Black Diamond Reports $9M Q1 Loss, $118M Cash and First EGFRvIII+ GBM Patient Dosed
BDTX•Black Diamond Therapeutics ended Q1 2026 with $118.3 million in cash and investments, reduced R&D spending to $7.0 million from $10.5 million and G&A costs to $4.3 million, but recorded a $9.0 million net loss versus $56.5 million net income in Q1 2025. The company dosed its first patient in the Phase 2 EGFRvIII+ GBM trial and will present frontline EGFRm NSCLC Phase 2 data, including preliminary duration of response and progression-free survival, at ASCO.
1. Q1 2026 Financial Results
Black Diamond ended Q1 2026 with $118.3 million in cash, cash equivalents and investments compared to $128.7 million at December 31, 2025, and used $10.2 million in net cash from operations. R&D expenses declined to $7.0 million from $10.5 million and G&A expenses fell to $4.3 million, leading to a $9.0 million net loss versus $56.5 million net income in Q1 2025.
2. Phase 2 Clinical Developments
In May 2026 the company dosed its first patient in the randomized Phase 2 trial combining silevertinib with temozolomide for newly diagnosed EGFRvIII-positive glioblastoma. This safety lead-in follows initiation of pivotal development of silevertinib in frontline EGFR-mutant NSCLC.
3. ASCO Annual Meeting Presentations
At the 2026 ASCO Annual Meeting from May 29 to June 2 in Chicago, Black Diamond will deliver an oral presentation on updated Phase 2 frontline EGFRm NSCLC data, including preliminary duration of response and progression-free survival, alongside poster sessions on recurrent NSCLC data and a trial-in-progress on the EGFRvIII+ GBM study.
