Black Diamond Therapeutics Inc (NASDAQ:BDTX) is trading higher Tuesday after the company announced it received U.S. Food and Drug Administration clearance for the IND application for BDTX-1535, a MasterKey inhibitor of EGFR for the treatment of glioblastoma and non-small cell lung cancer.
Black Diamond Therapeutics said it expects to initiate the Phase 1 study of BDTX-1535 in the first quarter and plans to provide a clinical update in the second half of 2023.
"We are incredibly pleased to announce the FDA allowance of our IND, representing a significant milestone for Black Diamond as we continue to mature our pipeline of MasterKey therapies," said David Epstein, president and CEO of Black Diamond Therapeutics.
Black Diamond Therapeutics is a precision oncology medicine company engaged in the discovery and development of small molecule, tumor-agnostic therapies.
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BDTX Price Action: Black Diamond has traded as low as $4.32 and as high as $37.76 over a 52-week period.
The stock was up 14% at $5.13 at time of publication.
Photo: ckstockphoto from Pixabay.
