Black Diamond Therapeutics, Inc.
BDTXHealthcare|Biotechnology|US
$1.74
+0.07 (+4.52%)
DCF Value
$10.92
Tangible Book / Share
$1.68
Cash / Share
$1.93
Financials
Financial Snapshot
Market Cap
$99.4M
Enterprise Value
$97.2M
Revenue (TTM)
$0.00
Net Income (TTM)
-$42.6M
Cash & Investments
$110.5M
Net Cash
$93.5M
Free Cash Flow (TTM)
-$32.0M
Operating CF (TTM)
-$32.0M
Debt/Equity
0.18
Cash Runway & Burn Rate
Cash on Hand
$110.5M
Quarterly Burn
$8.0M
Monthly Burn
$2.7M
Est. Runway
~13.8 quarters
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $7.9M | $51.7M | $154.7M | $315.1M | $209.8M | $122.8M | $131.4M | $98.6M | $128.7M | $110.5M | |
| Operating Cash Flow | -$2.4M | -$8.5M | -$24.7M | -$52.1M | -$100.1M | -$85.1M | -$66.7M | -$62.3M | $29.6M | -$32.0M | |
| Free Cash Flow | -$2.4M | -$8.5M | -$24.7M | -$52.3M | -$102.9M | -$85.3M | -$66.8M | -$62.3M | $29.6M | -$32.0M | |
| Capital Expenditure | -$77.0K | -$76.0K | -$21.0K | -$142.0K | -$2.7M | -$192.0K | -$33.0K | $0.00 | $0.00 | $0.00 | |
| Financing Cash Flow | $10.0M | $52.3M | $127.8M | $214.9M | $729.0K | $177.0K | $71.9M | $25.5M | -$146.0K | -$30.0K |
R&D Spending
R&D (TTM)
$28.1M
R&D Intensity
—
R&D Growth vs Prior
-16.2%
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $70.0M | $0.00 | |
| R&D Expense | $3.5M | $7.0M | $21.8M | $48.2M | $96.8M | $64.4M | $58.9M | $51.3M | $33.6M | $28.1M | |
| R&D % of Revenue | — | — | — | — | — | — | — | — | 47.9% | — | |
| SG&A | $666.0K | $2.0M | $7.6M | $21.4M | $30.0M | $28.4M | $27.1M | $27.5M | $16.6M | $16.4M |
Income Statement
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $70.0M | $0.00 | |
| Cost of Revenue | $24.0K | $44.0K | $47.0K | $0.00 | $0.00 | $0.00 | $437.0K | $0.00 | $325.0K | $27.0K | |
| Gross Profit | -$24.0K | -$44.0K | -$47.0K | $0.00 | $0.00 | $0.00 | -$437.0K | $0.00 | $69.7M | -$27.0K | |
| R&D | $3.5M | $7.0M | $21.8M | $48.2M | $96.8M | $64.4M | $58.9M | $51.3M | $33.6M | $28.1M | |
| SG&A | $666.0K | $2.0M | $7.6M | $21.4M | $30.0M | $28.4M | $27.1M | $27.5M | $16.6M | $16.4M | |
| Operating Income | -$4.1M | -$8.9M | -$8.9M | -$69.6M | -$126.9M | -$92.8M | -$86.5M | -$78.8M | $19.9M | -$51.9M | |
| Interest Expense | $65.0K | $0.00 | $0.00 | $1.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$4.6M | -$8.9M | -$35.3M | -$67.3M | -$125.6M | -$91.2M | -$82.4M | -$69.7M | $22.4M | -$42.6M | |
| Net Income | -$4.6M | -$8.9M | -$35.3M | -$67.3M | -$125.6M | -$91.2M | -$82.4M | -$69.7M | $22.4M | -$42.6M | |
| EPS (Diluted) | -0.64 | -0.64 | -1.15 | -2.04 | -3.47 | -2.52 | -1.88 | -1.27 | 0.39 | -0.74 | |
| EBITDA | -$4.1M | -$8.9M | -$29.3M | -$67.2M | -$125.4M | -$90.7M | -$82.0M | -$69.3M | $22.7M | -$40.9M | |
| Shares Out. (M) | 7.20 | 13.95 | 35.91 | 32.91 | 36.19 | 36.23 | 43.95 | 55.03 | 57.56 | 57.37 |
Balance Sheet
