C4 Therapeutics(US:CCCC)2025-11-06 12:06Financial Performance - Total revenue for Q3 2025 was $11.2 million, a decrease from $15.4 million in Q3 2024, primarily due to an $8.0 million milestone from Biogen recognized in the previous year[9]. - Revenue from collaboration agreements decreased to $11.230 million in Q3 2025 from $15.362 million in Q3 2024, representing a decline of approximately 27.6%[24]. - Total operating expenses increased to $45.642 million in Q3 2025 compared to $43.606 million in Q3 2024, reflecting a rise of about 4.7%[24]. - Net loss for Q3 2025 was $32.2 million, compared to $24.7 million in Q3 2024, with net loss per share increasing to $0.44 from $0.35[11]. - Net loss for Q3 2025 was $32.166 million, compared to a net loss of $24.666 million in Q3 2024, indicating an increase in losses of about 30.4%[24]. - Net loss per share for Q3 2025 was $0.44, compared to $0.35 in Q3 2024, reflecting a worsening of approximately 25.7%[24]. - Total other income decreased to $2.246 million in Q3 2025 from $3.578 million in Q3 2024, a decline of about 37.2%[24]. - Weighted-average shares outstanding increased to 72,563,311 in Q3 2025 from 69,627,190 in Q3 2024, an increase of approximately 4.0%[24]. Research and Development - Research and Development (R&D) expenses for Q3 2025 were $26.0 million, down from $31.8 million in Q3 2024, mainly due to reduced clinical trial expenses for CFT1946[10]. - Research and development expenses were $25.989 million in Q3 2025, down from $31.838 million in Q3 2024, a decrease of approximately 18.5%[24]. - Cemsidomide demonstrated a 53% overall response rate at the highest dose level of 100 µg in the Phase 1 trial, supporting its potential best-in-class profile[3]. - C4 Therapeutics completed enrollment and dose escalation for the Phase 1 trial of cemsidomide in multiple myeloma, achieving a median duration of response of 9.3 months across all doses[4]. - The company plans to initiate the Phase 2 MOMENTUM trial in combination with dexamethasone in Q1 2026 and a Phase 1b trial in combination with elranatamab in Q2 2026[2][8]. - The company entered into a clinical trial collaboration with Pfizer for the combination of cemsidomide and elranatamab, with Pfizer supplying elranatamab at no cost for the upcoming trial[8]. Expenses - General and Administrative (G&A) expenses for Q3 2025 were $8.9 million, compared to $11.8 million in Q3 2024, reflecting lower stock-based compensation expenses[11]. - General and administrative expenses decreased to $8.920 million in Q3 2025 from $11.768 million in Q3 2024, a reduction of about 24.3%[24]. - Loss from operations increased to $34.412 million in Q3 2025 from $28.244 million in Q3 2024, an increase of approximately 22.0%[24]. - Impairment of long-lived assets recorded in Q3 2025 was $10.733 million, with no impairment reported in Q3 2024[24]. Cash Position - Cash, cash equivalents, and marketable securities as of September 30, 2025, were $199.8 million, down from $267.3 million as of December 31, 2024[12].