

 

Other assets

 

 

997

 

 

 

1,042

 

Total assets

 

$

260,237

 

 

$

307,718

 

Liabilities and stockholders' equity

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

Accounts payable

 

$

3,362

 

 

$

3,574

 

Accrued expenses and other current liabilities

 

 

9,607

 

 

 

12,384

 

Deferred revenue

 

 

3,508

 

 

 

2,869

 

Operating lease liabilities

 

 

2,145

 

 

 

2,501

 

Total current liabilities

 

 

18,622

 

 

 

21,328

 

Operating lease liabilities, net of current portion

 

 

20,749

 

 

 

21,854

 

Deferred revenue, non-current

 

 

12,698

 

 

 

14,207

 

Other long-term liabilities

 

 

200

 

 

 

210

 

Total liabilities

 

 

52,269

 

 

 

57,599

 

Commitments and contingencies (Note 7)

 

 

 

 

 

 

Stockholders' equity:

 

 

 

 

 

 

Preferred stock, $0.00001 par value, authorized shares—10,000,000 shares authorized at June 30, 2022 and December 31, 2021; zero shares issued and outstanding at June 30, 2022 and December 31, 2021

 

 

 

 

 

 

Common stock, $0.00001 par value; 200,000,000 shares authorized at June 30, 2022 and December 31, 2021; 37,641,459 and 37,399,694 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively

 

 

 

 

 

 

Additional paid-in capital

 

 

463,103

 

 

 

457,430

 

Accumulated other comprehensive loss

 

 

(1,803

)

 

 

(321

)

Accumulated deficit

 

 

(253,332

)

 

 

(206,990

)

Total stockholders' equity:

 

 

207,968

 

 

 

250,119

 

Total liabilities, convertible preferred stock, and stockholders' equity

 

$

260,237

 

 

$

307,718

 

 

The accompanying notes are an integral part of these unaudited condensed financial statements.

1


 

BOLT BIOTHERAPEUTICS, INC.

CONDENSED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(Unaudited, in thousands, except share and per share amounts)

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Collaboration revenue

 

$

1,393

 

 

$

 

 

$

2,206

 

 

$

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

 

18,920

 

 

 

19,707

 

 

 

37,305

 

 

 

33,834

 

General and administrative

 

 

5,532

 

 

 

4,054

 

 

 

11,836

 

 

 

8,353

 

Total operating expense

 

 

24,452

 

 

 

23,761

 

 

 

49,141

 

 

 

42,187

 

Loss from operations

 

 

(23,059

)

 

 

(23,761

)

 

 

(46,935

)

 

 

(42,187

)

Other income (expense), net

 

 

 

 

 

 

 

 

 

 

 

 

Interest income, net

 

 

395

 

 

 

176

 

 

 

593

 

 

 

232

 

Change in fair value of preferred stock right liability

 

 

 

 

 

 

 

 

 

 

 

(6,084

)

Total other income (expense), net

 

 

395

 

 

 

176

 

 

 

593

 

 

 

(5,852

)

Net loss

 

 

(22,664

)

 

 

(23,585

)

 

 

(46,342

)

 

 

(48,039

)

Net unrealized (loss) gain on marketable securities

 

 

(407

)

 

 

41

 

 

 

(1,482

)

 

 

(23

)

Comprehensive loss

 

$

(23,071

)

 

$

(23,544

)

 

$

(47,824

)

 

$

(48,062

)

Net loss per share, basic and diluted

 

$

(0.61

)

 

$

(0.64

)

 

$

(1.25

)

 

$

(1.65

)

Weighted-average shares outstanding, basic and diluted

 

 

37,293,557

 

 

 

36,595,112

 

 

 

37,211,174

 

 

 

29,088,267

 

 

The accompanying notes are an integral part of these unaudited condensed financial statements.

2


 

BOLT BIOTHERAPEUTICS, INC.

CONDENSED STATEMENTS OF PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT)

(Unaudited, in thousands, except share amounts)

 

 

 

Three Months Ended June 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Additional

 

 

Other

 

 

 

 

 

Total

 

 

 

Preferred Stock

 

 

 

Common

 

 

Paid-In

 

 

Comprehensive

 

 

Accumulated

 

 

Stockholders'

 

 

 

Shares

 

 

Amount

 

 

 

Shares

 

 

Amount

 

 

Capital

 

 

Loss

 

 

Deficit

 

 

Equity

 

Balance at March 31, 2022

 

 

 

 

$

 

 

 

 

37,471,312

 

 

$

 

 

$

460,458

 

 

$

(1,396

)

 

$

(230,668

)

 

$

228,394

 

Vesting of restricted stock units

 

 

 

