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Dec 31, 2022
Black Diamond Therapeutics Q4 2022 Earnings Report
Reported financial results for the fourth quarter and full year ended December 31, 2022, and provided a corporate update.
Key Takeaways
Black Diamond Therapeutics reported a net loss of $21.1 million for Q4 2022, compared to a net loss of $25.9 million for the same period in 2021. The company's cash, cash equivalents, and investments totaled $122.8 million as of December 31, 2022, expected to fund operations into the third quarter of 2024. They are on track to provide a clinical update from dose-escalation portion of Phase 1 clinical trial of EGFR MasterKey inhibitor BDTX-1535 in the second half of 2023.
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.
FDA clearance of IND application for BDTX-4933 in the first quarter of 2023, a brain-penetrant RAF MasterKey inhibitor; initiation of Phase 1 clinical trial expected in the first half of 2023.
Presented new preclinical data demonstrating the potential of MasterKey programs BDTX-1535 and BDTX-4933 at the 34th EORTC-NCI-AACR Symposium.
Cash, cash equivalents, and investments of $122.8 million as of December 31, 2022; expected to be sufficient to fund operations into the third quarter of 2024
Forward Guidance
Black Diamond expects 2023 to be a catalyst rich year. Black Diamond ended 2022 with approximately $122.8 million in cash, cash equivalents and investments, which the Company believes is sufficient to fund its anticipated operating expenses and capital expenditure requirements into the third quarter of 2024. They anticipate a clinical update for BDTX-1535 in the second half of 2023. They also expect to initiate the Phase 1 clinical trial of BDTX-4933 in the first half of this year and to progress their FGFR program and another undisclosed program toward development candidate nominations in 2023.
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