Loading...
•
Mar 31, 2023
Black Diamond Therapeutics Q1 2023 Earnings Report
Black Diamond Therapeutics reported financial results for Q1 2023 and provided a corporate update.
Key Takeaways
Black Diamond Therapeutics reported a net loss of $20.9 million for the first quarter of 2023, with cash, cash equivalents, and investments totaling $103.4 million. The company is focused on advancing its pipeline programs, BDTX-1535 and BDTX-4933, and expects its current cash reserves to fund operations into the third quarter of 2024.
On track to provide clinical update from dose-escalation portion of Phase 1 clinical trial of EGFR MasterKey inhibitor BDTX-1535 in the second half of 2023; Dose Expansion cohorts expected to open in 2023.
FDA clearance of IND application for BDTX-4933, RAF MasterKey inhibitor; Anticipate first patient dosing in the second quarter of 2023.
Nominated development candidate, BDTX-4876, for FGFR 2/3 selective inhibitor program; Company to evaluate strategic alternatives for this program.
Cash, cash equivalents, and investments of $103.4 million as of March 31, 2023; Expected to be sufficient to fund operations into the third quarter of 2024.
Black Diamond Therapeutics
Black Diamond Therapeutics
Forward Guidance
Black Diamond expects that its cash, cash equivalents, and investments of $103.4 million will be sufficient to fund its anticipated operating expenses and capital expenditure requirements into the third quarter of 2024.