$BDTX
Black Diamond Therapeutics Inc

2024 Q2 Form 10-Q Financial Statement

#000170154124000022 Filed on May 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $9.574M $6.701M $6.808M
YoY Change 39.2% -1.57% -13.75%
% of Gross Profit
Research & Development $12.56M $13.55M $14.75M
YoY Change -4.55% -8.19% -17.05%
% of Gross Profit
Depreciation & Amortization $86.00K $86.00K $122.0K
YoY Change -24.56% -29.51% -2.4%
% of Gross Profit
Operating Expenses $22.13M $20.25M $21.56M
YoY Change 10.47% -6.1% -16.04%
Operating Profit -$22.13M -$20.25M -$21.56M
YoY Change 10.47% -6.1% -16.04%
Interest Expense $464.0K $637.0K $622.0K
YoY Change -13.91% 2.41% 53.2%
% of Operating Profit
Other Income/Expense, Net $2.221M $2.021M $686.0K
YoY Change 152.39% 194.61% 298.84%
Pretax Income -$19.91M -$18.23M -$20.88M
YoY Change 3.95% -12.69% -18.16%
Income Tax
% Of Pretax Income
Net Earnings -$19.91M -$18.23M -$20.88M
YoY Change 3.95% -12.69% -18.16%
Net Earnings / Revenue
Basic Earnings Per Share -$0.36 -$0.35 -$0.57
Diluted Earnings Per Share -$0.36 -$0.35 -$0.57
COMMON SHARES
Basic Shares Outstanding 56.25M shares 51.72M shares 36.48M shares
Diluted Shares Outstanding 55.16M shares 51.81M shares 36.48M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $123.0M $115.2M $103.4M
YoY Change 37.36% 11.45% -42.49%
Cash & Equivalents $32.81M $25.42M $39.14M
Short-Term Investments $90.16M $89.78M $64.23M
Other Short-Term Assets $3.783M $3.607M $4.611M
YoY Change 9.18% -21.77% -46.16%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $126.8M $118.8M $108.0M
YoY Change 36.31% 10.03% -42.66%
LONG-TERM ASSETS
Property, Plant & Equipment $1.558M $1.644M $2.333M
YoY Change -30.85% -29.53% -17.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $337.0K $819.0K $1.168M
YoY Change -72.56% -29.88% 11580.0%
Total Long-Term Assets $23.23M $23.72M $27.61M
YoY Change -13.59% -14.09% -11.46%
TOTAL ASSETS
Total Short-Term Assets $126.8M $118.8M $108.0M
Total Long-Term Assets $23.23M $23.72M $27.61M
Total Assets $150.0M $142.5M $135.6M
YoY Change 25.11% 5.12% -38.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $763.0K $1.176M $3.046M
YoY Change -72.12% -61.39% 61.76%
Accrued Expenses $17.68M $15.68M $9.801M
YoY Change 58.37% 59.96% -44.27%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $18.44M $16.85M $12.85M
YoY Change 32.67% 31.19% -34.01%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $20.53M $21.36M $24.55M
YoY Change -13.69% -12.97% -10.59%
Total Long-Term Liabilities $20.53M $21.36M $24.55M
YoY Change -13.69% -12.97% -10.59%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.44M $16.85M $12.85M
Total Long-Term Liabilities $20.53M $21.36M $24.55M
Total Liabilities $38.97M $38.22M $37.39M
YoY Change 3.41% 2.2% -20.31%
SHAREHOLDERS EQUITY
Retained Earnings -$455.6M -$435.7M -$355.9M
YoY Change 21.49% 22.43% 32.13%
Common Stock $7.000K $7.000K $5.000K
YoY Change 40.0% 40.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $111.0M $104.3M $98.19M
YoY Change
Total Liabilities & Shareholders Equity $150.0M $142.5M $135.6M
YoY Change 25.11% 5.12% -38.23%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income -$19.91M -$18.23M -$20.88M
YoY Change 3.95% -12.69% -18.16%
Depreciation, Depletion And Amortization $86.00K $86.00K $122.0K
YoY Change -24.56% -29.51% -2.4%
Cash From Operating Activities -$14.73M -$21.20M -$20.03M
YoY Change 2.49% 5.83% -29.96%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $740.0K -$13.73M $24.81M
YoY Change -95.69% -155.37% 48.22%
Cash From Investing Activities $740.0K -$13.73M $24.81M
YoY Change -95.69% -155.37% 48.28%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 21.38M $4.130M $51.00K
YoY Change 7998.04% -66.67%
NET CHANGE
Cash From Operating Activities -14.73M -$21.20M -$20.03M
Cash From Investing Activities 740.0K -$13.73M $24.81M
Cash From Financing Activities 21.38M $4.130M $51.00K
Net Change In Cash 7.392M -$30.80M $4.826M
YoY Change 163.34% -738.27% -141.18%
FREE CASH FLOW
Cash From Operating Activities -$14.73M -$21.20M -$20.03M
Capital Expenditures $0.00
Free Cash Flow -$20.03M
YoY Change -29.98%

