CAMBRIDGE, Mass. — May 07, 2026 — Leads & Copy — Black Diamond Therapeutics, Inc. (Nasdaq: BDTX) reported its first quarter financial results and provided a corporate update, highlighting progress with its silevertinib therapy and upcoming presentations at the 2026 ASCO Annual Meeting.
The clinical-stage oncology company, which focuses on developing MasterKey therapies targeting oncogenic mutations, announced that data from the Phase 2 trial of silevertinib in frontline EGFRm NSCLC patients will be presented at the ASCO meeting later this month. Additionally, the first patient has been dosed in the Phase 2 trial of silevertinib in patients with newly diagnosed EGFRvIII+ GBM.
Black Diamond’s President and CEO, Mark Velleca, M.D., Ph.D., emphasized the company’s focus on advancing silevertinib into pivotal development. He noted the upcoming oral presentation at the ASCO Annual Meeting will highlight the potential of silevertinib for frontline EGFRm NSCLC patients, and the initiation of a randomized Phase 2 trial in newly diagnosed EGFRvIII+ GBM.
Black Diamond announced the following presentations at the upcoming 2026 American Society of Clinical Oncology (ASCO) Annual Meeting from May 29 – June 2, 2026, in Chicago:
May 30, 2026, 1:15 PM-2:45 PM CDT: Oral presentation on updated clinical data from the Phase 2 trial in patients with non-classical EGFRm NSCLC in the frontline setting, including preliminary duration of response (DOR) and progression-free survival (PFS) data (Abstract: 8519).
May 31, 2026, 9:00 AM-12:00 PM CDT: Poster presentation on the Phase 2 data of silevertinib in recurrent EGFRm NSCLC patients (Abstract: 8620).
June 1, 2026, 1:30 PM-4:30 PM CDT: Trial-in-progress poster on the randomized Phase 2 trial of silevertinib in patients with newly diagnosed EGFRvIII-positive GBM (Abstract: TPS2098).
The company’s financial position includes $118.3 million in cash, cash equivalents, and investments as of March 31, 2026. Black Diamond believes these funds will be sufficient to support operations into the second half of 2028. The net cash used in operations for the first quarter of 2026 was $10.2 million, compared to net cash provided by operations of $53.4 million for the same period in 2025.
Research and development expenses for the first quarter of 2026 were $7.0 million, a decrease from $10.5 million in the same period of 2025. This decrease is attributed to the progression of the Phase 2 clinical trial for silevertinib in NSCLC and the outlicensing of BDTX-4933.
General and administrative expenses were $4.3 million for the first quarter of 2026, down from $5.0 million in the same period of 2025, due to operational efficiencies. Black Diamond reported a net loss of $9.0 million for the first quarter of 2026, compared to a net income of $56.5 million for the same period in 2025.
Black Diamond Therapeutics is focused on developing MasterKey therapies to treat cancer by targeting families of oncogenic mutations. Silevertinib, their primary therapy, is a brain-penetrant fourth-generation EGFR MasterKey inhibitor being developed for EGFR-mutant NSCLC and GBM.
Source: Black Diamond Therapeutics
