C4 Therapeutics, a clinical-stage biopharmaceutical company, has not generated revenue from product sales and does not expect to do so in the foreseeable future. The company's revenues have been derived from research collaboration and license agreements, with a decrease in revenue from $31.1 million in 2022 to $20.8 million in 2023. This decline is attributed to the completion of research terms under the Biogen Agreement and the full satisfaction of performance obligations under the Calico Agreement. Research and development expenses remained relatively stable year-over-year, with a slight decrease from $117.8 million in 2022 to $117.7 million in 2023. The company's pipeline includes product candidates CFT7455, CFT1946, and CFT8919, targeting various cancers and other indications. C4 Therapeutics has entered into strategic collaborations with Merck, Biogen, and Roche, and has...Show More

C4 Therapeutics, a clinical-stage biopharmaceutical company, has not generated revenue from product sales and does not expect to do so in the foreseeable future. The company's revenues have been derived from research collaboration and license agreements, with a decrease in revenue from $31.1 million in 2022 to $20.8 million in 2023. This decline is attributed to the completion of research terms under the Biogen Agreement and the full satisfaction of performance obligations under the Calico Agreement. Research and development expenses remained relatively stable year-over-year, with a slight decrease from $117.8 million in 2022 to $117.7 million in 2023. The company's pipeline includes product candidates CFT7455, CFT1946, and CFT8919, targeting various cancers and other indications. C4 Therapeutics has entered into strategic collaborations with Merck, Biogen, and Roche, and has initiated clinical trials for its advanced product candidates. The company announced a 30% workforce reduction and a strategic sale of common stock, raising $71.8 million through an ATM facility and $25 million from a subsidiary of Betta Pharma. C4 Therapeutics continues to progress in its Phase 1/2 clinical trials and has shared positive clinical data for CFT7455. The company's future plans include executing against its strategic plan, with a focus on advancing its clinical trials and product development.