Quarterly ResultMay 7, 2026, 07:26 AM
Black Diamond Therapeutics Q1 Net Loss $9.04M; No License Revenue
AI Summary
Black Diamond Therapeutics reported a net loss of $9.04 million for the first quarter of 2026, a significant decline from a net income of $56.54 million in the same period last year. This shift is primarily due to the absence of license revenue in Q1 2026, compared to $70.0 million received in Q1 2025 from the Servier Agreement. The company's cash and cash equivalents stood at $30.07 million, and it expects its current cash to fund operations for at least the next 12 months.
Key Highlights
- Net loss for Q1 2026 was $(9.04) million, compared to net income of $56.54 million in Q1 2025.
- License revenue was $0 in Q1 2026, down from $70.0 million in Q1 2025.
- Research and development expenses decreased to $7.00 million from $10.51 million year-over-year.
- General and administrative expenses decreased to $4.26 million from $4.96 million year-over-year.
- Cash and cash equivalents totaled $30.07 million as of March 31, 2026.
- Total current assets were $122.97 million as of March 31, 2026.
- Accumulated deficit increased to $(473.78) million as of March 31, 2026.
- Company expects existing cash to fund operations for at least the next 12 months.
Price Impact
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