Black Diamond Therapeutics Reports Q1 2025 Results: Net Income Surges to $56.5M, R&D Expenses Decrease

Reuters
05-13
Black Diamond <a href="https://laohu8.com/S/LENZ">Therapeutics</a> Reports Q1 2025 Results: Net Income Surges to $56.5M, R&D Expenses Decrease

Black Diamond Therapeutics Inc. has reported financial results for the first quarter ending March 31, 2025, along with a corporate update. The company posted a net income of $56.5 million for the first quarter of 2025, a significant turnaround from a net loss of $18.2 million during the same period in 2024. General and administrative expenses decreased to $5.0 million from $6.7 million in the previous year, attributed to a restructuring initiative announced in October 2024. Research and development expenses also saw a decline, amounting to $10.5 million compared to $13.5 million in 2024, due to improved workforce efficiencies and a strategic focus on the development of BDTX-1535. Black Diamond ended the first quarter of 2025 with $152.4 million in cash, cash equivalents, and investments, up from $98.6 million as of December 31, 2024. The company also highlighted a net cash inflow from operations, with $53.4 million provided in the first quarter of 2025, contrasting with a $21.2 million cash outflow during the same period the previous year. Significant developments include the ongoing Phase 2 trial enrollment for BDTX-1535, targeting newly diagnosed patients with non-classical epidermal growth factor receptor mutant (EGFRm) non-small cell lung cancer (NSCLC). Black Diamond plans to release initial clinical data for this trial in the fourth quarter of 2025 and seek FDA feedback for a potential pivotal registrational path. Additionally, the recent global licensing agreement with Servier for BDTX-4933 has bolstered the company's cash position, extending its financial runway into the fourth quarter of 2027. Black Diamond is poised to commence pivotal development of BDTX-1535 in the first half of 2026, pending FDA feedback.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Black Diamond Therapeutics Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9447658-en) on May 12, 2025, and is solely responsible for the information contained therein.

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