Quarterly ResultMay 7, 2026, 07:22 AM
Black Diamond Q1 Net Loss $9.0M; Silevertinib Phase 2 Data at ASCO
AI Summary
Black Diamond Therapeutics reported a net loss of $9.0 million for the first quarter of 2026, a significant shift from the net income of $56.5 million in Q1 2025. The company ended the quarter with $118.3 million in cash, cash equivalents, and investments, which is projected to fund operations into the second half of 2028. Key corporate updates include an upcoming oral presentation of silevertinib Phase 2 data at the 2026 ASCO Annual Meeting and the dosing of the first patient in a Phase 2 trial for newly diagnosed EGFRvIII+ GBM.
Key Highlights
- Oral presentation of silevertinib Phase 2 data in frontline EGFRm NSCLC at 2026 ASCO Annual Meeting.
- First patient dosed in Phase 2 trial of silevertinib in newly diagnosed EGFRvIII+ GBM.
- Q1 2026 net loss was $9.0 million, compared to net income of $56.5 million in Q1 2025.
- Cash, cash equivalents, and investments totaled $118.3 million as of March 31, 2026.
- Research and development expenses decreased to $7.0 million from $10.5 million YoY.
- General and administrative expenses decreased to $4.3 million from $5.0 million YoY.
- Cash runway expected to fund operations into the second half of 2028.
- Net loss per share was $(0.16) for Q1 2026, compared to $1.00 net income per share in Q1 2025.