C4 Therapeutics, Inc. · NASDAQ:CCCC
C4 Therapeutics — Investor Presentation (April 2026)
26 slides from C4 Therapeutics's investor presentation, Apr 9, 2026
Slide 1: Protein degraded. Disease targeted. Lives transformed.
Protein degraded. Disease targeted. Lives transformed. April 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: 2026 is an Important Year for Cemsidomide
2026 is an Important Year for Cemsidomide as We Build Upon Recent Progress © 2026 C4 Therapeutics, Inc. Initiated Phase 2 MOMENTUM trial in February 2026 and Phase 1b trial in combination with elranatamab1 in March 2026 Advance Registrational development with Phase 2 MOMENTUM trial and Phase 1b tria
Slide 6: Focused Pipeline Advancing Clinical Oncology Degraders and a New Discovery Strategy
Focused Pipeline Advancing Clinical Oncology Degraders and a New Discovery Strategy in Inflammation, Neuroinflammation & Neurodegeneration (INN) Diseases 6© 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 7: Strategic Platform Collaborations Expand Potential Reach of C4T TPD Medicines
Strategic Platform Collaborations Expand Potential Reach of C4T TPD Medicines 7© 2026 C4 Therapeutics, Inc. 1. Earned and received preclinical milestones in Q1 2025 2. Delivered development candidates to Biogen in Q1 2024 and Q3 2024. In Q3 2025, the IRAK4 degrader, BIIB142, entered Phase 1 clinical
Slide 8: Cemsidomide IKZF1/3 Degrader Multiple Myeloma
Cemsidomide IKZF1/3 Degrader Multiple Myeloma
Slide 9: Cemsidomide is Positioned for Success in Multiple Myeloma
Cemsidomide is Positioned for Success in Multiple Myeloma 9© 2026 C4 Therapeutics, Inc. Efficient cemsidomide registrational development path with the potential for two accelerated approvals is differentiated from other IKZF1/3 degraders and focused on where the landscape is evolving Cemsidomide has
Slide 10: 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 10 Physiological Functions: • IKZF1/3 directly regulate the activity of IRF4, another tra
Slide 11: 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 11© 2026 C4 Therapeutics, Inc. bortez/carfilz + pom + dex BCMA CAR-T ide-cel / cilta-cel Dara + len/pom + dex PI + IKZF1/3 Degrader doublets for frail patients (D)KRd (D
Slide 12: First-generation IKZF1/3 Degraders Have Limitations
First-generation IKZF1/3 Degraders Have Limitations Supporting the Need for Next-generation IKZF1/3 Degraders 12© 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. Next-gen IK
Slide 13: Data Support Cemsidomide as a Potential Best-in-Class Next-generation 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 13© 2026 C4 Therapeutics, Inc. Heavily Pre-treated Patient Population Representative of current multi-refractory patients • ~75% of cemsidomide treated
Slide 14: Cemsidomide Has the Potential to Capture a Valuable Portion of the Large Global MM Market
14© 2026 C4 Therapeutics, Inc. Cemsidomide Has the Potential to Capture a Valuable Portion of the Large Global Multiple Myeloma Market Sources: 1. Evaluate Pharma (8/14/2025) 2. Health Advances (2022), ClearView (2023), and C4T analysis Dexamethasone (dex) 2 Total global projected MM market is $46B
Slide 15: Cemsidomide + Dexamethasone Could Address a Large and Growing 4L+ Patient Population
Cemsidomide + Dexamethasone Has the Potential to Address a Large and Growing 4L+ Patient Population with a High Unmet Need © 2026 C4 Therapeutics, Inc. Large Market in a Growing Patient Population with High Unmet Needs Majority of MM Patients Continue to Progress Despite Novel Treatment Options: • D
Slide 16: 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 17: Cemsidomide Initial Development Plan Provides Efficient Path to Registration
Cemsidomide Initial Development Plan Provides Efficient Path to Registration © 2026 C4 Therapeutics, Inc. A single, randomized controlled Phase 3 study would be used to support accelerated approval in 2L+ and full approval in 2L+ and 4L+ based on a time-to-event endpoint 1. Pfizer supplying elranata
Slide 18: Phase 2 MOMENTUM Trial of Cemsidomide + Dex in 4L+ MM Now Enrolling
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) 18 Endpoi
Slide 19: Phase 1b Trial Evaluating 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 20: Cemsidomide Has a Potential Best-in-Class Profile Across Multiple Lines of Treatment
Cemsidomide Has a Potential Best-in-Class Profile To Be Used Across Multiple Lines of Treatment © 2026 C4 Therapeutics, Inc. • Orally bioavailable degrader with differentiated safety & tolerability profile with class-leading anti-myeloma activity ✓ 53% ORR at the highest dose level (100 µg) and 40%
Slide 21: Discovery: Inflammation, Neuroinflammation, & Neurodegeneration (INN)
Discovery Inflammation, Neuroinflammation, & Neurodegeneration (INN)
Slide 22: 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 22© 2026 C4 Therapeutics, Inc. Targeted Protein Degradation (TPD); Central nervous system (CNS) Leveraging C4T’s success
Slide 23: 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 24: 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 24 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 25: 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 26: Multiple Strategic Milestones Expected to Advance Cemsidomide and Discovery Strategy
Multiple Strategic Milestones Expected to Advance Cemsidomide as a Potential Best-in-Class IKZF1/3 Degrader and Discovery Strategy Focused on Novel Targets in Clinically Validated Pathways 26© 2026 C4 Therapeutics, Inc. 2026 2027 - 2028 Cemsi + dex (4L+) ✓ Q1: Initiate the Phase 2 MOMENTUM trial of