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Jun 30, 2023
C4 Therapeutics Q2 2023 Earnings Report
Reported financial results for the second quarter ended June 30, 2023, and recent business highlights.
Key Takeaways
C4 Therapeutics reported a revenue of $2.7 million and a net loss of $35.9 million for the second quarter of 2023. The company's cash, cash equivalents, and marketable securities totaled $286.7 million as of June 30, 2023, expected to provide runway into the second half of 2025.
Established Exclusive Licensing Agreement for CFT8919 with Betta Pharmaceuticals in Greater China for NSCLC.
U.S. IND Cleared for CFT8919.
Ongoing Phase 1/2 Clinical Trials of CFT7455 and CFT8634 Continue to Progress; Phase 1 Dose Escalation Data Expected 2H 2023.
Strengthened Leadership Team with Appointments of Len Reyno, M.D., as Chief Medical Officer, and Mary Christian, Pharm.D., as Senior Vice President, Regulatory.
Revenue by Segment
Forward Guidance
C4T expects to share clinical updates from the dose escalation portion of the ongoing Phase 1/2 trials for its two lead programs, CFT7455 in multiple myeloma and CFT8634 in synovial sarcoma and SMARCB1-null cancers in the second half of the year.
Positive Outlook
- Present Phase 1 dose escalation data from the Phase 1/2 clinical trial of Arm B1, evaluating CFT7455 as a monotherapy in MM, in the second half of 2023.
- Present Phase 1 dose escalation data from the Phase 1/2 clinical trial for synovial sarcoma and SMARCB1-null solid tumors in the second half of 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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