Summary by Moomoo AI
C4 Therapeutics reported Q3 2024 financial results with revenue of $15.4M, up from $11.1M YoY, driven by an $8M Biogen milestone payment. The company ended Q3 with $284.4M in cash, providing runway into 2027. Net loss was $24.7M or $0.35 per share, improved from $27M loss in Q3 2023.The company continues to advance its clinical programs, with cemsidomide Phase 1/2 trials progressing in multiple myeloma and non-Hodgkin's lymphoma. Data from both indications will be presented at the upcoming ASH Annual Meeting. CFT1946 showed promising initial monotherapy data with a well-tolerated safety profile and early anti-tumor activity.Key upcoming milestones include completing Phase 1 dose exploration for cemsidomide by year-end, initiating CFT1946 combination therapy with trametinib in melanoma, and multiple data readouts planned for 2025. The company also strengthened its leadership team by appointing Paige Mahaney as Chief Scientific Officer and Stephen Fawell to the Board of Directors.