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $7.9M | $51.7M | $154.7M | $34.6M | $65.8M | $34.3M | $56.2M | $36.4M | $21.0M | $19.2M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $280.5M | $144.0M | $88.5M | $75.2M | $62.1M | $107.7M | $91.3M | |
| Total Current Assets | $7.9M | $51.7M | $155.7M | $319.6M | $215.7M | $127.7M | $134.0M | $101.2M | $132.4M | $115.4M | |
| Total Assets | $8.0M | $51.8M | $158.3M | $329.7M | $247.7M | $156.3M | $158.6M | $122.6M | $143.0M | $125.0M | |
| Total Current Liabilities | $2.2M | $2.6M | $4.9M | $14.2M | $23.6M | $15.3M | $19.6M | $20.6M | $15.7M | $15.8M | |
| Long-Term Debt | $0.00 | $60.8M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $14.7M | $67.4M | $205.5M | $21.9M | $51.8M | $40.6M | $41.8M | $39.4M | $30.8M | $28.9M | |
| Stockholders' Equity | -$6.7M | -$15.5M | -$47.2M | $307.8M | $195.9M | $115.7M | $116.7M | $83.3M | $112.2M | $96.1M | |
| Retained Earnings | -$6.8M | -$15.7M | -$51.0M | -$118.2M | -$243.8M | -$335.0M | -$417.4M | -$487.1M | -$464.7M | -$483.7M |
Cash Flow Statement
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$2.4M | -$8.5M | -$24.7M | -$52.1M | -$100.1M | -$85.1M | -$66.7M | -$62.3M | $29.6M | -$32.0M | |
| Capital Expenditure | -$77.0K | -$76.0K | -$21.0K | -$142.0K | -$2.7M | -$192.0K | -$33.0K | $0.00 | $0.00 | $0.00 | |
| Free Cash Flow | -$2.4M | -$8.5M | -$24.7M | -$52.3M | -$102.9M | -$85.3M | -$66.8M | -$62.3M | $29.6M | -$32.0M | |
| Investing Cash Flow | -$77.0K | -$76.0K | -$21.0K | -$281.7M | $130.6M | $53.4M | $16.3M | $17.0M | -$44.9M | $22.1M | |
| Financing Cash Flow | $10.0M | $52.3M | $127.8M | $214.9M | $729.0K | $177.0K | $71.9M | $25.5M | -$146.0K | -$30.0K | |
| Issuance of Stock | $100.0K | $52.3M | $0.00 | $213.8M | $729.0K | $177.0K | $71.8M | $24.5M | -$146.0K | -$62.0K | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | -$50.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $5.0K | $64.0K | $3.6M | $7.8M | $14.0M | $12.2M | $9.6M | $10.6M | $6.6M | $6.1M | |
| Net Change in Cash | $7.5M | $43.8M | $103.1M | -$118.9M | $31.2M | -$31.5M | $21.6M | -$19.8M | -$15.4M | -$10.0M |
Dilution Tracker
Shares outstanding grew 74.9% over 5 years — significant dilution
Shares Outstanding
57M
5-Year Share Growth
+74.9%
Stock Issuance (TTM)
-$62.0K
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 7.20 | 13.95 | 35.91 | 32.91 | 36.19 | 36.23 | 43.95 | 55.03 | 57.56 | 57.37 | |
| Change vs Prior % | — | 93.9% | 157.4% | -8.4% | 10.0% | 0.1% | 21.3% | 25.2% | 4.6% | -0.3% | |
| Stock Issuance | $100.0K | $52.3M | $0.00 | $213.8M | $729.0K | $177.0K | $71.8M | $24.5M | -$146.0K | -$62.0K | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $5.0K | $64.0K | $3.6M | $7.8M | $14.0M | $12.2M | $9.6M | $10.6M | $6.6M | $6.1M |
Margins & Profitability
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | — | — | — | — | — | — | — | — | 99.5% | — | |
