C4 Therapeutics, Inc. · NASDAQ:CCCC
C4 Therapeutics — Investor Presentation (May 2026)
23 slides from C4 Therapeutics's investor presentation, May 12, 2026
Slide 1: Protein degraded. Disease targeted. Lives transformed.
Protein degraded. Disease targeted. Lives transformed. May 2026
Slide 2: Forward-looking Statements and Intellectual Property
Forward-looking Statements and Intellectual Property 2 FORWARD-LOOKING STATEMENTS The following presentation contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as “anticipate,” “believe,
Slide 3: Advancing Differentiated TPD Medicines and Building a Sustainable Pipeline of High-value Degraders
Advancing Differentiated TPD Medicines and Building a Sustainable Pipeline of High-value Degraders To Achieve Our Vision 3© 2026 C4 Therapeutics, Inc. BEST-IN-CLASS AND FIRST-IN-CLASS DEGRADERS. VALIDATED PATHWAYS. LARGE MARKET OPPORTUNITIES Multiple myeloma (MM); Non-small cell lung cancer (NSCLC);
Slide 4: C4T is Focused on Advancing Potential Best-in-Class And First-in-Class Degraders
C4T is Focused on Advancing Potential Best-in-Class And First-in-Class Degraders Across Clinical Oncology Portfolio and INN Discovery Strategy © 2026 C4 Therapeutics, Inc. Advance potential best- in-class and first-in-class degraders • Enroll 2 clinical trials with cemsidomide to address 2L+ and 4L+
Slide 5: Focused Pipeline Advancing Clinical Oncology Degraders and a New Discovery Strategy in INN
Focused Pipeline Advancing Clinical Oncology Degraders and a New Discovery Strategy in Inflammation, Neuroinflammation & Neurodegeneration (INN) Diseases 5© 2026 C4 Therapeutics, Inc. INN DISCOVERY Discovery Novel targets in pathways of: -IL-23/IL-17 -Type 1 IFN -MAPK, PI3K/AKT, NF-kB INN Inflammati
Slide 6: Strategic Platform Collaborations Expand Potential Reach of C4T TPD Medicines
Strategic Platform Collaborations Expand Potential Reach of C4T TPD Medicines 6© 2026 C4 Therapeutics, Inc. 1. Earned and received preclinical milestones in Q1 2025 2. Delivered development candidates to Biogen in Q1 2025 and Q3 2024. In Q3 2025, the IRAK4 degrader, BIIB142, entered Phase 1 clinical
Slide 7: Cemsidomide IKZF1/3 Degrader Multiple Myeloma
Cemsidomide IKZF1/3 Degrader Multiple Myeloma
Slide 8: Cemsidomide is Positioned for Success in Multiple Myeloma
Cemsidomide is Positioned for Success in Multiple Myeloma 8© 2026 C4 Therapeutics, Inc. Two ongoing trials with a third trial expected to start next year to support cemsidomide’s potential to become a foundational MM treatment Cemsidomide has a potential best-in-class profile among other IKZF1/3 deg
Slide 9: IKZF1/3 are Transcription Factors That are Central Drivers of Multiple Myeloma
IKZF1/3 are Transcription Factors That are Central Drivers of Multiple Myeloma Development and Progression © 2026 C4 Therapeutics, Inc. Multiple myeloma (MM) IMiDs® and CELMoDs® are registered trademarks of BMS 9 Physiological Functions: • IKZF1/3 directly regulate the activity of IRF4, another tran
Slide 10: First-generation IKZF1/3 Degraders (IMiDs) Have Limitations
First-generation IKZF1/3 Degraders (IMiDs®) Have Limitations Supporting the Need for Next-generation IKZF1/3 Degraders 10© 2026 C4 Therapeutics, Inc. High to moderate renal clearance decreasing tolerability ~50% of MM patients suffer from renal impairment1 First-gen IKZF1/3 degraders’ potency vs. Ne
Slide 11: Data from Phase 1 Trial Support Cemsidomide as Potential Best-in-Class IKZF1/3 Degrader
Data from Phase 1 Trial Support Cemsidomide as a Potential Best-in-Class Next-generation IKZF1/3 Degrader for Use Across Multiple Lines of Treatment 11© 2026 C4 Therapeutics, Inc. Heavily Pre-treated Patient Population Representative of current multi-refractory patients • ~75% of cemsidomide treated
Slide 12: IKZF1/3 Degraders Are Foundational Therapies Across Multiple Lines of Treatment
Based on the Mechanism of Action, IKZF1/3 Degraders Are Foundational Therapies Across Multiple Lines of Treatment and Combinations 12 © 2026 C4 Therapeutics, Inc. ~11K MM patient deaths expected in the U.S. in 20264 ~40% of MM patients are not surviving beyond five years, despite recent treatment ad
