Core Insights - C4 Therapeutics, Inc. is advancing its clinical development programs, particularly focusing on cemsidomide for multiple myeloma and non-Hodgkin's lymphoma, with trials expected to start in early 2026 [1][2] - The company reported a significant increase in total revenue for 2024, reaching $35.6 million, compared to $20.8 million in 2023, driven by new collaborations [9] - C4 Therapeutics has a strong cash position of $267.3 million as of December 31, 2024, which is expected to fund operations into 2027 [13][15] Cemsidomide Development - Cemsidomide is showing promising results in ongoing trials, with an overall response rate (ORR) of 36% in combination with dexamethasone and 38% in monotherapy across all subtypes studied [7] - The drug is well-tolerated, with the maximum tolerated dose not yet reached, and patient enrollment is ongoing at higher dose levels [7] - The company aims to complete Phase 1 dose escalation and present data in multiple myeloma and non-Hodgkin's lymphoma in the second half of 2025 [14] CFT1946 Progress - CFT1946 is in a Phase 1/2 trial, demonstrating a well-tolerated safety profile and evidence of anti-tumor activity in patients with BRAF V600 mutations [18] - The drug has shown the ability to cross the blood-brain barrier, which is significant for treating patients with brain metastases [7] - Data from melanoma and colorectal cancer trials are expected in the second half of 2025 [1][14] Financial Performance - Total revenue for Q4 2024 was $5.2 million, up from $3.3 million in Q4 2023, reflecting growth in collaboration agreements [9] - Research and development expenses for 2024 were $110.6 million, a decrease from $117.7 million in 2023, primarily due to restructuring [10] - The net loss for the full year 2024 was $105.3 million, an improvement from $132.5 million in 2023, with net loss per share decreasing from $2.67 to $1.52 [12] Upcoming Milestones - The company plans to initiate the next phase of clinical development for cemsidomide and CFT1946 in early 2026 [14] - Key presentations and investor events are scheduled for March 2025, including participation in the TD Cowen Annual Healthcare Conference [14]

Core Viewpoint - C4 Therapeutics, Inc. (CCCC) has experienced a significant decline of 23.1% over the past four weeks, but it is now in oversold territory, suggesting a potential turnaround as analysts expect better earnings than previously predicted [1][5][6]. Group 1: Stock Performance and Indicators - The stock has faced excessive selling pressure, leading to a decline of 23.1% in the last month [1]. - CCCC's Relative Strength Index (RSI) is currently at 21.84, indicating that the heavy selling may be exhausting itself, which could lead to a price rebound [5]. - A stock is generally considered oversold when its RSI falls below 30, and CCCC's current RSI suggests it is approaching this threshold [2][3]. Group 2: Earnings Estimates and Analyst Consensus - Over the past 30 days, the consensus EPS estimate for CCCC has increased by 0.3%, indicating a positive trend in earnings revisions [6]. - There is strong agreement among sell-side analysts regarding the potential for CCCC to report better earnings, which typically correlates with price appreciation [6]. - CCCC holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, further supporting the potential for a turnaround [7].

Core Insights - C4 Therapeutics, Inc. (C4T) is a clinical-stage biopharmaceutical company focused on advancing targeted protein degradation science [4] - The company will participate in two investor conferences in March 2025, indicating active engagement with the investment community [1][2][3] Conference Participation - C4T management will present at the TD Cowen 45th Annual Healthcare Conference on March 3rd at 9:10 am ET in Boston, MA, with a live webcast available [2] - The company will also participate in the Leerink Partners Global Healthcare Conference on March 9th in Miami, FL [3] Company Overview - C4T is dedicated to creating a new generation of medicines through targeted protein degradation, aiming to transform patient outcomes [4] - The company utilizes its TORPEDO® platform to design and optimize small-molecule medicines for difficult-to-treat diseases [4] - C4T's degrader medicines aim to leverage the body's natural protein recycling system to degrade disease-causing proteins, potentially overcoming drug resistance and addressing undruggable targets [4]

