CytomX Therapeutics (NASDAQ:CTMX) reported its full-year 2025 financial results and a strategic business update on March 16, 2026, highlighting the continued evolution of its Probody® platform.
The South San Francisco-based biotechnology firm announced positive Phase 1 data for Varseta-M, a masked antibody-drug conjugate (ADC), in patients with advanced colorectal cancer (CRC).
The results demonstrated a manageable safety profile and promising anti-tumor activity in a heavily pre-treated patient population.
Building on this momentum, CytomX has initiated a new clinical cohort evaluating Varseta-M in combination with bevacizumab, aiming to enhance treatment efficacy in late-stage CRC.
The company is currently in discussions with the FDA and targets mid-2026 for alignment on the design of a registrational trial.
Success in this regulatory milestone would transition CytomX into a late-stage clinical organization.
Additionally, the company expects to release combination data for CX-801, its interferon alpha-2b Probody cytokine, by the end of 2026.
Financially, CytomX reported 2025 revenue of $76.2 million, a decrease from the $138.1 million recognized in 2024.
This decline was primarily attributed to the timing of milestone payments from ongoing collaborations with industry partners such as Bristol Myers Squibb and Amgen.
Operating expenses for the year were $98.6 million, reflecting a disciplined focus on high-priority clinical assets.
The company ended 2025 with $137.1 million in cash, cash equivalents, and investments.
Management anticipates that this capital position provides a sufficient cash runway to fund operations through the second quarter of 2027.