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Here’s the Reason Black Diamond Therapeutics, Inc. (BDTX) Stock is Rocketing Higher in the Premarket

Black Diamond Therapeutics, Inc. (BDTX) is a pioneer company engaged in the development of tumor-agnostic therapies by the production of MasterKey therapies. Some of the lead candidates of the company include BDTX-189 and BDTX-1535 used against several tumor types.

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The price of BDTX stock during the regular trading on January 10, 2022, was $4.50 with a significant decline of 11.76%. At last check in the premarket, the stock leaped by 17.56%.

BDTX: Events and Happenings

On January 11, 2022, BDTX reported about the clearance of company’s investigational new drug application for BDTX-1535 (MasterKey inhibitor) used in treating glioblastoma multiforme and non-small cell lung cancer. BDTX will start clinical trials for Phase 1 during first quarter of 2022 and will provide a clinical update in the second half of 2023. On January 10, 2022, BDTX reported about its strategic pipeline and expected upcoming milestones.

BDTX: CEO Comments

Speaking at the occasion, CEO of BDTX David Epstein said that the company produced genetically defined therapies for tumors where precision therapy is not accessible. He further added that the company submitted the IND application for BDTX-1535. He believes that the company is delivering an excellent pipeline through its MasterKey platform.

On January 05, 2022, BDTX reported that the company’s Executives will present at the Virtual J.P. Morgan 40th Annual Healthcare Conference being held on January 12, 2022. On November 08, 2021, BDTX reported that the company’s Executives presented at two virtual investor conferences namely The Stifel 2021 Healthcare Conference held on November 15, 2021 and The Jefferies London Healthcare Conference 2021 held on November 18, 2021.

BDTX: Key Financials

On November 08, 2021, BDTX reported its financial results for the third quarter ended September 30, 2021. Some of the key updates are as follows

Assets

Total assets reported for the company for Q3 2021 were $274.1 million.

Net Loss per Share

Basic and diluted net loss per share for third quarter 2021 was $35 million or $0.97 per share corresponding to the same period prior year when it was $17.9 million or $0.50 per share.

On October 08, 2021, BDTX reported that it presented the pre-clinical data of its pipeline drugs at the Virtual oral and poster platform of International Conference on Molecular Targets and Cancer Therapeutics.

Conclusion

BDTX stock is 59% down the last six months primarily because of prevailing pandemic state which halted the economic upbringing. The current premarket leap of the stock is a positive factor in attracting more milestones for the company in the form of crucial investments. The recent surge is the possible result of the company’s announcement regarding clearance of its IND application.

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