24/7 Market News Snapshot 23 September, 2024 – Black Diamond Therapeutics, Inc. Common Stock (NASDAQ:BDTX)

September 23, 2024

DENVER, Colo., 23 September, 2024 (247marketnews.com) – (Nasdaq:BDTX) are discussed in this article.
Black Diamond Therapeutics, Inc. (Nasdaq:BDTX) is generating significant attention in the financial markets, with shares soaring to $5.785 in pre-market trading, reflecting a remarkable gain of 21.53% from the previous closing price. The trading volume has reached 1.34 million shares, underscoring a strong investor sentiment and enthusiasm regarding the company’s promising developments in the biotechnology sector.

In addition to the rally in stock price, Black Diamond has also announced encouraging preliminary results from its ongoing Phase 2 trial of BDTX-1535, an innovative therapy targeting relapsed and refractory epidermal growth factor receptor (EGFR)-mutant non-small cell lung cancer (NSCLC). The trial, which began in August 2023, is designed to evaluate the safety and efficacy of this treatment, particularly for patients with on-target resistance mutations. The early data from 19 patients indicate an impressive preliminary objective response rate (ORR) of 42%, highlighting the therapy’s potential to fill critical gaps in existing NSCLC treatments.

Further bolstering the positive outlook, the first three patients who responded to the treatment achieved a duration of response (DOR) exceeding eight months, while 14 patients remain on therapy. Sergey Yurasov, M.D., Chief Medical Officer, noted that the results underline BDTX-1535’s potential for durable responses and a favorable safety profile, addressing a significant need for patients who have limited options post-first-line therapy.

With regulatory feedback concerning a registration path expected in early 2025, Black Diamond is set on a trajectory to advance critical therapies for cancer treatment. Recruitment for further trial cohorts is ongoing, with initial results for first-line NSCLC patients anticipated in early 2025, paving the way for promising advancements in cancer care.

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