PART I. FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=8&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) The company reported a **$31.6 million** net loss for Q1 2022, with **$515.5 million** in total assets and **$421.7 million** in cash and equivalents Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2022 | December 31, 2021 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $46,004 | $76,124 | | Marketable securities | $375,648 | $375,355 | | Total assets | $515,485 | $506,765 | | **Liabilities & Equity** | | | | Total liabilities | $150,956 | $117,159 | | Total stockholders' equity | $364,529 | $389,606 | Condensed Consolidated Statement of Operations (in thousands) | Account | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | Revenue from collaboration agreements | $7,654 | $7,426 | | Research and development | $26,203 | $20,526 | | General and administrative | $12,820 | $7,409 | | **Net loss** | **($31,620)** | **($20,971)** | | **Net loss per share** | **($0.65)** | **($0.49)** | Condensed Consolidated Statement of Cash Flows (in thousands) | Cash Flow Activity | Three Months Ended March 31, 2022 | Three Months Ended March 31, 2021 | | :--- | :--- | :--- | | Net cash used in operating activities | ($26,596) | ($24,934) | | Net cash used in investing activities | ($4,004) | ($61,730) | | Net cash provided by (used in) financing activities | $480 | ($151) | | **Net change in cash, cash equivalents and restricted cash** | **($30,120)** | **($86,815)** | - The company is a clinical-stage biopharmaceutical firm focused on targeted protein degradation using its proprietary TORPEDO platform. It has incurred recurring losses since inception, with a net loss of **$31.6 million** for Q1 2022 and an accumulated deficit of **$299.3 million**[48](index=48&type=chunk)[49](index=49&type=chunk) - As of March 31, 2022, the company had **$421.7 million** in cash, cash equivalents, and marketable securities, which is expected to be sufficient to fund operations for at least the next twelve months from the issuance date of the financial statements[49](index=49&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Q1 2022 revenue increased to **$7.7 million**, with rising R&D and G&A expenses, and **$421.7 million** in cash expected to fund operations through 2024 - The company is advancing its pipeline, with CFT7455 in a Phase 1/2 trial for MM and NHLs, and CFT8634 expected to enter a Phase 1/2 trial in H1 2022 for synovial sarcoma. An IND for CFT1946 is planned for H2 2022[101](index=101&type=chunk) Revenue from Collaboration Agreements (in thousands) | Agreement | Q1 2022 | Q1 2021 | Change | | :--- | :--- | :--- | :--- | | Roche Agreement | $1,123 | $2,193 | ($1,070) | | Biogen Agreement | $4,716 | $1,880 | $2,836 | | Calico Agreement | $1,815 | $3,353 | ($1,538) | | **Total** | **$7,654** | **$7,426** | **$228** | - The increase in revenue was primarily driven by a **$2.8 million increase** from the Biogen Agreement due to increased effort on nominated targets. This was offset by a **$1.5 million decrease** from the Calico Agreement and a **$1.1 million decrease** from the Roche Agreement[115](index=115&type=chunk)[116](index=116&type=chunk) Research & Development Expense Breakdown (in thousands) | Category | Q1 2022 | Q1 2021 | Change | | :--- | :--- | :--- | :--- | | Personnel expenses | $10,911 | $6,934 | $3,977 | | Preclinical and development | $10,195 | $9,389 | $806 | | Clinical expenses | $809 | $218 | $591 | | **Total R&D** | **$26,203** | **$20,526** | **$5,677** | - The **$5.7 million increase** in R&D expense was primarily due to a **$4.0 million increase** in personnel-related costs, including a **$2.4 million increase** in stock-based compensation, reflecting the buildout of the clinical development team[117](index=117&type=chunk) - The **$5.4 million increase** in G&A expense was driven by a **$3.9 million increase** in personnel costs (including **$2.6 million in stock-based compensation**) and a **$1.6 million increase** in facility expenses from a new lease that commenced in January 2022[120](index=120&type=chunk) - As of March 31, 2022, the company had **$421.7 million** in cash, cash equivalents, and marketable securities, which it believes is sufficient to fund its operating plan through the end of 2024[122](index=122&type=chunk)[146](index=146&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=35&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces low interest rate risk on its **$375.6 million** short-term marketable securities portfolio, with a weighted-average maturity of **0.8 years** - The company's primary market risk is interest rate risk on its **$375.6 million portfolio of marketable securities**[135](index=135&type=chunk) - The risk is considered low as the securities are short-term, with a weighted-average maturity of **0.8 years**, and historical interest income fluctuations have not been significant[135](index=135&type=chunk) [Controls and Procedures](index=35&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2022, with no material changes in internal control over financial reporting - The Principal Executive Officer and Principal Financial Officer concluded that the company's disclosure controls and procedures were effective as of March 31, 2022[138](index=138&type=chunk) - No changes in internal control over financial reporting occurred during the quarter ended March 31, 2022, that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[139](index=139&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=37&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently involved in any material legal proceedings or claims - The company is not currently involved in any material legal proceedings[143](index=143&type=chunk) [Risk Factors](index=37&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks including a history of losses, unproven technology, reliance on lead candidates, funding needs, and external dependencies - The company is a clinical-stage biopharmaceutical company with a limited operating history, significant losses since inception (**$299.3M accumulated deficit** as of March 31, 2022), and may never achieve profitability[144](index=144&type=chunk) - The company's approach to drug discovery using its TORPEDO platform for targeted protein degradation is unproven, making it difficult to predict development time, cost, and likelihood of success[156](index=156&type=chunk) - The company relies on third parties for manufacturing and conducting clinical trials, which increases risks related to supply sufficiency, quality, cost, and adherence to regulatory standards like cGMP and GCP[180](index=180&type=chunk)[181](index=181&type=chunk) - The company faces substantial competition from other biotechnology and pharmaceutical companies developing protein degradation therapies, including Arvinas, Kymera Therapeutics, and Nurix Therapeutics, as well as large pharmaceutical firms[169](index=169&type=chunk) - The ongoing COVID-19 pandemic could continue to adversely impact business operations, including preclinical studies, clinical trials, supply chain, and access to capital[149](index=149&type=chunk) - The company's ability to use its net operating loss carryforwards (**$152.2M federal, $216.8M state** as of Dec 31, 2021) and R&D tax credits may be limited by ownership changes under Section 382 of the Code[169](index=169&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=87&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered equity sales occurred, and the **$191.2 million** net proceeds from the October 2020 IPO remain unchanged in their planned use - There has been no material change in the planned use of proceeds from the company's October 2020 IPO, which generated net proceeds of **$191.2 million**[249](index=249&type=chunk) [Other Information](index=87&type=section&id=Item%205.%20Other%20Information) No other information was disclosed under this item - No information was disclosed under this item[251](index=251&type=chunk)

