BUZZ-Black Diamond rises on licensing deal for tumor treatment

Reuters03-19

** Shares of precision oncology firm Black Diamond Therapeutics BDTX.O rise 35.1% to $2.26 premarket

** BDTX and French drugmaker Servier say they have entered into a licensing agreement for BDTX-4933, a small molecule designed by Black Diamond

** BDTX will receive an upfront payment of $70 million and will be eligible to receive up to $710 million in development and commercial sales milestone payments, along with tiered royalties based on global net sales

** Under the agreement, Servier will develop and commercialize BDTX-4933 for solid tumors including non-small cell lung cancer

** BDTX-4933 is currently in early-stage development

** Up to last close, BDTX has fallen 64.2% in the past 12 months

(Reporting by Siddhi Mahatole)

((siddhi.mahatole@thomsonreuters.com))

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