C4 Therapeutics, Inc. Stock Price, News & Analysis

Lauren White has been appointed as Chief Financial Officer of Seaport Therapeutics, a clinical-stage biopharmaceutical company focused on neuropsychiatric medicines. White previously served as CFO at ImmunoGen, where she played a important role in the company's $10.1 billion acquisition by AbbVie in 2024 and the commercial launch of ELAHERE®. With over 22 years of experience, White's background includes positions at C4 Therapeutics, Novartis, Boston Consulting Group, and General Electric. She holds a BS from Boston College and an MBA from Harvard Business School.

C4 Therapeutics (CCCC) reported Q3 2024 financial results with revenue of $15.4 million, up from $11.1 million in Q3 2023. Net loss was $24.7 million ($0.35 per share). The company ended Q3 with $284.4 million in cash and equivalents, expected to fund operations into 2027.

Key highlights include progress in clinical trials for cemsidomide in multiple myeloma and non-Hodgkin's lymphoma, with data to be presented at ASH. CFT1946 showed promising initial monotherapy data with a well-tolerated safety profile. The company earned an $8 million milestone payment from Biogen for delivering a second development candidate.

C4 Therapeutics (Nasdaq: CCCC) announced the approval of an inducement grant consisting of non-qualified stock options to purchase 345,600 shares of common stock for one new employee. The grant, approved by independent directors on the Organization, Leadership and Compensation Committee, was made on October 28, 2024. The exercise price equals the closing price on the grant date. The options will vest over four years, with 25% vesting after one year and the remaining shares vesting in 36 monthly installments, contingent on continued employment.

C4 Therapeutics (Nasdaq: CCCC) has announced the appointment of Paige Mahaney, Ph.D. as the company's new Chief Scientific Officer (CSO), effective October 28, 2024. This follows the decision of Stewart Fisher, Ph.D. to retire. Dr. Fisher will serve as senior scientific advisor through the end of 2024 and as a consultant until the end of 2025.

Dr. Mahaney brings over 25 years of pharmaceutical and biotech experience, most recently serving as senior vice president and corporate head of drug discovery at Exelixis, Inc. Her expertise includes expanding clinical portfolios and advancing drug candidates across various disease indications.

During his tenure at C4T, Dr. Fisher supported the development of the TORPEDO® platform and led the development of a library of over 10,000 Cereblon ligands. Under his leadership, C4T has advanced three novel degraders into the clinic and partnered with global pharmaceutical companies to extend the reach of targeted protein degradation.

C4 Therapeutics (Nasdaq: CCCC), a clinical-stage biopharmaceutical company focused on targeted protein degradation, announced its participation in the 7th Annual Targeted Protein Degradation & Induced Proximity Summit from October 28-31, 2024, in Boston. Four company leaders will deliver presentations and participate in panel discussions, showcasing C4T's expertise in developing orally bioavailable degraders.

Key presentations include:

• CEO Andrew Hirsch in a panel on strategic outlook for the field
• CSO Stew Fisher on leveraging kinetics-based PKPD modeling for degrader optimization
• CMO Len Reyno presenting initial clinical data for CFT1946
• CBO Scott Boyle participating in two panels on strategic partnership deals

These presentations aim to demonstrate C4T's potential to transform patients' lives through their innovative approach to protein degradation science.

C4 Therapeutics (C4T), a clinical-stage biopharmaceutical company focused on targeted protein degradation science, has announced an inducement grant for a new employee. The grant, approved by the independent directors on the Organization, Leadership and Compensation Committee, consists of non-qualified stock options to purchase 146,880 shares of C4T's common stock.

The grant was made on September 30, 2024, in accordance with Nasdaq Listing Rule 5635(c)(4). The exercise price is equal to the closing price of C4T's common stock on the grant date. The options will vest over four years, with 25% vesting after one year and the remainder vesting in twelve equal monthly installments, subject to continued employment.

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.