0001701541-26-000017 | 10-Q | XBRL Viewer | Black Diamond Therapeutics INC

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SEGMENT REPORTING - Narrative (Details)	3 Months Ended
SEGMENT REPORTING - Narrative (Details)	Mar. 31, 2026 segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1

FAIR VALUE MEASUREMENTS

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy used to determine such fair values:


	Fair value measurements at March 31, 2026 using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	28,990	$	—	$	—	$	28,990
Investments:
Commercial paper	—		13,008		—		13,008
Corporate bonds	—		61,179		—		61,179
U.S. Government agencies	—		14,000		—		14,000
Total	$	28,990	$	88,187	$	—	$	117,177


	Fair value measurements at December 31, 2025 using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	19,906	$	—	$	—	$	19,906
Investments:
Commercial paper	—		14,885		—		14,885
Corporate bonds	—		78,745		—		78,745
U.S. Government agencies	—		14,032		—		14,032
Total	$	19,906	$	107,662	$	—	$	127,568

When developing fair value estimates, the Company maximizes the use of observable inputs and minimizes the use of unobservable inputs. When available, the Company uses quoted market prices to measure fair value. The valuation technique used to measure fair value for the Company's Level 1 and Level 2 assets is a market approach, using prices and other relevant information generated by market transactions involving identical or comparable assets. If market prices are not available, the fair value measurement is based on models that use primarily market-based parameters including yield curves, volatilities, credit ratings and currency rates. In certain cases where market rate assumptions are not available, the Company is required to make judgments about assumptions market participants would use to estimate the fair value of a financial instrument.

There were no transfers in or out of Level 3 categories in the periods presented.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Topic 820
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2026
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following is a summary of significant accounting policies followed in the preparation of these condensed consolidated financial statements. Principles of consolidation The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and include the accounts of the Company and its wholly owned subsidiary, Black Diamond Therapeutics Security Corporation, after elimination of all significant intercompany accounts and transactions. Unaudited interim financial information The condensed consolidated financial statements of the Company included herein have been prepared, without audit, pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted from this Quarterly Report, as is permitted by such rules and regulations. Accordingly, these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. In the opinion of the Company’s management, all adjustments (consisting of normal and recurring adjustments) considered necessary for a fair statement of the results for the interim periods presented have been included. Use of estimates The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, the accrual of research and development expenses and the valuation of stock-based awards. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results may differ from those estimates or assumptions. The Company continues to monitor the impact of macroeconomic developments and geopolitical developments, including political unrest, new or increased international tariffs and retaliatory tariffs, economic sanctions, inflationary pressures, interest rate fluctuations, disruptions in capital markets, changes in or disruptions of U.S. governmental agencies whether from a U.S. federal government shutdown or reduced resources, new laws and regulations or amendments to existing laws and regulations in the U.S. and foreign countries, international trade relationships and military conflicts, such as the ongoing conflicts between Russia and Ukraine, U.S. and Iran, and in the Middle East, on all aspects of its business, and has considered the impact of these factors on estimates within its financial statements. The extent to which future developments may impact the Company’s business, results of operations or financial condition are uncertain and cannot be predicted with confidence and there may be changes to estimates in future periods. As of the date of issuance of these condensed consolidated financial statements, the Company has not experienced material business disruptions or incurred impairment losses in the carrying value of its assets as a result of these factors and is not aware of any specific related event or circumstance that would require it to update its estimates. Recently issued accounting pronouncements In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which is intended to enhance transparency into the nature and function of expenses. The amendments require that on an annual and interim basis, entities disclose disaggregated operating expense information about specific categories, including purchases of inventory, employee compensation, depreciation, amortization and depletion. This guidance is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. The Company will evaluate the impact of the guidance on its financial statements in advance of the adoption date.

SEGMENT REPORTING - Schedule of Company's Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Segment Reporting Information [Line Items]
License revenue	$ 0	$ (70,000)
Research and development	7,003	10,506
Segment net (income) loss	9,036	(56,542)
Reportable segment
Segment Reporting Information [Line Items]
License revenue	0	(70,000)
Non-program expenses	2,610	3,546
Personnel-related expenses	3,012	3,351
Other segment items	(748)	(223)
Segment net (income) loss	9,036	(56,542)
Reportable segment \| Silevertinib (NSCLC) research and development expenses
Segment Reporting Information [Line Items]
Research and development	2,788	5,204
Reportable segment \| Silevertinib (GBM) research and development expenses
Segment Reporting Information [Line Items]
Research and development	1,368	0
Reportable segment \| BDTX-4933 research and development expenses
Segment Reporting Information [Line Items]
Research and development	0	1,018
Reportable segment \| Other research programs and development expenses
Segment Reporting Information [Line Items]
Research and development	$ 6	$ 562

STOCK-BASED COMPENSATION

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

2020 Stock Option and Incentive Plan

The 2020 Stock Option and Incentive Plan (the 2020 Plan) was approved by the Company’s board of directors on December 5, 2019, and the Company’s stockholders on January 14, 2020 and became effective on the date immediately prior to the date on which the registration statement for the Company’s initial public offering (IPO) was declared effective. The 2020 Plan provides for the grant of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock units, restricted stock awards, unrestricted stock awards, cash-based awards and dividend equivalent rights to the Company’s officers, employees, directors and consultants. The 2020 Plan provides for an annual increase, to be added on the first day of each fiscal year, by up to 4% of the Company’s outstanding shares of common stock as of the last day of the prior year. On January 1, 2026, 2,285,522 shares of common stock, representing 4% of the Company’s outstanding shares of common stock as of December 31, 2025, were added to the 2020 Plan.

2020 Employee Stock Purchase Plan

The 2020 Employee Stock Purchase Plan (the 2020 ESPP) was approved by the Company’s board of directors on December 5, 2019, and the Company’s stockholders on January 14, 2020, and became effective on the date immediately prior to the date on which the registration statement for the Company’s IPO was declared effective. The 2020 ESPP provides for an annual increase, to be added on the first day of each fiscal year, by up to 1% of the number of shares of the Company’s common stock outstanding on the immediately preceding December 31. The number of authorized shares reserved for issuance under the 2020 ESPP was increased by 326,364 shares effective as of January 1, 2026.

Stock-based compensation expense

The Company recorded stock-based compensation expense in the following award type categories included within the condensed consolidated statements of operations and comprehensive loss:


	Three Months Ended March 31,
	2026		2025
Stock options	$	1,276	$	1,141
Restricted stock units	140		529
Employee Stock Purchase Plan and Other	31		30
	$	1,447	$	1,700

For the three months ended March 31, 2026, the Company issued 13,024 shares of common stock under its 2020 Plan in accordance with its policy where non-employee directors may elect to receive their compensation in the form of common stock in lieu of cash.

