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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 (CCCC) presented Phase 1 trial data for cemsidomide at the ASH Annual Meeting, showing promising results in both multiple myeloma (MM) and non-Hodgkin's lymphoma (NHL). In MM, cemsidomide with dexamethasone achieved a 36% overall response rate and 45% clinical benefit rate at the highest dose level. The drug demonstrated a well-tolerated safety profile with manageable neutropenia.
In NHL, cemsidomide monotherapy showed a 38% overall response rate and 19% complete metabolic response rate. Notably, in peripheral T-cell lymphoma, the drug achieved a 44% overall response rate and 25% complete metabolic response rate. The company is positioning cemsidomide for future development in multiple myeloma combination regimens and various NHL subtypes.
C4 Therapeutics (Nasdaq: CCCC) has appointed Steve Hoerter to its Board of Directors. Hoerter brings over 30 years of oncology commercialization and leadership experience, most recently serving as president and CEO of Deciphera Pharmaceuticals, which was acquired by ONO Pharmaceutical for $2.4 billion in June 2024. At Deciphera, he led the successful approval and launch of QINLOCK® for gastrointestinal stromal tumors. His previous roles include chief commercial officer at Agios Pharmaceuticals, where he oversaw the launches of TIBSOVO® and IDHIFA® for acute myeloid leukemia.
C4 Therapeutics (Nasdaq: CCCC) announced that its partner Betta Pharmaceuticals has dosed the first patient in a Phase 1 clinical trial of CFT8919 in Greater China. CFT8919 is an orally bioavailable allosteric degrader targeting EGFR L858R mutations in non-small cell lung cancer (NSCLC). The drug aims to overcome limitations of current EGFR tyrosine kinase inhibitors, particularly for patients with the L858R mutation. In China, where approximately 693,000 NSCLC cases are diagnosed annually, about 50% have EGFR mutations, with L858R being present in roughly 40% of EGFR-mutated cases. The collaboration with Betta Pharmaceuticals could yield up to $357 million in milestones plus royalties for C4T.
C4 Therapeutics (Nasdaq: CCCC) announced the acceptance of two abstracts from their ongoing Phase 1/2 trial of cemsidomide for presentation at the ASH Annual Meeting in December 2024. The presentations will include Non-Hodgkin's lymphoma (NHL) data as an oral presentation and multiple myeloma (MM) data as a poster presentation. Both presentations will feature updated data compared to the abstracts on December 8th. The company will host an investor webcast at 2 PM PT following the presentations to discuss the results.
Lauren White has been appointed as Chief Financial Officer of Seaport Therapeutics, a clinical-stage biopharmaceutical company focused on neuropsychiatric medicines. White previously served as CFO at ImmunoGen, where she played a important role in the company's $10.1 billion acquisition by AbbVie in 2024 and the commercial launch of ELAHERE®. With over 22 years of experience, White's background includes positions at C4 Therapeutics, Novartis, Boston Consulting Group, and General Electric. She holds a BS from Boston College and an MBA from Harvard Business School.
C4 Therapeutics (CCCC) reported Q3 2024 financial results with revenue of $15.4 million, up from $11.1 million in Q3 2023. Net loss was $24.7 million ($0.35 per share). The company ended Q3 with $284.4 million in cash and equivalents, expected to fund operations into 2027.
Key highlights include progress in clinical trials for cemsidomide in multiple myeloma and non-Hodgkin's lymphoma, with data to be presented at ASH. CFT1946 showed promising initial monotherapy data with a well-tolerated safety profile. The company earned an $8 million milestone payment from Biogen for delivering a second development candidate.
C4 Therapeutics (Nasdaq: CCCC) announced the approval of an inducement grant consisting of non-qualified stock options to purchase 345,600 shares of common stock for one new employee. The grant, approved by independent directors on the Organization, Leadership and Compensation Committee, was made on October 28, 2024. The exercise price equals the closing price on the grant date. The options will vest over four years, with 25% vesting after one year and the remaining shares vesting in 36 monthly installments, contingent on continued employment.
C4 Therapeutics (Nasdaq: CCCC) has announced the appointment of Paige Mahaney, Ph.D. as the company's new Chief Scientific Officer (CSO), effective October 28, 2024. This follows the decision of Stewart Fisher, Ph.D. to retire. Dr. Fisher will serve as senior scientific advisor through the end of 2024 and as a consultant until the end of 2025.
Dr. Mahaney brings over 25 years of pharmaceutical and biotech experience, most recently serving as senior vice president and corporate head of drug discovery at Exelixis, Inc. Her expertise includes expanding clinical portfolios and advancing drug candidates across various disease indications.
During his tenure at C4T, Dr. Fisher supported the development of the TORPEDO® platform and led the development of a library of over 10,000 Cereblon ligands. Under his leadership, C4T has advanced three novel degraders into the clinic and partnered with global pharmaceutical companies to extend the reach of targeted protein degradation.
C4 Therapeutics (Nasdaq: CCCC), a clinical-stage biopharmaceutical company focused on targeted protein degradation, announced its participation in the 7th Annual Targeted Protein Degradation & Induced Proximity Summit from October 28-31, 2024, in Boston. Four company leaders will deliver presentations and participate in panel discussions, showcasing C4T's expertise in developing orally bioavailable degraders.
Key presentations include:
- CEO Andrew Hirsch in a panel on strategic outlook for the field
- CSO Stew Fisher on leveraging kinetics-based PKPD modeling for degrader optimization
- CMO Len Reyno presenting initial clinical data for CFT1946
- CBO Scott Boyle participating in two panels on strategic partnership deals
These presentations aim to demonstrate C4T's potential to transform patients' lives through their innovative approach to protein degradation science.
C4 Therapeutics (C4T), a clinical-stage biopharmaceutical company focused on targeted protein degradation science, has announced an inducement grant for a new employee. The grant, approved by the independent directors on the Organization, Leadership and Compensation Committee, consists of non-qualified stock options to purchase 146,880 shares of C4T's common stock.
The grant was made on September 30, 2024, in accordance with Nasdaq Listing Rule 5635(c)(4). The exercise price is equal to the closing price of C4T's common stock on the grant date. The options will vest over four years, with 25% vesting after one year and the remainder vesting in twelve equal monthly installments, subject to continued employment.