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CytomX Therapeutics, Inc. (NASDAQ:CTMX), a $307 million market cap biotechnology company with a strong financial health score according to InvestingPro, announced Wednesday an update regarding its ongoing Phase 1 study of CX-2051. The company, which maintains more cash than debt and a healthy current ratio of 4.2, reported that dose expansion cohorts at 7.2 mg/kg, 8.6 mg/kg, and 10 mg/kg—administered every three weeks—have each enrolled approximately 20 patients, as planned.
According to the statement, a single Grade 5 treatment-related acute kidney injury occurred in a patient with a complex medical history, including having a solitary kidney. The event, which was believed to be secondary to nausea, vomiting, and diarrhea, was reported to the company on July 11. CytomX Therapeutics subsequently notified the U.S. Food and Drug Administration (FDA) on July 18, in line with regulatory requirements.
The CTMX-2051-101 Safety Review Committee convened on July 14 and supported the continued execution and enrollment of the study. The company stated that the clinical trial remains ongoing, with a Phase 1 data update expected by the first quarter of 2026.
This information is based on a press release statement included in a filing with the Securities and Exchange Commission.
In other recent news, CytomX Therapeutics reported its second-quarter 2025 earnings, highlighting a decline in revenue and a significant miss on earnings per share (EPS) forecasts. This financial report has raised concerns among investors, as reflected in the market’s reaction. The company remains committed to its focus on developing innovative cancer treatments despite these financial setbacks. These recent developments have drawn attention from various analysts and investors. The earnings results and the subsequent reaction underscore the challenges CytomX faces in meeting financial expectations. While the company continues its efforts in the field of cancer treatment, the missed forecasts have prompted a closer look at its financial strategies. Investors are keenly observing how CytomX will address these challenges moving forward. These developments are crucial for stakeholders monitoring the company’s progress.
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