The Company recorded stock-based compensation expense in the following expense categories of its condensed consolidated statements of operations and comprehensive loss:


	Three Months Ended March 31,
	2026		2025
Research and development	$	607	$	781
General and administrative	840		919
	$	1,447	$	1,700

Options

The following table summarizes the stock option activity under the Company’s equity awards plans:


	Options	Weighted Average Exercise Price		Weighted Average Remaining Life (in Years)	Intrinsic Value (in thousands)
Outstanding December 31, 2025	9,649,805	$	5.83	7.1	$	498
Granted	2,156,700	$	2.57

Cancelled or forfeited	(85,852)	$	3.03

Outstanding March 31, 2026	11,720,653	$	5.25	7.3	$	286
Options vested or expected to vest at March 31, 2026	11,720,653	$	5.25	7.3	$	286
Options exercisable at March 31, 2026	6,588,389	$	6.98	6.2	$	234

For the three months ended March 31, 2026, total unrecognized compensation cost related to the unvested stock-options was $11,013, which is expected to be recognized over a weighted average period of 2.6 years.

Restricted stock units

The fair values of restricted stock units are based on the market value of the Company’s stock on the date of the grant. Under terms of the time-based restricted stock agreements covering the common stock, shares of restricted common stock are subject to a vesting schedule. The following table summarizes time-based restricted stock activity since January 1, 2026:


	Number of shares	Weighted average grant date fair value




Unvested restricted common stock as of December 31, 2025	450,000	$	2.52

Vested	(225,000)	$	2.52

Unvested restricted common stock as of March 31, 2026	225,000	$	2.52

The total fair value of time-based restricted stock units vested during the three months ended March 31, 2026 was $567.

For the three months ended March 31, 2026, there was $472 unrecognized compensation cost related to the time-based unvested restricted stock units.

PROPERTY AND EQUIPMENT (Tables)

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property and equipment, net consisted of the following:


	March 31, 2026		December 31, 2025



Leasehold improvements	$	1,593	$	1,593

Property and equipment	1,593		1,593
Less: accumulated depreciation	(1,255)		(1,228)
Total Property and Equipment, net	$	338	$	365

SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Schedule of Reportable Segments

The following table is a reconciliation of the significant expense categories to segment net income (loss) regularly provided to the CODM when managing the Company’s single reporting segment:


	Three Months Ended March 31,
	2026		2025
	(in thousands)
License revenue	$	—	$	(70,000)
Program expenses:
Silevertinib (NSCLC) research and development expenses	$	2,788	$	5,204
Silevertinib (GBM) research and development expenses	1,368		—
BDTX-4933 research and development expenses	—		1,018
Other research programs and development expenses1	6		562
Non-program expenses2	2,610		3,546
Personnel-related expenses	3,012		3,351
Other segment items3	(748)		(223)
Segment net (income) loss	$	9,036	$	(56,542)

(1) Includes cross-program consulting expenses; (2) Includes facilities, information technology, legal, intellectual property, and other general and administrative expense; (3) Includes stock-based compensation expense, depreciation, sublease income, investment accretion, interest income, and other (income) expense.

NET INCOME (LOSS) PER SHARE - Schedule of Antidilutive Securities Excluded from Computation of Net Loss per Share (Details) - shares	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	11,962,949	10,839,712
Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	11,720,653	10,828,955
Unvested restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	225,000	0
Shares issuable under employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	6,539	0
Warrants to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	10,757	10,757

PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	3 Months Ended
PROPERTY AND EQUIPMENT (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Property, Plant and Equipment [Line Items]
Property and equipment	$ 1,593		$ 1,593
Less: accumulated depreciation	(1,255)		(1,228)
Total Property and Equipment, net	338		365
Depreciation expense	27	$ 87
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment	$ 1,593		$ 1,593

STOCK-BASED COMPENSATION - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
Options
Outstanding, beginning balance (in shares)	9,649,805
Granted (in shares)	2,156,700
Canceled or forfeited (in shares)	(85,852)
Outstanding, ending balance (in shares)	11,720,653	9,649,805
Options vested or expected to vest (in shares)	11,720,653
Options exercisable (in shares)	6,588,389
Weighted Average Exercise Price
Outstanding, beginning balance (in dollars per share)	$ 5.83
Granted (in dollars per share)	2.57
Cancelled or forfeited (in dollars per share)	3.03
Outstanding, ending balance (in dollars per share)	5.25	$ 5.83
Options vested or expected to vest (in dollars per share)	5.25
Options exercisable (in dollars per share)	$ 6.98
Weighted Average Remaining Life and Intrinsic Value
Options outstanding, remaining life	7 years 3 months 18 days	7 years 1 month 6 days
Options vested or expected to vest, remaining life	7 years 3 months 18 days
Options exercisable, remaining life	6 years 2 months 12 days
Options outstanding, intrinsic value	$ 286	$ 498
Options vested or expected to vest, intrinsic value	286
Options exercisable, intrinsic value	$ 234

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Payables and Accruals [Abstract]
Contracted research services	$ 6,025	$ 7,951
Payroll and related expenses	1,344	2,923
Professional and consulting fees	402	565
Current portion of operating lease liability and other	$ 3,794	$ 3,713
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total accrued expenses and other current liabilities	Total accrued expenses and other current liabilities
Total accrued expenses and other current liabilities	$ 11,565	$ 15,152

EQUITY METHOD INVESTMENT (Details) - Revelio Therapeutics Inc - USD ($)	Mar. 31, 2026	Dec. 31, 2025	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Common shares received from equity method investment (in shares)			9,000,000
Equity method investment, ownership percentage	15.10%	15.10%
Equity method investment	$ 0	$ 0

- Definition

This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

INVESTMENTS

3 Months Ended

Mar. 31, 2026

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS

As of March 31, 2026, investments were comprised of the following:


	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Commercial paper	$	13,019	$	2	$	(13)	$	13,008
Corporate bonds	61,182		29		(32)		61,179
U.S. Government agencies	14,022		1		(23)		14,000
Total	$	88,223	$	32	$	(68)	$	88,187

As of December 31, 2025, investments were comprised of the following:


	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Commercial paper	$	14,878	$	8	$	(1)	$	14,885
Corporate bonds	78,652		110		(17)		78,745
U.S. Government agencies	14,031		6		(5)		14,032
Total	$	107,561	$	124	$	(23)	$	107,662

As of March 31, 2026, all marketable securities held by the Company had remaining contractual maturities of three years or less.

As of December 31, 2025, all marketable securities held by the Company had remaining contractual maturities of three year or less.