| Operating Margin % | — | — | — | — | — | — | — | — | 28.4% | — | |
| Net Margin % | — | — | — | — | — | — | — | — | 32.0% | — | |
| EBITDA Margin % | — | — | — | — | — | — | — | — | 32.4% | — | |
| FCF Margin % | — | — | — | — | — | — | — | — | 42.3% | — | |
| ROE % | 68.9% | 57.5% | 74.8% | -21.9% | -64.1% | -78.8% | -70.6% | -83.7% | 19.9% | -38.8% | |
| ROA % | -57.4% | -17.2% | -22.3% | -20.4% | -50.7% | -58.3% | -52.0% | -56.8% | 15.6% | -34.0% | |
| ROIC % | -71.1% | -18.0% | -5.8% | -22.0% | -56.5% | -64.5% | -60.9% | -74.7% | 15.2% | -45.9% | |
| R&D / Revenue % | — | — | — | — | — | — | — | — | 47.9% | — |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 0.0% | -83.3% | -6.8% | 100.0% | 0.0% | 0.0% | 0.0% | 100.0% | 0.0% | |
| Operating Income | 0.0% | -116.2% | 0.0% | -681.3% | -82.4% | 26.8% | 6.9% | 8.9% | 125.2% | |
| Net Income | 0.0% | -94.1% | -294.8% | -90.7% | -86.7% | 27.4% | 9.6% | 15.5% | 132.1% | |
| EPS (Diluted) | 0.0% | 0.0% | -79.7% | -77.4% | -70.1% | 27.4% | 25.4% | 32.4% | 130.7% | |
| Operating Cash Flow | 0.0% | -259.6% | -191.9% | -111.3% | -92.1% | 15.0% | 21.6% | 6.6% | 147.5% | |
| Free Cash Flow | 0.0% | -251.3% | -189.5% | -111.7% | -96.7% | 17.1% | 21.7% | 6.7% | 147.5% | |
| R&D Expense | 0.0% | 101.3% | 213.0% | 121.6% | 100.9% | -33.5% | -8.6% | -12.9% | -34.6% | |
| SG&A Expense | 0.0% | 193.4% | 287.9% | 181.8% | 40.6% | -5.5% | -4.5% | 1.3% | -39.7% | |
| Total Assets | 0.0% | 546.1% | 205.4% | 108.3% | -24.9% | -36.9% | 1.5% | -22.7% | 16.6% | |
| Book Value / Share | 0.0% | -20.1% | -17.9% | 812.2% | -42.1% | -41.0% | -16.8% | -43.0% | 30.4% | |
| Debt | 0.0% | 387.8% | -100.0% | 0.0% | 225.6% | -1.1% | -10.1% | -12.3% | -15.3% | |
| Diluted Shares | 0.0% | 93.9% | 157.4% | -8.4% | 10.0% | 0.1% | 21.3% | 25.2% | 4.6% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B1.04
10Y Low / Med / High0.56 / 1.23 / 3.43
EV/EBITDAAt Loss
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$10.92
Tangible Book / Share
$1.68
Net Current Assets / Share
$1.51
Graham Net-Net
$1.42
Cash / Share
$1.93
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -61.69 | -61.69 | -34.33 | -15.71 | -1.54 | -0.71 | -1.49 | -1.69 | 6.23 | -2.34 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.97 | 0.00 | |
| P/B Ratio | -42.56 | -35.44 | -30.06 | 3.43 | 0.98 | 0.56 | 1.06 | 1.41 | 1.23 | 1.04 | |
| EV/EBITDA | -70.49 | -63.00 | -43.13 | -15.31 | -1.24 | -0.65 | -1.13 | -1.49 | 5.99 | -2.38 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.94 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-3.48
Distress
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $8.3M | $2.8M | $11.6M |
| Net Income | -$34.8M | -$73.3M | -$52.4M |
| EPS | $-0.62 | $-0.95 | $-0.93 |
| # Analysts (EPS) | 6 | 6 | 7 |
Revenue Segments
By Product
| Segment | 2025 |
|---|---|
| Reportable Segment | $70.0M |