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In a recent transaction, Yu-Waye Chu, the Chief Medical (TASE:BLWV) Officer of CytomX Therapeutics, Inc. (NASDAQ:CTMX), sold 4,025 shares of the company’s common stock. The sale, which took place on March 18, 2025, was executed at a price of $0.599 per share, amounting to a total transaction value of approximately $2,410. This share sale was conducted to meet tax or other government withholding obligations related to the vesting of restricted stock units. Following this transaction, Chu holds 135,725 shares, including 131,000 restricted stock units. The company maintains a strong balance sheet with more cash than debt, and analysts have recently revised their earnings expectations upward. InvestingPro subscribers can access 11 additional key insights about CTMX, including detailed Fair Value analysis and comprehensive financial health scores.
In other recent news, CytomX Therapeutics Inc . reported a notable financial performance for the fourth quarter of 2024, with revenue reaching $138.1 million, significantly surpassing the forecasted $12.24 million. This increase is attributed to successful collaborations with major partners like Bristol Myers (NYSE:BMY) Squibb, Moderna (NASDAQ:MRNA), Astellas, and Regeneron (NASDAQ:REGN). Despite the company’s cash balance decreasing from $174.5 million in 2023 to $100.6 million, CytomX has managed to extend its cash runway to the second quarter of 2026. Additionally, CytomX has decided to discontinue its CX-9004 program with Amgen (NASDAQ:AMGN), while other key clinical programs, CX-2051 and CX-8001, are progressing well. The company is optimistic about its future and plans to release initial Phase 1a data for CX-2051 in the first half of 2025. Analysts from Jefferies and Piper Sandler engaged with the company during the earnings call, focusing on the clinical progress of their programs. CytomX’s recent developments reflect its strategic positioning in the oncology market and its commitment to advancing its therapeutic pipeline.
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