CytomX to cut ~40% of workforce, focus on CX-2051, extend cash runway

CytomX Therapeutics, Inc.

Workforce reduction of ~40%, primarily affecting G&A and non-partnered research staff, substantially complete in Q1 2025.
Estimated restructuring charges of $5M to $6M, mostly severance, recorded in Q1 2025.
Cash payments of ~$5M starting Q1 2025; cash runway extended into Q2 2026.
Company to prioritize CX-2051 (EpCAM PROBODY ADC) and support research collaborations.

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