Black Diamond Therapeutics Q2 net loss narrows year over year

Black Diamond Therapeutics

05/08/2026 21:08

Overview
US oncology developer's Q2 net loss narrowed yr/yr
Company presented positive Phase 2 silevertinib results in NSCLC at ASCO 2026
Cash position expected to fund operations into 2H 2028

Outlook
Company expects to provide an update on silevertinib Phase 2 trial and FDA feedback in Q4 2026
Company expects to initiate randomized portion of silevertinib Phase 2 trial in GBM in Q4 2026
Black Diamond expects cash and investments to fund operations into 2H 2028

Result Drivers
CLINICAL TRIAL PROGRESS - Co said positive Phase 2 silevertinib results in non-classical EGFR-mutant NSCLC, including high CNS response rates and no new brain metastases, drove clinical momentum
R&D EXPENSES - Decrease in R&D expenses attributed to progression of silevertinib NSCLC trial, partially offset by increased spend on GBM trial
SAFETY PROFILE - No new safety signals for silevertinib; severe adverse event rate reduced after dose reduction, with maintained or deepened responses

Company press release: ID:nGNX3Bdhsd

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Net Loss
 
$9.91 mln
 
Q2 Income From Operations
 
-$12.06 mln
 
Q2 Loss Per Basic Share
 
$0.17
 
Q2 Operating Expenses
 
$12.06 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Black Diamond Therapeutics Inc is $9.00, about 405.6% above its August 4 closing price of $1.78

Reuters Recommended Reads
Aug 5 - Entrada Therapeutics Q2 net loss narrows on lower costs
Aug 5 - Immuneering expects cash runway to fund operations into 2029
Aug 4 - Dianthus Therapeutics Q2 net loss widens as R&D costs rise

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)