Black Diamond Therapeutics, Inc. ( (BDTX) ) has released its Q3 earnings. Here is a breakdown of the information Black Diamond Therapeutics, Inc. presented to its investors.
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Black Diamond Therapeutics, Inc. is a clinical-stage oncology company specializing in developing MasterKey therapies to target families of oncogenic mutations in cancer patients, aiming to overcome resistance and treat central nervous system diseases.
In its third-quarter 2024 financial results, Black Diamond Therapeutics reported promising initial data from its Phase 2 trial of BDTX-1535 in patients with relapsed/refractory EGFR mutant non-small cell lung cancer (NSCLC). The company has also presented insights into real-world treatment practices and outcomes in newly diagnosed NSCLC patients with non-classical EGFR mutations.
The company’s financial performance highlights include a cash position of $112.7 million at the end of the third quarter, with a reduction in net loss from $23.0 million in the third quarter of 2023 to $15.6 million in the same period of 2024. The decrease in expenses was attributed to workforce efficiencies and reduced spending in early discovery projects, while the company plans to focus on its lead program, BDTX-1535, having deprioritized its BDTX-4933 program.
Looking forward, Black Diamond Therapeutics plans to provide further clinical updates on BDTX-1535 in the first quarter of 2025, along with regulatory feedback regarding its potential registrational path in relapsed/refractory EGFRm NSCLC. The company expects its current cash reserves to support operations into the second quarter of 2026.
