Welcome to our dedicated page for CytomX Therapeutics news (Ticker: CTMX), a resource for investors and traders seeking the latest updates and insights on CytomX Therapeutics stock.
CytomX Therapeutics, Inc. (Nasdaq: CTMX) is a leading oncology-focused biopharmaceutical company pioneering a novel class of investigational antibody therapeutics with its proprietary Probody® technology platform. Based in South San Francisco, CytomX leverages this platform to develop cancer immunotherapies that target clinically-validated and novel oncological targets. The unique Probody® therapeutics are designed to enhance the tumor-targeting capabilities of antibodies while minimizing toxicity in healthy tissues.
Probody® therapeutics operate by taking advantage of the unique conditions present in the tumor microenvironment, thereby improving both the efficacy and safety profiles of monoclonal antibody treatments, including cancer immunotherapies, antibody-drug conjugates (ADCs), and T-cell-recruiting bispecific antibodies. The company's innovative pipeline includes several promising candidates currently in various stages of development.
Among its recent achievements, CytomX is advancing its lead programs, CX-2051 and CX-801, into Phase 1 clinical studies. CX-2051 is an ADC that targets EpCAM-expressing tumors, including colorectal cancer, while CX-801 aims to overcome limitations associated with interferon-directed therapies. These candidates exemplify the versatility and productivity of CytomX's Probody® platform, promising significant advancements in cancer treatment.
CytomX has established strategic collaborations with industry leaders such as Amgen, Astellas, Bristol Myers Squibb, Regeneron, and Moderna to further enhance its research and development capabilities. As a result, the company is well-positioned to lead in the development of conditionally activated biologics designed for localized action within tumor microenvironments.
Financially, CytomX has made significant strides in cost control and strategic allocation of capital towards lead pipeline programs. In 2023, the company reduced its total operating expenses by $46.8 million, driven by workforce reductions and strategic pipeline prioritization. Research and development expenses decreased by $34.0 million, while general and administrative expenses decreased by $12.8 million.
For more information about CytomX and its innovative approach to cancer treatment, visit their official website at www.cytomx.com and follow them on LinkedIn and Twitter.
CytomX Therapeutics has promoted Chris Ogden to Chief Financial Officer, effective June 15, 2024. Ogden has been with CytomX since August 2021, previously serving as Senior Vice President, Finance and Accounting.
Ogden brings extensive experience from his 16-year tenure at Eli Lilly, where he held senior financial roles, including CFO of Lilly Diabetes. He holds an M.B.A. from Harvard Business School.
CEO Sean McCarthy highlights Ogden's financial acumen and strategic leadership. Ogden expresses excitement about his new role and CytomX's mission to develop innovative cancer therapies.
CytomX Therapeutics, a leader in biologic therapeutics, will present at the Jefferies Global Healthcare Conference. Sean McCarthy, CEO and Chairman, is set to present on June 6, 2024, at 8:30 a.m. ET. The presentation will be live-streamed on CytomX’s website. Management will also conduct one-on-one meetings with registered investors.
CytomX Therapeutics, a leader in masked, conditionally activated biologics, granted stock options to two new employees on May 15, 2024. The options total 130,000 shares of the company’s common stock, priced at $1.96 per share, which was the closing price on the grant date. These options were granted under the company's 2019 Employment Inducement Incentive Plan, approved by the board in August 2020. The plan aims to attract new employees under Rule 5635(c)(4) of The Nasdaq Global Market.
CytomX Therapeutics announced positive initial data from the ongoing Phase 1a clinical study of CX-904, a masked PROBODY T-cell engager targeting EGFR in cancer patients. The drug showed a favorable safety profile with no CRS observed, promising anti-cancer activity in advanced pancreatic cancer, and encouraging pharmacokinetic results. Management plans to continue dose escalation and optimization, with further updates expected by the end of 2024.
CytomX Therapeutics reported positive initial Phase 1a dose escalation data for CX-904 in solid tumors, with ongoing dose escalation. Additionally, the first dose cohort for CX-2051 in solid tumors has been cleared, and the Phase 1 study continues. CX-801 is advancing to Phase 1 with a clinical collaboration agreement with Merck. The company achieved $10 million in milestones with Astellas. Financially, total revenue increased to $41.5 million, cash equivalents totaled $150.3 million, and research and development expenses increased slightly.
CytomX Therapeutics announced a clinical collaboration with Merck to evaluate CX-801 in combination with KEYTRUDA in patients with advanced metastatic solid tumors. The Phase 1 first-in-human study is expected to start in the first half of 2024. CX-801 is a masked interferon-alpha2b cytokine designed to activate the immune tumor microenvironment while overcoming systemic toxicities.
CytomX Therapeutics, Inc. (Nasdaq: CTMX) will release first quarter 2024 results and share preliminary Phase 1a data for CX-904 on May 8, 2024. The company specializes in masked, conditionally activated biologic therapeutics and will host a conference call for investors to discuss the updates.
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