C4 Therapeutics Inc · Q3 2021 earnings

Briefing

C4 Therapeutics reported financial results and business highlights, progressing CFT7455 study, advancing CFT8634 and CFT1946 programs, and maintaining focus on four clinical-stage programs by year-end 2022.

C4 Therapeutics reported third quarter 2021 revenue of $8.5 million, a net loss of $24.7 million, and a net loss per share of $0.51. The company's cash, cash equivalents, and marketable securities totaled $480.3 million as of September 30, 2021. C4T is on track to achieve four clinical programs by year-end 2022.

• Phase 1/2 study of CFT7455, a Novel IKZF1/3 Degrader, is progressing with data expected in 2022.
• Investigational New Drug (IND) Application for CFT8634, a Degrader Targeting BRD9 for the Treatment of Synovial Sarcoma and SMARCB1-null Tumors, is on track for submission by YE 2021.
• Development Candidate CFT1946, a BRAF V600X Degrader, is in IND-enabling Activities; C4T to Advance CFT1946 Independently.
• C4T is on track to deliver Four Clinical-stage Programs by YE 2022.

Headline financials

Revenue & EPS history

C4T expects that our cash, cash equivalents and marketable securities as of September 30, 2021, together with future payments expected to be received under existing collaboration agreements, will be sufficient to fund planned operating expenses and capital expenditures for at least the next 24 months.