C4 Therapeutics Inc · Q3 2024 earnings

Briefing

C4 Therapeutics reported financial results for the third quarter ended September 30, 2024, and recent business highlights.

C4 Therapeutics reported Q3 2024 revenue of $15.4 million compared to $11.1 million for Q3 2023. Net loss for the quarter was $24.7 million, or $0.35 per share, compared to a net loss of $27.0 million, or $0.55 per share, for the third quarter of 2023. Cash, cash equivalents and marketable securities totaled $284.4 million as of September 30, 2024, expected to provide runway into 2027.

• Cemsidomide Phase 1/2 trial in Multiple Myeloma and non-Hodgkin’s Lymphoma continues to progress; data from both indications to be presented at ASH Annual Meeting in San Diego, CA.
• Initial Monotherapy CFT1946 Phase 1 data demonstrated well-tolerated safety profile and early evidence of anti-tumor activity; Phase 1/2 Trial Continues to Progress with Multiple Data Readouts Expected in 2025.
• Paige Mahaney, Ph.D. was appointed as Chief Scientific Officer.
• Cash, cash equivalents and marketable securities of $284.4 million as of September 30, 2024; Expected to Provide Runway into 2027.

Headline financials

Revenue & EPS history

C4T expects that its cash, cash equivalents and marketable securities as of September 30, 2024 will be sufficient to fund planned operating expenses and capital expenditures into 2027.