Black Diamond Therapeutics I · Q2 2023 earnings

Briefing

Reported initial clinical data from Phase 1 trial of BDTX-1535, initiated BDTX-1535 NSCLC expansion cohorts, and closed an underwritten public offering.

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.

Headline financials

Revenue & EPS history

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.