Thu, Mar 6, 9:05 PM (52 days ago)
CytomX Therapeutics, Inc. (CTMX) is a clinical-stage biopharmaceutical company focused on developing novel oncology therapeutics using its proprietary PROBODY platform. For the fiscal year ending December 31, 2024, CytomX reported research and development expenses of $83.4 million, up from $77.7 million in 2023, reflecting ongoing clinical trials for product candidates CX-2051 and CX-801. The company has yet to generate revenue from product sales and has an accumulated deficit of $691.6 million as of December 31, 2024. CytomX's strategic focus includes advancing its lead candidates, CX-2051 and CX-801, both in early clinical stages, with preliminary data expected in 2025. The company has established collaborations with major pharmaceutical firms, including Amgen and Bristol Myers Squibb, which are crucial for funding and resource access. However, recent decisions to terminate programs like CX-904 and CX-2029 highlight the inherent risks in clinical development. The company faces significant challenges, including reliance on third-party manufacturers, regulatory approval uncertainties, and competition from established oncology products. Additionally, changes in healthcare regulations and potential market volatility pose risks to its future financial performance and stock price. As of February 2025, CytomX had approximately $100.6 million in cash and equivalents, expected to sustain operations into mid-2026.