CytomX(US:CTMX)2025-05-12 10:25Financial Performance - Total revenue for Q1 2025 was $50.9 million, a 22% increase from $41.5 million in Q1 2024[7] - Net income for Q1 2025 was $23.5 million, compared to $13.8 million in Q1 2024, representing a 70% increase[16] - Total operating expenses decreased to $28.3 million in Q1 2025 from $29.8 million in Q1 2024, a reduction of 5%[8] - Research and development expenses were $18.9 million for Q1 2025, down 17% from $22.1 million in Q1 2024[9] Cash and Investments - Cash, cash equivalents, and investments totaled $79.9 million as of March 31, 2025, down from $100.6 million as of December 31, 2024[6] - The company’s cash runway has been extended into the second quarter of 2026 due to focused clinical development priorities and cost reductions[10] Clinical Development - CX-2051 Phase 1 dose expansions initiated at 7.2 mg/kg, 8.6 mg/kg, and 10 mg/kg doses, with additional data expected by Q1 2026[4] - Planning to initiate a Phase 2 study for CX-2051 in advanced colorectal cancer in the first half of 2026[3] - CX-801 Phase 1a translational data in advanced melanoma expected in the second half of 2025[4] Collaborations and Milestones - Astellas collaboration achieved a milestone payment of $5.0 million in February 2025[10]