Why Is Black Diamond Therapeutics (BDTX) Stock Up 82%?


  • Black Diamond Therapeutics (BDTX) stock is rallying alongside clinical trial data.
  • The company saw positive results from the dose escalation portion of its study.
  • That has resulted in heavy trading of BDTX stock today.
BDTX Stock - Why Is Black Diamond Therapeutics (BDTX) Stock Up 82%?

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Black Diamond Therapeutics (NASDAQ:BDTX) stock is seeing massive gains on Tuesday after releasing data from the dose escalation portion of a Phase 1 clinical study.

That clinical trial covers the use of BDTX-1535 as a treatment for non-small cell lung cancer (NSCLC) and glioblastoma multiforme (GBM). This new data shows clinical proof of activity of BDTX-1535 in NSCLC patients “harboring both acquired resistance and intrinsic driver EGFR mutations.”

With this news, Black Diamond is preparing for several more milestones for BDTX-1535. That includes additional clinical trial data later this year, as well as a meeting with the U.S. Food and Drug Administration (FDA) in the fourth quarter of 2023 to discuss its dosing strategy for the accelerated approval of the drug.

Sergey Yurasov, Chief Medical Officer of Black Diamond Therapeutics, said the following about the results:

“These initial safety and clinical activity data support the continued development of BDTX-1535 as a potential first and best-in-class treatment option for osimertinib-resistant NSCLC patients.”

BDTX Stock Movement Today

Investors in BDTX stock are celebrating today’s news and buying up more shares. This has BDTX seeing heavy trading today with some 61 million shares on the move. That’s a massive increase in trading volume compared to the company’s daily average of about 62,000 shares.

BDTX stock is up 82.4% as of Tuesday morning.

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/06/why-is-black-diamond-therapeutics-bdtx-stock-up-82/.

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