C4 Therapeutics Outlines Strategic Milestones to Advance Cemsidomide as a Potential Best-in-Class IKZF1/3 Degrader and Discovery Strategy Focused on Novel Targets in Clinically Validated Pathways

Rhea-AI Summary

C4 Therapeutics (Nasdaq: CCCC) outlined milestones through 2028 focused on advancing cemsidomide as an IKZF1/3 degrader and progressing internal discovery in inflammation and neuro‑degeneration. Key near‑term actions include initiating the Phase 2 MOMENTUM trial in Q1 2026 (recommended Phase 2 dose: 100 µg) with planned 12‑month enrollment, and initiating a Phase 1b combo trial with elranatamab in Q2 2026. Reported Phase 1 ORR was 40% at 75 µg and 53% at 100 µg. The company says cash runway extends to end of 2028, target NDA submission for fourth‑line cemsidomide by year‑end 2028, and up to three INDs for discovery programs by year‑end 2028.

Positive

• Phase 1 ORR of 53% at 100 µg
• Selected 100 µg as recommended Phase 2 dose
• Cash runway through end of 2028
• Plan to initiate Phase 2 MOMENTUM in Q1 2026

Negative

• Initial MOMENTUM enrollment period of 12 months delays readouts
• Initial MOMENTUM ORR readout not expected until 2H 2027

News Market Reaction

+0.87%

5 alerts

+0.87% News Effect

+2.7% Peak Tracked

-8.7% Trough Tracked

+$2M Valuation Impact

$239M Market Cap

0.1x Rel. Volume

On the day this news was published, CCCC gained 0.87%, reflecting a mild positive market reaction. Argus tracked a peak move of +2.7% during that session. Argus tracked a trough of -8.7% from its starting point during tracking. Our momentum scanner triggered 5 alerts that day, indicating moderate trading interest and price volatility. This price movement added approximately $2M to the company's valuation, bringing the market cap to $239M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Recommended Phase 2 dose: 100 µg ORR at 75 µg: 40% ORR at 100 µg: 53% +5 more

8 metrics

Recommended Phase 2 dose 100 µg Cemsidomide dose selected for Phase 2 MOMENTUM trial

ORR at 75 µg 40% Phase 1 cemsidomide + dexamethasone in heavily pretreated patients

ORR at 100 µg 53% Phase 1 cemsidomide + dexamethasone in heavily pretreated patients

MOMENTUM Phase 2 start Q1 2026 Planned initiation of cemsidomide + dexamethasone trial

Phase 1b combo start Q2 2026 Planned cemsidomide + elranatamab trial initiation

Cash runway End of 2028 Company-stated funding horizon through key inflection points

Planned INDs Up to three Targeted by year-end 2028 from internal discovery projects

Novel targets Five targets, three pathways Discovery strategy in inflammation and neuro-inflammation pathways

Market Reality Check

Price: $1.90 Vol: Volume 1,716,186 is close...

normal vol

$1.90 Last Close

Volume Volume 1,716,186 is close to the 20-day average 1,754,962 (relative volume 0.98). normal

Technical Trading above the 200-day MA of 2.08 with price at 2.31.

Peers on Argus

CCCC gained 8.45% while peers showed mixed moves: TRDA up 5.55%, SLS up 3.23%, E...

CCCC gained 8.45% while peers showed mixed moves: TRDA up 5.55%, SLS up 3.23%, ELTX up 0.91%, but IPHA down 0.82% and NTHI down 5.15%, pointing to a stock-specific reaction.

Historical Context

5 past events · Latest: Nov 25 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Nov 25	Conference participation	Positive	+0.8%	Announcement of fireside chat at Evercore healthcare investor conference.
Nov 06	Earnings and update	Positive	+0.4%	Q3 2025 results plus cemsidomide ORR data and extended runway.
Oct 16	Equity offering	Neutral	+11.7%	Pricing of $125M underwritten equity and warrant package for trial funding.
Oct 16	Pfizer collaboration	Positive	-3.1%	Clinical trial collaboration with Pfizer for cemsidomide plus elranatamab.
Sep 04	Biogen milestone	Positive	+4.3%	Biogen IND acceptance for BIIB142 with $2M milestone to C4T.

