C4 Therapeutics, Inc. - CCCC STOCK NEWS

C4 Therapeutics (Nasdaq: CCCC) reported a net loss of $32 million for Q3 2022 compared to $24.7 million in Q3 2021. Total revenue decreased to $6.8 million from $8.5 million, driven by collaborative agreements. R&D expenses rose to $29.7 million, primarily due to ongoing clinical trials for CFT7455 and CFT8634. They achieved IND clearance for CFT1946, a significant milestone expected to lead to Phase 1/2 trial initiation by year-end. Cash and marketable securities as of September 30, 2022, stood at $366 million, sufficient to fund operations until the end of 2024.

C4 Therapeutics (Nasdaq: CCCC) has received FDA approval to proceed with a Phase 1/2 trial for its drug CFT1946, targeting BRAF-V600 mutant solid tumors like lung, colorectal, and melanoma. This marks C4T's third successful oncology investigational new drug application in under two years. CFT1946 aims to provide deeper and more durable responses compared to existing BRAF inhibitor treatments. The trial will primarily assess safety, tolerability, and anti-tumor activity, with initial evaluations involving CFT1946 as a single agent and later in combination with trametinib.

C4 Therapeutics (Nasdaq: CCCC) announced participation in the Bank of America Securities Precision Oncology Conference 2022. The event will occur on October 3, 2022, at 9:50 a.m. ET. C4T focuses on advancing targeted protein degradation science to develop innovative small-molecule medicines aimed at improving patient outcomes in oncology. The presentation will be available via live webcast on the company's website, with an archived replay accessible for 30 days post-event. C4T is leveraging its TORPEDO® platform to tackle challenging diseases.

C4 Therapeutics (Nasdaq: CCCC) reported a 40% increase in total revenue to $13.8 million for Q2 2022, up from $9.8 million in Q2 2021, driven by collaboration agreements. The company incurred a net loss of $27.4 million, leading to a net loss per share of $0.56. C4T continues to advance its pipeline with CFT7455 and CFT8634 in Phase 1/2 trials. The company maintains a strong cash position of $397.8 million, projected to fund operations through the end of 2024.

C4 Therapeutics, Inc. (Nasdaq: CCCC) has appointed Dr. Laura Bessen and Dr. Donna Grogan to its board of directors, enhancing its leadership as it advances targeted protein degradation science. Dr. Bessen brings over 20 years in medical affairs, having launched 11 products at Bristol Myers Squibb. Dr. Grogan, an expert in drug development, has held leadership roles at multiple biopharmaceutical firms. Their appointments signify C4T's commitment to innovative therapies in oncology as it progresses multiple programs in clinical trials.

C4 Therapeutics (Nasdaq: CCCC) announced the dosing of the first patient in its Phase 1/2 clinical trial for CFT8634, a targeted treatment for SMARCB1-perturbed cancers, including synovial sarcoma. This BiDAC™ degrader targets BRD9, deemed 'undruggable.' The trial will focus on CFT8634's safety, tolerability, and anti-tumor activity, enrolling approximately 90 patients. CFT8634 has received orphan drug designation from the FDA, marking a significant advancement in C4T's oncology pipeline and potentially offering new options for patients with limited therapies.

C4 Therapeutics (Nasdaq: CCCC) reported Q1 2022 financial results, with total revenue of $7.7 million compared to $7.4 million in Q1 2021. R&D expenses rose to $26.2 million, up from $20.5 million year-over-year. The net loss increased to $31.6 million or $0.65 per share, compared to a $21.0 million loss in the prior year. As of March 31, 2022, cash, cash equivalents, and marketable securities totaled $421.7 million, expected to fund operations until late 2024. The company continues dose optimization trials for CFT7455 and has initiated a Phase 1/2 trial for CFT8634.

C4 Therapeutics (Nasdaq: CCCC) announced promising early data from its Phase 1/2 trial of CFT7455, a targeted protein degrader aimed at treating multiple myeloma and non-Hodgkin's lymphomas. The trial demonstrated significant drug activity, with some patients showing reductions in serum free light chains by up to 78%. However, dose-limiting toxicities were noted, including Grade 4 neutropenia. The trial aims to optimize dosing to enhance the therapeutic index as patient enrollment continues. A conference to discuss these findings is scheduled for today.

C4 Therapeutics, Inc. (Nasdaq: CCCC) has appointed Utpal Koppikar as an independent board member and chair of the Audit Committee. Koppikar, currently CFO at Atara Biotherapeutics, brings extensive financial expertise and leadership in the biotechnology sector. The appointment aims to enhance corporate governance and support C4T's growth strategies in targeted protein degradation. Following this change, Dr. Elena Prokupets has retired from the board. C4T is advancing its novel degrader medicines using its TORPEDO® platform to transform patient care.