CytomX Therapeutics, Inc. has just announced its 2025 financial results and provided a business update, highlighting significant advancements in its pipeline programs and financial performance.
In terms of financials, CytomX ended 2025 with $137.1 million of cash, cash equivalents, and investments, marking an increase from the $100.6 million it held at the end of 2024. The total revenue for 2025 was $76.2 million, compared to $138.1 million in 2024. The company's total operating expenses for 2025 were $98.6 million, a decrease from $113.1 million in 2024. Research and development expenses decreased to $68.7 million in 2025 from $83.4 million in 2024, while general and administrative expenses increased slightly to $29.8 million from $29.7 million in 2024.
Moving on to the pipeline program updates, CytomX announced positive data from the phase 1 dose expansion study of Varseta-m in patients with advanced colorectal cancer (CRC). The company aims to align with the FDA in 2026 on a potential registrational study design for Varseta-m monotherapy in advanced CRC. Additionally, a phase 1 Varseta-m combination study with bevacizumab in CRC has been initiated, and a phase 1b/2 study in combination with bevacizumab and chemotherapy is expected to start by the end of 2026.
In the case of CX-801, the phase 1 study is progressing with a focus on advanced melanoma. The monotherapy dose escalation portion of the study has reached the fourth dose level, and it has been reported that CX-801 monotherapy has been well tolerated at dose levels exceeding the approved dose of unmasked ifnα2b. The company has also initiated the phase 1 dose escalation of CX-801 in combination with Keytruda® (pembrolizumab), with biomarker data from the monotherapy study reinforcing its mechanism of action.
Following these announcements, the company's shares moved 26.82%, and are now trading at a price of $5.39. If you want to know more, read the company's complete 8-K report here.