Slide 13: Cemsidomide Has the Potential to Be a Foundational Treatment Across Multiple Lines
Cemsidomide Has the Potential to Be a Foundational Treatment Across Multiple Lines of Multiple Myeloma 13© 2026 C4 Therapeutics, Inc. Late-line Opportunity Combination with dexamethasone R A T I O N A L E • No other next-generation IKZF1/3 degrader being developed for this line of treatment • Unmet
Slide 14: Cemsidomide in Combination with Elranatamab Has Potential to Provide Additional Benefit
BCMA-binding arm CD3-binding arm Myeloma cell T cell CD3 Enhanced myeloma cell killing with elranatamab + cemsidomide Elranatamab BCMA Elranatamab + cemsidomide + dexamethasone may provide additional benefit to patients with RRMM based on the complementary mechanisms of action CRN Based on Complemen
Slide 15: Early IKZF1/3 Degrader + BiTE Data Provide Proof of Concept for Cemsidomide
0% 20% 40% 60% 80% 100% ORR Range >CR Range Early IKZF1/3 Degrader + BiTE Data Provide Proof of Concept for Cemsidomide with Opportunity For Improvement © 2026 C4 Therapeutics, Inc. Currently CAR-Ts demonstrate higher ORR and >CR than BiTEs alone1 Early data from IKZF1/3 degrader + BiTE combo suppor
Slide 16: Phase 2 MOMENTUM Trial of Cemsidomide + Dex in 4L+ MM Now Enrolling Patients
Phase 2 MOMENTUM Trial of Cemsidomide + Dex in 4L+ MM Now Enrolling Patients © 2026 C4 Therapeutics, Inc. Dexamethasone (dex); Overall response rate (ORR); Fourth line (4L); Recommended Phase 2 dose (RP2D); Overall response (ORR); International Myeloma Working Group (IMWG); Once daily (QD) 16 Endpoi
Slide 17: Phase 1b Trial is Evaluating Safety and Tolerability of Cemsidomide With Elranatamab
Phase 1b Trial is Evaluating Safety and Tolerability of Cemsidomide in Combination With Elranatamab, With Data From All Cohorts Expected in Mid-2027 © 2026 C4 Therapeutics, Inc. 1. Pfizer will supply elranatamab (ELREXFIO®), a B-cell maturation antigen CD3 targeted bispecific antibody, to C4T for it
Slide 18: Discovery Inflammation, Neuroinflammation, & Neurodegeneration (INN)
Discovery Inflammation, Neuroinflammation, & Neurodegeneration (INN)
Slide 19: New Discovery Strategy Focused on Inflammation, Neuroinflammation & Neurodegeneration
New Discovery Strategy Focused on Inflammation, Neuroinflammation & Neurodegeneration (INN) with First-in-Class Potential in Clinically Validated Pathways Uniquely Suited for TPD 19© 2026 C4 Therapeutics, Inc. Targeted Protein Degradation (TPD); Central nervous system (CNS) Leveraging C4T’s success
Slide 20: Focused on INN to Address High Unmet Needs in a Large Patient Population
Focused on Inflammation, Neuroinflammation & Neurodegeneration (INN) to Address High Unmet Needs in a Large Patient Population with a Clear TPD Advantage © 2026 C4 Therapeutics, Inc. Central nervous system (CNS), Pharmacodynamic (PD); Targeted Protein Degradation (TPD); Mechanism of action (MOA) 1.
Slide 21: Potential for Degraders To Be the Optimal Therapeutic Modality for CNS Diseases
Potential for Degraders To Be the Optimal Therapeutic Modality for CNS Diseases Over Inhibitors 21 Theoretical Inhibitor and Degrader Brain PK Curves for Molecules With Similar Efficacy* (Illustrative graphic) *For target proteins with a long resynthesis rate Lower exposure levels for highly catalyt
Slide 22: Pursuing Targets in Validated Pathways With Application to a Broad Set of Indications
Pursuing Targets in Validated Pathways With Application to a Broad Set of Indications © 2026 C4 Therapeutics, Inc. *Highlights indications that are central nervous system diseases Image 1: Zheng M-Y, Luo L-Z Int. J. Mol. Sci. 2025; Image 2: Lukhele S, et al. Semin Immunol 2019; Image 3: Liu T, et al
Slide 23: C4T is Focused on Advancing Potential Best-in-Class And First-in-Class Degraders
C4T is Focused on Advancing Potential Best-in-Class And First-in-Class Degraders Across Clinical Oncology Portfolio and INN Discovery Strategy © 2026 C4 Therapeutics, Inc. Advance potential best-in-class and first-in-class degraders • Enroll 2 clinical trials with cemsidomide to address 2L+ and 4L+