Gold prices cool after hitting over 2-week high on Fed independence fears
CytomX Therapeutics, Inc. (NASDAQ:CTMX), a biotechnology company currently trading at $0.67 and showing a significant 13% return over the past week, saw its Chief Financial Officer Christopher Ogden recently sell shares of the company’s common stock, according to a recent SEC filing. On March 18, Ogden sold 8,551 shares at an average price of $0.599 per share, totaling approximately $5,122. This transaction was made to cover tax or other governmental withholding obligations related to the vesting of restricted stock units. Following this sale, Ogden retains direct ownership of 201,026 shares, which includes 155,821 restricted stock units. According to InvestingPro analysis, CytomX holds more cash than debt on its balance sheet, though it’s currently trading below its Fair Value. InvestingPro subscribers have access to 11 additional key insights about CTMX, along with comprehensive financial metrics and expert analysis in the Pro Research Report.
In other recent news, CytomX Therapeutics Inc . reported impressive financial results for the fourth quarter of 2024, with total revenue reaching $138.1 million, significantly surpassing the forecast of $12.24 million. This substantial revenue increase is attributed to successful collaborations with major partners like Bristol Myers (NYSE:BMY) Squibb, Moderna (NASDAQ:MRNA), Astellas, and Regeneron (NASDAQ:REGN). Despite a decrease in cash balance from $174.5 million in 2023 to $100.6 million, the company extended its cash runway to the second quarter of 2026, ensuring financial stability. The company also announced the discontinuation of its CX-9004 program with Amgen (NASDAQ:AMGN), which may impact future revenue streams. Additionally, CytomX is focusing on its key clinical programs, CX-2051 and CX-8001, with plans to release initial Phase 1a data for CX-2051 in the first half of 2025. The company aims to initiate a combination study of CX-8001 with KEYTRUDA and present translational data in the latter half of 2025. Analysts noted the strong revenue performance and strategic positioning, reflecting investor confidence in the company’s future prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.