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C4 Therapeutics Inc. (CCCC) stock has tumbled to a 52-week low, reaching a price level of just $2.69. This significant drop reflects a stark 72.21% decline over the past year, underscoring the challenges faced by the biotech firm. According to InvestingPro data, the stock’s RSI indicates oversold conditions, while analyst targets suggest potential upside with a high target of $50. Investors have been reacting to a series of setbacks, including clinical trial results and market conditions that have not favored the biopharmaceutical sector. The company, known for its research in targeted protein degradation, has seen its market value erode to $190.6 million as it struggles to regain its footing. Despite challenges, InvestingPro analysis shows the company maintains a strong current ratio of 6.31 and holds more cash than debt, though it’s currently burning through cash reserves. The stock appears undervalued based on InvestingPro’s Fair Value analysis.
In other recent news, C4 Therapeutics has reported significant progress in its clinical trials, particularly with its leading cancer drug, cemsidomide. The company released promising data from two early-stage trials, showcasing a 36% overall response rate at the highest dose in a trial for relapsed or refractory multiple myeloma when combined with dexamethasone. Additionally, a separate Phase 1 trial of cemsidomide as a single-agent therapy for Non-Hodgkin’s Lymphoma reported a 38% overall response rate across various doses. Analysts from Jefferies and Stifel have expressed optimism, maintaining buy ratings and highlighting the drug’s potential as best-in-class within the CelMOD category. C4 Therapeutics also outlined its anticipated milestones for 2025, including the completion of important phases in its clinical development programs for cemsidomide and CFT1946. The company expects to initiate further studies for multiple myeloma in early 2026 and open expansion cohorts for peripheral T-cell lymphoma in the second half of 2025. Furthermore, CFT1946 is progressing through its Phase 1 trial, with data expected in the second half of 2025. These developments underscore C4 Therapeutics’ ongoing efforts to advance its protein degradation therapies.
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