Business
C4 Therapeutics Reports First Quarter 2023 Financial Results and Recent Business Highlights
Preclinical Data Presented at AACR Demonstrated CFT1946 is a Potent and Mutant-Selective BRAF V600 BiDAC™ Degrader; Phase 1/2 Clinical Trial Enrolling
About this update from C4 Therapeutics, Inc.
[{"type":"text","content":"Preclinical Data Presented at AACR Demonstrated CFT1946 is a Potent and Mutant-Selective BRAF V600 BiDAC™ Degrader; Phase 1/2 Clinical Trial Enrolling Patients Phase 1 Dose Escalation Data from the Ongoing Phase 1/2 Clinical Trials of CFT7455, an IKZF1/3 MonoDAC™ Degrader, and CFT8634, a BRD9 BiDAC Degrader, Expected in 2H 2023 Cash, Cash Equivalents and Marketable Securities of $305.0 million as of March 31, 2023; Expected to Provide Runway into 2025 WATERTOWN, Mass., May 04, 2023 (GLOBE NEWSWIRE) -- C4 Therapeutics, Inc. (C4T) (Nasdaq: CCCC), a clinical-stage biopharmaceutical company dedicated to advancing targeted protein degradation science to develop a new generation of small-molecule medicines and transform how disease is treated, today reported financial results for the first quarter ended March 31, 2023, as well as recent business highlights. “Thus far in 2023, we have executed against key milestones, including progressing three orally bioavailable degrader programs through the clinic and presented new preclinical data from our most recent clinical program, CFT1946, at AACR,” said Andrew Hirsch, president and chief executive officer of C4 Therapeutics. “This preclinical data highlights the capabilities of our TORPEDO® platform to develop catalytically efficient and orally bioavailable degraders and we look forward to continuing to advance both MonoDAC and BiDAC clinical programs to bring new therapeutic options to patients with difficult-to-treat diseases.” FIRST QUARTER 2023 AND RECENT HIGHLIGHTS CFT7455: CFT7455 is an oral degrader of IKZF1/3 for the treatment of multiple myeloma (MM) and non-Hodgkin’s lymphomas (NHL). Progressed the Phase 1/2 Clinical Trial: The dose escalation portion of the CFT7455 Phase 1/2 clinical trial continues in MM and NHL. The three arms of the trial are evaluating CFT7455 as a monotherapy for MM, in combination with dexamethasone for MM and as a monotherapy for NHL. CFT8634: CFT8634 is an oral degrader of BRD9 for the treatment of synovial sarcoma and SMARCB1-null solid tumors. Encouraging Initial Pharmacokinetic (PK) and Pharmacodynamic (PD) Data: In January 2023, shared PK and PD data from the initial escalation cohorts of the ongoing CFT8634 Phase 1/2 clinical trial demonstrating dose proportional exposure, strong oral bioavailability and deep BRD9 degradation.Progressed the Phase 1/2 C...