Bolt throws a wrench in the pipeline, looking to conserve cash

12 Aug 2022
endpts.com
AntibodyCollaborate
A meltdown in the biotech market is making most execs cautious, including Bolt Biotherapeutics’ CEO, as the company hits the brakes on one preclinical asset and pauses other early-stage work to extend cash reserves by two years. The pipeline re-org will keep Bolt’s lights on through 2025 so the biotech can focus on its clinical-stage HER2 solid tumor drug candidate, which the company should have early-stage data on and a recommended Phase II dose by year’s end. The biotech also wants to focus on its preclinical asset BDC-3042, an immune-stimulating antibody conjugate (ISAC), for KRAS and TP53 mutated tumors. That means Bolt has flashed the red light on BDC-2034, which targets carcinoembryonic antigen cell adhesion molecule 5 (CEA). Bolt’s decision to discontinue BDC-2034 was based on off-target toxicity related to the targeting antibody. The company had previously planned for BDC-2034 to enter the clinic in 2023. SVB Securities analyst Daina Graybosch noted on Aug. 11 that “the discontinuation is another illustration that immunostimulatory antibody-drug conjugation (ISAC) is a difficult drug platform, and we expect extensive product iteration and back-translation will be required in this nascent stage of ISAC development.” The company will bring in a heavy focus on BDC-1001 and BDC-3042 going forward. BDC-1001, an antibody conjugate drug, is designed to ramp up the body’s innate immune system response to tumors. Last year, the company had posted a single partial response in a Phase I/II study in patients with HER2-expressing solid tumorsHER2-expressing solid tumors after a year of dosing. Just 13 of 40 evaluable patients showed any signs of “clinical activity,” the biotech had said. The drug is being tested as a monotherapy and in combination Opdivo, Bristol Myers Squibb’s checkpoint inhibitor, Bolt said. BDC-3042, on the other hand, is a myeloid modulating agonist antibody that “reawakens” myeloid cells to attack cancer cells. The drug binds to Dectin-2, a novel cell surface protein on macrophages, which causes the production of pro-inflammatory cytokines. The company hopes to enter human trials with the drug next year. “We have a lot to look forward to with strong investigator and collaborator interest in our programs, data readouts from the BDC-1001 monotherapy and combination dose-escalation studies on the horizon as well as the advancement of BDC-3042 through IND-enabling activities,” Bolt CEO Randall Schatzman added. The company reported $1.4 million in revenue for this quarter — a result of collaborations with Genmab and Innovent Biologics — compared to $0 from the same period in 2021. Bolt had $223.6 million as of June 30.
For more details,please visit the original website
The content of the article does not represent any opinions of Synapse and its affiliated companies. If there is any copyright infringement or error, please contact us, and we will deal with it within 24 hours.
Organizations
Indications
Targets
Drugs
Get started for free today!
Accelerate Strategic R&D decision making with Synapse, PatSnap’s AI-powered Connected Innovation Intelligence Platform Built for Life Sciences Professionals.
Start your data trial now!
Synapse data is also accessible to external entities via APIs or data packages. Leverages most recent intelligence information, enabling fullest potential.