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Market Surge: Black Diamond Therapeutics' Clinical Breakthrough, Centogene's Deal with Lifera

  • June 27th, 2023
  • 246 views

Shares of Black Diamond Therapeutics, Inc. (Nasdaq: BDTX) soared over 100% in pre-market trading following the release of initial clinical data for BDTX-1535. The investigational drug, a fourth-generation epidermal growth factor receptor (EGFR) MasterKey inhibitor, demonstrated promising results in the Phase 1 clinical study. 

The data showed clinical proof of activity in patients with non-small cell lung cancer (NSCLC) harboring acquired resistance and intrinsic driver EGFR mutations. 

$BDTX is currently trading at $4.12, reflecting a substantial increase of $2.28 (+123.91%) in pre-market.

In other news, Centogene N.V.'s (Nasdaq: CNTG) shares surged more than 40%  after announcing a strategic collaboration with Lifera, a biopharmaceutical company owned by the Public Investment Fund (PIF). 

The collaboration involves the formation of a Joint Venture (JV) aimed at enhancing access and prompt delivery of world-class multiomic testing to patients in Saudi Arabia and Gulf Cooperation Council (GCC) countries. 

As part of the agreement, Centogene will receive a $30 million investment through a mandatory convertible loan, along with milestone payments and revenue-based royalties until 2033. 

In pre-market, $CNTG is trading at $1.13, up $0.34 (44.42%).

 

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)

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