Business
C4 Therapeutics Reports Recent Business Highlights and Second Quarter 2021 Financial Results
– Dosed First Patient in Phase 1/2 Clinical Trial of CFT7455, a novel IKZF1/3 Degrader, in Hematologic Malignancies; Data Expected in 2022 – – Received Orphan
About this update from C4 Therapeutics, Inc.
[{"type":"text","content":"– Dosed First Patient in Phase 1/2 Clinical Trial of CFT7455, a novel IKZF1/3 Degrader, in Hematologic Malignancies; Data Expected in 2022 – – Received Orphan Drug Designation for CFT7455 for the Treatment of Multiple Myeloma – – Initiated Investigational New Drug (IND)-Enabling Activities for CFT8919, A Selective Degrader of EGFR L858R – – Strengthened Balance Sheet with Public Offering Yielding Gross Proceeds of $180.8 Million; Cash, Cash Equivalents and Marketable Securities of $499M as of June 30, 2021 WATERTOWN, Mass., Aug. 11, 2021 (GLOBE NEWSWIRE) -- C4 Therapeutics, Inc. (C4T) (Nasdaq: CCCC), a clinical-stage biopharmaceutical company pioneering a new class of small-molecule medicines that selectively destroy disease-causing proteins through degradation, today reported business highlights and financial results for the second quarter of 2021. “In the second quarter, C4T made meaningful progress on our ambitious goals and became a clinical-stage company with the initiation of the CFT7455 Phase 1/2 trial, which has the potential to deliver improved outcomes for patients with hematologic malignancies,” said Andrew Hirsch, chief executive officer at C4 Therapeutics. “We believe C4T’s differentiated approach to targeted protein degradation can alter existing paradigms for cancer treatment. With a focus on advancing our research portfolio, we initiated IND-enabling activities for CFT8919, a potent and selective degrader of EGFR L858R, the driver mutation in more than a third of mutant EGFR lung cancer tumors. Backed by a strong balance sheet, following a successful follow-on offering, we remain on track to deliver four clinical-stage programs by the end of 2022.” SECOND QUARTER 2021 AND RECENT BUSINESS HIGHLIGHTS CFT7455: CFT7455 is an orally bioavailable MonoDAC™ degrader targeting IKZF1/3 for the treatment of multiple myeloma (MM) and non-Hodgkin’s lymphomas (NHL), including peripheral T-cell lymphoma and mantle cell lymphoma. Received Orphan Drug Designation: In August 2021, the Food and Drug Administration (FDA) granted Orphan Drug Designation to CFT7455 for the treatment of multiple myeloma.Dosed First Patient in Phase 1/2 Clinical Trial: In June 2021, C4T announced the dosing of the first patient in our Phase 1/2 clinical trial of CFT7455 in MM and NHL, including peripheral T-cell lymphoma and mantle cell lymphoma.Present...