Black Diamond Therapeutics Files Q3 2024 10-Q

TL;DR

BDTX Q3 2024 10-Q filed. Check financials.

AI Summary

Black Diamond Therapeutics, Inc. filed its Q3 2024 10-Q report on November 5, 2024, covering the period ending September 30, 2024. The company, formerly Aset Therapeutics, Inc., is involved in biological products. Financial details and operational updates for the third quarter are presented in this filing.

Why It Matters

This filing provides investors with the latest financial performance and operational status of Black Diamond Therapeutics, Inc. for the third quarter of 2024.

Risk Assessment

Risk Level: medium — As a biotechnology company, Black Diamond Therapeutics faces inherent risks related to drug development, clinical trials, regulatory approvals, and market competition.

Key Players & Entities

• Black Diamond Therapeutics, Inc. (company) — Filer of the 10-Q report
• Aset Therapeutics, Inc. (company) — Former name of Black Diamond Therapeutics, Inc.
• 20240930 (date) — End of the reporting period
• 20241105 (date) — Filing date of the report

FAQ

Key Financial Figures

• $0.0001 B — ich registered Common stock, par value $0.0001 BDTX The Nasdaq Global Select Market In
• $0.0001 — had 56,585,063 shares of common stock, $0.0001 par value per share, outstanding. Tab

Filing Documents

• bdtx-20240930.htm (10-Q) — 906KB
• separationagreement-ni.htm (EX-10.11) — 49KB
• employmentagreement-jones.htm (EX-10.12) — 109KB
• exhibit311_q32024.htm (EX-31.1) — 12KB
• exhibit312_q32024.htm (EX-31.2) — 12KB
• exhibit321_q32024.htm (EX-32.1) — 9KB
• image_0.jpg (GRAPHIC) — 6KB
• 0001701541-24-000042.txt ( ) — 5082KB
• bdtx-20240930.xsd (EX-101.SCH) — 29KB
• bdtx-20240930_cal.xml (EX-101.CAL) — 52KB
• bdtx-20240930_def.xml (EX-101.DEF) — 117KB
• bdtx-20240930_lab.xml (EX-101.LAB) — 494KB
• bdtx-20240930_pre.xml (EX-101.PRE) — 323KB
• bdtx-20240930_htm.xml (XML) — 614KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 6

Condensed Consolidated Financial Statements (Unaudited)

Item 1. Condensed Consolidated Financial Statements (Unaudited) 6 Condensed Consolidated Balance Sheets 6 Condensed Consolidated Statements of Operations and Comprehensive Loss 7 Condensed Consolidated Statements of Cash Flows 8 Condensed Consolidated Statements of Stockholders' Equity 9 Notes to Unaudited Condensed Consolidated Financial Statements 11

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 22

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 33

Controls and Procedures

Item 4. Controls and Procedures 34

- OTHER INFORMATION

PART II - OTHER INFORMATION 35

Legal Proceedings

Item 1. Legal Proceedings 35

Risk Factors

Item 1A. Risk Factors 35

Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities

Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 35

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 35

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 36

Other Information

Item 5. Other Information 36

Exhibits

Item 6. Exhibits 37

SIGNATURES

SIGNATURES 38 We have applied for various trademarks that we use in connection with the operation of our business. This Quarterly Report may also contain trademarks, service marks and trade names of third parties, which are the property of their respective owners. Our use or display of third parties' trademarks, service marks, trade names or products in this Quarterly Report is not intended to, and does not, imply a relationship with, or endorsement or sponsorship by, us. Solely for convenience, the trademarks, service marks and trade names referred to in this Quarterly Report may appear without the , TM or SM symbols, but the omission of such references is not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or that the applicable owner of these trademarks, service marks and trade names will not assert, to the fullest extent under applicable law, its rights. From time to time, we may use our website or our LinkedIn profile at www.linkedin.com/company/black-diamond-therapeutics to distribute material information. Our financial and other material information is routinely posted to and accessible on the Investors section of our website, available at www.blackdiamondtherapeutics.com. Investors are encouraged to review the Investors section of our website because we may post material information on that site that is not otherwise disseminated by us. Information that is contained in and can be accessed through our website or our LinkedIn page is not incorporated into, and does not form a part of, this Quarterly Report. Table of Contents

- FINANCIAL INFORMATION

Part I - FINANCIAL INFORMATION Item I. Condensed Consolidated Financial Statements (Unaudited) Black Diamond Therapeutics, Inc. Condensed Consolidated Balance Sheets (Unaudited) (in thousands, except share and per share data) As of September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 23,425 $ 56,221 Investments 89,257 75,179 Prepaid expenses and other current assets 2,856 2,634 Total current assets 115,538 134,034 Property and equipment, net 1,472 1,730 Restricted cash 826 823 Right-of-use assets 19,767 21,980 Other non-current assets 293 — Total assets $ 137,896 $ 158,567 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 1,971 $ 2,324 Accrued expenses and other current liabilities 18,829 17,322 Total current liabilities 20,800 19,646 Non-current operating lease liabilities 19,670 22,185 Total liabilities 40,470 41,831 Commitments and contingencies (Note 11) Stockholders' equity: Preferred stock, $ 0.0001 par value; 10,000,000 shares authorized at September 30, 2024 and December 31, 2023; no shares issued or outstanding at September 30, 2024 and December 31, 2023 — — Common stock; $ 0.0001 par value; 500,000,000 shares authorized at September 30, 2024 and December 31, 2023; 56,521,914 shares issued and outstanding at September 30, 2024 and 51,645,557 shares issued and outstanding at December 31, 2023 7 7 Additional paid-in capital 568,434 534,187 Accumulated other comprehensive income (loss) 107 ( 27 ) Accumulated deficit ( 471,122 ) ( 417,431 ) Total stockholders' equity 97,426 116,736 Total liabilities and stockholders' equity $ 137,896 $ 158,567 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 6 Table of Contents Black Diamond Therapeutics, Inc. Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (in thousands, except share and per

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View this 10-Q filing on SEC EDGAR