Business
C4 Therapeutics Reports Third Quarter 2023 Financial Results and Recent Business Highlights
Portfolio Decision to Prioritize Ongoing Phase 1/2 Trials of CFT7455, an IKZF1/3 Degrader, and CFT1946, a BRAF V600 Degrader CFT8634, a BRD9 Degrader, Will
About this update from C4 Therapeutics, Inc.
[{"type":"text","content":"Portfolio Decision to Prioritize Ongoing Phase 1/2 Trials of CFT7455, an IKZF1/3 Degrader, and CFT1946, a BRAF V600 Degrader CFT8634, a BRD9 Degrader, Will Not Advance in Synovial Sarcoma and SMARCB1-Null Tumors Due to Insufficient Single Agent Efficacy, Despite High Levels of BRD9 Degradation CFT7455 Phase 1 Dose Escalation Continues to Progress in Combination with Dexamethasone in Relapsed/Refractory Multiple Myeloma and as a Monotherapy in Non-Hodgkin’s Lymphoma; Completed Monotherapy Arm in Relapsed/Refractory Multiple Myeloma to be Presented at a Company-Sponsored Virtual Event on December 12, 2023 Cash, Cash Equivalents and Marketable Securities Total $246.4 million as of September 30, 2023; Expected to Provide Runway into 2H 2025 WATERTOWN, Mass., Nov. 01, 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 third quarter ended September 30, 2023, as well as recent business highlights. “Our team has progressed three clinical trials this year and generated the necessary information to enable data-based portfolio decisions, which include prioritizing the ongoing Phase 1/2 trials of CFT7455 and CFT1946,” said Andrew Hirsch, president and chief executive officer of C4 Therapeutics. “The CFT8634 Phase 1 dose escalation data demonstrated our ability to safely degrade a previously undruggable target, further validating our platform to design BiDAC degraders with desirable drug-like properties. Unfortunately, high levels of BRD9 degradation did not result in sufficient efficacy for highly refractory patients with synovial sarcoma and SMARCB1-null solid tumors treated with CFT8634 as a single agent; thus, the development strategy to seek registration of CFT8634 in these rare tumors is not viable for C4T. On behalf of our entire team, I would like to express my sincere thanks to all patients and their caregivers as well as clinicians involved in the CFT8634 trial.” THIRD QUARTER 2023 AND RECENT ACHIEVEMENTS CFT7455: CFT7455 is an oral degrader of IKZF1/3 for the potential treatment of relapsed refractory multiple myeloma (R/R MM) and relapsed refractory non-Hodgkin’s lymphomas (R/R ...