As of March 31, 2026, the Company reviewed its investment portfolio to assess the unrealized losses on its available-for-sale investments. The Company evaluated whether it intended to sell the security and whether it was more likely than not that the Company would be required to sell the security before recovering its amortized cost basis. The Company also determined no portion of the unrealized losses relate to a credit loss. There have been no impairments of the Company’s assets measured and carried at fair value during the three months ended March 31, 2026 and the year ended December 31, 2025.

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Assets:
Total	$ 117,177	$ 127,568
Commercial paper
Assets:
Investments	13,008	14,885
Corporate bonds
Assets:
Investments	61,179	78,745
U.S. Government agencies
Assets:
Investments	14,000	14,032
Level 1
Assets:
Total	28,990	19,906
Level 1 \| Commercial paper
Assets:
Investments	0	0
Level 1 \| Corporate bonds
Assets:
Investments	0	0
Level 1 \| U.S. Government agencies
Assets:
Investments	0	0
Level 2
Assets:
Total	88,187	107,662
Level 2 \| Commercial paper
Assets:
Investments	13,008	14,885
Level 2 \| Corporate bonds
Assets:
Investments	61,179	78,745
Level 2 \| U.S. Government agencies
Assets:
Investments	14,000	14,032
Level 3
Assets:
Total	0	0
Level 3 \| Commercial paper
Assets:
Investments	0	0
Level 3 \| Corporate bonds
Assets:
Investments	0	0
Level 3 \| U.S. Government agencies
Assets:
Investments	0	0
Money market funds
Assets:
Cash equivalents	28,990	19,906
Money market funds \| Level 1
Assets:
Cash equivalents	28,990	19,906
Money market funds \| Level 2
Assets:
Cash equivalents	0	0
Money market funds \| Level 3
Assets:
Cash equivalents	$ 0	$ 0

STOCK-BASED COMPENSATION - Schedule of Restricted Stock Activity (Details) - Restricted stock units	3 Months Ended
	Mar. 31, 2026 $ / shares shares
Number of shares
Unvested restricted common stock, beginning balance (in shares) \| shares	450,000
Vested (in shares) \| shares	(225,000)
Unvested restricted common stock, ending balance (in shares) \| shares	225,000
Weighted average grant date fair value
Unvested restricted common stock, beginning balance (in dollars per share) \| $ / shares	$ 2.52
Vested (in dollars per share) \| $ / shares	2.52
Unvested restricted common stock, ending balance (in dollars per share) \| $ / shares	$ 2.52

BENEFIT PLANS (Details) - USD ($) $ in Thousands	3 Months Ended
BENEFIT PLANS (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Mar. 31, 2025
Retirement Benefits [Abstract]
Employer contribution, matching contribution percentage	100.00%
Employer contribution, percent of each participant's salary	6.00%
Employer contribution amount	$ 198	$ 154

LEASES (Tables)

3 Months Ended

Mar. 31, 2026

Leases [Abstract]

Schedule of Lease Cost and Other Operating Lease Information

The following table contains a summary of the lease costs recognized under ASC 842 and other information pertaining to the Company’s operating lease for the three months ended March 31, 2026 and 2025:


	Three Months Ended March 31,
	2026		2025
Lease Cost
Operating lease cost	$	785	$	1,054

Variable lease cost	213		259
Sublease income	(1,040)		(990)
Total lease cost	$	(42)	$	323


Other Operating Lease Information	March 31, 2026			March 31, 2025

Cash paid for amounts included in the measurement of lease liability	$	1,139		$	1,109
Weighted-average remaining lease term	5.0			5.8
Weighted-average discount rate	5.3		%	5.3		%

INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2026

Investments, Debt and Equity Securities [Abstract]

Schedule of Marketable Securities

As of March 31, 2026, investments were comprised of the following:


	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Commercial paper	$	13,019	$	2	$	(13)	$	13,008
Corporate bonds	61,182		29		(32)		61,179
U.S. Government agencies	14,022		1		(23)		14,000
Total	$	88,223	$	32	$	(68)	$	88,187

As of December 31, 2025, investments were comprised of the following:


	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Commercial paper	$	14,878	$	8	$	(1)	$	14,885
Corporate bonds	78,652		110		(17)		78,745
U.S. Government agencies	14,031		6		(5)		14,032
Total	$	107,561	$	124	$	(23)	$	107,662

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

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-Topic 320
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+ Details

STOCK-BASED COMPENSATION - Schedule of Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 1,447	$ 1,700
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	607	781
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	840	919
Stock options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	1,276	1,141
Restricted stock units
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	140	529
Employee Stock Purchase Plan and Other
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 31	$ 30

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company enters into contracts in the normal course of business with contract research organizations (CROs), contract manufacturing organizations (CMOs) and other third parties for preclinical research studies, clinical trials and testing and manufacturing services. These contracts do not contain minimum purchase commitments and are cancelable upon prior written notice. Payments due upon cancellation consist only of payments for services provided or expenses incurred, including noncancelable obligations of service providers, up to the date of cancellation. License Agreements The Company is party to license agreements, which include contingent payments. These payments will become payable if and when certain development, regulatory and commercial milestones are achieved. As of March 31, 2026, the satisfaction and timing of the contingent payments is uncertain and not reasonably estimable. Indemnification agreements In the ordinary course of business, the Company may provide indemnification of varying scope and terms to vendors, lessors, business partners and other parties with respect to certain matters including, but not limited to, losses arising out of breach of such agreements or from intellectual property infringement claims made by third parties. In addition, the Company has entered into indemnification agreements with members of its board of directors and executive officers that will require the Company, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors or officers. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is, in many cases, unlimited. To date, the Company has not incurred any material costs as a result of such indemnifications. The Company is not aware of any indemnification arrangements that could have a material effect on its financial position, results of operations or cash flows, and it has not accrued any liabilities related to such obligations in its consolidated financial statements as of March 31, 2026 or December 31, 2025. Legal proceedings The Company is not currently party to and is not aware of any material legal proceedings. At each reporting date, the Company evaluates whether or not a potential loss amount or a potential range of loss is probable and reasonably estimable under the provisions of the authoritative guidance that addresses accounting for contingencies. The Company expenses as incurred the costs related to such legal proceedings.

LEASES - Narrative (Details) $ in Thousands	1 Months Ended	3 Months Ended
LEASES - Narrative (Details) $ in Thousands	Dec. 31, 2025 USD ($)	Mar. 31, 2026 contract
Lessee, Lease, Description [Line Items]
Number of leases \| contract		2
Principal office, July 2020 lease
Lessee, Lease, Description [Line Items]
Impairment charge, right-of-use assets	$ 2,025
Impairment of long lived assets	580
Office and laboratory, December 2020 lease
Lessee, Lease, Description [Line Items]
Impairment charge, right-of-use assets	4,626
Impairment of long lived assets	$ 117

LEASES

3 Months Ended

Mar. 31, 2026

Leases [Abstract]

LEASES

The Company has historically entered into lease arrangements for its facilities. As of March 31, 2026, the Company had two operating leases with required future minimum payments. The Company determined the classification of these leases to be operating leases and recorded right-of-use assets and lease liabilities as of the effective dates. The Company’s leases generally do not include termination or purchase options.

