Black Diamond Therapeutics(US:BDTX)2025-11-06 12:12Financial Performance - License revenue for the nine months ended September 30, 2025, was $70,000,000, compared to $0 for the same period in 2024[19]. - Net income for the nine months ended September 30, 2025, was $37,483,000, a significant improvement from a net loss of $53,691,000 in the same period of 2024[21]. - The company reported a net loss of $8,498,000 for the three months ended September 30, 2025, compared to a loss of $15,557,000 for the same period in 2024[21]. - The company reported a comprehensive income of $37,601,000 for the nine months ended September 30, 2025, compared to a comprehensive loss of $53,557,000 in 2024[21]. - For the nine months ended September 30, 2025, the company recorded a net loss of $37,483 million, compared to a net loss of $53,691 million for the same period in 2024[66]. Assets and Liabilities - Total assets increased to $157,733,000 as of September 30, 2025, up from $122,640,000 as of December 31, 2024, representing a growth of 28.6%[18]. - Total liabilities decreased to $31,581,000 as of September 30, 2025, from $39,355,000 as of December 31, 2024, a reduction of 19.7%[18]. - Stockholders' equity increased to $126,152,000 as of September 30, 2025, up from $83,285,000 as of December 31, 2024, reflecting a growth of 51.5%[18]. - Total current assets increased to $138,992,000 as of September 30, 2025, from $101,176,000 as of December 31, 2024, representing a 37.2% increase[18]. - The total accrued expenses and other current liabilities as of September 30, 2025, were $14,570 million, a decrease from $16,566 million as of December 31, 2024[57]. Cash Flow - Cash flows from operating activities generated $36,401,000 for the nine months ended September 30, 2025, compared to cash used of $47,248,000 in 2024[24]. - Cash and cash equivalents decreased to $30,864,000 from $36,437,000, a decline of 15.5%[18]. - The company expects its cash, cash equivalents, and investments to fund operations for at least the next 12 months[33]. Research and Development - The company incurred research and development expenses of $14,482,000 for Silevertinib for the nine months ended September 30, 2025, compared to $17,349,000 in 2024[78]. - Research and development expenses for the nine months ended September 30, 2025, were $27,262,000, down 30.0% from $39,015,000 in the same period of 2024[19]. Licensing Agreements - The company received an upfront payment of $70 million from Servier Pharmaceuticals LLC under a global licensing agreement for BDTX-4933[31]. - The company is eligible to receive up to $710 million in development and commercial sales milestone payments from the Servier Agreement[31]. - The Company assessed the Servier Agreement under ASC 606, determining that the transaction price included fixed consideration of $70,000,000 recognized upon contract execution[81]. - During the nine months ended September 30, 2025, the Company recorded $70,000,000 in license revenue from the Servier Agreement, with no revenue recorded in the same period of 2024[84]. Stock and Compensation - The company reported a weighted average common shares outstanding of 56,799,755 for the nine months ended September 30, 2025, compared to 54,498,037 for the same period in 2024[19]. - The Company recorded stock-based compensation expense of $5,216 million for the nine months ended September 30, 2025, compared to $8,991 million for the same period in 2024[60]. - The total unrecognized compensation cost related to unvested stock options was $9.256 million, expected to be recognized over a weighted average period of 2.3 years[62]. Future Outlook - The company plans to seek additional funding through various means, including equity financings and collaborations[34]. - The company continues to monitor macroeconomic developments that may impact its business[39]. - The company has had recurring losses and negative cash flows from operations since inception[32].