CytomX Therapeutics Announces Pricing of $250 Million Offering of Common Stock and Pre-Funded Warrants

Core Viewpoint - CytomX Therapeutics, Inc. has announced a public offering of 45,990,567 shares of common stock priced at $5.30 per share, aiming to raise approximately $250 million in gross proceeds for the development of its pipeline programs, including Varseta-M [1][2]. Group 1: Offering Details - The offering includes pre-funded warrants for certain investors to purchase an additional 1,179,245 shares of common stock [1]. - Underwriters have a 30-day option to purchase up to an additional 7,075,471 shares at the public offering price [1]. - The closing of the offering is expected on March 19, 2026, subject to customary closing conditions [1]. Group 2: Use of Proceeds - Net proceeds from the offering will be used for the continued development of Varseta-M and other pipeline programs [2]. - Remaining net proceeds will be allocated for capital expenditures, working capital, and general corporate purposes [2]. Group 3: Company Overview - CytomX is a clinical-stage biopharmaceutical company focused on developing conditionally activated, masked PROBODY® therapeutics for cancer treatment [5]. - The company's pipeline includes Varseta-M, an antibody-drug conjugate targeting EpCAM, and CX-801, a masked interferon alpha-2b PROBODY® cytokine [5]. - Varseta-M is being developed for metastatic colorectal cancer, while CX-801 targets metastatic melanoma [5]. - CytomX has established collaborations with major oncology leaders such as Amgen, Bristol Myers Squibb, Regeneron, and Moderna [5].