Black Diamond Therapeutics, Inc. is a clinical-stage oncology company developing MasterKey therapies that target families of oncogenic mutations in patients with cancer. The company's approach is built on a deep understanding of cancer genetics, onco-protein structure and function, and medicinal chemistry to address genetically defined tumors and overcome resistance. Its therapies are designed to be brain-penetrant to treat central nervous system disease while minimizing wild-type mediated toxicities.

The company generates revenue primarily through upfront payments and potential milestone payments from licensing agreements for its product candidates. It received an upfront payment of $70.0 million in March 2025 from Servier Pharmaceuticals LLC for the global license to BDTX-4933, with eligibility for up to $710.0 million in development and commercial sales milestone payments plus tiered royalties based on global net sales. Black Diamond Therapeutics retains worldwide commercial rights to its lead candidate silevertinib and its FGFR2/3 selective development candidate BDTX-4876.

The company operates through the following segments:

• Silevertinib: This segment focuses on the development of a brain-penetrant, irreversible EGFR MasterKey inhibitor for the treatment of non-small cell lung cancer and glioblastoma. The compound targets families of oncogenic EGFR mutations including classical, non-classical, and acquired resistance mutations such as C797S. Silevertinib is currently being studied in a Phase 2 clinical trial for frontline non-small cell lung cancer patients with non-classical EGFR mutations and is planned for a randomized Phase 2 trial in newly diagnosed EGFR-altered glioblastoma patients in the second quarter of 2026.

• BDTX-4933: This segment involves a highly selective, brain-penetrant RAF MasterKey inhibitor targeting broad families of oncogenic BRAF, KRAS, and NRAS alterations. The compound was outlicensed to Servier Pharmaceuticals LLC in the first quarter of 2025, granting Servier global rights to develop and commercialize BDTX-4933 across multiple indications including non-small cell lung cancer. BDTX-4933 demonstrated brain-penetrant activity and tumor regression in preclinical models carrying KRAS, NRAS, and BRAF Class I, II, and III mutations.

• BDTX-4876: This segment covers an FGFR2/3 selective development candidate being explored for partnership opportunities. The compound is a MasterKey inhibitor of oncogenic FGFR2/3 mutations with selectivity versus FGFR1/4. In preclinical tumor models, BDTX-4876 showed dose-dependent tumor regression and supported potential development in musculoskeletal dysplasia through observed bone growth. The company is currently evaluating strategic partnerships to advance this program.

Black Diamond Therapeutics operates in the intensely competitive oncology biotechnology industry, focusing on targeted therapies for genetically defined cancers. The company faces competition from major pharmaceutical and biotechnology companies developing EGFR pathway inhibitors such as amivantamab, lazertinib, osimertinib, and afatinib for non-small cell lung cancer, as well as agents like WSD-0922-FU and TAS-2940 for glioblastoma. Its competitive advantages include the MasterKey approach targeting families of mutations, brain-penetrant properties, and oral administration of its therapy candidates.

The company serves patients with genetically defined cancers, particularly those with non-small cell lung cancer harboring epidermal growth factor receptor mutations and glioblastoma patients with EGFR alterations. Its therapies are intended for individuals who have limited treatment options due to resistance mutations or central nervous system involvement. Black Diamond Therapeutics aims to address significant unmet medical needs in oncology through its MasterKey inhibitor platform targeting EGFR, RAF, and FGFR pathways.