CytomX Therapeutics (NASDAQ:CTMX) Announces Earnings Results, Beats Estimates By $0.04 EPS

Key Points

• CytomX Therapeutics beat quarterly expectations, reporting an EPS loss of ($0.10) versus estimates of ($0.14), and revenue of $10.26 million well above the $4.68 million consensus.
• Management highlighted encouraging clinical progress for Varseta‑M, including a confirmed overall response rate of roughly 20%–32% in late-line colorectal cancer and a median progression-free survival of about 7 months.
• The company ended Q1 with $346.7 million in cash and says its runway extends into at least H2 2028, supporting plans for a registrational CRC study and additional combination trials.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) announced its quarterly earnings results on Thursday. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.04, FiscalAI reports. The company had revenue of $10.26 million for the quarter, compared to analysts' expectations of $4.68 million. CytomX Therapeutics had a negative net margin of 166.40% and a negative return on equity of 54.37%.

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

• Varseta‑M20%–32% and median progression‑free survival of ~7 months, positioning it as a potentially company‑building, first‑in‑class EpCAM ADC.
• Enrollment in dose‑optimization is complete (40 patients at 8.6 mg/kg and 10 mg/kg; 113 total in the Phase I), and management is targeting a registrational late‑line CRC study in the first half of 2027 with a comprehensive Phase I update planned in H2 2026 to inform dose selection.
• Updated adverse‑event management (prophylactic loperamide and budesonide, adjusted ideal body weight dosing) appears to lower high‑grade diarrhea (initially ~10% in early optimization patients), but longer follow‑up and broader data are needed to confirm tolerability and impact on overall survival.
• CytomX is advancing Varseta‑M into combination studies—bevacizumab combo data expected by H1 2027 and a chemo (bevacizumab + 5‑FU/leucovorin) Phase I/II starting in H2 2026—and plans Phase I expansions in other EpCAM‑expressing tumors to pursue pan‑tumor potential.
• Following a March financing, CytomX ended Q1 with $346.7M in cash and expects runway into at least H2 2028, which management says is sufficient to advance Varseta‑M into a registrational study and support planned clinical milestones.

CytomX Therapeutics Trading Down 0.5%

NASDAQ CTMX traded down $0.02 on Friday, reaching $3.98. 5,054,790 shares of the company were exchanged, compared to its average volume of 3,705,994. CytomX Therapeutics has a fifty-two week low of $0.91 and a fifty-two week high of $8.21. The business's fifty day moving average price is $4.66 and its 200 day moving average price is $4.53. The stock has a market capitalization of $677.36 million, a P/E ratio of -9.71 and a beta of 2.18.

Insider Transactions at CytomX Therapeutics

In related news, CEO Sean A. Mccarthy sold 118,969 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $6.42, for a total transaction of $763,780.98. Following the transaction, the chief executive officer owned 1,078,922 shares of the company's stock, valued at approximately $6,926,679.24. This represents a 9.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Yu-Waye Chu sold 21,279 shares of the company's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $6.42, for a total value of $136,611.18. Following the sale, the insider owned 189,446 shares in the company, valued at approximately $1,216,243.32. This trade represents a 10.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 191,063 shares of company stock worth $1,226,624 in the last 90 days. Insiders own 6.60% of the company's stock.

Institutional Trading of CytomX Therapeutics

A number of large investors have recently made changes to their positions in the company. Orbimed Advisors LLC acquired a new stake in CytomX Therapeutics during the 2nd quarter worth approximately $19,208,000. Commodore Capital LP acquired a new stake in CytomX Therapeutics during the 2nd quarter worth approximately $17,462,000. Perceptive Advisors LLC acquired a new stake in CytomX Therapeutics during the 2nd quarter worth approximately $15,876,000. State Street Corp lifted its position in CytomX Therapeutics by 697.1% during the 4th quarter. State Street Corp now owns 5,140,931 shares of the biotechnology company's stock worth $21,900,000 after acquiring an additional 4,495,949 shares during the period. Finally, ADAR1 Capital Management LLC lifted its holdings in shares of CytomX Therapeutics by 31.3% in the 3rd quarter. ADAR1 Capital Management LLC now owns 4,045,414 shares of the biotechnology company's stock valued at $12,905,000 after buying an additional 964,000 shares during the period. 67.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Barclays upped their price target on CytomX Therapeutics from $10.00 to $16.00 and gave the stock an "overweight" rating in a research note on Thursday, March 19th. JPMorgan Chase & Co. upgraded CytomX Therapeutics from a "neutral" rating to an "overweight" rating and raised their price target for the company from $7.00 to $12.00 in a research note on Monday, March 16th. HC Wainwright raised their price target on CytomX Therapeutics from $10.00 to $17.00 and gave the company a "buy" rating in a research note on Monday, March 16th. Oppenheimer restated an "outperform" rating and set a $12.00 price target on shares of CytomX Therapeutics in a research note on Monday, March 16th. Finally, Cantor Fitzgerald lifted their target price on CytomX Therapeutics from $6.00 to $10.00 and gave the company an "overweight" rating in a research note on Wednesday, February 4th. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $13.44.

About CytomX Therapeutics

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.

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