Case Summary

Bolt

NASDAQ: BOLT

Case Details

  • Nesterenko v. Bolt Biotherapeutics, Inc. et al.
  • Class Period:February 5, 2021 - May 14, 2024
  • Date Filed:July 02, 2024
  • Jurisdiction:U.S. District Court, Northern District of California
  • Docket Number: 3:24-cv-03985
  • Lead Plaintiff Deadline: September 2, 2024
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Overview

A class action lawsuit has been filed against Bolt Biotherapeutics, Inc. (“Bolt” or the “Company”) (NASDAQ: BOLT) and certain of the Company’s former and current senior executive officers alleging violations of the federal securities laws. The Bolt class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Bolt securities between February 5, 2021, and May 14, 2024, both dates inclusive (the “Class Period”). Investors have until September 2, 2024, to seek appointment as lead plaintiff of the Bolt class action lawsuit.

Bolt, a clinical-stage biopharmaceutical company, engages in the development of immunotherapies for the treatment of cancer. The Company’s business model relies primarily on the success of its “Boltbody” pipeline of immuno-oncology product candidates. Bolt’s product pipeline includes the immune-stimulating antibody conjugate (“ISAC”) BDC-10011, designed to target a tumor antigen known as human epidermal growth factor receptor 2 (“HER2”) that is often found in cancers such as breast and gastroesophageal cancer, as well as BDC-3042 and BDC-4182, programs targeting the clinically validated cancer antigen Claudin 18.2.

Historically, Bolt’s lead asset was BDC-1001, which had pre-defined success criteria that included an overall response rate (“ORR”) efficacy threshold of at least 30% and, according to Bolt, purportedly provided a compelling example of the potential of Boltbody ISACs to address unmet medical needs in solid tumors by targeting HER2-expressing tumors and related metastatic disease, triggering their destruction by the innate and adaptive immune systems.

The Bolt class action lawsuit alleges that Defendants, throughout the Class Period, made false and/or misleading statements and/or failed to disclose, among other things, that: (1) BDC-1001 was less effective than the Company had represented to investors and was in fact unlikely to meet its pre-defined success criteria; (2) accordingly, Defendants overstated the clinical and/or commercial prospects of Bolt’s product pipeline, on which the Company primarily relies to sustain its business model; (3) all of the foregoing subjected the Company to a heightened risk of disruptive leadership transitions and substantial workforce reduction; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times

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If you purchased or otherwise acquired Bolt securities between February 5, 2021, and May 14, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected]

The deadline to apply to the Court to serve as a lead plaintiff in the Bolt lawsuit is September 2, 2024.

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