Operating leases

On December 5, 2025, the Company entered into a sublease for the remaining floor of its Cambridge, Massachusetts office space. The sublease terminates on August 31, 2028, which is also the date on which the Company's lease terminates. Sublease income is recognized on a straight-line basis over the term of the sublease agreement. The Company was not relieved of its primary obligation under the Cambridge office lease as a result of the sublease. As part of the Company’s evaluation of the December 2025 sublease, it was determined that the estimated undiscounted sublease income exceeded the net book value of the related long-term assets, which includes right-of-use assets and property and equipment associated with the subleased space. Accordingly, the Company recorded an impairment charge of $2,025 related to the right-of-use asset and an impairment charge of $580 related to the associated property and equipment.

On June 19, 2024, the Company entered into a sublease for its office and laboratory space in New York, NY. The sublease terminates on June 30, 2026, with the option to extend to June 30, 2027. Sublease income is recognized on a straight-line basis over the term of the sublease agreement. The Company was not relieved of its primary obligation under the New York lease as a result of the sublease. In December 2025, the subtenant did not exercise its option to the sublease, accordingly it will terminate on June 30, 2026. As part of the Company’s evaluation of the termination of the sublease, it was determined that the undiscounted cash flows projected from an anticipated future sublease exceeded the net book value of the related long-term assets, which includes right-of-use assets and property and equipment associated with the subleased space. Accordingly, the Company recorded an impairment charge of $4,626 related to the right-of-use asset and an impairment charge of $117 related to the associated property and equipment.


	Three Months Ended March 31,
	2026		2025
Lease Cost
Operating lease cost	$	785	$	1,054

Variable lease cost	213		259
Sublease income	(1,040)		(990)
Total lease cost	$	(42)	$	323


Other Operating Lease Information	March 31, 2026			March 31, 2025

Cash paid for amounts included in the measurement of lease liability	$	1,139		$	1,109
Weighted-average remaining lease term	5.0			5.8
Weighted-average discount rate	5.3		%	5.3		%

The variable lease costs for the three months ended March 31, 2026 and 2025 include common area maintenance and other operating charges. As the Company’s leases do not provide an implicit rate, the Company utilized its incremental borrowing rate to discount lease payments, which reflects the fixed rate at which the Company could borrow on a collateralized basis the amount of the lease payments in the same currency, for a similar term, in a similar economic environment.

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2026	May 01, 2026
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2026
Document Transition Report	false
Entity File Number	001-38501
Entity Registrant Name	BLACK DIAMOND THERAPEUTICS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	81-4254660
Entity Address, Address Line One	245 First Street, 18th Floor
Entity Address, City or Town	Cambridge
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02142
City Area Code	(617)
Local Phone Number	252-0848
Title of 12(b) Security	Common stock, par value $0.0001
Trading Symbol	BDTX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		57,301,774
Amendment Flag	false
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2026
Entity Central Index Key	0001701541
Current Fiscal Year End Date	--12-31
Former Address
Document Information [Line Items]
Entity Address, Address Line One	One Main Street, 14th Floor
Entity Address, City or Town	Cambridge
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02142

LICENSE REVENUE (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
LICENSE REVENUE (Details) - USD ($) $ in Thousands	Mar. 31, 2025	Mar. 31, 2026	Mar. 31, 2025
Disaggregation of Revenue [Line Items]
License revenue		$ 0	$ 70,000
Servier Agreement
Disaggregation of Revenue [Line Items]
Collaborative arrangement, upfront payment	$ 70,000
Collaborative arrangement, contingent milestone payments	$ 710,000		710,000
License revenue		$ 0	$ 70,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

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+ Details

SEGMENT REPORTING

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

SEGMENT REPORTING

Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by the Chief Operating Decision Maker (CODM) in deciding how to allocate resources to an individual segment and in assessing performance. The Company operates as a single reporting segment, focused on the development of MasterKey therapies that target families of oncogenic mutations in patients with cancer.

The Company’s measure of segment profit or loss is net income (loss). The CODM is the chief executive officer (CEO). The CODM manages and allocates resources to the operations of the Company on a total company basis. Managing and allocating resources on a consolidated basis enables the CEO to assess the overall level of resources available and how to best deploy these resources across functions and development projects that are in line with the Company’s strategic goals. Consistent with this decision-making process, the CEO uses consolidated financial information for purposes of evaluating performance, forecasting future period financial results, allocating resources and setting incentive targets. Segment net income (loss) is used to monitor budget versus actual results and in assessing performance of the segment.

The following table is a reconciliation of the significant expense categories to segment net income (loss) regularly provided to the CODM when managing the Company’s single reporting segment:


	Three Months Ended March 31,
	2026		2025
	(in thousands)
License revenue	$	—	$	(70,000)
Program expenses:
Silevertinib (NSCLC) research and development expenses	$	2,788	$	5,204
Silevertinib (GBM) research and development expenses	1,368		—
BDTX-4933 research and development expenses	—		1,018
Other research programs and development expenses1	6		562
Non-program expenses2	2,610		3,546
Personnel-related expenses	3,012		3,351
Other segment items3	(748)		(223)
Segment net (income) loss	$	9,036	$	(56,542)

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Reference 16: http://www.xbrl.org/2003/role/exampleRef
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+ Details

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis


	Fair value measurements at March 31, 2026 using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	28,990	$	—	$	—	$	28,990
Investments:
Commercial paper	—		13,008		—		13,008
Corporate bonds	—		61,179		—		61,179
U.S. Government agencies	—		14,000		—		14,000
Total	$	28,990	$	88,187	$	—	$	117,177


	Fair value measurements at December 31, 2025 using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	19,906	$	—	$	—	$	19,906
Investments:
Commercial paper	—		14,885		—		14,885
Corporate bonds	—		78,745		—		78,745
U.S. Government agencies	—		14,032		—		14,032
Total	$	19,906	$	107,662	$	—	$	127,568

NET INCOME (LOSS) PER SHARE - Schedule of Computation of Net Income (Loss) per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income (loss)	$ (9,036)	$ 56,542
Weighted average common shares outstanding, basic (in shares)	57,233,413	56,663,798
Effect of dilutive securities:
Weighted average common shares outstanding, diluted (in shares)	57,233,413	57,673,099
Net income (loss) per share, basic (in dollars per share)	$ (0.16)	$ 1.00
Net income (loss) per share, diluted (in dollars per share)	$ (0.16)	$ 0.98
Options to purchase common stock
Effect of dilutive securities:
Dilutive effect of share-based payment arrangements (in shares)	0	10,886
Restricted stock units
Effect of dilutive securities:
Dilutive effect of share-based payment arrangements (in shares)	0	990,000
Employee stock purchase program
Effect of dilutive securities:
Dilutive effect of share-based payment arrangements (in shares)	0	8,415

