Black Diamond Therapeutics (BDTX) IPO Opens 74% Higher

Today's IPO for Black Diamond Therapeutics (NASDAQ: BDTX) opened for trading at $33 after pricing 10,586,316 shares of common stock at a public offering price of $19.00 per share.

J.P. Morgan Securities LLC, Jefferies LLC, and Cowen and Company, LLC, are acting as joint book-running managers for the offering. Canaccord Genuity LLC is acting as lead manager for the offering.

Black Diamond Therapeutics is a precision oncology medicine company pioneering the discovery of small molecule, tumor-agnostic therapies. Black Diamond targets undrugged mutations in patients with genetically defined cancers. Black Diamond is built upon a deep understanding of cancer genetics, protein structure and function, and medicinal chemistry. The Company’s proprietary technology platform, Mutation-Allostery-Pharmacology, or MAP, platform, is designed to allow Black Diamond to analyze population-level genetic sequencing data to identify oncogenic mutations that promote cancer across tumor types, group these mutations into families, and develop a single small molecule therapy in a tumor-agnostic manner that targets a specific family of mutations. Black Diamond was founded by David M. Epstein, Ph.D. and Elizabeth Buck, Ph.D., and, beginning in 2017, together with Versant Ventures, began building the MAP platform and chemistry discovery engine.

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