Business
Black Diamond Therapeutics Reports First Quarter 2022 Financial Results and Provides Corporate Update
Dosed first patient in Phase 1 Study of BDTX-1535 for the treatment of glioblastoma multiforme (GBM) and non-small cell lung cancer (NSCLC) including those
About this update from Black Diamond Therapeutics, Inc.
[{"type":"text","content":"Dosed first patient in Phase 1 Study of BDTX-1535 for the treatment of glioblastoma multiforme (GBM) and non-small cell lung cancer (NSCLC) including those with central nervous system (CNS) tumors; clinical update expected in 2023Continued strategic focus on development of BDTX-1535, BDTX-4933 and MAP drug discovery engine enabled small molecule drug discovery effortsFinancial position strengthened and cash runway extended into third quarter of 2024; cash, cash equivalents, and investments of approximately $179.7 million as of March 31, 2022 CAMBRIDGE, Mass. and NEW YORK, May 11, 2022 (GLOBE NEWSWIRE) -- Black Diamond Therapeutics, Inc. (Nasdaq: BDTX), a precision oncology medicine company pioneering the discovery and development of MasterKey therapies, today reported financial results for the first quarter ended March 31, 2022 and provided a corporate update. “We continue to build a pipeline of novel MasterKey therapies with our product candidates, including BDTX-1535 and BDTX-4933, and we are focused on delivering development candidates generated from our MAP drug discovery engine as we work to address major unmet needs of oncology patients. With our recently announced pipeline prioritization and realignment of resources to strengthen our financial position, we believe Black Diamond is well-positioned for strong execution across our upcoming clinical and preclinical milestones into the third quarter of 2024,” said David Epstein, Ph.D., President and Chief Executive Officer of Black Diamond Therapeutics. “We are incredibly pleased with the pace at which our BDTX-1535 Phase 1 study has been advancing with the recently announced first patient dosed. This next generation brain-penetrant inhibitor of oncogenic EGFR represents a unique opportunity to potentially address existing gaps in the treatment landscape for patients with EGFR mutant NSCLC and GBM and we look forward to providing a clinical update for the program in 2023.” Recent Developments BDTX-1535: BDTX-1535 is designed as a potent, selective, irreversible and brain-penetrant MasterKey inhibitor of epidermal growth factor receptor (EGFR) mutations expressed in GBM and of intrinsic and acquired resistance EGFR mutations to third generation EGFR inhibitors in NSCLC.In April 2022, the first patient was dosed in the Phase 1, global study of BDTX-1535.The Company expects to pr...