LEASES - Schedule of Lease Cost and Other Operating Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Lease Cost
Operating lease cost	$ 785	$ 1,054
Variable lease cost	213	259
Sublease income	(1,040)	(990)
Total lease cost	(42)	323
Other Operating Lease Information
Cash paid for amounts included in the measurement of lease liability	$ 1,139	$ 1,109
Weighted-average remaining lease term	5 years	5 years 9 months 18 days
Weighted-average discount rate	5.30%	5.30%

LICENSE REVENUE	3 Months Ended
LICENSE REVENUE	Mar. 31, 2026
Revenue from Contract with Customer [Abstract]
LICENSE REVENUE	LICENSE REVENUE In March 2025, the Company entered into a license agreement with Servier. Pursuant to the Servier Agreement, the Company granted to Servier a worldwide license to develop and commercialize BDTX-4933. Under the terms of the Servier Agreement, Servier will lead the development activities and the worldwide commercialization of BDTX-4933 across multiple indications, including NSCLC, with potential applications in other solid tumors. Under the Servier Agreement, the Company received an upfront payment of $70,000 in March 2025 and will be eligible to receive up to $710,000 in development and commercial sales milestone payments, along with tiered royalties based on global net sales. These milestone and royalty payments will become payable to the Company if and when the development and commercial sales milestones are achieved and commercial sales of the licensed product are made. Unless earlier terminated, the term of the Servier Agreement continues until expiration of the last royalty term for the applicable product in the applicable country. The Servier Agreement is subject to customary termination provisions, including termination by a party for the other party’s uncured, material breach. The Servier Agreement also includes customary representations and warranties, covenants and indemnification obligations. The Company assessed the Servier Agreement in accordance with ASC 606 and concluded that the contract counterparty, Servier, is a customer. In accordance with ASC 606, the Company determined that there is one performance obligation in the Servier Agreement, consisting of the license of the functional IP rights to BDTX-4933 granted to Servier. The transaction price was comprised of the fixed consideration of $70,000 and was recognized upon transfer of control of the license at a point in time upon contract execution. The arrangement includes significant variable consideration primarily in the form of development and commercial sales milestone payments and royalty fees. The development milestone fees are fully constrained at the inception of the contract. The estimate of variable consideration and the judgments related to the constraints for the development milestones are reassessed each reporting period under the most likely amount method. As of and for the three months ended March 31, 2026, the Company determined the events underlying the milestones were not probable, therefore the variable consideration was fully constrained and no adjustments to the estimates have been made. The commercial sales milestones and royalty fees are considered variable consideration and will be recognized as revenue as such sales occur. The commercial sales milestones and royalty fees qualify for the sales and usage-based royalty exception because the license of the functional IP rights to BDTX-4933 is the predominant element of the Servier Agreement and therefore does not require an estimate of the future transaction price. During the three months ended March 31, 2026, the Company recorded no license revenue pursuant to the Servier Agreement and $70,000 in the three months ended March 31, 2025.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Subparagraph (c)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 12
-Subparagraph (d)
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 12
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
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-Paragraph 13
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
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-URI https://asc.fasb.org/606/tableOfContent

+ Details

NATURE OF BUSINESS AND BASIS OF PRESENTATION (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended
	Nov. 13, 2025	Mar. 31, 2025	Mar. 31, 2026	Dec. 31, 2025
Subsidiary, Sale of Stock [Line Items]
Accumulated deficit			$ 473,776	$ 464,740
Shelf Registration Statement
Subsidiary, Sale of Stock [Line Items]
Sale of stock, authorized consideration	$ 500,000
Open Market Sale
Subsidiary, Sale of Stock [Line Items]
Sale of stock, authorized consideration	$ 150,000
At Market Equity Program
Subsidiary, Sale of Stock [Line Items]
Number of shares sold			4,490,853
Issuance of common stock			$ 25,000
Sale of stock, consideration received			$ 24,500
Servier Agreement
Subsidiary, Sale of Stock [Line Items]
Collaborative arrangement, upfront payment		$ 70,000
Collaborative arrangement, contingent milestone payments		$ 710,000

EQUITY METHOD INVESTMENT	3 Months Ended
EQUITY METHOD INVESTMENT	Mar. 31, 2026
Equity Method Investments and Joint Ventures [Abstract]
EQUITY METHOD INVESTMENT	EQUITY METHOD INVESTMENT In December 2022, the Company received 9,000,000 shares of common stock in a newly formed antibody-focused precision oncology company, Revelio Therapeutics, Inc. (Revelio), in exchange for contributing early discovery-stage antibody programs and granting Revelio a license to use its MAP drug discovery engine to discover, develop and commercialize large molecule therapeutics. As of December 31, 2025 and March 31, 2026, the Company had a voting interest in Revelio of 15.1%, and one seat on Revelio’s Board of Directors, which provide the Company with significant influence over Revelio. Other investors in Revelio include Versant Ventures and New Enterprise Associates (NEA), who are shareholders of the Company. The Company accounted for the transaction under the equity method. As of March 31, 2026 and the year ended December 31, 2025, the carrying value of the investment in Revelio was zero. Since the Company has no obligation to provide financing support to Revelio, the Company is not required to record further losses exceeding the carrying value of the investment. The Company also determined that its investment in Revelio is not material or significant to its operations or financial position.

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 30,071	$ 20,990
Investments	88,187	107,662
Prepaid expenses and other current assets	4,709	3,788
Total current assets	122,967	132,440
Property and equipment, net	338	365
Restricted cash	831	829
Right-of-use assets	8,757	9,303
Other non-current assets	29	73
Total assets	132,922	143,010
Current liabilities:
Accounts payable	2,969	579
Accrued expenses and other current liabilities	11,565	15,152
Total current liabilities	14,534	15,731
Non-current operating lease liabilities	14,088	15,068
Total liabilities	28,622	30,799
Commitments and contingencies (Note 11)
Stockholders' equity:
Preferred stock, $0.0001 par value; 10,000,000 shares authorized at March 31, 2026 and December 31, 2025; no shares issued or outstanding at March 31, 2026 and December 31, 2025	0	0
Common stock; $0.0001 par value; 500,000,000 shares authorized at March 31, 2026 and December 31, 2025; 57,301,774 shares issued and outstanding at March 31, 2026 and 57,138,057 shares issued and outstanding at December 31, 2025	8	8
Additional paid-in capital	578,104	576,842
Accumulated other comprehensive (loss) income	(36)	101
Accumulated deficit	(473,776)	(464,740)
Total stockholders' equity	104,300	112,211
Total liabilities and stockholders' equity	$ 132,922	$ 143,010

