Market Overview

Black Diamond Therapeutics Announces Pricing of Initial Public Offering

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CAMBRIDGE, Mass. and NEW YORK, Jan. 29, 2020 (GLOBE NEWSWIRE) -- Black Diamond Therapeutics, Inc. (NASDAQ:BDTX), a precision oncology medicine company pioneering the discovery and development of small molecule, tumor-agnostic therapies, today announced the pricing of its initial public offering of 10,586,316 shares of common stock at a public offering price of $19.00 per share. All of the shares are being offered by Black Diamond. The shares are expected to begin trading on the Nasdaq Global Select Market on January 30, 2020 under the ticker symbol "BDTX." The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Black Diamond, are expected to be approximately $201.1 million. The offering is expected to close on February 3, 2020, subject to the satisfaction of customary closing conditions. In addition, Black Diamond has granted the underwriters a 30-day option to purchase up to an additional 1,587,947 shares of common stock at the initial public offering price.

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.

A registration statement relating to these securities became effective on January 29, 2020. The offering will be made only by means of a prospectus, copies of which may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, Attn: Prospectus Department, 1155 Long Island Avenue, Edgewood, New York 11717, via telephone at (866) 803-9204, or via email at prospectus-eq_fi@jpmchase.com; Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New York 10022, by telephone at (877) 821-7388 or by e-mail at Prospectus_Department@Jefferies.com; or, Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY,11717, Attn: Prospectus Department, by email at PostSaleManualRequests@broadridge.com or by telephone at (833) 297-2926.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Black Diamond
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.

Contacts:

For Investors:
Thomas (Tommy) Leggett
Chief Financial Officer
investors@bdtherapeutics.com 

For Media:
Kathy Vincent
(310) 403-8951
media@bdtherapeutics.com 

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