earnings
confidence high
sentiment negative
materiality 0.65
C4 Therapeutics Q3 net loss widens to $32.0M; cash runway to end of 2024
C4 Therapeutics, Inc.
2022-Q3 EPS reported
-$1.86
revenue$28,242,000
- Net loss $32.0M ($0.65/diluted share) vs $24.7M ($0.51) in Q3 2021; revenue $6.8M vs $8.5M.
- Cash, equivalents & marketable securities $366.0M at Sep 30, down from $451.5M at Dec 31, 2021; runway to end of 2024.
- Phase 1/2 trials for CFT7455 (IKZF1/3 degrader in MM/NHL) and CFT8634 (BRD9 in synovial sarcoma) advancing dose escalation.
- IND clearance for CFT1946 (BRAF-V600 degrader) in Sep; Phase 1/2 to initiate by year-end 2022.
- Upcoming milestones: CFT8919 (EGFR L858R) IND-enabling activities to complete by year-end 2022.