C4 Therapeutics(US:CCCC)2021-11-10 21:27Financial Performance - The net loss for the nine months ended September 30, 2021, was $68.2 million, compared to $44.5 million for the same period in 2020, indicating a significant increase in losses [9]. - The company expects to continue incurring significant expenses and increasing operating losses for at least the next several years, with no revenue generated from product sales to date [9]. - The company anticipates needing substantial additional funding to pursue its business objectives and continue operations [10]. Marketable Securities - As of September 30, 2021, the company had marketable securities totaling $317.5 million, consisting of corporate debt securities, U.S. government debt securities, and U.S. Treasury securities [147]. - The company’s marketable securities have a weighted-average maturity date of 1.1 years, exposing it to interest rate risk [147]. Product Development Risks - The company relies on third parties for the manufacture of its product candidates, which may increase the risk of not having sufficient quantities in a timely manner [17]. - The company’s approach to product development based on the TORPEDO platform is unproven, making it difficult to predict development timelines and costs [11]. - The company has not completed a clinical trial for any of its product candidates, which could hinder its ability to advance to clinical development and commercialization [12]. Collaborations - The company has entered into collaboration agreements with Roche, Biogen, and Calico, which are critical for the development and commercialization of its product candidates [15]. External Risks - The ongoing COVID-19 pandemic continues to pose risks to the company’s business, including potential impacts on clinical trials and supply chains [16].