Why Black Diamond Therapeutics Stock Is Trading Higher Today

Black Diamond Therapeutics Inc BDTX is trading higher Tuesday after the company announced it received U.S. Food and Drug Administration clearance for the IND application for BDTX-1535, a MasterKey inhibitor of EGFR for the treatment of glioblastoma and non-small cell lung cancer.

Black Diamond Therapeutics said it expects to initiate the Phase 1 study of BDTX-1535 in the first quarter and plans to provide a clinical update in the second half of 2023.

"We are incredibly pleased to announce the FDA allowance of our IND, representing a significant milestone for Black Diamond as we continue to mature our pipeline of MasterKey therapies," said David Epstein, president and CEO of Black Diamond Therapeutics. 

Black Diamond Therapeutics is a precision oncology medicine company engaged in the discovery and development of small molecule, tumor-agnostic therapies. 

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BDTX Price Action: Black Diamond has traded as low as $4.32 and as high as $37.76 over a 52-week period.

The stock was up 14% at $5.13 at time of publication.

Photo: ckstockphoto from Pixabay.