Facts In Submission

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<div style="margin-top:12pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Use of estimates </span></div>The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, the accrual of research and development expenses and the valuation of stock-based awards. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results may differ from those estimates or assumptions.
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799000 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1644000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1730000 usd
CY2024Q1 us-gaap Depreciation
Depreciation
86000 usd
CY2023Q1 us-gaap Depreciation
Depreciation
122000 usd
CY2022 us-gaap Gain Loss On Disposition Of Intangible Assets
GainLossOnDispositionOfIntangibleAssets
2232000 usd
CY2022 us-gaap Research And Development Asset Acquired Other Than Through Business Combination Written Off
ResearchAndDevelopmentAssetAcquiredOtherThanThroughBusinessCombinationWrittenOff
710000 usd
CY2024Q1 bdtx Accrued Contract Research Service Fees Current
AccruedContractResearchServiceFeesCurrent
8984000 usd
CY2023Q4 bdtx Accrued Contract Research Service Fees Current
AccruedContractResearchServiceFeesCurrent
8071000 usd
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2510000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5175000 usd
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1000000 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
963000 usd
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3184000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3113000 usd
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
15678000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
17322000 usd
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1713000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2671000 usd
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8135711 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.85
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
1146000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2895550 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
4.85
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
47741 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.78
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
16500 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
1.82
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
300 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
7.73
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
10966720 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.09
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y3M18D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
11996000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
10966720 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
7.09
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y3M18D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
11996000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
4242313 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
11.65
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y8M12D
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
3488000 usd
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
18345000 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-18225000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-20875000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51808849 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
51808849 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36483878 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36483878 shares
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.35
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.35
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.57
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.57
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
4784000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
24545000 usd
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11102884 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8139542 shares
CY2024Q1 bdtx Lessee Operating Lease Number Of Contracts
LesseeOperatingLeaseNumberOfContracts
2 contract
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1054000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1054000 usd
CY2024Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
17000 usd
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
17000 usd
CY2024Q1 us-gaap Variable Lease Cost
VariableLeaseCost
237000 usd
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
256000 usd
CY2024Q1 us-gaap Sublease Income
SubleaseIncome
456000 usd
CY2023Q1 us-gaap Sublease Income
SubleaseIncome
135000 usd
CY2024Q1 us-gaap Lease Cost
LeaseCost
852000 usd
CY2023Q1 us-gaap Lease Cost
LeaseCost
1192000 usd
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1080000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1051000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y8M12D
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y7M6D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.053
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.053
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3279000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4477000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4599000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4724000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3926000 usd
CY2024Q1 bdtx Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
8324000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
29329000 usd
CY2024Q1 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
1
CY2024Q1 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.06
CY2024Q1 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
348000 usd
CY2023Q1 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
376000 usd
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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