Black Diamond Therapeutics stock falls below cash value

Black Diamond Therapeutics, Inc. has entered a new licensing agreement with Servier for its drug, BDTX-4933. This deal covers worldwide rights and was met with a strong initial response, causing the company's stock to rise by 65%. However, this positive reaction was short-lived. The stock price fell back down to $1.72 after the initial surge. Despite the notable deal, Black Diamond's stock is currently trading significantly lower than its cash reserves. Analysts are aware of the company's ongoing challenges, including recent volatility in its stock price. Investors have expressed various opinions on the future of this stock, but there are no guarantees regarding performance.