Black Diamond rises as FDA clears cancer drug for clinical trials

Black Diamond Therapeutics

11/01/2022 13:30

** Shares of cancer drug developer Black Diamond
Therapeutics Inc  BDTX.O  up ~18% at $5.33 premarket
    ** U.S. FDA clears co's application to start human trials
for drug candidate, BDTX-1535, being developed to inhibit a type
of mutated protein expressed in glioblastoma multiforme (GBM)
and in a type of lung cancer  urn:newsml:reuters.com:*:nGNX353sM6 
    ** GBM is an aggressive type of cancer that occurs in the
brain or spinal cord and can cause worsening headaches, nausea,
vomiting and seizures
    ** Co expects to start an early-stage study of BDTX-1535 in
Q1 of 2022 and expects to provide a clinical update in H2 of
2023
    ** Six of 7 brokerages rate the stock "buy" or higher and 1
"hold" ; their median PT is $33 - Refinitiv
    

 (Reporting by Oishee Majumdar in Bengaluru)
 ((oishee.majumdar@thomsonreuters.com;))