--- title: "Black Diamond Therapeutics | 10-Q: FY2026 Q1 Revenue: USD 0" type: "News" locale: "en" url: "https://longbridge.com/en/news/285539533.md" datetime: "2026-05-07T11:22:11.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285539533.md) - [en](https://longbridge.com/en/news/285539533.md) - [zh-HK](https://longbridge.com/zh-HK/news/285539533.md) --- # Black Diamond Therapeutics | 10-Q: FY2026 Q1 Revenue: USD 0 Revenue: As of FY2026 Q1, the actual value is USD 0. EPS: As of FY2026 Q1, the actual value is USD -0.16, beating the estimate of USD -0.1844. EBIT: As of FY2026 Q1, the actual value is USD -12.28 M. Black Diamond Therapeutics, Inc. operates as a single reporting segment, focusing on the development of MasterKey therapies for oncology. #### Financial Performance for the Three Months Ended March 31, 2026 vs. 2025 - **License Revenue**: - License revenue was $0 thousand in 2026, a decrease of -$70,000 thousand from $70,000 thousand in 2025, primarily due to an upfront payment received from Servier in Q1 2025. - **Operating Expenses**: - **Research and Development (R&D) Expenses**: R&D expenses decreased by -$3,503 thousand to $7,003 thousand in 2026 from $10,506 thousand in 2025. This decrease was mainly due to a -$2,416 thousand reduction related to the progression of the Phase 2 clinical trial for silevertinib in NSCLC and a -$1,018 thousand decrease from the deprioritization and licensing of the BDTX-4933 program. This was partially offset by a $1,368 thousand increase for silevertinib GBM due to the initiation of a Phase 2 trial. Personnel expenses decreased by -$371 thousand and facilities expenses by -$440 thousand due to office subleasing. - Silevertinib (NSCLC) R&D expenses were $2,788 thousand in 2026 compared to $5,204 thousand in 2025. - Silevertinib (GBM) R&D expenses were $1,368 thousand in 2026 compared to $0 in 2025. - BDTX-4933 R&D expenses were $0 in 2026 compared to $1,018 thousand in 2025. - Other research programs and platform development expenses were $6 thousand in 2026 compared to $562 thousand in 2025. - Personnel expenses were $2,337 thousand in 2026 compared to $2,708 thousand in 2025. - Allocated facility expenses were $437 thousand in 2026 compared to $877 thousand in 2025. - Other expenses were $67 thousand in 2026 compared to $137 thousand in 2025. - **General and Administrative (G&A) Expenses**: G&A expenses decreased by -$708 thousand to $4,256 thousand in 2026 from $4,964 thousand in 2025, driven by continued operational efficiencies. - **Total Operating Expenses**: Total operating expenses decreased by -$4,211 thousand to $11,259 thousand in 2026 from $15,470 thousand in 2025. - **Income (Loss) from Operations**: Income from operations decreased by -$65,789 thousand, resulting in a loss of -$11,259 thousand in 2026 compared to an income of $54,530 thousand in 2025. - **Other Income (Expense)**: - **Interest income**: Interest income increased by $428 thousand to $1,023 thousand in 2026 from $595 thousand in 2025. - **Other income (expense), net**: Other income (expense), net, decreased by -$217 thousand to $1,200 thousand in 2026 from $1,417 thousand in 2025. - **Total Other Income (Expense), net**: Total other income (expense), net, increased by $211 thousand to $2,223 thousand in 2026 from $2,012 thousand in 2025. - **Net Income (Loss)**: Net income decreased by -$65,578 thousand, resulting in a net loss of -$9,036 thousand in 2026 compared to a net income of $56,542 thousand in 2025. #### Cash Flow for the Three Months Ended March 31, 2026 vs. 2025 - **Net cash provided by (used in) operating activities**: Net cash used in operating activities was -$10,232 thousand in 2026, compared to net cash provided by operating activities of $53,410 thousand in 2025. - **Net cash provided by (used in) investing activities**: Net cash provided by investing activities was $19,500 thousand in 2026, up from $8,547 thousand in 2025. - **Net cash provided by (used in) financing activities**: Net cash used in financing activities was -$185 thousand in 2026, compared to net cash provided of $32 thousand in 2025. - **Net increase (decrease) in cash and cash equivalents**: Net increase in cash and cash equivalents was $9,083 thousand in 2026, a decrease from $61,989 thousand in 2025. #### Balance Sheet Highlights - **Cash and cash equivalents**: Cash and cash equivalents were $30,071 thousand as of March 31, 2026, up from $20,990 thousand as of December 31, 2025. - **Investments**: Investments were $88,187 thousand as of March 31, 2026, down from $107,662 thousand as of December 31, 2025. - **Total cash, cash equivalents and investments**: Total cash, cash equivalents and investments were $118.3 million as of March 31, 2026. - **Accumulated deficit**: The accumulated deficit was -$473.8 million as of March 31, 2026. #### Other Key Metrics - **Stock-based compensation expense**: Total stock-based compensation expense was $1,447 thousand in 2026, down from $1,700 thousand in 2025. R&D stock-based compensation was $607 thousand in 2026 ($781 thousand in 2025), and G&A was $840 thousand in 2026 ($919 thousand in 2025). - **Depreciation expense**: Depreciation expense was $27 thousand in 2026, compared to $87 thousand in 2025. - **Noncash rent expense**: Noncash rent expense was $546 thousand in 2026, compared to $769 thousand in 2025. - **ATM Program**: As of March 31, 2026, Black Diamond Therapeutics, Inc. sold 4,490,853 shares of common stock, generating gross proceeds of approximately $25.0 million ($24.5 million net of offering costs). - **Servier Agreement**: Black Diamond Therapeutics, Inc. received an upfront payment of $70.0 million in March 2025 and is eligible for up to $710.0 million in development and commercial sales milestone payments, along with tiered royalties based on global net sales for BDTX-4933. #### Future Outlook and Strategy Black Diamond Therapeutics, Inc. expects its existing cash, cash equivalents, and investments of $118.3 million to fund operating expenses and capital expenditure requirements into the second half of 2028. The company anticipates needing additional funding to support continuing operations and growth, which it plans to secure through equity/debt financings, collaborations, or licensing arrangements. Expenses are expected to increase substantially as the company advances clinical trials for silevertinib and prepares for potential commercialization activities. ### Related Stocks - [BDTX.US](https://longbridge.com/en/quote/BDTX.US.md) ## Related News & Research - [The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance | HD Stock News](https://longbridge.com/en/news/286890512.md) - [ONWARD Medical to Announce First Quarter 2026 Results on May 26, 2026 | ONWRY Stock News](https://longbridge.com/en/news/286858298.md) - [Correction: NextNRG to Host First Quarter 2026 Financial Results Conference Call on May 18, 2026 at 9:00 a.m. ET | NXXT Stock News](https://longbridge.com/en/news/286673001.md) - [Hafnia’s Q1 2026 Financial Results Presentation to Be Held on 27 May 2026 | HAFN Stock News](https://longbridge.com/en/news/287014236.md) - [Keysight Technologies Reports Second Quarter 2026 Results | KEYS Stock News](https://longbridge.com/en/news/286959830.md)