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In a recent transaction, Marcia Belvin, the Senior Vice President and Chief Scientific Officer of CytomX Therapeutics (NASDAQ:CTMX), sold 19,512 shares of the company’s common stock. The shares were sold at an average price of $0.599 each, amounting to a total value of $11,687. The stock, currently trading at $0.67, has shown strong momentum with a 13% gain over the past week, according to InvestingPro data, which indicates the company is currently undervalued. This sale was executed on March 18, 2025, according to a Form 4 filing with the Securities and Exchange Commission.
The sale was conducted to satisfy tax or other government withholding obligations related to the vesting of restricted stock units (RSUs). Following this transaction, Belvin retains ownership of 248,636 shares, which includes 158,958 RSUs.
In other recent news, CytomX Therapeutics Inc . reported a substantial revenue increase in its fourth-quarter 2024 financial results, with total revenue reaching $138.1 million, significantly surpassing the forecast of $12.24 million. This growth is attributed to successful collaborations with major partners such as Bristol Myers (NYSE:BMY) Squibb, Moderna (NASDAQ:MRNA), Astellas, and Regeneron (NASDAQ:REGN). The company’s cash runway has been extended to the second quarter of 2026, despite a decrease in cash balance from $174.5 million in 2023 to $100.6 million. CytomX has decided to discontinue its CX-9004 program with Amgen (NASDAQ:AMGN), which may impact future revenue streams. The company is optimistic about its clinical programs, with plans to release initial Phase 1a data for CX-2051 in the first half of 2025. Additionally, a combination study of CX-8001 with KEYTRUDA is anticipated to begin in 2025. Analyst firms have not provided recent upgrades or downgrades for CytomX, but the company’s strong revenue performance and strategic positioning continue to draw investor interest.
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