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Jun 30, 2020
Black Diamond Therapeutics Q2 2020 Earnings Report
Reported financial results for the second quarter and provided a corporate update.
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