Black Diamond Therapeutics Refocuses on Lung Cancer Drug BDTX-1535 Amid Workforce Reduction

Workforce Reduction and Pipeline Refocus:
Black Diamond Therapeutics has cut its workforce, including several executives, and prioritized its lung cancer drug BDTX-1535.

BDTX-1535 Overview:
BDTX-1535 is a fourth-generation tyrosine kinase inhibitor designed to target a variety of EGFR mutations in lung cancer, particularly in patients who have failed on AstraZeneca’s Tagrisso.

Clinical Data:
Early clinical data from a phase 1 trial showed that all six NSCLC subjects who responded to BDTX-1535 had failed Tagrisso, with a 29% overall response rate (ORR) in the efficacy-evaluable population.

Market Context:
BDTX-1535 aims to improve on Tagrisso, competing with other projects like Dizal’s sunvozertinib, Blueprint’s BLU-945, and Novartis’s nazartinib.

Financial Position:
Black Diamond had $103 million in cash at the end of the first quarter, which is expected to last into the second half of 2024, and the company’s valuation stands at $225 million after a 236% share price surge.