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Statement of Comprehensive Income [Abstract]
License revenue	$ 0	$ 70,000
Operating expenses:
Research and development	7,003	10,506
General and administrative	4,256	4,964
Total operating expenses	11,259	15,470
Income (loss) from operations	(11,259)	54,530
Other income (expense):
Interest income	1,023	595
Other income (expense)	1,200	1,417
Total other income (expense), net	2,223	2,012
Net income (loss)	$ (9,036)	$ 56,542
Net income (loss) per share, basic (in dollars per share)	$ (0.16)	$ 1.00
Net income (loss) per share, diluted (in dollars per share)	$ (0.16)	$ 0.98
Weighted average common shares outstanding, basic (in shares)	57,233,413	56,663,798
Weighted average common shares outstanding, diluted (in shares)	57,233,413	57,673,099
Comprehensive income (loss):
Net income (loss)	$ (9,036)	$ 56,542
Other comprehensive income (loss):
Unrealized gain (loss) on investments, net	(137)	(43)
Comprehensive income (loss)	$ (9,173)	$ 56,499

NET INCOME (LOSS) PER SHARE

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

NET INCOME (LOSS) PER SHARE

Net income (loss) per share

We compute basic net income (loss) per common share by dividing net income (loss) by the weighted-average number of common shares outstanding. We compute diluted net income (loss) per common share by dividing net income (loss) by the weighted-average number of common shares and dilutive potential common share equivalents then outstanding during the period. Potential common shares consist of shares issuable upon the vesting of restricted stock units and the exercise of stock options (the proceeds of which are then assumed to have been used to repurchase outstanding shares using the treasury stock method). Because the inclusion of potential common shares would be anti-dilutive for periods presenting a net loss, diluted net loss per common share is the same as basic net loss per common share.

The following table summarizes the computation of basic and diluted net income (loss) per share attributable to common shareholders of the Company (in thousands, except share and per share amounts):


	Three Months Ended March 31,
	2026		2025
Net income (loss)	$	(9,036)	$	56,542

Weighted average common shares outstanding - basic	57,233,413		56,663,798
Effect of dilutive securities:
Options to purchase common stock	—		10,886
Restricted stock units	—		990,000
Employee stock purchase program	—		8,415

Weighted average common shares outstanding - diluted	57,233,413		57,673,099

Net income (loss) per share - basic	$	(0.16)	$	1.00
Net income (loss) per share - diluted	$	(0.16)	$	0.98

The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share for the periods indicated because including them would have had an anti-dilutive effect:


	Three Months Ended March 31,
	2026	2025
Options to purchase common stock	11,720,653	10,828,955
Unvested restricted stock	225,000	—
Shares issuable under employee stock purchase plan	6,539	—

Warrants to purchase common stock	10,757	10,757
	11,962,949	10,839,712

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

3 Months Ended

Mar. 31, 2026

Payables and Accruals [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consisted of the following:


	March 31, 2026		December 31, 2025
Contracted research services	$	6,025	$	7,951
Payroll and related expenses	1,344		2,923
Professional and consulting fees	402		565
Current portion of operating lease liability and other	3,794		3,713
Total accrued expenses and other current liabilities	$	11,565	$	15,152

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Mar. 31, 2026
Accounting Policies [Abstract]
Principles of consolidation	Principles of consolidation The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and include the accounts of the Company and its wholly owned subsidiary, Black Diamond Therapeutics Security Corporation, after elimination of all significant intercompany accounts and transactions.
Unaudited interim financial information	Unaudited interim financial information The condensed consolidated financial statements of the Company included herein have been prepared, without audit, pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted from this Quarterly Report, as is permitted by such rules and regulations. Accordingly, these condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. In the opinion of the Company’s management, all adjustments (consisting of normal and recurring adjustments) considered necessary for a fair statement of the results for the interim periods presented have been included.
Use of estimates	Use of estimates The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the reported amounts of expenses during the reporting periods. Significant estimates and assumptions reflected in these condensed consolidated financial statements include, but are not limited to, the accrual of research and development expenses and the valuation of stock-based awards. The Company bases its estimates on historical experience, known trends and other market-specific or other relevant factors that it believes to be reasonable under the circumstances. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. Changes in estimates are recorded in the period in which they become known. Actual results may differ from those estimates or assumptions.
Recently issued accounting pronouncements	Recently issued accounting pronouncements In November 2024, the FASB issued ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which is intended to enhance transparency into the nature and function of expenses. The amendments require that on an annual and interim basis, entities disclose disaggregated operating expense information about specific categories, including purchases of inventory, employee compensation, depreciation, amortization and depletion. This guidance is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. The Company will evaluate the impact of the guidance on its financial statements in advance of the adoption date.

- Definition

Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended
	Jan. 01, 2026	Mar. 31, 2026	Jan. 14, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, options		$ 11,013
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost, recognition period		2 years 7 months 6 days
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of units vested		$ 567
Unrecognized compensation cost		$ 472
2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase of authorized shares, percent of common stock outstanding	4.00%		4.00%
Increase in number of shares authorized (in shares)	2,285,522
2020 Plan \| Non-employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued in period (in shares)		13,024
2020 ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase of authorized shares, percent of common stock outstanding			1.00%
Increase in number of shares authorized (in shares)	326,364

INVESTMENTS - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
INVESTMENTS - Narrative (Details) - USD ($)	Mar. 31, 2026	Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]
Impairment loss	$ 0	$ 0

PROPERTY AND EQUIPMENT

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

Property and equipment, net consisted of the following:


	March 31, 2026		December 31, 2025



Leasehold improvements	$	1,593	$	1,593

Property and equipment	1,593		1,593
Less: accumulated depreciation	(1,255)		(1,228)
Total Property and Equipment, net	$	338	$	365

Depreciation expense for the three months ended March 31, 2026 and 2025 was $27 and $87, respectively.

