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Sep 30, 2023
C4 Therapeutics Q3 2023 Earnings Report
C4 Therapeutics reported financial results for the third quarter ended September 30, 2023 and recent business highlights.
Key Takeaways
C4 Therapeutics reported a net loss of $27.0 million for Q3 2023, with revenue of $11.1 million. The company's cash, cash equivalents, and marketable securities totaled $246.4 million as of September 30, 2023, expected to provide runway into 2H 2025. A portfolio decision was made to not advance CFT8634 in Synovial Sarcoma and SMARCB-1 Null Tumors.
Prioritized ongoing Phase 1/2 trials of CFT7455 and CFT1946.
CFT8634 will not advance in Synovial Sarcoma and SMARCB-1 Null Tumors due to insufficient single agent efficacy.
Phase 1 dose escalation of CFT7455 continues in combination with Dexamethasone in Relapsed/Refractory Multiple Myeloma and as a monotherapy in Non-Hodgkin’s Lymphoma.
Cash, cash equivalents, and marketable securities totaled $246.4 million as of September 30, 2023, expected to provide runway into 2H 2025.
Revenue by Segment
Forward Guidance
C4T expects that its cash, cash equivalents and marketable securities as of September 30, 2023, will be sufficient to fund planned operating expenses and capital expenditures into the second half of 2025.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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