Core Viewpoint - CytomX Therapeutics (CTMX) is anticipated to exceed earnings expectations for Q1 2025, with a consensus estimate of 18 cents per share and projected revenues of $35.52 million [1][3]. Group 1: Earnings Expectations - The Zacks Consensus Estimate for CTMX's earnings per share in the upcoming quarter is currently set at 18 cents [1]. - The expected revenue for the same period is $35.52 million [1]. - CTMX has a positive earnings surprise history, having beaten estimates in three of the last four quarters, with an average surprise of 180.70% [11]. Group 2: Pipeline Developments - CTMX's lead investigational candidate, CX-2051 (EpCAM PROBODY ADC), is in a phase I dose-escalation study for advanced metastatic colorectal cancer, with initial data expected in the first half of 2025 [3][4]. - The company is also evaluating CX-801 (PROBODY Interferon-alpha 2b) for metastatic melanoma, with initial data anticipated in the second half of 2025 [6]. Group 3: Strategic Changes - In January 2025, CTMX announced a workforce reduction of about 40% to prioritize clinical programs and improve financial flexibility, with cost savings expected to support early-stage research and administrative functions [7][8]. - The restructuring is projected to extend CTMX's cash runway through the second quarter of 2026 [8]. Group 4: Financial Outlook - Research and Development expenses are likely to have increased due to higher clinical development costs for pipeline candidates, while general and administrative expenses are expected to have declined year over year due to workforce reductions [8][9].

Core Viewpoint - CytomX Therapeutics (CTMX) has received an upgrade to a Zacks Rank 1 (Strong Buy), indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][4]. Earnings Estimates and Revisions - The Zacks Consensus Estimate for CytomX Therapeutics for the fiscal year ending December 2025 is projected at $0.10 per share, reflecting a decrease of 73.7% from the previous year [9]. - Over the past three months, analysts have raised their earnings estimates for CytomX Therapeutics by 129% [9]. Zacks Rating System - The Zacks rating system is based solely on changes in a company's earnings picture, making it a reliable tool for investors to gauge stock performance [2][3]. - The system classifies stocks into five groups, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [8]. - The upgrade of CytomX Therapeutics to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [11].

Financial Data and Key Metrics Changes - As of December 31, 2024, the company ended the year with $100.6 million in cash, cash equivalents, and investments, a decrease from $174.5 million at the end of 2023 [29] - Total revenue for 2024 was $138.1 million, compared to $101.2 million for 2023, attributed to collaborations with BMS, Moderna, Astellas, and Regeneron [32] - Total operating expenses for 2024 were $113.1 million, up from $107.7 million in 2023, primarily due to a $5 million milestone payment to AbbVie for CX-2051 [33] Business Line Data and Key Metrics Changes - The lead program, CX-2051, is a first-in-class masked ADC targeting EPCAM, which is currently in clinical trials [9] - CX-801, a masked version of interferon alpha, is also progressing well in Phase 1 trials, with initial data expected in the second half of 2025 [24] Market Data and Key Metrics Changes - The unmet need in colorectal cancer is significant, with over 1.9 million new cases annually and limited new treatments in the last two decades [13] - The company is focusing on late-line colorectal cancer patients who have received at least three prior systemic therapies, where current treatment options are inadequate [14] Company Strategy and Development Direction - The company is prioritizing its lead programs, CX-2051 and CX-801, to extend its cash runway to Q2 2026 and support key clinical milestones [8] - The strategy includes advancing antibody masking technology across multiple treatment modalities, including T cell engagers and cytokines [7] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential of CX-2051 and CX-801 to generate significant near-term value creation, with initial clinical data expected in 2025 [8] - The company remains committed to disciplined capital allocation and resource management to progress its promising pipeline [34] Other Important Information - The company achieved a $5 million milestone payment in its collaboration with Astellas for the STELLUS T cell engager program [25] - The company has decided not to continue the development of CX-904 in collaboration with Amgen, focusing instead on other promising masked T cell engagers [26] Q&A Session Summary Question: Update on CX-2051 patient enrollment and data expectations - Management anticipates a meaningful update on CX-2051, including initial safety profile characterization and potential antitumor activity data [41][42] Question: Timing for CX-801 and KEYTRUDA combination therapy - The initiation of the KEYTRUDA combination is expected in the second half of 2025, likely before data presentation [45] Question: Therapeutically active doses in CX-2051 trial - A significant number of patients will be treated with doses predicted to be within the therapeutic active range by the time data is shared [51] Question: Differential activity based on KRAS status or liver metastases - There is no obvious biology suggesting a connection between KRAS status or liver metastases and EPCAM expression; the study is enrolling a broad patient population [55] Question: Expression levels of EPCAM in colorectal cancer - EPCAM is highly expressed in colorectal cancer, and the clinical results are expected to validate this [61] Question: Focus on colorectal cancer for CX-2051 - The focus on colorectal cancer is due to high and consistent EPCAM expression, significant unmet need, and the drug's design being optimized for this indication [70][72]

