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CytomX Therapeutics Inc (CTMX)
NASDAQ:CTMX
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CytomX Therapeutics
(NASDAQ:CTMX)53Neutral
Positive Factors
Financial Performance
CytomX reported its 3Q24 financials, recording a net profit of $0.07 per share for the period vs. prior estimate of net loss of $0.09 per share.
Revenue Growth
CytomX recorded $33.4M in revenue for 3Q24, vs. most recent estimate of $25.0M.
Negative Factors
Stock Price Reaction
The net reaction to the earnings call presentation led to a significant drop in stock price, settling at -35% since regular trading.
CytomX Therapeutics (CTMX) vs. S&P 500 (SPY)
Market Cap
$51.09M
Dividend YieldN/A
Average Volume (3M)672.79K
Price to Earnings (P/E)3.6
Beta (1Y)1.63
Revenue Growth33.66%
EPS GrowthN/A
CountryUS
Employees122
SectorHealthcare
Sector Strength74
IndustryBiotechnology
Share Statistics
EPS (TTM)0.17
Shares Outstanding78,258,880
10 Day Avg. Volume626,245
30 Day Avg. Volume672,795
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.40
Price to Cash Flow (P/CF)-0.60
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$4.69Price Target Upside656.45% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
CytomX Therapeutics Business Overview & Revenue Model
Company DescriptionCytomX Therapeutics, Inc. is a biotechnology company that specializes in the development of novel therapeutics for the treatment of cancer and other serious diseases. The company is headquartered in South San Francisco, California, and operates primarily in the pharmaceutical and biotechnology sectors. CytomX is known for its proprietary Probody platform, which is designed to create therapies that remain inactive until they reach the tumor microenvironment, thereby minimizing off-target effects and enhancing safety and efficacy.
How the Company Makes MoneyCytomX Therapeutics generates revenue primarily through collaboration and licensing agreements with larger pharmaceutical companies. These partnerships typically involve upfront payments, milestone payments, and royalties on sales of products developed using its Probody platform. Key collaborations include alliances with industry leaders such as Bristol-Myers Squibb, AbbVie, and Amgen, among others. Additionally, the company may engage in research and development grants and contracts that contribute to its revenue stream. The success and progression of its proprietary drug candidates through clinical trials also play a critical role in attracting further investment and partnership opportunities.
CytomX Therapeutics Financial Statement Overview
Summary
CytomX Therapeutics shows promising revenue growth with a high gross margin, indicating operational improvements. However, negative equity and cash flow challenges present significant financial risks that must be addressed for sustainable growth.Income Statement
CytomX Therapeutics has demonstrated a significant improvement in revenue with a 25.07% increase in TTM (Trailing-Twelve-Months) compared to the previous year. The gross profit margin is exceedingly high at 98.88%, indicating effective cost management. However, the net profit margin of 10.92% reflects moderate profitability, with potential for further improvement. The EBIT and EBITDA margins are positive at 5.30% and 6.39% respectively, marking a turnaround from negative margins in prior years.65
Positive
Balance Sheet
The balance sheet reveals concerning aspects with negative stockholders' equity, resulting in an inability to calculate the debt-to-equity ratio. The return on equity also cannot be determined due to negative equity. The equity ratio is negative, indicating liabilities exceed assets, which poses a risk to financial stability despite a reduction in total liabilities over the years.30
Negative
Cash Flow
CytomX's cash flow statement shows a negative free cash flow growth rate, indicating a deteriorating cash position. The operating cash flow to net income ratio is negative, suggesting that operating activities are not generating sufficient cash relative to net income. The free cash flow to net income ratio is also negative, underlining cash flow challenges despite positive net income in the latest TTM.45
Neutral
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 126.62M | 101.21M | 53.16M | 69.57M | 100.36M | 57.49M | Gross Profit |
| 125.20M | 101.21M | 47.31M | 63.73M | 100.36M | 57.49M | EBIT |
| 6.71M | -6.48M | -101.33M | -83.78M | -48.60M | -110.89M | EBITDA |
| 8.09M | -4.31M | -98.89M | -113.34M | -77.97M | -138.88M | Net Income Common Stockholders |
| 13.83M | -569.00K | -97.30M | -80.65M | -32.88M | -102.24M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 150.28M | 174.51M | 193.65M | 305.23M | 316.12M | 296.14M | Total Assets |
| 184.69M | 201.79M | 260.89M | 339.41M | 358.66M | 341.28M | Total Debt |
| 12.87M | 13.97M | 18.06M | 18.06M | 24.87M | 24.87M | Net Debt |
| -23.31M | -3.20M | -175.59M | -187.47M | -166.99M | -163.55M | Total Liabilities |
| 216.37M | 249.24M | 346.64M | 250.03M | 308.86M | 290.17M | Stockholders Equity |
| -31.68M | -47.45M | -85.75M | 89.38M | 49.80M | 51.11M |
| Cash Flow | Free Cash Flow | ||||
| -88.78M | -56.88M | -112.53M | -120.64M | 2.95M | -143.98M | Operating Cash Flow |
| -88.29M | -56.03M | -110.79M | -119.03M | 5.26M | -140.48M | Investing Cash Flow |
| 97.43M | -150.67M | 98.26M | 22.49M | -18.72M | 79.70M | Financing Cash Flow |
| 5.52M | 30.23M | 648.00K | 110.21M | 16.89M | 1.63M |
CytomX Therapeutics Technical Analysis
Negative
0.62
Price Trends
0.87
Negative
0.97
Negative
1.16
Negative
Market Momentum
-0.07
Positive
27.44
Positive
13.64
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CTMX, the sentiment is Negative. The current price of 0.62 is below the 20-day moving average (MA) of 0.74, below the 50-day MA of 0.87, and below the 200-day MA of 1.16, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 27.44 is Positive, neither overbought nor oversold. The STOCH value of 13.64 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CTMX.
