Black Diamond Therapeutics Reports Second Quarter 2024 Financial Results and Provides Corporate Update

Core Insights - Black Diamond Therapeutics is on track to announce initial Phase 2 data for BDTX-1535 in second/third-line patients with EGFR mutant non-small cell lung cancer (NSCLC) in Q3 2024 and in first-line patients in Q1 2025 [1][2] - The company has a cash position of approximately $123.0 million as of June 30, 2024, which is expected to fund operations into Q4 2025 [1][7] Upcoming Milestones - Initial Phase 2 data for BDTX-1535 in 2L/3L EGFRm NSCLC patients is expected later in Q3 2024 [3] - Initial Phase 2 data for BDTX-1535 in 1L EGFRm NSCLC patients is anticipated in Q1 2025 [3] - An abstract titled "Real World Evidence of Treatment Practices and Therapeutic Outcomes for Newly Diagnosed NSCLC Patients with Non-classical EGFR Mutations Demonstrates High Unmet Medical Need" will be presented at the 2024 ESMO Congress [3] Financial Highlights - Cash, cash equivalents, and investments decreased from $131.4 million as of December 31, 2023, to $123.0 million as of June 30, 2024 [6][11] - Research and development expenses for Q2 2024 were $12.6 million, down from $13.2 million in Q2 2023, attributed to workforce efficiencies [6][12] - General and administrative expenses increased to $9.6 million in Q2 2024 from $6.9 million in Q2 2023, primarily due to higher consulting and professional fees [6][12] Company Overview - Black Diamond Therapeutics is focused on developing MasterKey therapies targeting oncogenic mutations in cancer patients, with two main programs: BDTX-1535 for EGFR mutant NSCLC and GBM, and BDTX-4933 for KRAS, NRAS, and BRAF alterations [1][8]