Pattern Detected

Recent news has usually seen modest positive price reactions, with one notable divergence where positive clinical-collaboration news coincided with a decline.

Recent Company History

Over the past few months, C4 Therapeutics has advanced financing, collaborations, and clinical plans. An October 2025 underwritten offering raised significant capital for cemsidomide trials, followed by Q3 2025 results highlighting strong cemsidomide ORR data and extended runway. Collaboration updates with Pfizer and Biogen reinforced the partnered strategy. Conference participation in late 2025 maintained investor visibility. Today’s detailed 2026–2028 milestones and cash runway guidance build directly on these financing and clinical foundations.

Regulatory & Risk Context

Active S-3 Shelf · $400,000,000

Shelf Active

Active S-3 Shelf Registration 2025-11-21

$400,000,000 registered capacity

An effective S-3 shelf filed on 2025-11-21 allows C4 Therapeutics to offer up to $400,000,000 of securities, including up to $125,000,000 via a sales agreement prospectus, providing flexible access to capital for R&D, pipeline expansion, and general corporate purposes.

Market Pulse Summary

This announcement lays out a multi-year development plan for cemsidomide, including Phase 2 and Phas...

Analysis

This announcement lays out a multi-year development plan for cemsidomide, including Phase 2 and Phase 1b starts in 2026, and targets up to three INDs by 2028. It reiterates a cash runway to the end of 2028, supported by prior equity financing. Historically, the stock has often reacted modestly positively to clinical and collaboration news. Key watchpoints include timely trial initiations, durability of cemsidomide ORR data, and any future use of the $400,000,000 shelf.

Key Terms

phase 2, phase 1b, overall response rate (orr), bcma bite, +4 more

8 terms

phase 2 medical

"Cemsidomide Phase 2 MOMENTUM Trial On Track to Initiate in Q1 2026"

Phase 2 is the mid-stage clinical trial where a new drug or treatment is tested in a larger group of patients to see if it works and to keep checking safety after initial human testing. Think of it as a field test that proves whether a product actually delivers its promised benefit. Investors watch Phase 2 closely because its results strongly influence a medicine’s chances of reaching the market, the size of its potential sales, and the company’s valuation.

phase 1b medical

"Cemsidomide Phase 1b Trial in Combination With Elranatamab On Track to Initiate"

"Phase 1b" is an early stage in testing a new medical treatment or vaccine, where it is given to a small group of people to evaluate its safety and determine the right dose. For investors, this phase signals progress in development, indicating the treatment is advancing through initial safety checks, which can influence expectations for future success and potential market impact.

overall response rate (orr) medical

"two highest dose levels (75 µg and 100 µg) achieved a 40% and 53% ORR"

Overall response rate (ORR) is the percentage of trial participants whose disease measurably improves—typically tumor shrinkage or disappearance—according to predefined medical criteria. Investors watch ORR because it provides an early, concrete signal of a therapy’s effectiveness and commercial potential, similar to seeing what share of products in a test batch actually work before deciding to back wider production.

bcma bite medical

"initiate the Phase 3 trial evaluating cemsidomide in combination with a BCMA BiTE"

A BCMA BiTE is a type of cancer drug that acts like a two-headed connector: one end grabs a protein commonly found on certain blood cancer cells (BCMA) and the other end brings a patient’s T cell close enough to kill the cancer cell. For investors it signals a targeted immunotherapy approach with the potential for high payoff if safe and effective in trials, but it also carries development, regulatory and competitive risks common to novel cancer treatments.

investigational new drug applications regulatory

"By year-end 2028, deliver up to three investigational new drug applications."

An investigational new drug application is the formal request a drug developer files with a regulatory agency to begin testing an experimental medicine in humans. Think of it as asking permission to move from lab work into human trials; it matters to investors because approval to start clinical testing signals a clear development milestone, unlocks further funding and partnerships, and helps determine the timeline and risk for potential future sales.

molecular glue degraders medical

"identify molecular glue degraders for targets with and without G- and RT-loops"

Small drug-like molecules that act like molecular Velcro, binding a normal cellular cleanup enzyme and a disease-causing protein at the same time so the cell’s disposal system tags and destroys the target. They matter to investors because this approach can enable medicines against proteins that were previously hard to drug, creating new therapeutic opportunities, reshaping drug pipelines and affecting a company’s future revenue prospects.

dna-encoded library (del) technology technical

"by utilizing DNA-encoded library (DEL) technology."

