C4 Therapeutics, Inc. Stock Price, News & Analysis

C4 Therapeutics reported significant advancements and financial results for 2021, including total revenue of $45.8 million, up from $33.2 million in 2020, primarily due to collaboration agreements. Despite a net loss of $83.9 million, the net loss per share improved to $1.82 from $5.83. The company anticipates its cash reserves of $451.5 million will sustain operations through 2024. Upcoming presentations at the AACR Annual Meeting will showcase clinical data on the CFT7455 trial for hematologic malignancies and pre-clinical data on novel candidates.

C4 Therapeutics (Nasdaq: CCCC) announced key milestones for 2022, including expected initial data for CFT7455, a novel degrader for multiple myeloma and lymphomas. The FDA granted IND clearance for CFT8634, allowing the initiation of its Phase 1 trial in synovial sarcoma. Additionally, CFT1946, targeting BRAF V600X, will enter trials in 2H 2022. With approximately $450 million in cash expected to last until late 2024, the company is poised for growth and innovation.

C4 Therapeutics (Nasdaq: CCCC), a clinical-stage biopharmaceutical company, will present at the 40th Annual J.P. Morgan Healthcare Conference on January 10, 2022, at 10:30 a.m. EST. This conference emphasizes the company's innovative approach to developing small-molecule medicines that selectively degrade disease-causing proteins.

The live webcast can be viewed on the company's website, with a replay available for two weeks post-event. C4 Therapeutics focuses on targeted protein degradation to improve treatment options for cancer and other diseases.

C4 Therapeutics, Inc. (Nasdaq: CCCC), a clinical-stage biopharmaceutical company, has been included in the NASDAQ Biotechnology Index, effective December 20, 2021. This index tracks notable biotechnology and pharmaceutical companies listed on NASDAQ, requiring eligibility criteria such as minimum market capitalization and average daily trading volume of 100,000 shares. C4 Therapeutics focuses on developing drugs that selectively degrade disease-causing proteins, offering advantages like reduced drug resistance and side effects. The company aims to target cancer and other diseases.

C4 Therapeutics (Nasdaq: CCCC) reported Q3 2021 revenue of $8.5 million, slightly up from $8.4 million YoY. R&D expenses rose to $24.3 million from $23.9 million, driven by pre-clinical costs. G&A expenses surged to $8.5 million from $2.9 million, mainly due to stock-based compensation and professional fees. A net loss of $24.7 million was recorded, with net loss per share at $0.51. The company anticipates submitting an IND application for CFT8634 by year-end 2021 and aims to deliver four clinical programs by the end of 2022.

C4 Therapeutics (Nasdaq: CCCC) reported significant advancements in their clinical programs and financials for Q2 2021. They initiated the Phase 1/2 trial of CFT7455 for hematologic malignancies and received Orphan Drug Designation from the FDA for this therapy. The company reported Q2 revenue of $9.8 million, a slight increase from $9.7 million in the previous year, and a net loss of $22.6 million, up from $10.8 million. A successful public offering yielded $180.8 million, bolstering cash reserves to approximately $499 million by June 30, 2021, supporting their ambitious clinical development plans.

C4 Therapeutics, Inc. (Nasdaq: CCCC) announced that the FDA granted orphan drug designation to its drug CFT7455 for treating multiple myeloma. This designation supports clinical development and provides potential market exclusivity in the U.S. Moreover, CFT7455 is designed to selectively target disease-causing proteins, with an ongoing Phase 1/2 trial aimed at evaluating its safety and anti-tumor activity, intending to enroll approximately 160 patients. C4 Therapeutics aims to improve outcomes for multiple myeloma patients who currently face limited treatment options.

C4 Therapeutics (Nasdaq: CCCC) announced the closing of an underwritten public offering of 4,887,500 shares at $37.00 per share, raising about $180.8 million in gross proceeds. This includes the full exercise of the underwriters' option for an additional 637,500 shares. The offering was managed by J.P. Morgan, Jefferies, Evercore ISI, BMO Capital Markets, and UBS Investment Bank. The funds will be directed towards advancing the company’s innovative small-molecule medicines aimed at degrading disease-causing proteins, a strategy that could potentially enhance cancer treatments.

C4 Therapeutics (Nasdaq: CCCC) presented promising pre-clinical data for its lead compound, CFT7455, at the ICML conference. This orally bioavailable MonoDAC™ demonstrated high binding affinity to cereblon and effective IKZF1/3 degradation in non-Hodgkin’s lymphoma (NHL) models. CFT7455 showed superior efficacy in xenograft models compared to approved therapies, including significant tumor regressions in various NHL subtypes. The Phase 1/2 trial, initiated in June 2021, aims to further assess CFT7455’s potential against multiple myeloma and NHLs, with top-line results expected in 2022.