WATERTOWN, Mass., April 29, 2024 (GLOBE NEWSWIRE) -- C4 Therapeutics, Inc. (C4T) (NASDAQ:CCCC), a clinical-stage biopharmaceutical company dedicated to advancing targeted protein degradation science, today announced that the independent directors serving on the Organization, Leadership and Compensation Committee of the Company's Board of Directors approved the grant of non-qualified stock options to purchase 146,880 shares of the Company's common stock to one new employee (the "Inducement Grant"), with the ...

WATERTOWN, Mass., April 09, 2024 (GLOBE NEWSWIRE) -- C4 Therapeutics, Inc. (C4T) (NASDAQ:CCCC), a clinical-stage biopharmaceutical company dedicated to advancing targeted protein degradation science, today announced that C4T management will participate in a fireside chat at the Stifel 2024 Targeted Oncology Forum taking place virtually from April 16 – April 17, 2024. Fireside Chat Details:Event: Stifel 2024 Targeted Oncology ForumDate/Time: Tuesday, April 16, 2024 from 10:30 am ET – 10:55 am ET A live webca ...

Collaboration Focused on Two Targeted Protein Degraders from C4T's Internal Discovery Pipeline C4T to Receive a $16 Million Upfront Payment; Merck KGaA, Darmstadt, Germany, to Cover Discovery Research Costs Under the Collaboration C4T Eligible for up to Approximately $740 Million in Discovery, Development and Commercial Milestone Payments, in Addition to Future Royalties, Across Entire Collaboration WATERTOWN, Mass., March 04, 2024 (GLOBE NEWSWIRE) -- C4 Therapeutics, Inc. (C4T) (NASDAQ:CCCC), a clinical-st ...

C4 Therapeutics, Inc. (CCCC) came out with a quarterly loss of $0.68 per share versus the Zacks Consensus Estimate of a loss of $0.67. This compares to loss of $0.76 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -1.49%. A quarter ago, it was expected that this company would post a loss of $0.65 per share when it actually produced a loss of $0.55, delivering a surprise of 15.38%.Over the last four quarters, the company has su ...

Multiple Myeloma Peripheral T-cell Lymphomas Mantle Cell Lymphoma CFT1946: Degrading BRAF V600X to Treat Melanoma, Colorectal, and Non-small Cell Lung Cancers 8 remains a high unmet need for those who relapse after, or do not respond to, approved BRAF inhibitors. We are evaluating CFT1946 in a variety of BRAF V600X solid tumors, including melanoma, CRC, and NSCLC, where current standard of care BRAF inhibitor for these specific indications are dabrafenib with trametinib for melanoma in the first-line settin ...

• In January 2024, the previously announced $25 million stock purchase by a subsidiary of partner Betta Pharmaceuticals was completed. • In November 2023, C4T appointed Owen Hughes to its board of directors. Mr. Hughes is an accomplished life sciences executive with nearly three decades of experience in investing, operations and corporate governance. CFT7455: • Complete Phase 1 dose exploration in R/R MM and R/R NHL by year-end 2024. • March 4, 2024: Management will present at TD Cowen's 44th Annual Health ...

When C4 Therapeutics, Inc. (CCCC) reports fourth-quarter and full-year 2023 results, investors will primarily focus on pipeline updates.The company has a decent track record of beating on earnings in three of the trailing four quarters and missing in one, delivering an average surprise of 5.04%. In the last reported quarter, it delivered an earnings surprise of 15.38%.Factors to NoteC4 Therapeutics is a clinical-stage biopharmaceutical company, advancing targeted protein degradation science to develop a new ...

Wall Street expects a year-over-year increase in earnings on higher revenues when C4 Therapeutics, Inc. (CCCC) reports results for the quarter ended December 2023. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss ...

Table of Contents Table of Contents NOTE REGARDING COMPANY REFERENCES Table of Contents Table of Contents C4 Therapeutics, Inc. See accompanying notes to unaudited condensed consolidated financial statements. Table of Contents | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------------------------------------------------------------------------------|--------------------------------|----------------------|-------|-------|----------------------------------------|-------------- ...

