Black Diamond Therapeutics
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Black Diamond Therapeutics (BDTX) investor relations material

Black Diamond Therapeutics Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary16 Mar, 2026

Executive summary

  • Advanced silevertinib clinical program with Phase 2 NSCLC trial showing promising efficacy and safety as of November 2025.

  • Preparing to initiate a randomized Phase 2 trial in EGFR-altered GBM in Q2 2026.

  • Focused pipeline after outlicensing BDTX-4933 and restructuring for operational efficiency.

Financial highlights

  • Ended 2025 with $128.7 million in cash, cash equivalents, and investments, up from $98.6 million at end of 2024.

  • Net income for 2025 was $22.4 million, compared to a net loss of $69.7 million in 2024.

  • License revenue of $70 million recognized in 2025.

  • R&D expenses for 2025 were $33.6 million, down from $51.3 million in 2024.

  • G&A expenses for 2025 were $16.6 million, down from $27.5 million in 2024.

Outlook and guidance

  • Cash position expected to fund operations into the second half of 2028.

  • Updated clinical data for silevertinib in NSCLC and GBM expected in Q2 2026.

Criteria for selecting a silevertinib partner
Rationale for the randomized Phase 2 GBM trial
Impact of CNS ORR on frontline NSCLC positioning
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Q1 20268 May, 2026
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