$BDTX

Black Diamond Therapeutics, Inc.

CIK:0001701541|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Statement of Comprehensive Income [Abstract]
License revenue	$ 0	$ 0	$ 0	$ 70,000
Operating expenses:
Research and development	7,393	9,319	14,396	19,825
General and administrative	4,664	4,101	8,920	9,065
Total operating expenses	12,057	13,420	23,316	28,890
Income (loss) from operations	(12,057)	(13,420)	(23,316)	41,110
Other income (expense):
Interest income	922	1,118	1,945	1,713
Other income (expense)	1,230	1,741	2,430	3,158
Total other income (expense), net	2,152	2,859	4,375	4,871
Net income (loss)	$ (9,905)	$ (10,561)	$ (18,941)	$ 45,981
Net income (loss) per share, basic (in dollars per share)	$ (0.17)	$ (0.19)	$ (0.33)	$ 0.81
Net income (loss) per share, diluted (in dollars per share)	$ (0.17)	$ (0.19)	$ (0.33)	$ 0.80
Weighted average common shares outstanding, basic (in shares)	57,367,283	56,803,450	57,300,718	56,734,010
Weighted average common shares outstanding, diluted (in shares)	57,367,283	56,803,450	57,300,718	57,474,118
Comprehensive income (loss):
Net income (loss)	$ (9,905)	$ (10,561)	$ (18,941)	$ 45,981
Other comprehensive income (loss):
Unrealized gain (loss) on investments, net	(32)	(6)	(169)	(49)
Comprehensive income (loss)	$ (9,937)	$ (10,567)	$ (19,110)	$ 45,932

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income (loss)	$ (9,905)	$ (10,561)	$ (18,941)	$ 45,981
Adjustment to reconcile net income (loss) to net cash used in operating activities:
Stock-based compensation expense			2,958	3,477
Depreciation expense	28	86	55	173
(Accretion) amortization on investments			(332)	(838)
(Gain) Loss on sale of investments			0	(3)
Noncash rent expense			1,096	1,549
(Gain) Loss on sale of equipment			0	(23)
Changes in current assets and liabilities:
Prepaid expenses and other current assets			(963)	(573)
Other non-current assets			(212)	88
Accounts payable			825	(3,236)
Accrued expenses and other current liabilities			(713)	(532)
Non-current operating lease liabilities			(1,973)	(1,812)
Net cash provided by (used in) operating activities			(18,200)	44,251
Cash flows from investing activities:
Proceeds from sale of equipment			0	23
Proceeds from sales and maturities of investments			34,500	62,583
Purchases of investments			(18,124)	(113,212)
Net cash provided by (used in) investing activities			16,376	(50,606)
Cash flows from financing activities:
Proceeds from exercise of common stock options and ESPP, net of restricted stock surrendered for taxes			32	(84)
Net cash provided by (used in) financing activities			32	(84)
Net (decrease) increase in cash and cash equivalents			(1,792)	(6,439)
Cash, cash equivalents and restricted cash, beginning of period			21,819	37,256
Cash, cash equivalents and restricted cash, end of period	20,027	30,817	20,027	30,817
Cash, cash equivalents and restricted cash, end of period
Cash and cash equivalents, end of period	19,194	29,993	19,194	29,993
Restricted cash, end of period	833	824	833	824
Cash, cash equivalents and restricted cash, end of period	$ 20,027	$ 30,817	$ 20,027	$ 30,817

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 19,194	$ 20,990
Investments	91,312	107,662
Prepaid expenses and other current assets	4,888	3,788
Total current assets	115,394	132,440
Property and equipment, net	310	365
Restricted cash	833	829
Right-of-use assets	8,207	9,303
Other non-current assets	285	73
Total assets	125,029	143,010
Current liabilities:
Accounts payable	1,404	579
Accrued expenses and other current liabilities	14,439	15,152
Total current liabilities	15,843	15,731
Non-current operating lease liabilities	13,095	15,068
Total liabilities	28,938	30,799
Commitments and contingencies (Note 11)
Stockholders' equity:
Preferred stock, $0.0001 par value; 10,000,000 shares authorized at June 30, 2026 and December 31, 2025; no shares issued or outstanding at June 30, 2026 and December 31, 2025	0	0
Common stock; $0.0001 par value; 500,000,000 shares authorized at June 30, 2026 and December 31, 2025; 57,446,349 shares issued and outstanding at June 30, 2026 and 57,138,057 shares issued and outstanding at December 31, 2025	8	8
Additional paid-in capital	579,832	576,842
Accumulated other comprehensive (loss) income	(68)	101
Accumulated deficit	(483,681)	(464,740)
Total stockholders' equity	96,091	112,211
Total liabilities and stockholders' equity	$ 125,029	$ 143,010