CytomX Therapeutics (NASDAQ:CTMX) Posts Quarterly Earnings Results

CytomX Therapeutics (NASDAQ:CTMX) posted its quarterly earnings results on Thursday. The biotechnology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01), Zacks reports. The company had revenue of $1.42 million during the quarter, compared to the consensus estimate of $12.39 million. CytomX Therapeutics had a negative return on equity of 45.40% and a negative net margin of 435.21%.

Here are the key takeaways from CytomX Therapeutics’ conference call:

• Varseta-M dose-optimization enrollment is complete, with a 113-patient Phase I study ongoing; CytomX expects to report broader monotherapy data, including initial progression-free and overall-survival information, by year-end 2026 and start a potential registrational study in the first half of 2027.
• The company is expanding Varseta-M into earlier-line colorectal cancer through bevacizumab and 5-FU/leucovorin combinations, with initial combination data expected in the first half of 2027 and a goal of replacing irinotecan in second-line treatment.
• CytomX is broadening Varseta-M into gastric/GEJ, pancreatic, and biliary tract cancers through new Phase I expansion cohorts, potentially positioning the drug as a pan-gastrointestinal ADC.
• CytomX received a $37 million Regeneron payment in July for two additional collaboration targets, taking pro forma cash to approximately $367 million; management projects cash runway into at least the second half of 2028.
• Diarrhea remains a key development risk for Varseta-M, particularly if Grade 3 rates trend toward the high end of the company’s 10%–20% risk-benefit range, which could affect its movement into earlier treatment lines despite reported improvement with loperamide and budesonide prophylaxis.

CytomX Therapeutics Stock Up 2.7%

Shares of NASDAQ CTMX traded up $0.09 during mid-day trading on Friday, reaching $3.46. 2,461,314 shares of the company were exchanged, compared to its average volume of 3,128,085. CytomX Therapeutics has a 52 week low of $1.72 and a 52 week high of $8.21. The stock has a market capitalization of $588.86 million, a PE ratio of -6.92 and a beta of 2.12. The company’s 50 day moving average price is $3.35 and its 200 day moving average price is $4.27.

Institutional Investors Weigh In On CytomX Therapeutics

A number of large investors have recently added to or reduced their stakes in CTMX. Wells Fargo & Company MN lifted its stake in CytomX Therapeutics by 83.2% during the fourth quarter. Wells Fargo & Company MN now owns 6,605 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 3,000 shares during the last quarter. Invesco Ltd. purchased a new position in shares of CytomX Therapeutics during the 2nd quarter valued at about $32,000. Goldman Sachs Group Inc. bought a new stake in CytomX Therapeutics in the 1st quarter worth approximately $39,000. JPMorgan Chase & Co. boosted its stake in CytomX Therapeutics by 5,648.0% in the third quarter. JPMorgan Chase & Co. now owns 16,152 shares of the biotechnology company’s stock worth $52,000 after buying an additional 15,871 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new position in CytomX Therapeutics during the fourth quarter valued at approximately $52,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CTMX shares. Wall Street Zen raised CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Wolfe Research assumed coverage on shares of CytomX Therapeutics in a report on Tuesday, May 19th. They issued an “outperform” rating and a $6.00 price target on the stock. Zacks Research upgraded shares of CytomX Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of CytomX Therapeutics in a report on Tuesday, June 16th. Finally, HC Wainwright lowered their target price on shares of CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $12.10.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.

At the core of CytomX’s pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.