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Mar 31, 2022
C4 Therapeutics Q1 2022 Earnings Report
Reported financial results and business highlights for the first quarter of 2022.
Key Takeaways
C4 Therapeutics reported first quarter 2022 financial results, highlighting clinical data from the CFT7455 Phase 1/2 trial presented at AACR and the initiation of a Phase 1/2 clinical trial for CFT8634. The company's cash, cash equivalents, and marketable securities totaled $421.7 million as of March 31, 2022, expected to provide runway to the end of 2024.
Presented clinical data from Cohort A of the CFT7455 Phase 1/2 clinical trial at AACR, demonstrating deep and durable degradation of IKZF1/3.
Initiated a Phase 1/2 clinical trial for CFT8634 for patients with synovial sarcoma and SMARCB1-null solid tumors.
Showcased the potential of the TORPEDO® platform at AACR with pre-clinical presentations on CFT7455, CFT8634, and CFT1946.
Cash, cash equivalents, and marketable securities totaled $421.7 million as of March 31, 2022, expected to provide runway to the end of 2024.
Forward Guidance
C4T anticipates several milestones including continued enrollment in the CFT7455 and CFT8634 Phase 1/2 trials, submission of an IND application and initiation of a Phase 1 trial for CFT1946, and completion of IND-enabling activities for CFT8919.
Positive Outlook
- Continued enrollment of the Phase 1/2 trial throughout 2022 for CFT7455 to inform the identification of a recommended Phase 2 dose(s) and schedule(s) for MM and NHL.
- Dose the first patient in CFT8634 Phase 1/2 clinical trial in 1H 2022 and continue to enroll the trial throughout 2022, informing the identification of a recommended Phase 2 dose for synovial sarcoma and SMARCB1-null solid tumors.
- Submit an IND application and initiate a Phase 1 trial of CFT1946 in BRAF V600X-driven cancers including melanoma, colorectal and non-small cell lung cancer in 2H 2022.
- Complete IND-enabling activities for CFT8919 by year-end 2022.
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