C4 Therapeutics Inc. (NASDAQ:CCCC) is one of the best biotech penny stocks to buy according to analysts. On December 17, Barclays lowered the firm’s price target on C4 Therapeutics to $5 from $10, while maintaining an Overweight rating on the shares. The firm updated its biotechnology price targets as part of its 2026 sector outlook. On December 2, TD Cowen initiated coverage of C4 Therapeutics with a Buy rating but set no price target on the company’s shares. The firm highlighted that the company distin ...

Core Insights - C4 Therapeutics, Inc. successfully raised $125 million in gross proceeds through an equity offering, extending its financial runway to the end of 2028, which is crucial for advancing its clinical programs, particularly for cemsidomide [1][2][6] - Cemsidomide has shown promising Phase 1 data in multiple myeloma, achieving a 53% overall response rate at the highest dose level, indicating a potential best-in-class profile [1][3][15] - The company is on track to initiate the next phases of cemsidomide development, including a Phase 2 MOMENTUM trial in combination with dexamethasone in Q1 2026 and a Phase 1b trial in combination with elranatamab in Q2 2026 [1][2][12] Financial Performance - Total revenue for Q3 2025 was $11.2 million, a decrease from $15.4 million in Q3 2024, primarily due to the absence of an $8 million milestone recognized in the previous year [8] - Research and Development (R&D) expenses for Q3 2025 were $26 million, down from $31.8 million in Q3 2024, attributed to reduced clinical trial expenses [9] - General and Administrative (G&A) expenses for Q3 2025 were $8.9 million, compared to $11.8 million in Q3 2024, mainly due to lower stock-based compensation [10] - The net loss for Q3 2025 was $32.2 million, compared to $24.7 million in Q3 2024, with a net loss per share of $0.44 [10][23] Clinical Development - C4 Therapeutics presented Phase 1 data showing cemsidomide's potential best-in-class profile in heavily pre-treated multiple myeloma patients, with a median duration of response of 9.3 months [3][15] - The company has entered into a collaboration with Pfizer to evaluate cemsidomide in combination with elranatamab, with C4T sponsoring the Phase 1b trial [3][4] - The upcoming Phase 2 MOMENTUM trial will evaluate cemsidomide in combination with dexamethasone in patients with relapsed/refractory multiple myeloma, aiming to enroll approximately 100 patients [14][15] Cash Position and Future Outlook - As of September 30, 2025, the company had cash, cash equivalents, and marketable securities totaling $199.8 million, down from $267.3 million at the end of 2024, but bolstered by the recent equity offering [13][21] - The company expects its current financial resources to support its operating plan through the end of 2028, allowing for continued development of its clinical programs [13][6]

Core Insights - C4 Therapeutics has entered into a clinical trial collaboration and supply agreement with Pfizer to advance its research in targeted protein degradation for multiple myeloma treatment [1][2] Company Overview - C4 Therapeutics is a clinical-stage biopharmaceutical company focused on targeted protein degradation science, aiming to create innovative medicines that improve patient outcomes [4] - The company utilizes its TORPEDO platform to design and optimize small-molecule medicines for challenging diseases, with a focus on oncology [4] Clinical Trial Details - The upcoming Phase 1b trial will assess the safety and tolerability of cemsidomide, an IKZF1/3 degrader, in combination with elranatamab for patients with relapsed/refractory multiple myeloma [2][5] - The trial is expected to start in Q2 2026 and aims to establish an optimal dose for cemsidomide when combined with elranatamab [2] - Pfizer will supply elranatamab at no cost, while C4 Therapeutics will sponsor and conduct the trial [2] Product Information - Cemsidomide is an investigational small-molecule degrader that has shown promising safety and tolerability, as well as strong anti-myeloma activity in previous trials [5] - Two additional clinical trials for cemsidomide are planned: a Phase 2 trial in combination with dexamethasone expected to start in Q1 2026, and the aforementioned Phase 1b trial [5] Market Potential - The collaboration with Pfizer positions cemsidomide to potentially enhance treatment regimens for multiple myeloma, aiming to improve patient outcomes in earlier lines of therapy [3] - Elranatamab is on track to become a standard of care BCMAxCD3 bispecific antibody in a growing market for multiple myeloma treatments [3]