Black Diamond CFO Fang Ni, CPO Elizabeth Montgomery to depart in restructuring

Black Diamond Therapeutics announced a corporate restructuring in an effort to focus resources on advancing lead program BDTX-1535 into pivotal development, and to extend the company’s expected cash runway into Q2 2026. BDTX-1535 has demonstrated Phase 2 clinical activity across a broad spectrum of epidermal growth factor receptor mutations, or EGFRm, in patients with recurrent non-small cell lung cancer, or NSCLC. In Q1 2025, Black Diamond anticipates sharing initial Phase 2 data for BDTX-1535 in the frontline setting for patients with EGFRm NSCLC. Also in Q1, the company plans to present updated Phase 2 results for BDTX-1535 in patients with recurrent EGFRm NSCLC and a potential registration path in the recurrent setting based on feedback from the FDA. Black Diamond is actively seeking partnerships as it deprioritizes its BDTX-4933 program in RAF/RAS-mutant solid tumors. To enable focused investment in BDTX-1535, Black Diamond has also taken steps to optimize operations, including a reduction in force, while retaining core drug development and management expertise. As part of the restructuring, chief business officer and CFO Fang Ni and chief people officer, or CPO, Elizabeth Montgomery are departing the company. Erika Jones, senior VP of finance and principal accounting officer, has been appointed principal financial officer of the company. Cost savings from the restructuring and other actions described above are expected to be sufficient to fund operations into Q2 2026.