C4 Therapeutics Reports Fourth Quarter and Full Year 2024 Financial Results and Recent Business Highlights

Core Insights - C4 Therapeutics, Inc. is advancing its clinical development programs, particularly focusing on cemsidomide for multiple myeloma and non-Hodgkin's lymphoma, with trials expected to start in early 2026 [1][2] - The company reported a significant increase in total revenue for 2024, reaching $35.6 million, compared to$ 20.8 million in 2023, driven by new collaborations [9] - C4 Therapeutics has a strong cash position of $267.3 million as of December 31, 2024, which is expected to fund operations into 2027 [13][15] Cemsidomide Development - Cemsidomide is showing promising results in ongoing trials, with an overall response rate (ORR) of 36% in combination with dexamethasone and 38% in monotherapy across all subtypes studied [7] - The drug is well-tolerated, with the maximum tolerated dose not yet reached, and patient enrollment is ongoing at higher dose levels [7] - The company aims to complete Phase 1 dose escalation and present data in multiple myeloma and non-Hodgkin's lymphoma in the second half of 2025 [14] CFT1946 Progress - CFT1946 is in a Phase 1/2 trial, demonstrating a well-tolerated safety profile and evidence of anti-tumor activity in patients with BRAF V600 mutations [18] - The drug has shown the ability to cross the blood-brain barrier, which is significant for treating patients with brain metastases [7] - Data from melanoma and colorectal cancer trials are expected in the second half of 2025 [1][14] Financial Performance - Total revenue for Q4 2024 was$ 5.2 million, up from $3.3 million in Q4 2023, reflecting growth in collaboration agreements [9] - Research and development expenses for 2024 were$ 110.6 million, a decrease from $117.7 million in 2023, primarily due to restructuring [10] - The net loss for the full year 2024 was$ 105.3 million, an improvement from $132.5 million in 2023, with net loss per share decreasing from$ 2.67 to $1.52 [12] Upcoming Milestones - The company plans to initiate the next phase of clinical development for cemsidomide and CFT1946 in early 2026 [14] - Key presentations and investor events are scheduled for March 2025, including participation in the TD Cowen Annual Healthcare Conference [14]