Black Diamond Therapeutics, Inc. Fair Value Disclosure
| 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 | |||||||||||||||
| Fair value measurements at December 31, 2024 using: | |||||||||||||||||||||||
| Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||||||
| Assets: | |||||||||||||||||||||||
| Cash equivalents: | |||||||||||||||||||||||
| Money market funds | $ | 35,345 | $ | — | $ | — | $ | 35,345 | |||||||||||||||
| Investments: | |||||||||||||||||||||||
| Commercial paper | — | 34,914 | — | 34,914 | |||||||||||||||||||
| Corporate bonds | — | 27,224 | — | 27,224 | |||||||||||||||||||
| Total | $ | 35,345 | $ | 62,138 | $ | — | $ | 97,483 | |||||||||||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 16, 2026 | Showing above |
| 2024 | Mar 6, 2025 | |
| 2023 | Mar 12, 2024 | |
| 2022 | Mar 9, 2023 | |
| 2021 | Mar 17, 2022 | |
| 2020 | Mar 25, 2021 | |
| 2019 | Mar 24, 2020 | |
About Fair Value Disclosures
Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.
Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.