© 2022 C4 Therapeutics, Inc. | Delivering on the Promise of Targeted Protein Degradation April 8, 2022 Forward-looking Statements and Intellectual Property Forward-looking Statements The following presentation contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as "anticipate," "believe," "could," "estimate," "expect," "goal," "intend," "look forward to," "may," "plan," "potential," "predict," "p ...

Financial Performance - The company reported a net loss of $83.9 million, $66.3 million, and $34.1 million for the years ended December 31, 2021, 2020, and 2019, respectively, indicating significant ongoing operating losses [13]. - The company has not generated any revenue from product sales to date and expects to continue incurring significant expenses for the foreseeable future [13]. - The company anticipates needing substantial additional funding to pursue its business objectives and continue operations [14]. Market and Competition - The company faces substantial competition, which may hinder its ability to successfully develop and commercialize its products [20]. Product Development - The company’s product candidates are primarily in preclinical development, and it has never completed a clinical trial for any of its candidates [16]. - The company’s approach to product development based on its TORPEDO platform is unproven, making it difficult to predict development timelines and costs [15]. - The company relies on third parties for the manufacture of its product candidates, which may increase risks related to timely availability and quality [21]. Collaborations - The company has entered into collaboration agreements with Roche, Biogen, and Calico for the development and commercialization of certain product candidates [19]. External Factors - The ongoing COVID-19 pandemic may adversely impact the company’s business, including its preclinical studies and clinical trials [20]. Financial Position - As of December 31, 2021, the company had marketable securities totaling $375.4 million, with a weighted-average maturity date of 0.8 years, exposing it to interest rate sensitivities [29].

| --- | --- | --- | --- | --- | --- | |---------------------------------------------------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Delivering on the Promise | | | | | | | of Targeted Protein | | | | | | | Degradation | | | | | | | 40 th Annual J.P. Morgan Healthcare Conference | | | | | | | January 10, 2022 | | | | | | Forward-looking Statements and Intellectual Property Forward-looking Statements The following presentation contains forward-looking ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission File Number: 001-39567 C4 Therapeutics, Inc. (Exact Name of Registrant as Specified in its Charter) De ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission File Number: 001-39567 C4 Therapeutics, Inc. (Exact Name of Registrant as Specified in its Charter) Delawar ...

Company Overview - C4 Therapeutics is developing targeted protein degradation medicines to transform patient care[7] - The company has a strong balance sheet with $346 million in cash as of March 31, 2021[7] - The TORPEDO platform has the potential to efficiently design highly potent degrader medicines[7] - C4 Therapeutics has three partnerships that expand platform potential, with up to $2 billion in potential milestones[7] Pipeline and Programs - The company expects 4 programs to be in the clinic by the end of 2022[7] - There are 14 additional programs in earlier pre-clinical development[7] - IKZF1/3 degrader CFT7455 is in Phase 1/2 trial, with first clinical data expected in 2022[39, 71] - BRD9 degrader CFT8634 IND submission is expected in the second half of 2021[48] - EGFR degrader CFT8919 IND submission is expected mid-2022, with potential Phase 1/2 trial initiation by the end of 2022[55] Targeted Protein Degradation - Targeted protein degradation has the potential to drug the remaining ~85% of the human proteome and overcome resistance to existing inhibitor medicines[5] - Oncology small molecule therapies generated $63 billion in global revenue in 2018 despite known limitations[5]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission File Number: 001-39567 C4 Therapeutics, Inc. (Exact Name of Registrant as Specified in its Charter) Delawa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39567 C4 Therapeutics, Inc. (Exact name of Registrant as specified in its Charter) Delaware 47-5617627 (State or other jurisdiction o ...

Corporate Presentation January 2021 Forward-looking Statements and Intellectual Property Forward-looking Statements The following presentation contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as "anticipate," "believe," "could," "estimate," "expect," "goal," "intend," "look forward to," "may," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions. These f ...