A DNA-encoded library (DEL) is a drug-discovery method that attaches a unique DNA “barcode” to millions to billions of small chemical compounds so they can be screened all at once against a biological target. Think of it as putting ID tags on every item in a giant warehouse so you can quickly find which ones stick to a disease-related protein. For investors, DELs can speed and cut the cost of finding promising drug candidates, expand the range of potential medicines, and create value through faster partnerships or licensing.

blood brain barrier medical

"degraders that penetrate the blood brain barrier to achieve high central"

A selective biological barrier formed by tightly joined cells around the brain’s blood vessels that controls which chemicals, medicines, and cells can pass from the bloodstream into the brain, acting like a security checkpoint or fine sieve. It matters to investors because a drug’s ability to cross or be excluded by this barrier can make or break development, affecting clinical success, regulatory approval, timelines, and commercial potential in neurological and psychiatric markets.

AI-generated analysis. Not financial advice.

 Cemsidomide Phase 2 MOMENTUM Trial On Track to Initiate in Q1 2026; Recommended Phase 2 Dose is 100 µg

Cemsidomide Phase 1b Trial in Combination With Elranatamab On Track to Initiate in Q2 2026

Internal Discovery Strategy Progressing Efforts Focused on Inflammation, Neuro-inflammation and Neuro-degenerative Diseases With Novel Targets in Clinically Validated Pathways

Cash Runway to End of 2028 Provides Funding Through Key Value Inflection Points

WATERTOWN, Mass., Jan. 14, 2026 (GLOBE NEWSWIRE) -- C4 Therapeutics, Inc. (C4T) (Nasdaq: CCCC), a clinical-stage biopharmaceutical company dedicated to advancing targeted protein degradation science, today outlined milestones through 2028 and highlighted recent achievements.

“We begin 2026 with compelling opportunities ahead, anchored by cemsidomide’s path to become a foundational medicine for multiple myeloma by reaching patients across multiple lines of therapy. As we prepare to initiate two cemsidomide trials in the coming months, we believe the emerging data exploring the class in combination with BiTE therapies derisks our strategy to rapidly advance cemsidomide through registrational development,” said Andrew Hirsch, president and chief executive officer of C4 Therapeutics. “We are equally excited about our new discovery strategy that leverages a decade of learnings in the TPD field as well as the strengths of our platform to address unmet needs for inflammation, neuro-inflammation and neuro-degenerative diseases by degrading novel targets that modulate validated inflammatory pathways. Our strong balance sheet provides cash runway through key inflection points, keeping us positioned to advance our portfolio and create transformative medicines for patients.”

Anticipated Key Strategic Milestones
C4T’s vision is to become a fully integrated biopharmaceutical company leveraging the benefits of targeted protein degradation across drug discovery, clinical development and commercialization to create and deliver breakthrough therapies for patients. To achieve this vision, C4T’s strategy centers around rapidly advancing cemsidomide to become the IKZF1/3 degrader of choice across lines of therapy and progressing its early portfolio of high-value degraders pursuing novel targets. The following anticipated key strategic milestones through 2028 support this strategy.

Cemsidomide
Relapsed/Refractory Multiple Myeloma: Fourth Line or Later

• In Q1 2026, initiate the Phase 2 MOMENTUM trial of cemsidomide and dexamethasone and complete enrollment within 12 months.
• In mid-2026, present further analysis of the data from the ongoing Phase 1 trial of cemsidomide and dexamethasone.
• In 2H 2027, present initial overall response rate (ORR) data for the MOMENTUM trial.
• In mid-2028, present efficacy and safety for the MOMENTUM trial.
• By year-end 2028, submit new drug application evaluating cemsidomide and dexamethasone for potential accelerated approval in fourth line or later.
  

Relapsed/Refractory Multiple Myeloma: Second Line or Later

• In Q2 2026, initiate the Phase 1b trial of cemsidomide in combination with elranatamab and provide incremental updates throughout dose escalation.
• In mid-2026, share the plan to initiate an additional Phase 1b trial to evaluate cemsidomide in combination with other anti-myeloma agents.
• In mid-2027, present Phase 1b data from all cohorts evaluating cemsidomide in combination with elranatamab.
• By early 2028, initiate the Phase 3 trial evaluating cemsidomide in combination with a BCMA BiTE.

