Bolt Biotherapeutics, Inc.

AI-generated fair value estimate for this company.

Method: Risk-adjusted NPV (rNPV) of remaining ADC pipeline plus net cash: $300M assumed peak annual sales for the lead partnered antibody-drug-conjugate program; 3x peak-sales NPV multiple; 5% probability of success (early-stage, reflecting going-concern and pipeline-prioritization risk); discounted 8 years to launch at a 15% rate; plus -$4.02M current net debt; 1.93M shares outstanding (post reverse split).

Reasoning: Bolt Biotherapeutics is a clinical-stage biotech with modest collaboration revenue but heavy losses and negative net cash, so intrinsic value is driven mainly by the option value of its remaining ADC pipeline rather than current cash flow; a low probability of success and high discount rate reflect the company's going-concern and pipeline-narrowing risk.