Financial Performance - For the six months ended June 30, 2023, the company reported a net loss of $70.7 million, compared to a net loss of $59.0 million for the same period in 2022[41]. - The company reported a comprehensive loss of $35.2 million for the quarter, compared to a comprehensive loss of $28.3 million in the previous quarter[30]. - The company reported a net loss of $35.922 million for the three months ended June 30, 2023, compared to a net loss of $27.412 million for the same period in 2022, reflecting an increase in losses of approximately 31.5%[124]. - The net cash used in operating activities was $52.1 million for the six months ended June 30, 2023, compared to $48.8 million for the same period in 2022[35]. - The company expects to continue incurring operating losses for the foreseeable future[41]. Cash and Securities - Cash, cash equivalents, and marketable securities totaled $286.7 million as of June 30, 2023, expected to fund operations for at least the next twelve months[41]. - The company reported cash equivalents and marketable securities totaling $286.450 million as of June 30, 2023, compared to $39.009 million at the end of 2022[46]. - The company’s total marketable securities, current and non-current, were valued at $241.819 million as of June 30, 2023[74]. - Total marketable securities as of June 30, 2023, amounted to $307.361 million, with gross unrealized losses of $4.141 million[104]. Research and Development - The company is focused on advancing its TORPEDO platform for developing small-molecule medicines targeting protein degradation[40]. - Research and development expenses for the first half of 2023 were $58.968 million, slightly up from $57.526 million in the same period of 2022[57]. - The company expects research and development expenses to continue to increase substantially in connection with planned preclinical and clinical development activities[103]. - The company has commenced clinical trials for three advanced product candidates: CFT7455, CFT8634, and CFT1946, initiated in June 2021, May 2022, and December 2022, respectively[215]. Collaboration Agreements - The company has a collaboration agreement with Roche, which includes potential milestone payments ranging from $260 million to $275 million for product development achievements[78]. - The Company entered into a collaboration and license agreement with Betta Pharma, receiving an upfront cash payment of $10.0 million and potential milestone payments of up to $357.0 million[81]. - Revenue from collaboration agreements for Q2 2023 was $2.664 million, a decrease of 80.7% compared to $13.834 million in Q2 2022[57]. - Revenue from the Biogen Agreement was $2.504 million for the three months ended June 30, 2023, down from $9.534 million in the same period of 2022, indicating a decline of about 73.8%[117]. Risks and Challenges - The company is subject to risks typical of early-stage life science companies, including the uncertainty of raising additional financing and the market acceptance of products[68]. - The company acknowledges the high risk of failure in product development, particularly for early-stage candidates[209]. - The company may need substantial additional funding to continue operations and pursue business objectives[203]. - The company faces significant risks in clinical development, including potential harmful side effects and market acceptance issues, which could hinder revenue generation[217]. Intellectual Property - Patent protection is crucial for competitive positioning; failure to secure patents could impair commercialization efforts[229]. - The company may become involved in expensive and time-consuming lawsuits to protect its intellectual property, which could adversely affect its financial condition[263]. - The company may need to license intellectual property from third parties, which may not be available on commercially reasonable terms, potentially adversely affecting its business and financial condition[265]. - The company filed a petition with the USPTO on May 1, 2023, seeking a post-grant review of U.S. patent number 11,414,416, which relates to compounds for the treatment of BRD9-related disorders[266]. Regulatory Environment - The FDA's approval process for product candidates is lengthy and unpredictable, potentially harming the company's business if marketing approval is not obtained[272]. - The company plans to seek Orphan Drug Designations for its product candidates, which could provide exclusivity but may not guarantee marketing rights if broader indications are pursued[278]. - The company must comply with extensive regulatory requirements for marketing, labeling, and promotion, with potential penalties for non-compliance[275]. - The company may face claims from third parties regarding intellectual property misappropriation, which could lead to litigation and loss of valuable rights[269]. Market and Commercialization - The market acceptance of the company's product candidates will depend on factors such as efficacy, side effects, pricing, and insurance coverage[224]. - The company may need to establish strategic partnerships to enhance its product development efforts, but faces competition and complexity in negotiations[223]. - The company’s ability to commercialize products may be affected by unfavorable pricing regulations and reimbursement practices in various countries[257]. - The successful commercialization of product candidates depends on third-party payors providing coverage and adequate reimbursement levels[281]. Financial Strategy - The company may raise additional capital in the future through the sale of shares or convertible securities, which could lead to stockholder dilution[293]. - There is uncertainty regarding the sustainability of an active trading market for the company's common stock, which may affect liquidity[293]. - The trading price of the company's common stock may be influenced by the research and reports published by industry or securities analysts[293]. - The company has broad discretion in the use of the capital raised, which may not be utilized effectively[295].