Business
C4 Therapeutics Reports Second Quarter 2023 Financial Results and Recent Business Highlights
Established Exclusive Licensing Agreement for CFT8919, an EGFR L858R BiDAC™ Degrader, with Betta Pharmaceuticals in Greater China for NSCLC; U.S. IND Cleared
About this update from C4 Therapeutics, Inc.
[{"type":"text","content":"Established Exclusive Licensing Agreement for CFT8919, an EGFR L858R BiDAC™ Degrader, with Betta Pharmaceuticals in Greater China for NSCLC; U.S. IND Cleared Ongoing Phase 1/2 Clinical Trials of CFT7455, an IKZF1/3 MonoDAC™ Degrader, and CFT8634, a BRD9 BiDAC Degrader, Continue to Progress; Phase 1 Dose Escalation Data Expected 2H 2023 Strengthened Leadership Team with Appointments of Len Reyno, M.D., as Chief Medical Officer, and Mary Christian, Pharm.D., as Senior Vice President, Regulatory Cash, Cash Equivalents and Marketable Securities Total $286.7 million as of June 30, 2023; Expected to Provide Runway into 2H 2025 WATERTOWN, Mass., Aug. 08, 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 second quarter ended June 30, 2023, as well as recent business highlights. “In the first half of 2023, we achieved important objectives to support the continued advancement of our degrader medicine portfolio. We completed an exclusive licensing agreement with Betta Pharmaceuticals to develop CFT8919, our EGFR-L858R degrader, in Greater China, strengthened our leadership team, and progressed three clinical studies across multiple cancer indications,” said Andrew Hirsch, president and chief executive officer of C4 Therapeutics. “In the second half of the year, we expect to share clinical updates from the dose escalation portion of the ongoing Phase 1/2 trials for our two lead programs, CFT7455 in multiple myeloma and CFT8634 in synovial sarcoma and SMARCB1-null cancers.” SECOND QUARTER 2023 AND RECENT ACHIEVEMENTS 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.Presented New Preclinical Data at the International Conference on Malignant Lymphoma (ICML): In June 2023, C4T presented preclinical CFT7455 data in NHL demonstrating potent ant...