secwatch.observer — SEC 8-K summary
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Issuer:     C4 Therapeutics, Inc. (CCCC)
CIK:        0001662579
Form:       8-K
Filed at:   2024-01-09T23:59:59+00:00
Accession:  0001628280-24-000947
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.05, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

C4 Therapeutics cuts workforce 30%, narrows focus on two clinical programs, reports $330M cash runway into 2027
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- Workforce reduction of ~30% (45 positions) substantially complete by end of Q1 2024; estimated charges of ~$3M.
- Unaudited cash, equivalents, and marketable securities of ~$330M as of Jan 5, 2024; expects cash runway into 2027.
- Raised ~$107M: $25M Betta equity, $10M Merck upfront, $72M net from ATM (13.7M shares at avg $5.42).
- Prioritizes CFT7455 (multiple myeloma/NHL) and CFT1946 (solid tumors) Phase 1/2 trials; data in 2H 2024.
- Supports CFT8919 partner trial (Betta) and collaborations with Roche, Biogen, Merck; internal discovery streamlined.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1662579/000162828024000947/0001628280-24-000947-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1662579/000162828024000947/cccc-20240109.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-000947

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer