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Mar 31, 2024
C4 Therapeutics Q1 2024 Earnings Report
Reported financial results for the first quarter and recent business highlights.
Key Takeaways
C4 Therapeutics reported a net loss of $28.4 million for the first quarter of 2024, with total revenue of $3.0 million. The company's cash, cash equivalents, and marketable securities totaled $299.2 million as of March 31, 2024, expected to provide runway into 2027. They delivered a development candidate to Biogen, earning an $8 million payment, and established a strategic discovery research collaboration with Merck KGaA, Darmstadt, Germany.
Delivered first development candidate to Biogen, earning an $8 million payment.
Established a strategic discovery research collaboration with Merck KGaA, Darmstadt, Germany, focused on two critical oncogenic proteins.
Advanced Phase 1 dose escalation trials for Cemsidomide (CFT7455) and CFT1946, with data from both trials expected in 2H 2024.
Cash, cash equivalents and marketable securities totaled $299.2 million as of March 31, 2024, expected to provide runway into 2027.
Revenue by Segment
Forward Guidance
C4T expects that its cash, cash equivalents and marketable securities as of March 31, 2024 will be sufficient to fund planned operating expenses and capital expenditures into 2027.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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