Black Diamond Therapeutics Announces Pricing of Public Offering of Common Stock
30 June 2023 - 10:57AM
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 the pricing of an underwritten
public offering of 15,000,000 shares of its common stock at a
public offering price of $5.00 per share. The gross proceeds to
Black Diamond from the offering, before deducting underwriting
discounts and commissions and offering expenses, are expected to be
$75.0 million. All shares in the offering are to be sold by Black
Diamond. In addition, Black Diamond has granted the underwriters a
30-day option to purchase up to an additional 2,250,000 shares of
its common stock. The offering is expected to close on or about
July 5, 2023, subject to customary closing conditions.
Piper Sandler is acting as sole book-running manager for the
offering. Wedbush PacGrow is acting as the lead manager for the
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 was filed with
the SEC and is available on the SEC’s website at www.sec.gov.
When available, copies of the final 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.
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 of the closing of the offering. 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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