Market Surge: Black Diamond Therapeutics' Clinical Breakthrough, Centogene's Deal with Lifera
- June 27th, 2023
- 265 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%).
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