SHAREHOLDERS’ NOTICE: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Bolt Investors

James (Josh) Wilson, Securities Litigation Partner at Faruqi & Faruqi, LLP, encourages investors who suffered losses of more than $50,000 in Bolt to contact him directly to discuss their options.

If you suffered losses of more than $50,000 in Bolt between February 5, 2021 and May 14, 2024 and if you would like to discuss your legal rights, please call Faruqi & Faruqi Partner Josh Wilson direct bee 877-247-4292 or 212-983-9330 (extension 1310). You can also click here for additional information: www.faruqilaw.com/BOLT.

New York, New York–(Newsfile Corp. – August 9, 2024) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Bolt Biotherapeutics, Inc. (“Bolt” or the “Company”) (NASDAQ: BOLT) and reminds investors of the Deadline September 3, 2024 to serve as lead plaintiff in a federal securities class action lawsuit filed against the company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As set forth below, the Complaint alleges that the Company and its executives violated the federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) BDC-1001 was less effective than the Company represented to investors and was in fact unlikely to meet predefined success criteria; (2) accordingly, Defendants overstated the clinical and/or commercial prospects of Bolt’s product pipeline, upon which the Company primarily relies to sustain its business model; (3) all of the foregoing exposed the Company to an increased risk of disruptive leadership changes and substantial workforce reductions; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On May 14, 2024, Bolt announced in a press release that the company would “discontinue further development of trastuzumab imbotolimod (BDC-1001),” Bolt’s primary asset, “and reduce its workforce by approximately 50%.” Following Bolt’s announcement, multiple analysts downgraded the company’s shares.

On this news, Bolt’s stock price fell by $0.49 per share, or more than 37.12%, to close at $0.83 per share on May 15, 2024.

The Court-appointed Lead Plaintiff is the investor with the largest financial interest in the relief sought by the class who is sufficient and typical of class members who directs and conducts the litigation on behalf of the putative class. Any member of the putative class may petition the Court to serve as lead plaintiff through counsel of their choosing, or may elect to do nothing and remain an absent class member. Your ability to share in any recovery will not be affected by the decision to serve as lead plaintiff.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Bolt’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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To view the source version of this press release, visit https://www.newsfilecorp.com/release/219289