 

 

 

 

 

 

20,033

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issuance of common stock under employee stock purchase plan

 

 

 

 

 

 

 

 

 

136,711

 

 

 

 

 

 

224

 

 

 

 

 

 

 

 

 

224

 

Issuance of common stock upon exercise of stock options

 

 

 

 

 

 

 

 

 

13,403

 

 

 

 

 

 

28

 

 

 

 

 

 

 

 

 

28

 

Vesting of early exercised options

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2

 

 

 

 

 

 

 

 

 

2

 

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,391

 

 

 

 

 

 

 

 

 

2,391

 

Unrealized loss on available-for-sale investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(407

)

 

 

 

 

 

(407

)

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(22,664

)

 

 

(22,664

)

Balance at June 30, 2022

 

 

 

 

$

 

 

 

 

37,641,459

 

 

$

 

 

$

463,103

 

 

$

(1,803

)

 

$

(253,332

)

 

$

207,968

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

Convertible

 

 

 

 

 

 

 

 

 

Additional

 

 

Other

 

 

 

 

 

Total

 

 

 

Preferred Stock

 

 

 

Common

 

 

Paid-In

 

 

Comprehensive

 

 

Accumulated

 

 

Stockholders'

 

 

 

Shares

 

 

Amount

 

 

 

Shares

 

 

Amount

 

 

Capital

 

 

Loss

 

 

Deficit

 

 

Equity

 

Balance at March 31, 2021

 

 

 

 

$

 

 

 

 

36,331,846

 

 

$

 

 

$

436,165

 

 

$

(64

)

 

$

(132,853

)

 

$

303,248

 

Issuance of common stock related to stock purchase agreement

 

 

 

 

 

 

 

 

 

821,045

 

 

 

 

 

 

13,638

 

 

 

 

 

 

 

 

 

13,638

 

Issuance of common stock under employee stock purchase plan

 

 

 

 

 

 

 

 

 

29,685

 

 

 

 

 

 

420

 

 

 

 

 

 

 

 

 

420

 

Issuance of common stock upon exercise of stock options

 

 

 

 

 

 

 

 

 

8,429

 

 

 

 

 

 

23

 

 

 

 

 

 

 

 

 

23

 

Vesting of early exercised options

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

88

 

 

 

 

 

 

 

 

 

88

 

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,023

 

 

 

 

 

 

 

 

 

2,023

 

Unrealized gain on available-for-sale investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

41

 

 

 

 

 

 

41

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(23,585

)

 

 

(23,585

)

Balance at June 30, 2021

 

 

 

 

$

 

 

 

 

37,191,005

 

 

$

 

 

$

452,357

 

 

$

(23

)

 

$

(156,438

)

 

$

295,896

 

 

 

3


 

BOLT BIOTHERAPEUTICS, INC.

CONDENSED STATEMENTS OF PREFERRED STOCK AND STOCKHOLDERS’ EQUITY (DEFICIT)

(Unaudited, in thousands, except share amounts)

 

 

 

Six Months Ended June 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Additional

 

 

Other

 

 

 

 

 

Total

 

 

 

Preferred Stock

 

 

 

Common

 

 

Paid-In

 

 

Comprehensive

 

 

Accumulated

 

 

Stockholders'

 

 

 

Shares

 

 

Amount

 

 

 

Shares

 

 

Amount

 

 

Capital

 

 

Loss

 

 

Deficit

 

 

Equity

 

Balance at December 31, 2021

 

 

 

 

$

 

 

 

 

37,399,694

 

 

$

 

 

$

457,430

 

 

$

(321

)

 

$

(206,990

)

 

$

250,119

 

Vesting of restricted stock units

 

 

 

 

 

 

 

 

 

45,867

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Issuance of common stock under employee stock purchase plan

 

 

 

 

 

 

 

 

 

136,711

 

 

 

 

 

 

224

 

 

 

 

 

 

 

 

 

224

 

Issuance of common stock upon exercise of stock options

 

 

 

 

 

 

 

 

 

59,187

 

 

 

 

 

 

135

 

 

 

 

 

 

 

 

 

135

 

Vesting of early exercised options

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4

 

 

 

 

 

 

 

 

 

4

 

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5,310

 

 

 

 

 

 

 

 

 

5,310

 

Unrealized loss on available-for-sale investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1,482

)

 

 

 

 

 

(1,482

)

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(46,342

)

 

 

(46,342

)

Balance at June 30, 2022

 

 

 

 

$

 

 

 

 

37,641,459

 

 

$

 

 

$

463,103

 

 

$

(1,803

)

 

$

(253,332

)

 

$

207,968

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

 

 

 

 

 

 

Convertible