Business
Black Diamond Therapeutics Reports Third Quarter 2020 Financial Results and Provides Corporate Update
Continued to enroll and dose patients in Phase 1/2 clinical trial of BDTX-189, with Phase 1 portion on track to complete by first half of 2021Strengthened
About this update from Black Diamond Therapeutics, Inc.
[{"type":"text","content":"Continued to enroll and dose patients in Phase 1/2 clinical trial of BDTX-189, with Phase 1 portion on track to complete by first half of 2021Strengthened Board of Directors with appointment of Robert A. Ingram as ChairmanBolstered executive team with appointment of Rachel Humphrey, M.D., as Chief Medical Officer Cash, cash equivalents, and investments of $333.1 million as of September 30, 2020, expected to be sufficient to fund operations into 2023 CAMBRIDGE, Mass. and NEW YORK, Nov. 10, 2020 (GLOBE NEWSWIRE) -- Black Diamond Therapeutics, Inc. (Nasdaq: BDTX), a precision oncology medicine company pioneering the discovery and development of small molecule, tumor-agnostic therapies, today reported financial results for the third quarter ended September 30, 2020 and provided a corporate update.\n “At Black Diamond, we are leveraging our proprietary MAP platform to pioneer a differentiated approach to drug development, in which we aggregate novel oncogenic driver mutations into druggable families enabling the design of potent and selective MasterKey inhibitor product candidates,” said David M. Epstein, Ph.D., President and Chief Executive Officer of Black Diamond Therapeutics. “This MasterKey profile extends not only to our lead product candidate BDTX-189, which is currently progressing through Phase 1/2 clinical development, but also throughout our early-stage pipeline. We believe the addition of Rachel Humphrey to our executive team to shepherd these programs through the clinic, as well as the appointment of Bob Ingram as Chairman of our Board to lend his leadership and industry expertise, will enable us to realize the potential of our science and to deliver precision medicines to patients who currently lack targeted treatment options.” Recent Developments Black Diamond continued to enroll and dose patients in the MasterKey-01 study, a Phase 1/2 clinical trial of BTDX-189. The Company remains on track to complete the Phase 1 portion of the trial in the first half of 2021.In October 2020, Black Diamond presented pre-clinical data on BDTX-189 at the 32nd Annual EORTC-NCI-AACR Virtual Symposium: In cell-based assays, BDTX-189 achieved potent inhibition of 48 ErbB mutant variants, including the family of epidermal growth factor receptor (EGFR) and human epidermal growth factor receptor 2 (HER2) Exon 20 insertion mutations, while mai...