C4 Therapeutics, Inc. ( (CCCC) ) has released its Q4 earnings. Here is a breakdown of the information C4 Therapeutics, Inc. presented to its investors.
C4 Therapeutics, Inc. is a clinical-stage biopharmaceutical company specializing in targeted protein degradation to develop innovative treatments for difficult-to-treat diseases, particularly in the oncology sector. The company recently released its financial results for the fourth quarter and full year of 2024, highlighting significant progress in its clinical programs and collaborations.
C4 Therapeutics reported a notable increase in revenue for 2024, driven by new collaborations with major pharmaceutical companies such as Merck and Biogen. The company is advancing its lead programs, including cemsidomide for multiple myeloma and non-Hodgkin’s lymphoma, and CFT1946 for BRAF V600 mutant solid tumors. The company also initiated a new clinical trial for CFT8919 in Greater China, focusing on EGFR mutations in non-small cell lung cancer.
Financially, C4 Therapeutics achieved a revenue of $35.6 million for the year, a significant increase from the previous year, while managing to reduce its net loss to $105.3 million. The company maintained a strong cash position with $267.3 million in cash, cash equivalents, and marketable securities, expected to support operations into 2027. Research and development expenses slightly decreased due to restructuring activities, while general and administrative expenses remained stable.
Looking ahead, C4 Therapeutics plans to continue its clinical advancements with key milestones expected in 2025, including the completion of Phase 1 trials for cemsidomide and CFT1946. The company remains focused on leveraging its TORPEDO platform to develop innovative treatments and expand its clinical programs, aiming to transform patient outcomes in oncology.