Early Portfolio: CFT8919

• In Q1 2026, utilize data from the Phase 1 dose escalation trial to inform ex-China clinical development.
  

Early Portfolio: Internal Discovery Projects Focused on Inflammation, Neuro-inflammation and Neuro-degenerative Diseases

• By year-end 2028, deliver up to three investigational new drug applications.
  

Early Portfolio: Discovery Collaborations

• Earn additional research milestones and potential licensing fees from collaborations with Merck KGaA, Darmstadt, Germany, Roche and Biogen.
• By year-end 2026, deliver at least one development candidate to a collaboration partner.
• By year-end 2026, advance existing collaborations toward key milestones.
  

2025 Achievements
Cemsidomide

• Completed enrollment in the Phase 1 trial of cemsidomide and dexamethasone and presented data demonstrating that the two highest dose levels (75 µg and 100 µg) achieved a 40% and 53% ORR, respectively. This compelling anti-myeloma activity in a heavily pretreated patient population reinforces cemsidomide’s potential best-in-class profile.
• Developed a regulatory path incorporating FDA feedback that positions cemsidomide to potentially receive two distinct accelerated approvals in (1) fourth line or later for cemsidomide and dexamethasone, and (2) second line or later for cemsidomide in combination with a BCMA BiTE.
• Selected 100 µg dose for the MOMENTUM trial as the recommended Phase 2 dose after discussions with FDA.
  

CFT8919

• Advanced the Phase 1 dose escalation trial in China with partner Betta Pharmaceuticals to generate data that will inform C4T’s next steps.
  

Internal Discovery Pipeline

• Implemented new discovery strategy focused on developing degrader medicines for five novel targets that modulate three clinically validated pathways for inflammation, neuro-inflammation and neuro-degenerative diseases to potentially deliver new therapies with enhanced efficacy for patients with unmet needs. This strategy leverages C4T’s expertise in developing highly catalytic orally bioavailable degraders that penetrate the blood brain barrier to achieve high central nervous system exposures and compelling efficacy in central nervous system models as well as C4T’s ability to control targeted protein levels through finely tuned degrader kinetics.
• Extended capabilities to identify molecular glue degraders for targets with and without G- and RT-loops by utilizing DNA-encoded library (DEL) technology.

About Cemsidomide
Cemsidomide is an investigational, orally bioavailable molecular glue degrader of IKZF1/3, transcription factors that drive multiple myeloma. Data from the Phase 1 trial, which has completed enrollment, show cemsidomide’s differentiated safety and tolerability profile and potentially class-leading anti-myeloma activity that support the potential for durable outcomes.

About the MOMENTUM Trial
MOMENTUM (Multi-center trial Of cemsidoMidE iN relapsed/refracTory mUltiple Myeloma) is a Phase 2, open-label, single-arm study to evaluate the efficacy, safety, pharmacokinetics and pharmacodynamics of cemsidomide in combination with dexamethasone in patients with relapsed/refractory multiple myeloma. Data from the Phase 1 trial identified 100 µg as the recommended Phase 2 dose. The primary endpoint is overall response rate per International Myeloma Working Group response criteria, as assessed by an independent review committee. Approximately 100 patients who have received at least three prior anti-myeloma regimens that must have included an IKZF1/3 degrader, a proteasome inhibitor, an anti-CD38 antibody, and a T-cell engager or CAR-T therapy will be enrolled in the trial. More information is available at clinicaltrials.gov (NCT07284758).

About Cemsidomide in Combination With Elranatamab (ELREXFIO^®)
The Phase 1b trial is designed to evaluate the safety, tolerability and preliminary efficacy of cemsidomide in combination with elranatamab, an FDA-approved B-cell maturation antigen CD3 targeted bispecific antibody. The study will evaluate different cemsidomide dose levels (beginning with 75 µg, with the opportunity to simultaneously explore 50 µg and 100 µg) in patients who have received one to four prior lines of therapy, which must have consisted of at least one IKZF1/3 degrader. Exclusion criteria for patients include those who have received prior treatment with a BCMA-directed T-cell engager or BCMA-directed CAR-T therapy. More information is available at clinicaltrials.gov (NCT07280013).

