On May 8, 2024, C4 Therapeutics, Inc. reported its financial results for the first quarter ending March 31, 2024, and provided business highlights. The company announced a successful delivery of a development candidate to Biogen, resulting in an $8 million payment, and established a strategic discovery research collaboration with Merck KGaA, Darmstadt, Germany, focusing on two critical oncogenic proteins. C4 Therapeutics is advancing Phase 1 dose escalation trials for its drug candidates cemsidomide (CFT7455) and CFT1946, with data expected in the second half of 2024. The company's cash reserves totaled $299.2 million as of March 31, 2024, which is expected to fund operations into 2027. The quarter saw a decrease in revenue to $3.0 million from $3.8 million in the same period the previous year, primarily due to the conclusion of research terms with Biogen and...Show More

On May 8, 2024, C4 Therapeutics, Inc. reported its financial results for the first quarter ending March 31, 2024, and provided business highlights. The company announced a successful delivery of a development candidate to Biogen, resulting in an $8 million payment, and established a strategic discovery research collaboration with Merck KGaA, Darmstadt, Germany, focusing on two critical oncogenic proteins. C4 Therapeutics is advancing Phase 1 dose escalation trials for its drug candidates cemsidomide (CFT7455) and CFT1946, with data expected in the second half of 2024. The company's cash reserves totaled $299.2 million as of March 31, 2024, which is expected to fund operations into 2027. The quarter saw a decrease in revenue to $3.0 million from $3.8 million in the same period the previous year, primarily due to the conclusion of research terms with Biogen and Calico in 2023. R&D expenses decreased to $22.5 million, net of a one-time restructuring charge, compared to $29.0 million in the first quarter of 2023. General and Administrative expenses also saw a slight decrease. The net loss for the quarter was $28.4 million, an improvement from the $34.8 million loss in the first quarter of 2023. C4 Therapeutics is focused on advancing targeted protein degradation science to create new medicines, with ongoing clinical trials for its drug candidates targeting multiple myeloma, non-Hodgkin’s lymphoma, and solid tumors with BRAF V600X mutations.