Black Diamond Therapeutics reports Q3 net loss of $15.6M; BDTX-1535 Phase 2 data

Black Diamond Therapeutics, Inc.

2024-Q3 EPS reported -$0.99

Net loss of $15.6M in Q3 2024 vs $23.0M in Q3 2023; cash and investments $112.7M, sufficient into Q2 2026.
R&D expenses decreased to $12.9M from $16.2M YoY due to workforce efficiencies and reduced early discovery.
Announced restructuring in Oct 2024 to prioritize BDTX-1535 and extend cash runway; deprioritized BDTX-4933.
Initial Phase 2 data for BDTX-1535 in EGFRm NSCLC: 42% ORR in 19 patients with osimertinib resistance mutations; DOR ~8+ months in first 3 PRs.
Expects to disclose initial Phase 2 data in first-line and updated recurrent setting data plus FDA feedback in Q1 2025.

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