Why Bolt Biotherapeutics Stock Crashed Today

Shares of Bolt Biotherapeutics (NASDAQ: BOLT) crashed 55.8% on Monday. The steep decline came after the company presented interim data from a phase 1/2 study evaluating BDC-1001 at the European Society for Medical Oncology Immuno-Oncology (ESMO I-O) Congress that's being held virtually this week.

Bolt stated that the results were "encouraging." The company reported that early signs of clinical activity were observed in 13 out of 40 evaluable patients with advanced HER2-expressing solid tumors.

So why did the biotech stock plunge? While Bolt said that several participants achieved stable disease, only one had a durable partial response maintained through 52 weeks.

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Source Fool.com