Core Insights - C4 Therapeutics is advancing its clinical programs, particularly focusing on cemsidomide, CFT1946, and CFT8919, with significant milestones anticipated in 2025 [2][3][4] Cemsidomide - Cemsidomide is an oral degrader targeting IKZF1/3 for treating relapsed/refractory multiple myeloma and non-Hodgkin's lymphoma, with data presented at the ASH Annual Meeting indicating a 36% overall response rate (ORR) at a dose of 75 µg once daily [4][13] - The company plans to initiate the next phase of clinical development for cemsidomide in combination with dexamethasone and other agents in early 2026 [6] CFT1946 - CFT1946 is an oral degrader targeting BRAF V600 mutations for solid tumors, with ongoing Phase 1/2 studies showing initial signs of anti-tumor activity [5][9] - Data from the Phase 1 dose escalation study is expected to be presented in the second half of 2025, including results from various cohorts [6][13] CFT8919 - CFT8919 targets EGFR with the L858R mutation for non-small cell lung cancer, with a Phase 1 trial ongoing in Greater China led by Betta Pharmaceuticals [7][10] - The data from this trial will inform future development plans for CFT8919 [6][7] Financial Outlook - C4 Therapeutics expects its cash reserves to fund operations into 2027, supported by anticipated collaboration reimbursements [14] Corporate Developments - The company has strengthened its leadership team and Board of Directors to support its evolution into a fully integrated biotechnology company [11][21]

Core Insights - C4 Therapeutics, Inc. (C4T) is a clinical-stage biopharmaceutical company focused on advancing targeted protein degradation science [1][3] - The company will present at the 43rd Annual J.P. Morgan Healthcare Conference on January 15, 2025 [1] - C4T utilizes its TORPEDO platform to design small-molecule medicines that target disease-causing proteins, aiming to improve patient outcomes and address drug resistance [3] Company Overview - C4 Therapeutics is dedicated to creating a new generation of medicines that transform patients' lives through targeted protein degradation [3] - The company is advancing multiple targeted oncology programs and expanding its research platform for difficult-to-treat diseases [3] - C4T's approach leverages the body's natural protein recycling system to rapidly degrade harmful proteins [3]

Core Insights - C4 Therapeutics, Inc. has appointed Steve Hoerter to its Board of Directors, emphasizing the company's commitment to enhancing its leadership as it advances its pipeline of targeted protein degraders [1][2] - Hoerter brings over three decades of experience in oncology commercialization, having previously led Deciphera Pharmaceuticals to a successful acquisition by ONO Pharmaceutical for $2.4 billion [2] - The company aims to leverage Hoerter's expertise to guide its transition into a fully integrated biotechnology firm focused on innovative small molecule degraders [2][3] Company Overview - C4 Therapeutics is a clinical-stage biopharmaceutical company dedicated to advancing targeted protein degradation science, with a focus on creating new medicines that can transform patient lives [4] - The company utilizes its TORPEDO® platform to design and optimize small-molecule medicines aimed at addressing difficult-to-treat diseases, particularly in oncology [4] - C4T's degrader medicines are designed to exploit the body's natural protein recycling system, potentially overcoming drug resistance and improving patient outcomes [4]

Group 1 - C4 Therapeutics reported a quarterly loss of $0.35 per share, better than the Zacks Consensus Estimate of a loss of $0.40, and an improvement from a loss of $0.55 per share a year ago, resulting in an earnings surprise of 12.50% [1] - The company posted revenues of $15.36 million for the quarter ended September 2024, exceeding the Zacks Consensus Estimate by 158.10%, compared to revenues of $11.07 million in the same quarter last year [2] - C4 Therapeutics has surpassed consensus EPS estimates two times over the last four quarters, indicating a positive trend in performance [2] Group 2 - The stock has underperformed the market, losing about 2.1% since the beginning of the year, while the S&P 500 has gained 21.9% [3] - The company's earnings outlook will be crucial for future stock performance, with current consensus EPS estimates for the coming quarter at -$0.43 on revenues of $7.33 million, and for the current fiscal year at -$1.57 on revenues of $25.66 million [4][7] - The Medical - Biomedical and Genetics industry, to which C4 Therapeutics belongs, is currently ranked in the top 32% of over 250 Zacks industries, suggesting a favorable industry outlook [8]

