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C4 Therapeutics, Inc. (Nasdaq: CCCC) is a pioneering clinical-stage biopharmaceutical company focused on utilizing targeted protein degradation to create novel medicines that transform patient outcomes. The company's core technology, the TORPEDO® platform, enables the design and optimization of small-molecule medicines aimed at degrading disease-causing proteins through the ubiquitin/proteasome system. This innovative approach offers solutions to overcome drug resistance and target previously undruggable proteins.
C4 Therapeutics is actively advancing several proprietary oncology programs into clinical trials. Notable among these is CFT7455, also known as cemsidomide, an oral degrader targeting IKZF1/3 for treating relapsed/refractory multiple myeloma (R/R MM) and non-Hodgkin’s lymphomas (R/R NHL). Recent clinical data indicates that CFT7455 is well-tolerated and exhibits promising anti-myeloma activity, supporting its continued development.
Another key program, CFT1946, is an oral BiDAC™ degrader designed to target BRAF V600 mutations. This compound is being tested for its efficacy in treating solid tumors, including non-small cell lung cancer (NSCLC), colorectal cancer (CRC), and melanoma. Early clinical results are promising, showing that CFT1946 is active against BRAF V600E-driven disease and exhibits central nervous system (CNS) activity, a significant advantage over existing BRAF inhibitors.
In addition to its internal programs, C4 Therapeutics has established strategic partnerships with industry leaders such as Roche, Biogen, and Merck KGaA, Darmstadt, Germany. These collaborations aim to leverage the company's TORPEDO® platform to discover and develop new degraders targeting various oncogenic proteins. Notably, under an agreement with Merck KGaA, C4T will receive an upfront payment and significant milestone payments, underpinning the potential commercial success of their partnered programs.
Financially, C4 Therapeutics reported a total revenue of $20.8 million for 2023, with a net loss of $132.5 million. However, the company is well-capitalized, with cash, cash equivalents, and marketable securities amounting to $281.7 million as of December 31, 2023, ensuring sufficient funds to support its operations into 2027.
By continuously pushing the boundaries of targeted protein degradation science, C4 Therapeutics aims to revolutionize the treatment landscape for patients with challenging diseases, ultimately striving to deliver breakthrough therapies that significantly enhance patient care and outcomes.
C4 Therapeutics (Nasdaq: CCCC) presented initial clinical data for CFT1946, an oral BRAF V600 mutant protein degrader, at the ESMO Congress 2024. The Phase 1 trial showed that CFT1946 is well-tolerated with no dose-limiting toxicities across five dose levels. Key findings include:
- Dose-dependent bioavailability and BRAF V600E protein degradation
- Early evidence of anti-tumor activity in patients who progressed after BRAF inhibitor therapies
- 16 out of 27 evaluable patients demonstrated tumor reduction
- Two confirmed partial responses, including a 67% decrease in a melanoma patient and a 55% decrease in a pancreatic cancer patient
The trial continues with monotherapy and combination expansion cohorts. Additional data is expected in 2025.
C4 Therapeutics (Nasdaq: CCCC) has successfully delivered a second development candidate to Biogen, earning an $8 million milestone payment. This marks the final development candidate under their strategic collaboration. The delivered candidate is a highly catalytic, brain penetrant orally bioavailable BiDAC™ degrader.
C4T's TORPEDO® platform has demonstrated its potential to design innovative degraders against various target classes. Since 2015, C4T has advanced four development candidates for its clinical pipeline and delivered two to Biogen. Under the 2018 collaboration, C4T provided expertise in targeted protein degradation, while Biogen offered scientific and drug development capabilities. Biogen is responsible for future clinical development and commercialization of the delivered candidates.
C4 Therapeutics (Nasdaq: CCCC) announced the release of an abstract containing clinical data from its ongoing Phase 1 trial of CFT1946, a novel BiDAC™ degrader, for mutant BRAF V600 solid tumors. The abstract, with a data cut-off of April 12, 2024, is available on the ESMO Congress 2024 website. An oral presentation scheduled for September 13, 2024, will provide updated data on 36 patients with a cut-off date of July 19, 2024.
The presentation will include patient demographics, safety, pharmacokinetic, pharmacodynamic, and anti-tumor activity data measured by RECIST 1.1 criteria. C4T will host a webcast for analysts and investors on September 13, 2024, at 12:00 pm ET to discuss the findings.
