C4 Therapeutics(US:CCCC)2023-05-03 16:00Financial Performance - Net cash used in operating activities for the three months ended March 31, 2023, was $(33,125) thousand, compared to $(26,596) thousand for the same period in 2022, indicating an increase in cash outflow [87] - Total net change in cash, cash equivalents, and restricted cash for the three months ended March 31, 2023, was $19,722 thousand, a significant improvement from $(30,120) thousand in the prior year [87] Marketable Securities - As of March 31, 2023, the company had marketable securities totaling $255.6 million, consisting of corporate debt securities, U.S. government debt securities, and U.S. Treasury securities [208] - The weighted-average maturity date of the company's marketable securities is 0.6 years, indicating a short-term investment strategy [208] Research and Development - The company is currently engaged in research and development programs, with ongoing clinical trials and preclinical studies, although specific timelines and results were not disclosed [86] - Future agreements with third parties for the manufacturing, development, and commercialization of product candidates are anticipated, contingent on regulatory approvals [86] - The company is focused on expanding its product candidates to address additional disease indications, although specific candidates were not mentioned [86] - The company is actively working on its TORPEDO technology platform, which is aimed at optimizing protein degradation [86] Risks and Challenges - The company faces risks related to the ongoing COVID-19 pandemic, which may impact its business operations and clinical trials [86] - The company acknowledges potential pricing and reimbursement challenges for its product candidates if they receive regulatory approval, particularly under the Inflation Reduction Act of 2022 [86]