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Jun 30, 2023
Black Diamond Therapeutics Q2 2023 Earnings Report
Reported initial clinical data from Phase 1 trial of BDTX-1535, initiated BDTX-1535 NSCLC expansion cohorts, and closed an underwritten public offering.
Key Takeaways
Black Diamond Therapeutics reported positive initial clinical data for BDTX-1535 and initiated NSCLC expansion cohorts. The company's cash position was strengthened by a recent public offering, providing funding into the first half of 2025.
Announced initial clinical data from the dose-escalation portion of the Phase 1 clinical trial of BDTX-1535, demonstrating a favorable tolerability profile and clinical proof of activity.
Initiated BDTX-1535 NSCLC expansion cohorts in July 2023.
In July 2023, Black Diamond closed an underwritten public offering of 15,000,000 shares, resulting in gross proceeds of approximately $75.0 million.
Cash, cash equivalents, and investments totaled $89.5 million as of June 30, 2023, expected to fund operations into the first half of 2025.
Black Diamond Therapeutics
Black Diamond Therapeutics
Forward Guidance
Black Diamond believes that the net proceeds from the Follow-on Offering, together with its existing cash, cash equivalents and investments, will enable the Company to fund its operating expenses and capital expenditure requirements into the first half of 2025.