CytomX Therapeutics Risk Analysis
CytomX Therapeutics disclosed 72 risk factors in its most recent earnings report. CytomX Therapeutics reported the most risks in the “Tech & Innovation” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
CytomX Therapeutics Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
53 Neutral | $51.09M | 3.62 | -58.97% | ― | 33.66% | ― | |
52 Neutral | $5.75B | ― | -31.26% | ― | 104.04% | 87.80% | |
49 Neutral | $7.05B | 0.34 | -55.09% | 2.46% | 25.27% | -3.43% | |
44 Neutral | $129.60M | ― | -53.54% | ― | 145.37% | 57.01% | |
42 Neutral | $254.51M | ― | -31.41% | ― | 389.82% | -22.66% | |
39 Underperform | $103.09M | ― | -54.21% | ― | -87.34% | 6.37% | |
37 Underperform | $51.51M | ― | 41.08% | ― | -0.55% | 49.85% |
* Healthcare Sector Average
Performance Comparison
CTMX
CytomX Therapeutics
0.62
-1.88
-75.20%
XOMA
Xoma
21.69
-3.02
-12.22%
FATE
Fate Therapeutics
1.04
-7.08
-87.19%
KPTI
Karyopharm Therapeutics
6.22
-17.33
-73.59%
BPMC
Blueprint Medicines
88.54
-3.76
-4.07%
ADAP
Adaptimmune Therapeutics
0.49
-1.26
-72.00%
CytomX Therapeutics Earnings Call Summary
Earnings Call Date: Mar 6, 2025 | % Change Since: 0.00% | Next Earnings Date: May 7, 2025
Earnings Call Sentiment Neutral
The earnings call reflected a balanced sentiment. While there were significant achievements in revenue growth, pipeline progress, and strong collaborations, there were also concerns over increased expenses and delays in key clinical decisions.Highlights
Increased Revenue
Revenue for Q3 2024 was $33.4 million, a significant increase from $26.4 million in Q3 2023, driven by collaborations with Bristol-Myers Squibb and Moderna.
Advancements in CX-904
CX-904 has shown favorable safety profile and encouraging early signs of anticancer activity. The 15-milligram dose cohort has cleared without reaching a maximum tolerated dose, indicating potential for further escalation.
Progress with CX-2051
Dose escalation for CX-2051 is progressing well, with the fifth cohort underway, demonstrating a favorable safety profile. This program targets a large potential market with an estimated 300,000 EpCAM-positive patients in the U.S.
Pipeline Expansion and Collaborations
CytomX has more than 15 active discovery and development programs, with strong partnerships with Amgen, Astellas, BMS, Moderna, and Regeneron, focusing on masked T-cell engagers.
Financial Stability
CytomX ended Q3 2024 with $118 million in cash, with expectations to fund operations through the end of 2025.
Lowlights
Increased Operating Expenses
Operating expenses rose to $29.3 million in Q3 2024, up by $6.1 million from Q3 2023, largely due to increased R&D and G&A expenses.
Delay in Phase Ib Decision for CX-904
Decision regarding the initiation of Phase Ib for CX-904 has been delayed as dose escalation is still ongoing, pushing potential decisions and updates to 2025.
Company Guidance
During CytomX Therapeutics' Q3 2024 earnings call, the company provided guidance on its advancing pipeline and financial health. The discussion highlighted three key programs: CX-904, CX-2051, and CX-801. CX-904, a Probody T-cell engager targeting EGFR and CD3, is in dose escalation, having reached a 15-milligram step without a maximum tolerated dose identified. Meanwhile, CX-2051, an EpCAM-directed antibody drug conjugate, is progressing swiftly in Phase I, enrolling its fifth dose cohort and showing promising safety data. The company also initiated the Phase I trial for CX-801, aiming for initial data by late 2025. Financially, CytomX reported Q3 revenue of $33.4 million, up from $26.4 million the previous year, driven by collaborations with Bristol-Myers Squibb and Moderna. Operating expenses rose to $29.3 million due to increased R&D spending, with cash reserves projected to fund operations through 2025. These efforts underscore CytomX's strategic focus on advancing its platform of masked, conditionally activated biologics to address high unmet needs in oncology.CytomX Therapeutics Corporate Events
Executive/Board Changes
CytomX Therapeutics Announces Executive Departure and Severance
Neutral
Feb 3, 2025
On January 30, 2025, CytomX Therapeutics announced the termination of employment for Jeffrey Landau, the Senior Vice President, Chief Business Officer, and Head of Strategy, effective February 7, 2025. The company has arranged a Separation Agreement that provides economic payments consistent with Mr. Landau’s prior severance agreement, and includes a general release of claims against the company.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.