CytomX Therapeutics Q2 EPS USD -0.09

CytomX Therapeutics, Inc. (Nasdaq: CTMX) reported a net loss per share of -$0.09 for the second quarter of 2026, reflecting continued investment in its clinical-stage pipeline of PROBODY® therapeutics. The company’s Q2 2026 financial results showed a net loss of $18.2 million, or -$0.10 per share on a diluted basis, compared to net income of $23.5 million, or $0.27 per share, in the same period of 2025. The decline in profitability was primarily driven by increased research and development expenses and a reduction in revenue from completed collaborations.

Total revenue for the quarter was $10.3 million, a significant decrease from $50.9 million in Q1 2025, attributed to completion of performance obligations under prior collaborations with Bristol Myers Squibb and Amgen. Operating expenses for Q2 2026 totaled $29.9 million, up from $28.3 million in Q1 2025, with research and development expenses rising to $19.2 million due to manufacturing activities for Varseta-M (CX-2051).

Despite the net loss, CytomX ended the quarter with $346.7 million in cash, cash equivalents, and investments, a substantial increase from $137.1 million as of December 31, 2025. This growth was fueled by a $250 million equity offering in March 2026. The company anticipates this cash runway to extend through at least the second half of 2028.

On the clinical front, CytomX reported positive data from the Phase 1 dose expansion study of Varseta-M in advanced colorectal cancer (CRC), with enrollment of 40 patients completed. Additional data are expected in the second half of 2026 to inform monotherapy dose selection and potential registrational trials. The company also continues to advance its CX-801 program, with combination trials with KEYTRUDA® ongoing in advanced melanoma.

CytomX remains focused on leveraging its PROBODY therapeutic platform to develop targeted, conditionally activated biologics for oncology applications. The company’s strategic collaborations with Amgen, Regeneron, and Moderna continue to support its research and development efforts.