Summary by Moomoo AI
On October 31, 2024, C4 Therapeutics, Inc. announced its financial results for the third quarter ending September 30, 2024, along with recent business highlights. The company, a clinical-stage biopharmaceutical firm, reported a total revenue of $15.4 million for the quarter, an increase from $11.1 million in the same period the previous year. This rise was attributed to an $8 million milestone payment from Biogen and $2.9 million recognized under a license and supply agreement with Betta. Research and Development expenses were $31.8 million, up from $28.3 million in Q3 2023, due to increased clinical trial expenses. General and Administrative expenses also rose to $11.8 million from $10.5 million, mainly due to higher stock-based compensation costs. The net loss for the quarter was $24.7 million, or $0.35 per share, an improvement from a net loss of...Show More