NATURE OF BUSINESS AND BASIS OF PRESENTATION	3 Months Ended
NATURE OF BUSINESS AND BASIS OF PRESENTATION	Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF BUSINESS AND BASIS OF PRESENTATION	NATURE OF BUSINESS AND BASIS OF PRESENTATION Black Diamond Therapeutics, Inc. (the Company) is a clinical-stage oncology company developing MasterKey therapies that target families of oncogenic mutations in patients with cancer. The Company was originally organized as a limited liability company in December 2014 under the name ASET Therapeutics LLC. In September 2016, the Company was converted to a corporation under the laws of the State of Delaware under the name ASET Therapeutics, Inc. The Company changed its name to Black Diamond Therapeutics, Inc. in January 2018. Since its inception, the Company has devoted substantially all of its efforts to raising capital, obtaining financing and incurring research and development costs related to the development and advancement of its product candidates identified by its Mutation-Allostery-Pharmacology (MAP) drug discovery engine. The Company is subject to risks and uncertainties common to clinical-stage companies in the biotechnology industry. There can be no assurance that the Company’s research and development will be successfully completed, that adequate protection for the Company’s technology will be obtained, that any products developed will obtain necessary government regulatory approval or that any products, if approved, will be commercially viable. The Company operates in an environment of rapid technological innovation and substantial competition from pharmaceutical and biotechnological companies. In addition, the Company is dependent upon the services of its employees, consultants and service providers. Even if the Company’s product development efforts are successful, it is uncertain when, if ever, the Company will realize significant revenue from product sales. On March 18, 2025, the Company entered into a global licensing agreement (the Servier Agreement) with Servier Pharmaceuticals LLC (Servier) for BDTX-4933, a small molecule designed by the Company to address unmet medical needs in RAF/RAS-mutant solid tumors, pursuant to which the Company granted to Servier a worldwide license to develop and commercialize BDTX-4933. Under the terms of the Servier Agreement, Servier will lead the development activities and the worldwide commercialization of BDTX-4933 across multiple indications, including non-small cell lung cancer (NSCLC), with potential applications in other solid tumors. Under the Servier Agreement, the Company received an upfront payment of $70.0 million in March 2025 and will be eligible to receive up to $710.0 million in development and commercial sales milestone payments, along with tiered royalties based on global net sales. The Servier Agreement is discussed in greater detail in Note 14, License Revenue. On November 13, 2025, the Company filed a new shelf registration statement on Form S-3, including a base prospectus and sales agreement prospectus (the New Shelf Registration Statement), with the SEC, which covers the offering, issuance and sale of the Company’s common stock, preferred stock, debt securities, warrants and/or units of any combination thereof up to a maximum price of $500.0 million, including up to $150.0 million of shares of its common stock (the Shares) that may be offered, issued and sold under an Open Market Sale AgreementSM (the Sales Agreement) previously entered into with Jefferies LLC (Jefferies), as sales agent, on November 13, 2022 (the ATM Program). The New Shelf Registration Statement was filed to replace the Company’s prior shelf registration statement on Form S-3, originally filed with the SEC on November 14, 2022 and declared effective on November 22, 2022 (the Prior Shelf Registration Statement), which was set to expire on November 22, 2025, in accordance with applicable SEC regulations. The New Shelf Registration Statement became effective on December 3, 2025, and in accordance with Rule 415(a)(6) under the Securities Act, the offering of securities under the Prior Shelf Registration Statement was deemed terminated as of the date of effectiveness of the New Shelf Registration Statement. Upon delivery of a placement notice and subject to the terms and conditions of the Sales Agreement, Jefferies may sell the Shares by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415(a)(4) promulgated under the Securities Act. The Company may sell the Shares in amounts and at times to be determined by the Company from time to time subject to the terms and conditions of the Sales Agreement, but the Company has no obligation to sell any Shares under the Sales Agreement. The Company or Jefferies may suspend or terminate the offering of Shares upon notice to the other party and subject to other conditions. As of March 31, 2026, the Company sold 4,490,853 shares of its common stock pursuant to the ATM Program, resulting in gross proceeds to the Company of approximately $25.0 million ($24.5 million net of offering costs). The accompanying condensed consolidated financial statements have been prepared on the basis of continuity of operations, realization of assets, and the satisfaction of liabilities and commitments in the ordinary course of business. Historically, the Company has funded its operations primarily with proceeds from sales of common stock and preferred stock, and through the $70.0 million upfront payment received under the Servier Agreement in March 2025. The Company has had recurring losses and negative cash flows from operations in substantially all periods since inception and had an accumulated deficit of $473.8 million as of March 31, 2026. The Company expects to continue to generate operating losses for the foreseeable future. As of May 7, 2026, the issuance date of the condensed consolidated financial statements, the Company expects that its cash, cash equivalents and investments will be sufficient to fund its currently planned operations for at least the next 12 months from the filing date of these condensed consolidated financial statements. The Company will seek additional funding through private or public equity financings, debt financings, collaborations, strategic alliances and marketing, distribution or licensing arrangements. The Company may not be able to obtain financing on acceptable terms, or at all, and the Company may not be able to enter into collaborations or other arrangements. The terms of any financing may adversely affect the holdings or the rights of the Company's stockholders. If the Company is unable to obtain funding, the Company could be forced to delay, reduce or eliminate some or all of its research and development programs, product portfolio expansion or commercialization efforts, or reduce headcount and general and administrative costs, which could adversely affect its business prospects. Although management continues to pursue these plans, there is no assurance that the Company will be successful in obtaining sufficient funding on terms acceptable to the Company to fund continuing operations, if at all.

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common stock	Additional paid-in capital	Accumulated other comprehensive income (loss)	Accumulated deficit
Beginning balance (in shares) at Dec. 31, 2024		56,644,655
Beginning balance at Dec. 31, 2024	$ 83,285	$ 7	$ 570,361	$ 24	$ (487,107)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock related to ESPP (in shares)		17,567
Issuance of common stock related to ESPP	32		32
Stock-based compensation (in shares)		14,494
Stock-based compensation	1,700		1,700
Unrealized gain (loss) on investments	(43)			(43)
Net income (loss)	56,542				56,542
Ending balance (in shares) at Mar. 31, 2025		56,676,716
Ending balance at Mar. 31, 2025	$ 141,516	$ 7	572,093	(19)	(430,565)
Beginning balance (in shares) at Dec. 31, 2025	57,138,057	57,138,057
Beginning balance at Dec. 31, 2025	$ 112,211	$ 8	576,842	101	(464,740)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of restricted stock units (in shares)		225,000
Surrender of shares for taxes (in shares)		(74,307)
Surrender of shares for taxes	(185)		(185)
Stock-based compensation (in shares)		13,024
Stock-based compensation	1,447		1,447
Unrealized gain (loss) on investments	(137)			(137)
Net income (loss)	$ (9,036)				(9,036)
Ending balance (in shares) at Mar. 31, 2026	57,301,774	57,301,774
Ending balance at Mar. 31, 2026	$ 104,300	$ 8	$ 578,104	$ (36)	$ (473,776)

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2026	Dec. 31, 2025
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	57,301,774	57,138,057
Common stock, shares outstanding (in shares)	57,301,774	57,138,057

NET INCOME (LOSS) PER SHARE (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Schedule of Computation of Net Income (Loss) per Share

