| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 6.64 | 8.0% | 2.8% |
| Total Income | 6.64 | 8.0% | 2.8% |
| Expenditure | 33.06 | 2.6% | 5.4% |
| PBT | — | ||
| Net Profit | -23.64 | 5.9% | 9.2% |
| OPM | — | ||
| NPM | — | ||
| EPS | -0.18 | 10.0% | 51.4% |
C4 Therapeutics Reports Q2 2026 Financial Results and Business Highlights
11 Aug 2026 · 11 Aug, 4:47 pm
Summary
C4 Therapeutics reported second quarter 2026 revenue of $6.6 million, a modest increase year-over-year, driven by the new Roche DAC collaboration. The company saw a reduction in both R&D and G&A expenses, leading to an improved net loss of $23.6 million for the quarter, down from $26.0 million in the prior year. The company's cash position strengthened to $300.4 million, supported by an upfront payment from Roche and proceeds from its ATM program, with management expecting current cash to fund operations through the end of 2028.
Key Highlights
- 1
C4 Therapeutics reported total revenue of $6.6 million for the second quarter of 2026, a slight increase from $6.5 million in the second quarter of 2025.
- 2
Research and Development (R&D) expense for Q2 2026 was $24.5 million, down from $26.2 million in Q2 2025, primarily due to lower personnel costs.
- 3
General and Administrative (G&A) expense for Q2 2026 was $8.6 million, a decrease from $8.8 million in Q2 2025.
- 4
The net loss for the second quarter of 2026 was $23.6 million, an improvement from a net loss of $26.0 million in the second quarter of 2025.
- 5
Net loss per share for Q2 2026 was $0.18, compared to $0.37 for Q2 2025.
- 6
Cash, cash equivalents, and marketable securities stood at $300.4 million as of June 30, 2026, an increase from $297.1 million at the end of 2025.
- 7
C4 Therapeutics received an upfront payment of $20 million from Roche in April 2026 for a new collaboration agreement.
Management Comments
Andrew Hirsch
The first half of 2026 was a period of execution for cemsidomide, our next-generation IKZF1/3 degrader, and our clinical development plan. At the EHA Congress in June, we presented clinical data that further supported cemsidomide’s differentiated and potential best-in-class profile for the treatment of relapsed refractory multiple myeloma. In addition, insights from our June KOL webinar underscored the importance of IKZF1/3 degradation as a foundational mechanism in multiple myeloma and highlighted the potential for next-generation IKZF1/3 degraders to become a cornerstone therapy across the disease continuum. As we enter the second half of the year, we remain focused on advancing the Phase 2 MOMENTUM trial, the Phase 1b combination trial with elranatamab and start-up activities for our additional Phase 1b combination trial with approved standard-of-care multiple myeloma therapies. Together, these studies are expected to generate clinical milestones in 2027 and beyond and will support our vision of establishing cemsidomide as a potential backbone therapy for combination regimens in multiple myeloma.
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