Black Diamond Therapeutics Reports First Quarter 2025 Financial Results and Provides Corporate Update

Core Viewpoint - Black Diamond Therapeutics reported strong financial results for Q1 2025, highlighting a significant net income and a robust cash position, while advancing its clinical trials for BDTX-1535 and BDTX-4933 [1][15]. Corporate Developments - The company is executing enrollment in the Phase 2 trial for BDTX-1535 targeting newly diagnosed patients with EGFRm NSCLC, with a clinical update expected in Q4 2025 [2][6]. - A global licensing agreement with Servier for BDTX-4933 was announced, providing an upfront payment of $70 million and potential milestone payments up to $710 million, along with tiered royalties based on global net sales [4][8]. Financial Highlights - As of March 31, 2025, Black Diamond had cash, cash equivalents, and investments totaling $152.4 million, a significant increase from $98.6 million at the end of 2024, which is expected to fund operations into Q4 2027 [6][10]. - The company reported a net income of $56.5 million for Q1 2025, compared to a net loss of $18.2 million for the same period in 2024 [15][19]. - Research and development expenses decreased to $10.5 million in Q1 2025 from $13.5 million in Q1 2024, attributed to workforce efficiencies [8][9]. Clinical Developments - Initial Phase 2 clinical data for BDTX-1535 in newly diagnosed patients with non-classical EGFRm NSCLC is expected to be disclosed in Q4 2025 [7]. - The Phase 0/1 trial of BDTX-1535 was expanded into newly diagnosed glioblastoma patients with EGFR alterations, showing promising pharmacokinetic and safety data [6][7].