C4 Therapeutics, Inc. reports developments tied to its clinical-stage targeted protein degradation business, including oncology programs designed with its TORPEDO® platform. Recurring company updates cover cemsidomide, an oral IKZF1/3 degrader being studied in relapsed/refractory multiple myeloma, as well as broader degrader-medicine research intended to address disease-causing proteins.
Company news also includes collaboration activity, such as its Roche agreement for degrader-antibody conjugates, along with clinical disclosures, operating and financial results, conference participation, equity inducement grants, and other governance matters under Nasdaq rules.
C4 Therapeutics, Inc. (Nasdaq: CCCC) has announced the pricing of a public offering of 4.25 million shares of common stock at $37.00 each. The offering, expected to yield approximately $157 million in gross proceeds, is set to close around June 21, 2021, pending customary conditions. An option for underwriters to purchase an additional 637,500 shares is included. J.P. Morgan, Jefferies, and other banks are managing the offering. C4T focuses on targeted protein degradation therapies for cancer and other diseases.
C4 Therapeutics, Inc. (Nasdaq: CCCC) announced a proposed public offering of 4,250,000 shares of its common stock, with an option for underwriters to purchase an additional 637,500 shares. The net proceeds will support the company's research and clinical development activities. The offering is dependent on market conditions and has yet to be finalized. Lead managers include J.P. Morgan, Jefferies, Evercore ISI, BMO Capital Markets, and UBS Investment Bank. The registration statement has been filed with the SEC but is not yet effective.
C4 Therapeutics (Nasdaq: CCCC) has announced the successful dosing of the first patient in its clinical trial for CFT7455, an innovative MonoDAC™ treatment targeting IKZF1/3 for multiple myeloma and non-Hodgkin’s lymphomas. This significant milestone marks the company’s first program to advance to clinical trials. The Phase 1/2 trial will assess safety, tolerability, and anti-tumor activity in approximately 160 patients. Preliminary data from this trial is expected in 2022, reflecting C4T's commitment to improving cancer treatment outcomes.
C4 Therapeutics presented new pre-clinical data on CFT8919, a novel EGFR degrader, indicating significant tumor regression in models resistant to current EGFR inhibitors. The results suggest CFT8919 is effective against mutations like L858R, T790M, and C797S. Pre-clinical studies showed 85% degradation of mutant EGFR in tumors following treatment. The company plans to file an IND by mid-2022 and initiate a Phase 1 clinical trial by year-end 2022, aiming to address unmet needs in non-small cell lung cancer therapy.
C4 Therapeutics (Nasdaq: CCCC) announced the advancement of CFT8919, a selective BiDAC degrader targeting EGFR L858R, into IND-enabling studies. The company expects to file for an IND by mid-2022, aiming to initiate a Phase 1/2 trial by year-end 2022. Preclinical data highlighting CFT8919's potency and selective activity against NSCLC will be presented at the Keystone Symposium. The company continues to progress its other drug candidates and aims to have four in clinical trials by the end of 2022.
C4 Therapeutics (Nasdaq: CCCC) appointed Lauren White as chief financial officer effective June 21, 2021, succeeding Bill McKee, who will remain as a part-time consultant. White brings over 20 years of financial experience from Novartis, where she held senior roles including global head of business planning. C4T aims to advance its portfolio of targeted protein degraders and is preparing to initiate its first clinical trial. The leadership change is anticipated to strengthen financial strategies while enhancing the company's mission of transforming cancer treatment.
C4 Therapeutics, Inc. (CCCC) reported first-quarter 2021 revenue of $7.4 million, up from $6.8 million in Q1 2020, attributed to collaborations with Roche, Biogen, and Calico. R&D expenses rose to $20.5 million from $16.3 million, driven by increased preclinical costs and workforce expansion. General and Administrative expenses jumped to $7.4 million from $2.8 million. The net loss was $21.0 million with a per-share loss of $0.49. C4T remains on track for upcoming clinical trials and IND submissions, maintaining a strong cash position of $346.0 million.
C4 Therapeutics, Inc. (Nasdaq: CCCC) announced its participation in two upcoming investor conferences. The first is the UBS Global Healthcare Conference on May 26, 2021, at 8:00 a.m. ET, followed by the Jefferies Healthcare Conference on June 1, 2021, at 10:30 a.m. ET. Live webcasts will be available on the company’s website, with replays archived for two weeks post-event. C4 Therapeutics focuses on developing small-molecule medicines that selectively degrade disease-causing proteins, offering a novel approach to treating cancer and other diseases.
C4 Therapeutics presented promising preclinical data for CFT7455, a MonoDAC degrader targeting IKZF1/3, indicating potential efficacy in treating multiple myeloma. High cereblon binding affinity (Kd = 0.9 nM) and rapid degradation of IKZF1/3 proteins were observed, leading to apoptotic cell death in multiple myeloma cell lines. In xenograft models, tumor regression was noted after treatment with CFT7455, both alone and in combination with dexamethasone. A Phase 1/2 clinical trial is expected to commence in 1H 2021, focusing on relapsed or refractory multiple myeloma and non-Hodgkin’s lymphomas.
C4 Therapeutics, Inc. (Nasdaq: CCCC) announced key milestones and financial results for 2020, reporting revenue of $33.2 million, an increase from $21.4 million in 2019. The net loss expanded to $66.3 million, while cash reserves increased to $372 million, projected to support operations through 2023. The FDA cleared the IND for lead candidate CFT7455, with a Phase 1/2 trial set to begin in 1H 2021. An IND for CFT8634 is planned for 2H 2021. The company expects to advance multiple programs by year-end 2022, bolstering its strategic position in hematologic malignancies.