CytomX Therapeutics Q4 2024: Contradictions in CX-2051 and CX-904 Development Plans

These are the key contradictions discussed in CytomX Therapeutics' latest 2024 Q4 earnings call, specifically including: CX-2051's dose escalation and patient selection, CX-904's trial collaboration and data presentation timeline, CX-2051 dose escalation expectations, and CRC focus for EpCAM ADC:



Clinical Pipeline Progress:
- CytomX's lead program, CX-2051, progressed into phase I clinical trials in Q2 2024, targeting colorectal cancer.
- The company expects initial Phase Ia data in CRC by the first half of 2025, with potential RECIST responses in a late-line patient population.
- This advancement is aimed at addressing a large unmet need in CRC, where current treatments have limited efficacy.

Cash Runway Extension:
- CytomX extended its cash runway to the second quarter of 2026 through strategic prioritization, achieving cash guidance without additional milestones.
- As of December 31, 2024, CytomX ended the year with $100.6 million in cash, compared to $174.5 million in 2023.
- This extension supports CytomX's ability to deliver on key clinical milestones.

Revenue and Collaborations:
- CytomX reported total revenue of $138.1 million in 2024, up from $101.2 million in 2023, driven by collaborations with BMS, Moderna, Astellas, and Regeneron.
- The increase was attributed to the progress and milestones achieved in various research and development partnerships.

Research and Development Focus:
- Research and development expenses increased by $5.7 million to $83.4 million in 2024, mainly due to a $5 million milestone payment for CX-2051's Phase I start.
- This increase reflects CytomX's commitment to advancing its clinical pipeline and partner collaborations.