CytomX Q2 Revenue Plunges to $1.42M, Missing Estimates by 88%
CTMX sits 96% above its 52-week low of $1.72.
Summary
CytomX reported Q2 revenue of just $1.42 million, an 88% miss versus the $12.31 million consensus. The shortfall stems from completed BMS obligations and reduced research activity under the Astellas collaboration. R&D and G&A costs rose, driven by Varseta-M manufacturing and higher personnel and consulting expenses. Despite the top-line miss, the company extended its cash runway to at least H2 2028, supported by the recent Regeneron deal. A Phase 1 update for Varseta-M in advanced CRC is expected by end-2026, with a registrational study planned for 1H 2027.
At the time of this announcement, CTMX was trading at $3.38 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $733.7M. The 52-week trading range was $1.72 to $8.21. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.