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.
There’s even more stock market news traders will want to know about below!
We’ve got all of the hottest stock market news for traders to sink their teeth into on Tuesday! Our coverage includes what has shares of Walgreens Boots Alliance (NASDAQ:WBA), Enovix (NASDAQ:ENVX) and Lordstown Motors (NASDAQ:RIDE) stock on the move today. You can catch up on all of this news at the following links!
More Stock Market News For Monday
- Why Is Walgreens Boots Alliance (WBA) Stock Down 9% Today?
- Enovix (ENVX) Stock Jumps 13% as U.S. Army Places a Big Order
- RIDE Stock Alert: Lordstown Motors Files for Bankruptcy
On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed
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.