C4 Therapeutics (Nasdaq: CCCC), a clinical-stage biopharmaceutical company focused on targeted protein degradation, has appointed Stephen Fawell, Ph.D. to its Board of Directors. Dr. Fawell brings nearly 35 years of drug discovery experience, particularly in oncology. He recently served as vice president of oncology small molecule drug discovery at AstraZeneca, where he advanced over 25 new drugs into clinical trials and supported the development of several approved medications.
Concurrently, Malcolm Salter is retiring from the Board after nearly a decade of service. The company's CEO, Andrew Hirsch, expressed excitement about leveraging Dr. Fawell's expertise in drug discovery and development, aligning with C4 Therapeutics' focus on developing degrader medicines. Dr. Fawell stated his enthusiasm for joining the board and supporting the management team in advancing their portfolio towards pivotal milestones.
C4 Therapeutics (Nasdaq: CCCC), a clinical-stage biopharmaceutical company focused on targeted protein degradation, has announced its participation in two upcoming investor conferences in September 2024. The company's management will engage in fireside chats at the following events:
- Wells Fargo Healthcare Conference in Boston, MA on September 5, 2024, at 8:45 AM ET
- 2024 Cantor Global Healthcare Conference in New York, NY on September 18, 2024, at 8:35 AM ET
Both events will feature live webcasts accessible through C4 Therapeutics' website, with archived replays available for approximately 30 days after the live events.
C4 Therapeutics (Nasdaq: CCCC) announced that the European Society for Medical Oncology (ESMO) Congress has upgraded their previously accepted preliminary Phase 1 abstract for CFT1946, a novel BiDAC™ degrader for mutant BRAF V600 solid tumors, to an oral presentation. The presentation is scheduled for September 13, 2024, at 4:00 pm to 5:30 pm CEST. Dr. Maria Vieito from Barcelona will present the preliminary results from the Phase 1 study. C4T will also host an investor webcast on the same day to discuss the CFT1946 monotherapy data from the ongoing trial. This change in presentation format suggests increased interest in C4T's research, potentially indicating promising preliminary results for their targeted protein degradation approach in oncology.
C4 Therapeutics (Nasdaq: CCCC) reported Q2 2024 financial results and business highlights. Key points include:
- Preliminary CFT1946 Phase 1 data for BRAF V600X solid tumors to be presented at ESMO Congress 2024
- Cemsidomide Phase 1 trial progressing; data expected in Q4 2024
- Cash position of $295.7 million as of June 30, 2024, providing runway into 2027
- Q2 2024 revenue: $12.0 million, up from $2.7 million in Q2 2023
- Q2 2024 net loss: $17.7 million, improved from $35.9 million in Q2 2023
- Net loss per share: $0.26, compared to $0.73 in Q2 2023
The company continues to advance its clinical programs and expects multiple data readouts in H2 2024.
C4 Therapeutics (Nasdaq: CCCC) has announced that preliminary data from the monotherapy dose escalation portion of their ongoing Phase 1/2 clinical trial of CFT1946 will be presented at the ESMO Congress 2024 in Barcelona, Spain. CFT1946 is a novel BiDAC™ degrader targeting mutant BRAF V600 solid tumors. The presentation, titled 'Preliminary Results from a Phase 1 Study of CFT1946, a Novel BIDAC Degrader in Mutant BRAF V600 Solid Tumors,' will be delivered as a mini oral presentation on September 14, 2024. This presentation marks an important milestone in C4 Therapeutics' development of targeted protein degradation therapies and could provide valuable insights into the potential efficacy of CFT1946 in treating BRAF V600 mutant solid tumors.
C4 Therapeutics (Nasdaq: CCCC), a clinical-stage biopharmaceutical company focused on targeted protein degradation, will participate in the UBS Targeted Protein Degradation Day, held virtually on July 15, 2024. The company's management will engage in a fireside chat from 12:00 pm ET to 12:30 pm ET. A live webcast of the event will be accessible on the Investors section of C4 Therapeutics' website, with a replay available for 30 days post-event.
C4 Therapeutics has appointed Ron Cooper as the new Chairman of the Board.
He brings extensive global pharmaceutical and biotechnology experience.
Bruce Downey will remain on the Board and chair the Organization, Leadership, and Compensation Committee.
Glenn Dubin is stepping down from the Board.
C4 Therapeutics aims to become a fully integrated biotechnology company, focusing on targeted protein degradation science.
Ron Cooper's past roles include leadership positions at Albireo Pharma and Bristol-Myers Squibb.
His experience spans across discovery, development, and commercialization of pharmaceutical products.
CEO Andrew Hirsch expressed excitement about Cooper's appointment and the future growth of C4 Therapeutics.
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