The following table summarizes the computation of basic and diluted net income (loss) per share attributable to common shareholders of the Company (in thousands, except share and per share amounts):


	Three Months Ended March 31,
	2026		2025
Net income (loss)	$	(9,036)	$	56,542

Weighted average common shares outstanding - basic	57,233,413		56,663,798
Effect of dilutive securities:
Options to purchase common stock	—		10,886
Restricted stock units	—		990,000
Employee stock purchase program	—		8,415

Weighted average common shares outstanding - diluted	57,233,413		57,673,099

Net income (loss) per share - basic	$	(0.16)	$	1.00
Net income (loss) per share - diluted	$	(0.16)	$	0.98

Schedule of Antidilutive Securities Excluded from Computation of Net Loss per Share


	Three Months Ended March 31,
	2026	2025
Options to purchase common stock	11,720,653	10,828,955
Unvested restricted stock	225,000	—
Shares issuable under employee stock purchase plan	6,539	—

Warrants to purchase common stock	10,757	10,757
	11,962,949	10,839,712

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2026

Payables and Accruals [Abstract]

Schedule of Accrued Expenses and Other Accrued Liabilities

Accrued expenses and other current liabilities consisted of the following:


	March 31, 2026		December 31, 2025
Contracted research services	$	6,025	$	7,951
Payroll and related expenses	1,344		2,923
Professional and consulting fees	402		565
Current portion of operating lease liability and other	3,794		3,713
Total accrued expenses and other current liabilities	$	11,565	$	15,152

BENEFIT PLANS	3 Months Ended
BENEFIT PLANS	Mar. 31, 2026
Retirement Benefits [Abstract]
BENEFIT PLANS	BENEFIT PLANS The Company has a tax-qualified 401(k) and Profit Sharing defined contribution plan (the 401(k) Plan). Under the 401(k) Plan, the Company provides an employer safe harbor matching contribution equal to 100% of a participant’s eligible contributions of up to 6% of eligible compensation, subject to limits established by the Internal Revenue Code of 1986, as amended, and any regulations promulgated thereunder (the Code). All matching contributions are fully vested when made. During the three months ended March 31, 2026 and 2025, the Company contributed $198 and $154, respectively, to the 401(k) Plan.

STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation

The Company recorded stock-based compensation expense in the following award type categories included within the condensed consolidated statements of operations and comprehensive loss:


	Three Months Ended March 31,
	2026		2025
Stock options	$	1,276	$	1,141
Restricted stock units	140		529
Employee Stock Purchase Plan and Other	31		30
	$	1,447	$	1,700

The Company recorded stock-based compensation expense in the following expense categories of its condensed consolidated statements of operations and comprehensive loss:


	Three Months Ended March 31,
	2026		2025
Research and development	$	607	$	781
General and administrative	840		919
	$	1,447	$	1,700

Schedule of Stock Option Activity

The following table summarizes the stock option activity under the Company’s equity awards plans:


	Options	Weighted Average Exercise Price		Weighted Average Remaining Life (in Years)	Intrinsic Value (in thousands)
Outstanding December 31, 2025	9,649,805	$	5.83	7.1	$	498
Granted	2,156,700	$	2.57

Cancelled or forfeited	(85,852)	$	3.03

Outstanding March 31, 2026	11,720,653	$	5.25	7.3	$	286
Options vested or expected to vest at March 31, 2026	11,720,653	$	5.25	7.3	$	286
Options exercisable at March 31, 2026	6,588,389	$	6.98	6.2	$	234

Schedule of Restricted Stock Activity

The following table summarizes time-based restricted stock activity since January 1, 2026:


	Number of shares	Weighted average grant date fair value




Unvested restricted common stock as of December 31, 2025	450,000	$	2.52

Vested	(225,000)	$	2.52

Unvested restricted common stock as of March 31, 2026	225,000	$	2.52

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flows from operating activities:
Net income (loss)	$ (9,036)	$ 56,542
Adjustment to reconcile net income (loss) to net cash used in operating activities:
Stock-based compensation expense	1,447	1,700
Depreciation expense	27	87
(Accretion) amortization on investments	(162)	(415)
Noncash rent expense	546	769
(Gain) Loss on sale of equipment	0	(13)
Changes in current assets and liabilities:
Prepaid expenses and other current assets	(921)	(678)
Other non-current assets	44	44
Accounts payable	2,390	(1,379)
Accrued expenses and other current liabilities	(3,587)	(2,347)
Non-current operating lease liabilities	(980)	(900)
Net cash provided by (used in) operating activities	(10,232)	53,410
Cash flows from investing activities:
Proceeds from sale of equipment	0	13
Proceeds from sales and maturities of investments	19,500	32,000
Purchases of investments	0	(23,466)
Net cash provided by (used in) investing activities	19,500	8,547
Cash flows from financing activities:
Proceeds from exercise of common stock options and ESPP, net of restricted stock surrendered for taxes	(185)	32
Net cash provided by financing activities	(185)	32
Net (decrease) increase in cash and cash equivalents	9,083	61,989
Cash, cash equivalents and restricted cash, beginning of period	21,819	37,256
Cash, cash equivalents and restricted cash, end of period	30,902	99,245
Cash, cash equivalents and restricted cash, end of period
Cash and cash equivalents, end of period	30,071	98,424
Restricted cash, end of period	831	821
Cash, cash equivalents and restricted cash, end of period	$ 30,902	$ 99,245

INVESTMENTS - Schedule of Marketable Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 88,223	$ 107,561
Unrealized Gains	32	124
Unrealized Losses	(68)	(23)
Fair Value	88,187	107,662
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	13,019	14,878
Unrealized Gains	2	8
Unrealized Losses	(13)	(1)
Fair Value	13,008	14,885
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	61,182	78,652
Unrealized Gains	29	110
Unrealized Losses	(32)	(17)
Fair Value	61,179	78,745
U.S. Government agencies
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	14,022	14,031
Unrealized Gains	1	6
Unrealized Losses	(23)	(5)
Fair Value	$ 14,000	$ 14,032

- Definition

Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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- Definition

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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Elizabeth Buck [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On February 26, 2026, Elizabeth Buck, our Chief Scientific Officer, entered into a trading arrangement intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) (the Buck 10b5-1 Plan). The Buck 10b5-1 Plan is scheduled to commence on May 28, 2026, and will run through May 31, 2027. The aggregate maximum number of shares of common stock that may be sold pursuant to the Buck 10b5-1 Plan is up to 208,750 shares pursuant to the terms of the Buck 10b5-1 Plan.
Name	Elizabeth Buck
Title	Chief Scientific Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	February 26, 2026
Expiration Date	May 31, 2027
Arrangement Duration	369 days
Aggregate Available	208,750