About Multiple Myeloma
Multiple myeloma (MM) is a rare blood cancer affecting plasma cells. Approximately 36,000 people in the United States are diagnosed with MM each year. Despite advances in treatment, MM remains incurable. Treatment combinations include IKZF1/3 degraders, which are established backbone therapies, across lines of therapy.

About C4 Therapeutics
C4 Therapeutics (C4T) (Nasdaq: CCCC) is a clinical-stage biopharmaceutical company dedicated to delivering on the promise of targeted protein degradation science to create a new generation of medicines that transforms patients’ lives. C4T is progressing targeted oncology programs through clinical studies and leveraging its TORPEDO^® platform to efficiently design and optimize small-molecule medicines to address difficult-to-treat diseases. C4T’s degrader medicines are designed to harness the body’s natural protein recycling system to rapidly degrade disease-causing proteins, offering the potential to overcome drug resistance, drug undruggable targets and improve patient outcomes. For more information, please visit www.c4therapeutics.com.

Forward Looking Statements
This press release contains “forward-looking statements” of C4 Therapeutics, Inc. within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include, but may not be limited to, express or implied statements regarding our ability to develop potential therapies for patients; the design and potential efficacy of our therapeutic approaches; the predictive capability of our TORPEDO platform in the development of novel, selective, orally bioavailable BiDAC™ and MonoDAC™ degraders; the potential timing, design and advancement of our preclinical studies and clinical trials, including the potential timing for and receipt of regulatory authorization related to clinical trials and other clinical development activities including clinical trial commencement and patient enrollment; our ability and the potential to successfully manufacture and supply our product candidates for clinical trials; our ability to replicate results achieved in our preclinical studies or clinical trials in any future studies or trials; our ability to replicate interim or early-stage results from our clinical trials in the results obtained when those clinical trials are completed or when those therapies complete later-stage clinical trials; regulatory developments in the United States and foreign countries; the anticipated timing and content of presentations of data from our clinical trials; and our ability to fund our future operations. Any forward-looking statements in this press release are based on management’s current expectations and beliefs of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: uncertainties related to the initiation, timing, advancement and conduct of preclinical and clinical studies and other development requirements for our product candidates; the risk that any one or more of our product candidates will cost more to develop or may not be successfully developed and commercialized; and the risk that sufficient capital to fund our future operations will not be available to us on acceptable terms or at the times required. For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the section entitled “Risk Factors” in C4 Therapeutics’ most recent Annual Report on Form 10-K and/or Quarterly Report on Form 10-Q, as filed with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and C4 Therapeutics undertakes no duty to update this information unless required by law.

Contacts:
Investors: 
Courtney Solberg
Associate Director, Investor Relations
CSolberg@c4therapeutics.com

Media: 
Loraine Spreen 
Senior Director, Corporate Communications & Patient Advocacy 
LSpreen@c4therapeutics.com

FAQ

When will C4 Therapeutics (CCCC) start the Phase 2 MOMENTUM trial for cemsidomide?

The company plans to initiate the Phase 2 MOMENTUM trial in Q1 2026 with enrollment to complete within 12 months.

What is the recommended Phase 2 dose of cemsidomide (CCCC)?

C4 selected 100 µg as the recommended Phase 2 dose.

What Phase 1 efficacy did C4 report for cemsidomide (CCCC)?

Phase 1 reported overall response rates of 40% at 75 µg and 53% at 100 µg.

When does C4 Therapeutics expect an NDA submission for cemsidomide (CCCC) in fourth‑line multiple myeloma?

C4 targets a new drug application submission by year‑end 2028 for cemsidomide and dexamethasone in fourth line or later.

When will C4 (CCCC) start the Phase 1b trial combining cemsidomide with elranatamab?

The company plans to initiate the Phase 1b combination trial in Q2 2026 and provide incremental dose‑escalation updates.

How long is C4’s cash runway for CCCC and what does it cover?

C4 reports cash runway through end of 2028, which it says funds development through key value inflection points.

What discovery milestones does C4 Therapeutics (CCCC) expect by 2028?

C4 expects to deliver up to three INDs for inflammation and neuro‑degeneration programs by year‑end 2028 and advance collaborations toward milestones.