Revenue and Collaboration Agreements - Total revenue from collaboration agreements for the three months ended September 30, 2024, was $15.362 million, an increase from $11.072 million in the same period of 2023, primarily driven by an $8 million milestone from the Biogen Agreement[86]. - The total revenue from collaboration agreements for the nine months ended September 30, 2024, was $30.407 million, compared to $17.495 million in the same period of 2023, driven by new collaboration activities[86]. Research and Development Expenses - Research and development expenses for the three months ended September 30, 2024, totaled $31.838 million, compared to $28.347 million in the same period of 2023, reflecting a $3.5 million increase[89]. - The company expects research and development expenses to continue to increase substantially in connection with planned preclinical and clinical development activities[82]. - The company anticipates significant future expenses as it advances its preclinical programs and product candidates through clinical development[96]. Clinical Development - Cemsidomide (CFT7455) is currently in clinical development for multiple myeloma and non-Hodgkin lymphomas, with positive clinical data presented in December 2023[79]. - CFT1946, designed for BRAF V600X mutant targets, is in a Phase 1/2 clinical trial, with initial data presented in September 2024 showing proof of mechanism[79]. - The company has entered into an exclusive licensing agreement for CFT8919 in Greater China, with plans to initiate clinical trial activities outside Greater China following the completion of Betta Pharma's Phase 1 trial[79]. Financial Performance - The company reported a net loss of $70.7 million for the nine months ended September 30, 2024, compared to a net cash used in operating activities of $82.8 million for the same period in 2023[94]. - The company expects to incur substantial operating losses for the foreseeable future, with no approved products or revenue from product sales to date[96]. Cash and Securities - As of September 30, 2024, the company had cash, cash equivalents, and marketable securities totaling approximately $284.4 million[92]. - As of September 30, 2024, the company had marketable securities of $224.8 million, with a weighted-average maturity of 0.6 years[102]. Other Income and Expenses - General and administrative expenses for the three months ended September 30, 2024, were $11.768 million, up from $10.533 million in the same period of 2023, primarily due to increased personnel expenses[90]. - A $2.4 million increase in restructuring expenses was noted for the nine months ended September 30, 2024, compared to the same period in 2023, due to a restructuring plan implemented in January 2024[91]. - Other income increased by $1.8 million to $3.6 million for the three months ended September 30, 2024, driven by a $1.0 million increase in interest and other income[92]. Financing Activities - The company raised $45.2 million from financing activities during the nine months ended September 30, 2024, mainly from the Betta Stock Purchase Agreement and its at-the-market equity program[95]. - The company has sold 15,318,264 shares under the at-the-market equity program, resulting in net proceeds of $82.3 million at an average price of $5.54 per share[98]. Risk Factors - The company is exposed to interest rate risks, but historical fluctuations in interest income have not been significant[102].

