Black Diamond Therapeutics Announces Proposed Public Offering of Common Stock
29 June 2023 - 6:23AM
Black Diamond Therapeutics, Inc. (Nasdaq: BDTX), a clinical-stage
precision oncology company developing MasterKey therapies that
target families of oncogenic mutations in patients with genetically
defined cancers, today announced that it has commenced an
underwritten public offering of $75.0 million of shares of its
common stock. Black Diamond also intends to grant the underwriters
a 30-day option to purchase up to an additional $11.25 million of
shares of its common stock. All of the shares in the proposed
offering are to be sold by Black Diamond. The proposed offering is
subject to market and other conditions, and there can be no
assurance as to whether or when the offering may be completed, or
as to the actual size or terms of the offering.
Piper Sandler is acting as sole book-running manager for the
proposed offering. Wedbush PacGrow is acting as the lead
manager for the proposed offering.
The shares are being offered by Black Diamond pursuant to an
effective shelf registration statement that was previously filed
with the U.S. Securities and Exchange Commission (SEC) on November
14, 2022 and declared effective by the SEC on November 22, 2022
(File No. 333-268341). The offering is being made only by means of
a written prospectus and prospectus supplement that form a part of
the registration statement. A preliminary prospectus supplement
relating to and describing the terms of the offering will be filed
with the SEC and will be available on the SEC’s website at
www.sec.gov.
When available, copies of the preliminary prospectus supplement
relating to the offering may also be obtained from Piper Sandler
& Co., Attention: Prospectus Department, 800 Nicollet Mall,
J12S03, Minneapolis, MN 55402, by telephone at (800) 747-3924, or
by email at prospectus@psc.com.
The final terms of the offering will be disclosed in a final
prospectus supplement to be filed with the SEC.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy these securities, nor
shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or jurisdiction.
About Black Diamond Therapeutics
Black Diamond Therapeutics is a clinical-stage
precision oncology medicine company focused on the development of
MasterKey therapies that target families of oncogenic mutations in
clinically validated targets. Black Diamond leverages a deep
understanding of cancer genetics and onco-protein structure and
function, to discover and develop innovative MasterKey therapies.
The Company’s MasterKey therapies are designed to overcome
resistance, minimize on-target, wild-type mediated toxicities, and
be brain-penetrant to address significant unmet medical needs of
patients with genetically defined cancers. The Company is advancing
a robust pipeline with lead clinical-stage program BDTX-1535,
targeting MasterKey mutations in both EGFR mutant-positive NSCLC
and in GBM, and BDTX-4933, a program targeting RAF MasterKey
mutations in solid tumors, as well as discovery-stage research
programs. The Company’s proprietary MAP drug discovery engine is
designed to allow Black Diamond to analyze population-level genetic
sequencing tumor data and validate MasterKey mutations. For more
information, please
visit www.blackdiamondtherapeutics.com.
Forward-Looking Statements
Statements contained in this press release regarding matters
that are not historical facts are “forward-looking statements”
within the meaning of the Private Securities Litigation Reform Act
of 1995. Because such statements are subject to risks and
uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. Such
statements include, but are not limited to, statements regarding
the timing, terms and size of the proposed underwritten public
offering, and the possibility that the proposed underwritten public
offering will be completed. Any forward-looking statements in this
statement are based on management’s current expectations of future
events and are subject to a number of risks and uncertainties that
could cause actual results to differ materially and adversely from
those set forth in or implied by such forward-looking statements.
Risks that contribute to the uncertain nature of the
forward-looking statements include those risks and uncertainties
set forth in Black Diamond’s Annual Report on Form 10-K for the
year ended December 31, 2022, filed with the SEC and in its
subsequent filings filed with the SEC. All forward-looking
statements contained in this press release speak only as of the
date on which they were made. Black Diamond undertakes no
obligation to update such statements to reflect events that occur
or circumstances that exist after the date on which they were
made.
Contacts:
For Investors:Julie Seidel, Stern Investor
Relations(212) 362-1200investors@bdtx.commedia@bdtx.com
For Media:Kathy Vincent(310)
403-8951media@bdtx.com
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