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 (NASDAQ: CTMX) announced the presentation of updated Phase 1 results for BMS-986249, its Probody therapeutic designed to target CTLA-4, at the ESMO 2022 Congress. Collaborator Bristol Myers Squibb reported encouraging findings, including a complete response in melanoma and a partial response in colorectal cancer. The ongoing Phase 2 trial aims to evaluate BMS-986249's efficacy against conventional ipilimumab. CytomX continues to advance a diverse pipeline of oncology candidates with multiple collaborations, enhancing its presence in the oncology market.
CytomX Therapeutics presented advancements in its ADC portfolio, particularly CX-2051, at the World ADC conference in San Diego on September 6-9, 2022. CX-2051 is a conditionally activated ADC, targeting EpCAM, aimed at improving treatment for EpCAM-expressing cancers. The payload is camptothecin, which has shown safe clinical activity. CytomX's strategy focuses on leveraging its Probody technology to enhance therapeutic efficacy while minimizing toxicity. Upcoming plans include submissions for investigational new drug applications in the latter half of 2023.
CytomX Therapeutics (CTMX) reported its Q2 2022 financial results, highlighting a strategic restructuring aimed at focusing on its early-stage pipeline and extending its cash runway to 2025. The company plans to submit INDs for two product candidates in 2023 and is advancing partnered clinical programs including CX-904 with Amgen and BMS-986249 with Bristol Myers Squibb. Cash and investments stood at $228 million, up from $16 million in revenue year-over-year. R&D expenses increased to $31 million, attributed to higher personnel costs.
CytomX Therapeutics (Nasdaq: CTMX), a leader in oncology therapeutics, announced CEO Sean McCarthy will participate in two investor conferences this August. The conferences are the BTIG Biotechnology Conference on August 9, 2022, and the 2022 Wedbush PacGrow Healthcare Virtual Conference on August 10, 2022, where he will take part in a panel discussion at 2:20 p.m. ET. A live webcast of the Wedbush panel will be available on CytomX’s website. The company focuses on conditionally activated biologics, with a robust pipeline including candidates for various cancers.
CytomX Therapeutics, Inc. (Nasdaq: CTMX) will release its Q2 2022 financial results on August 4, 2022, after U.S. market closure. A conference call will follow at 5:00 p.m. ET to discuss the results and provide corporate updates. Participants can join via the company’s webcast.
CytomX focuses on oncology therapeutics, leveraging its Probody® technology. The pipeline includes seven candidates, with three in Phase 2 studies for various cancer types.
CytomX Therapeutics (Nasdaq: CTMX) is restructuring to focus on its next-generation, conditionally activated therapeutics, including the IFN alpha-2b cytokine and EpCAM-directed ADC, with Investigational New Drug (IND) applications planned for 2023. The company will reduce its workforce by approximately 40% to extend its cash runway to 2025 while maintaining current partnerships with AbbVie and Bristol Myers Squibb. Ongoing clinical programs include CX-2029 and CX-904, with data updates anticipated in 2022. The leadership aims to leverage its Probody platform to enhance cancer therapies.
CytomX Therapeutics announced the completion of a Phase 2 study of praluzatamab ravtansine in patients with HR+/HER2-non-amplified breast cancer, achieving a primary endpoint of a confirmed objective response rate (ORR) of 15%. This study also reported a clinical benefit rate of 40% at 24 weeks and a median progression-free survival of 2.6 months. However, Arm B of the study, targeting triple-negative breast cancer, failed to meet its endpoint, leading to its discontinuation. The company plans to pursue partnerships for further development given current financial conditions.
CytomX Therapeutics, Inc. (Nasdaq: CTMX) granted stock options for 109,000 shares at $1.72 per share to two new employees on June 15, 2022. This grant is part of the Company’s 2019 Employment Inducement Incentive Plan, approved by its board of directors in August 2020. CytomX is advancing conditionally activated oncology therapeutics, including its investigational antibody-drug conjugates praluzatamab ravtansine and CX-2029, which are in Phase 2 studies targeting challenging cancer types.
CytomX Therapeutics (Nasdaq: CTMX) announced that CEO Sean McCarthy will present at the Jefferies Healthcare Conference on June 8, 2022, at 2:00 p.m. ET. A live webcast of the presentation will be available on CytomX’s website, with an archived replay accessible for 30 days.
CytomX is a clinical-stage biopharmaceutical company focused on conditionally activated cancer therapies. Its pipeline includes investigational drugs like praluzatamab ravtansine and CX-2029, targeting complex cancers. The company partners with leaders in oncology, including AbbVie and Bristol Myers Squibb.
CytomX Therapeutics (Nasdaq: CTMX) has announced the initiation of a Phase 1 dose-escalation study for its investigational bispecific antibody, CX-904, targeting EGFR and CD3 on T cells. This study marks the sixth candidate from CytomX's Probody platform to enter clinical trials, emphasizing its commitment to innovative cancer therapies. The trial aims to improve therapeutic windows in treating solid tumors, leveraging conditionally activated T-cell engagement. Early preclinical models indicate promising potential, and trial results may address unmet needs in multiple tumor types.
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