Financial Performance - Total revenue for Q3 2024 was $15.4 million, up from $11.1 million in Q3 2023, driven by an $8.0 million milestone from Biogen and $2.9 million from a license agreement with Betta[15] - Revenue from collaboration agreements for Q3 2024 was $15,362,000, up 39.5% from $11,072,000 in Q3 2023[26] - Total operating expenses increased to $43,606,000 in Q3 2024, compared to $38,880,000 in Q3 2023, reflecting a 17.5% rise[26] - Net loss for Q3 2024 was $24.7 million, an improvement from a net loss of $27.0 million in Q3 2023, with net loss per share decreasing to $0.35 from $0.55[18] - Net loss for Q3 2024 was $24,666,000, a decrease from a net loss of $27,037,000 in Q3 2023, representing a 5.4% improvement[26] - Net loss per share for Q3 2024 was $(0.35), compared to $(0.55) in Q3 2023, indicating a 36.4% improvement[26] - Total other income for Q3 2024 was $3,578,000, up from $1,774,000 in Q3 2023, marking a 101.5% increase[26] - Loss from operations for the nine months ended September 30, 2024, was $(81,905,000), an improvement from $(101,604,000) for the same period in 2023[26] - Interest and other income for the nine months ended September 30, 2024, was $11,162,000, compared to $6,862,000 in the same period of 2023, a 62.5% increase[26] Expenses - R&D expenses increased to $31.8 million in Q3 2024 from $28.3 million in Q3 2023, primarily due to higher clinical trial costs for cemsidomide and CFT1946[16] - General and administrative expenses were $11,768,000 in Q3 2024, up from $10,533,000 in Q3 2023, reflecting a 11.7% increase[26] - G&A expenses rose to $11.8 million in Q3 2024 compared to $10.5 million in Q3 2023, mainly due to increased personnel costs related to stock-based compensation[17] Clinical Trials and Development - Cemsidomide Phase 1/2 trial continues to progress, with dose escalation ongoing and data to be presented at the ASH Annual Meeting in December 2024[4] - Initial clinical data for CFT1946 showed a well-tolerated safety profile and early evidence of anti-tumor activity, with multiple data readouts expected in 2025[2] - CFT1946 is currently in a Phase 1 dose escalation study targeting BRAF V600 mutations in solid tumors, with ongoing patient enrollment across multiple trial arms[7] Corporate Developments - C4 Therapeutics delivered a second development candidate to Biogen, earning an $8 million milestone payment, marking the final candidate under this collaboration[9] - The company appointed Paige Mahaney, Ph.D., as Chief Scientific Officer, bringing over 25 years of experience in pharmaceutical and biotech sectors[10] Shareholder Information - Weighted-average shares outstanding increased to 69,627,190 in Q3 2024 from 49,212,126 in Q3 2023, a rise of 41.5%[26]

Company Leadership Changes - Paige Mahaney, PhD, appointed as Chief Scientific Officer (CSO) of C4 Therapeutics, effective October 28, 2024, bringing over 25 years of pharmaceutical and biotech experience [1] - Stewart (Stew) Fisher, PhD, current CSO, will retire and serve as senior scientific advisor until December 31, 2024, and as a consultant through the end of 2025 [1] Paige Mahaney's Background - Over 25 years of experience in pharmaceutical executive leadership, with expertise in discovery research, development, and building clinical portfolios across various disease indications and treatment modalities [2] - Previously served as Senior Vice President and Corporate Head of Drug Discovery at Exelixis, Inc, where she advanced multiple candidates toward investigational new drug applications and clinical trials, including USP-1 inhibitor XL309 and PKMYT1 inhibitor XL495 [2] - Spent over 10 years at Boehringer Ingelheim Pharmaceuticals, Inc, focusing on pipeline expansion and discovery, contributing to the advancement of several investigational assets in oncology, immunology, cardiometabolic, inflammation, respiratory, and orphan diseases [2] Stewart Fisher's Contributions - Joined C4 Therapeutics in 2016 and served as CSO since 2018, supporting the development of the TORPEDO® platform and leading the creation of a library of over 10,000 Cereblon ligands from over 200 unique scaffolds [3] - Spearheaded the identification, characterization, and optimization of novel, selective, orally bioavailable BiDAC™ and MonoDAC™ degraders, resulting in six development candidates delivered to the clinical pipeline [3] - Advanced three novel degraders into clinical trials and partnered with global pharmaceutical companies to extend the reach of targeted protein degradation [4] C4 Therapeutics Overview - Clinical-stage biopharmaceutical company focused on advancing targeted protein degradation science to create transformative medicines [6] - Progressing targeted oncology programs through clinical studies and leveraging the TORPEDO® platform to design and optimize small-molecule medicines for difficult-to-treat diseases [6] - Degrader medicines designed to harness the body's natural protein recycling system to rapidly degrade disease-causing proteins, potentially overcoming drug resistance and undruggable targets [6]