Financial Data and Key Metrics Changes - As of December 31, 2024, the company ended the year with $100.6 million in cash, cash equivalents, and investments, a decrease from $174.5 million at the end of 2023 [29] - Total revenue for 2024 was $138.1 million, compared to $101.2 million for the corresponding period in 2023, attributed to collaborations with BMS, Moderna, Astellas, and Regeneron [32] - Total operating expenses for 2024 were $113.1 million, an increase from $107.7 million in 2023, primarily due to a $5 million milestone payment for CX-2051 [33] Business Line Data and Key Metrics Changes - The lead program, CX-2051, is a first-in-class ADC targeting EPCAM, with a focus on colorectal cancer, which has a significant unmet need [7][13] - CX-801, a masked version of interferon alpha, is also progressing well in early clinical trials, with plans to initiate combination therapy with KEYTRUDA in 2025 [24] Market Data and Key Metrics Changes - The global unmet need in colorectal cancer is significant, with over 1.9 million new cases annually and limited new treatments emerging in the last two decades [13] - The company is focusing on late-line CRC patients who have generally received at least three prior systemic therapies, indicating a high unmet need in this patient population [15][70] Company Strategy and Development Direction - The company is prioritizing its lead programs, CX-2051 and CX-801, to extend its cash runway to Q2 2026 and support key clinical milestones [8][29] - The strategy includes a focus on antibody masking technology and collaborations with major pharmaceutical companies to enhance its pipeline [7][25] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the initial clinical data for CX-2051 and CX-801 expected in 2025, which could drive significant near-term value creation [8][28] - The company remains committed to disciplined capital allocation and resource management to progress its promising pipeline [34] Other Important Information - The company achieved a $5 million milestone in its collaboration with Astellas, indicating ongoing progress in its partnerships [31][25] - The company is not pre-selecting patients based on EPCAM expression or other disease characteristics in its Phase 1 study for CX-2051, aiming to characterize the drug across the full CRC population [15][56] Q&A Session Summary Question: Update on CX-2051 patient enrollment and data expectations - Management anticipates a meaningful update including initial safety profile characterization and potential antitumor activity data [41][42] Question: Timing for CX-801 and KEYTRUDA combination therapy - The initiation of the KEYTRUDA combination is expected in the second half of the year, likely before data presentation [45] Question: Therapeutically active doses in CX-2051 trial - A significant number of patients will be treated with doses predicted to be within the therapeutic active range by the time data is shared [51] Question: Expectations regarding KRAS status and liver metastases - There is no obvious biology suggesting a connection between KRAS status and EPCAM expression; the study aims to enroll a broad patient population [55] Question: Expression levels of EPCAM in CRC - EPCAM is highly expressed in colorectal cancer, and the clinical results are expected to validate this [61] Question: Focus on CRC for EPCAM targeting - The focus on CRC is due to its high and consistent EPCAM expression, significant unmet need, and the drug's design being optimized for this indication [70]

Core Insights - CytomX Therapeutics is advancing its lead program, CX-2051, in a Phase 1a study for advanced colorectal cancer, with initial clinical data expected in the first half of 2025 [1][2][3] - The company reported a cash position of $100.6 million as of December 31, 2024, which is projected to extend its cash runway into Q2 2026 [9][15] - Total revenue for 2024 was $138.1 million, a significant increase from $101.2 million in 2023, driven by collaborations with major pharmaceutical companies [10][11] Pipeline Program Updates - CX-2051 is a masked EpCAM-targeting antibody-drug conjugate (ADC) designed to address unmet needs in colorectal cancer, where EpCAM is expressed in over 90% of cases [2][6] - The Phase 1 study of CX-2051 began in April 2024, focusing on advanced metastatic colorectal cancer patients who have received multiple prior therapies [6] - CX-801, another program, is in Phase 1a for advanced melanoma, with initial translational data expected in the second half of 2025 [1][5][14] Financial Performance - Operating expenses for 2024 were $113.1 million, up from $107.7 million in 2023, primarily due to a $5 million milestone payment to AbbVie for CX-2051 [11][12] - Research and development expenses increased to $83.4 million in 2024, reflecting the costs associated with advancing CX-2051 [12] - The company reported a net income of $31.9 million for 2024, compared to a loss of $0.6 million in 2023, indicating a turnaround in financial performance [20] Corporate Strategy - In January 2025, CytomX announced a 40% reduction in organizational headcount to focus resources on CX-2051 and improve cost structure [15] - The company has established strategic collaborations with several leading oncology firms, including Bristol Myers Squibb, Amgen, Astellas, Regeneron, and Moderna [16]

