Press release
CytomX Therapeutics Reports Second Quarter 2023 Financial Results and Provides Business Update
- CX-904 (EGFRxCD3) initial Phase 1 dose escalation data anticipated first half of 2024 - - IND filings for CX-2051 (EpCAM-directed ADC) and CX-801
About this update from Cytomx Therapeutics, Inc.
[{"type":"text","content":"- CX-904 (EGFRxCD3) initial Phase 1 dose escalation data anticipated first half of 2024 - - IND filings for CX-2051 (EpCAM-directed ADC) and CX-801 (Interferon alpha-2b) anticipated in the fourth quarter of 2023 - - Management to hold conference call today at 5 p.m. EDT / 2 p.m. PDT - SOUTH SAN FRANCISCO, Calif., Aug. 08, 2023 (GLOBE NEWSWIRE) -- CytomX Therapeutics, Inc. (Nasdaq: CTMX), a leader in the field of conditionally activated, localized biologics, today reported second quarter 2023 financial results and provided a business update. “In recent months, we have continued to advance our innovative Probody® Therapeutic pipeline, while making significant progress with our partners across a wide range of programs and therapeutic modalities,” said Sean McCarthy, D.Phil., chief executive officer and chairman of CytomX Therapeutics. “With a recent strategic financing completed with long-term CytomX shareholder, BVF Partners, we have strengthened our financial position and extended our cash runway into the second half of 2025.” Continued Dr. McCarthy, “During Q2 we also further strengthened our management team with the addition of Dr. Wayne Chu as Chief Medical Officer and the advancement of Dawn Benson to Senior Vice President of Quality and Product Manufacturing. Wayne’s extensive experience in oncology drug development across multiple therapeutic formats will be invaluable as we optimize our clinical development strategy and execution across our broad pipeline. Dawn’s contributions to CytomX during her tenure to date, and her 25-year biotech career leading quality and manufacturing-related activities, uniquely qualify her for this expanded role. We are poised to enter a period of considerable opportunity for CytomX in which we expect to reach multiple clinical milestones for key pipeline programs over the next 12 to 18 months.” Second Quarter Business Highlights and Recent Developments Pipeline CX-904, T-cell-engaging bispecific (TCB) targeted to EGFRxCD3, progressing towards initiation of backfill cohorts by the end of 2023 with initial Phase 1 dose escalation data anticipated in the first half of 2024 – CX-904 is a conditionally activated TCB designed to target the epidermal growth factor receptor (EGFR) on cancer cells and the CD3 receptor on T cells within the tumor microenvironment. CX-904 is partnered with Amgen in a glob...