Lake Street initiated coverage of Bolt Biotherapeutics (BOLT) with a Buy rating and $4 price target. Bolt has developed next-generation Immune-Stimulating Antibody Conjugates, or ISACs, with optimized conjugation chemistry that have enhanced activity against even lower levels of tumor antigen, the analyst tells investors. Bolt’s lead next-generation ISAC, BDC-4182, has a Phase I clinic trial that is expected to start enrolling patients this quarter and Bolt has deals with Genmab (GMAB) and Toray that fund additional ISACs through early clinical development, the analyst noted.
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