Black Diamond Therapeutics Q2 2020 Earnings Report
Key Takeaways
Black Diamond Therapeutics reported financial results for the second quarter ended June 30, 2020. The company's cash, cash equivalents, and investments totaled $345.0 million. R&D expenses were $10.2 million, and G&A expenses were $4.9 million.
Obtained U.S. FDA Fast Track designation for BDTX-189 for the treatment of adult patients with a solid tumor harboring an allosteric HER2 mutation or an EGFR or HER2 Exon 20 insertion mutation
Continued to enroll and dose patients in Phase 1/2 clinical trial of BDTX-189, with Phase 1 portion on track to complete by first half of 2021
Strengthened executive team with the appointment of Fang Ni, Pharm.D., as Chief Business Officer
Cash, cash equivalents, and investments of $345.0 million as of June 30, 2020, believed to be sufficient to fund operations into 2023