- Continued progress with lead program, CX-2051 (EpCAM PROBODY® Topo-1 ADC), in Phase 1a study in advanced colorectal cancer with initial Phase 1a clinical data to be presented in 1H 2025 - - CX-801 (PROBODY® Interferon-alpha 2b) Phase 1a translational data in advanced melanoma expected in 2H 2025 - - Maintained financial strength with cash runway into Q2 2026 - - Company to host conference call today at 2 p.m. PST / 5 p.m. EST - SOUTH SAN FRANCISCO, Calif., March 06, 2025 (GLOBE NEWSWIRE) -- CytomX Therape ...

Financial Performance - Total revenue for 2024 was $138.1 million, an increase of 36.4% compared to $101.2 million in 2023[14] - The company reported a net income of $31.9 million for 2024, compared to a net loss of $0.6 million in 2023[24] Research and Development - Research and development expenses increased to $83.4 million in 2024, up from $77.7 million in 2023, primarily due to a $5.0 million milestone payment to AbbVie[16] - CX-2051 is the lead program, currently in Phase 1a study for advanced colorectal cancer, with initial data expected in 1H 2025[2] - The Phase 1 study of CX-2051 is ongoing, with a favorable tolerability profile and doses predicted to be therapeutically active achieved[11] - Initial Phase 1a translational data for CX-801 in advanced melanoma is anticipated in 2H 2025[2] Cash and Investments - CytomX ended 2024 with $100.6 million in cash, cash equivalents, and investments, down from $174.5 million at the end of 2023[14] - Cash and cash equivalents increased significantly from $17,171 million in 2023 to $38,052 million in 2024, representing a growth of about 121.5%[26] - The company expects its cash runway to extend into Q2 2026 due to cost reductions and focused clinical development[12] Organizational Changes - CytomX announced a 40% reduction in organizational headcount in January 2025 to focus resources on CX-2051[12] Assets and Liabilities - Total current assets decreased from $182,936 million in 2023 to $107,305 million in 2024, a decline of approximately 41.3%[26] - Total liabilities decreased from $249,239 million in 2023 to $120,989 million in 2024, a reduction of approximately 51.4%[26] - Deferred revenues, current portion dropped from $132,267 million in 2023 to $67,201 million in 2024, a decrease of about 49.3%[26] - The accumulated deficit improved from $(723,448) million in 2023 to $(691,579) million in 2024, indicating a reduction of approximately 4.4%[26] - Total stockholders' deficit decreased from $(47,447) million in 2023 to $(456) million in 2024, a significant improvement of about 99.0%[26] Other Financial Metrics - Short-term investments saw a decline from $157,338 million in 2023 to $62,571 million in 2024, a decrease of approximately 60.3%[26] - Operating lease right-of-use asset decreased from $12,220 million in 2023 to $8,136 million in 2024, a decline of about 33.4%[26] - Accounts payable decreased from $1,458 million in 2023 to $1,088 million in 2024, a reduction of approximately 25.3%[26] - Accrued liabilities decreased from $17,599 million in 2023 to $12,338 million in 2024, a decline of about 30.0%[26] - A $5 million milestone payment was triggered by Astellas advancing a program to GLP toxicology studies in February 2025[12]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-37587 CytomX Therapeutics, Inc. (Exact Name of Registrant as Specified in Its Charter) Delaware 27-3521219 (State or other jurisdicti ...

SOUTH SAN FRANCISCO, Calif., March 05, 2025 (GLOBE NEWSWIRE) -- CytomX Therapeutics, Inc. (Nasdaq: CTMX), a leader in the field of masked, conditionally activated biologics, today announced that Sean McCarthy, D.Phil., chief executive officer and chairman, will present at the Barclays 27th Annual Global Healthcare Conference on Wednesday, March 12, 2025, at 3:00 p.m. ET. A live webcast of the presentation will be available on the Events and Presentations page of CytomX’s website at www.cytomx.com. In additi ...

CytomX Therapeutics (CTMX) , a clinical-stage oncology company, is slated to report its fourth-quarter 2024 earnings results on March 6, after market close. The company leverages its proprietary PROBODY therapeutic platform to discover and develop safer, more effective therapies for the treatment of cancer.See the Zacks Earnings Calendar to stay ahead of market-making news.The Zacks Consensus Estimate for CTMX’s loss per share in the to-be-reported quarter is currently pegged at 20 cents. CytomX also recogn ...