CytomX Therapeutics Reports Q3 2026 Financial Results and Varseta-M Clinical Updates
CytomX Therapeutics (CTMX) reported third-quarter 2026 revenue of $1.7 million, a significant decrease from $6 million in the prior year due to the conclusion of its collaboration with Astellas. Despite the revenue decline and a net loss of $20 million ($0.09 per share), the company maintains a strong liquidity position with a cash balance of $348 million, bolstered by a recent $37 million payment from Regeneron. This capital provides a projected runway into the second half of 2028. The company is currently focused on its lead program, Varseta-M, an EpCAM-directed antibody-drug conjugate. Clinical efforts are centered on managing gastrointestinal toxicity, specifically targeting a grade 3 diarrhea rate of 20% or below to ensure optimal dose intensity. Management aims to advance Varseta-M toward its first potential registrational study in metastatic colorectal cancer during the first half of 2027.
Topics: Cash Runway Clinical Trial Progress R&D Expenses Revenue Decrease