Core Insights - CytomX Therapeutics announced positive interim data from the ongoing Phase 1 study of CX-2051, an EpCAM Antibody Drug Conjugate, in patients with advanced colorectal cancer (CRC) [1][6] - The company completed a $100 million underwritten offering of common stock, with net proceeds of $93.4 million, enhancing its financial position to support ongoing and future clinical trials [6][8] - The anticipated data update for CX-2051 is expected in Q1 2026, with a Phase 2 study initiation planned for the first half of 2026 [1][3] Pipeline Program Updates - CX-2051 is currently undergoing dose expansions at 7.2 mg/kg, 8.6 mg/kg, and 10 mg/kg doses, administered every three weeks, with approximately 70 patients involved in the Phase 1 study [6] - CX-801, a masked interferon alpha-2b, is in Phase 1 dose escalation, with preliminary data expected in Q4 2025 [6] - Combination studies for CX-2051 in earlier lines of CRC therapy are being planned for 2026 [6] Financial Performance - Total revenue for Q2 2025 was $18.7 million, a decrease from $25.1 million in Q2 2024, primarily due to the completion of performance obligations in collaborations and reduced activities with Moderna [8][10] - Total operating expenses decreased to $19.9 million in Q2 2025 from $33.6 million in Q2 2024, reflecting a reduction in research and development expenses [9][10] - The company ended Q2 2025 with $158.1 million in cash, cash equivalents, and investments, compared to $79.9 million at the end of Q1 2025, providing a cash runway until Q2 2027 [7][8] Research Collaborations - CytomX has established strategic collaborations with major oncology leaders, including Amgen, Astellas, Bristol Myers Squibb, Regeneron, and Moderna, to advance its research and development efforts [12][14]

Core Viewpoint - CytomX Therapeutics, Inc. has announced an underwritten offering of 76,923,076 shares of its common stock at a price of $1.30 per share, aiming to raise approximately $100 million in gross proceeds before expenses [1][2]. Group 1: Offering Details - The offering is expected to close on May 13, 2025, subject to customary closing conditions [1]. - The net proceeds from the offering will be utilized for research and development, general corporate purposes, and working capital needs [2]. - The offering is led by Longitude Capital, with participation from several investment firms including OrbiMed and Venrock Healthcare Capital Partners [2]. Group 2: Company Overview - CytomX is a clinical-stage biopharmaceutical company focused on developing conditionally activated biologics for cancer treatment [6]. - The company’s pipeline includes therapeutic candidates such as CX-2051, a masked ADC targeting EpCAM, and CX-801, a masked interferon alpha-2b PROBODY cytokine [6]. - CytomX has established collaborations with major oncology leaders including Amgen and Bristol Myers Squibb [6].