C4 Therapeutics, Inc. reported its financial results for the first quarter of 2025, revealing a revenue of $7.2 million from collaboration agreements, a significant increase from $3.0 million in the same period last year. This growth is attributed primarily to advancements in its collaboration agreements, particularly with MKDG and Roche, which contributed $3.2 million and $2.5 million, respectively. The company continues to operate at a loss, posting a net loss of $26.3 million for the quarter, slightly improved from a net loss of $28.4 million in the first quarter of 2024. The loss per share for the quarter was $0.37, compared to $0.41 in the prior year.
Total operating expenses for the quarter were $36.4 million, up from $35.3 million in the previous year. Research and development expenses rose to $27.1 million, driven by increased preclinical and clinical activities, including ongoing trials for its lead product candidate, cemsidomide. General and administrative expenses decreased to $9.3 million, reflecting cost-saving measures following a restructuring that reduced the workforce by 30% in early 2024. The company’s accumulated deficit now stands at $660.0 million as of March 31, 2025.
C4 Therapeutics has made strategic advancements in its collaboration agreements, including a new partnership with MKDG to develop targeted protein degraders and an ongoing collaboration with Merck for degrader-antibody conjugates. The company also entered into a license agreement with Betta Pharma for the development of CFT8919 in Greater China, which includes potential milestone payments totaling up to $357 million. These collaborations are expected to enhance the company’s pipeline and provide additional revenue streams in the future.
As of March 31, 2025, C4 Therapeutics reported total assets of $319.5 million, down from $349.6 million at the end of 2024. The company had cash, cash equivalents, and marketable securities totaling $234.7 million, which it believes will be sufficient to fund operations for at least the next twelve months. The company continues to face challenges typical of early-stage biopharmaceutical firms, including the need for additional financing to support ongoing research and development efforts. C4 Therapeutics anticipates continued operating losses as it advances its clinical programs and seeks to bring its product candidates to market.
About C4 Therapeutics, Inc.
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