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CCCC

C4 Therapeutics, Inc.

CCCC

C4 Therapeutics, Inc. • NASDAQ
$2.71 ▲ 1.12% (+0.03)
Market Cap $192.89 M
52w High $5.10
52w Low $1.08
Dividend Yield 0%
P/E -1.62
Volume 715.66K
Outstanding Shares 71.18M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $11.23M ▲ $45.642M ▲ $-32.166M ▼ -286.429% ▲ $-0.44 ▼ $-31.706M ▼
Q2-2025 $6.463M ▼ $34.964M ▼ $-26.02M ▲ -402.599% ▼ $-0.37 $-27.886M ▲
Q1-2025 $7.238M ▲ $36.402M ▼ $-26.322M ▲ -363.664% ▲ $-0.37 ▲ $-28.708M ▲
Q4-2024 $5.177M ▼ $41.12M ▼ $-34.573M ▼ -667.819% ▼ $-0.49 ▼ $-32.676M ▼
Q3-2024 $15.362M $41.55M $-24.666M -160.565% $-0.35 $-22.61M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $191.884M ▼ $265.488M ▼ $111.08M ▼ $154.408M ▼
Q2-2025 $214.554M ▼ $296.527M ▼ $122.463M ▼ $174.064M ▼
Q1-2025 $215.087M ▼ $319.524M ▼ $124.384M ▼ $195.14M ▼
Q4-2024 $244.904M ▼ $349.602M ▼ $133.616M ▲ $215.986M ▼
Q3-2024 $255.641M $376.06M $133.404M $242.656M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-32.166M ▼ $-31.207M ▼ $4.086M ▼ $7.773M ▲ $-19.348M ▼ $-31.618M ▼
Q2-2025 $-26.02M ▲ $-12.057M ▲ $38.921M ▲ $0 ▲ $26.864M ▲ $-12.242M ▲
Q1-2025 $-26.322M ▲ $-33.285M ▼ $29.125M ▲ $-46K ▼ $-4.206M ▼ $-33.285M ▼
Q4-2024 $-34.573M ▼ $-17.932M ▲ $13.67M ▲ $112K ▼ $-4.15M ▲ $-17.928M ▲
Q3-2024 $-24.666M $-24.133M $162K $10.506M $-13.465M $-24.12M

Five-Year Company Overview

Income Statement

Income Statement C4 Therapeutics is still in the classic early biotech phase: very little revenue and steady, meaningful losses driven mainly by research and development. The small amount of revenue looks more like collaboration or milestone income than sales of products. Losses have been consistent over the last several years, with a slight improvement recently but not a structural change yet. In plain terms, this is a company spending heavily to build future medicines, long before it can earn regular product income. Profitability is not in sight until and unless its drugs succeed in the clinic and reach the market.

Balance Sheet

Balance Sheet The balance sheet shows a research-stage biotech with a reasonable asset base, modest debt, and a shrinking but still meaningful equity cushion. Cash levels have moved up and down as the company has raised funds and then spent them on trials and platform development. Debt is present but not dominant, which reduces financial strain compared with a highly leveraged company. Over time, equity has been drawn down by ongoing losses, which is normal for a young biotech but does mean that future funding—through partnerships, equity raises, or other sources—will likely be important if development timelines extend.

Cash Flow

Cash Flow Cash flow is consistently negative, reflecting ongoing investment in trials, people, and technology rather than any operational cash generation. Free cash flow closely tracks operating cash flow, since capital spending on equipment and facilities is relatively light. The company is essentially using its cash reserves to fund clinical progress. Management indicates that the current cash runway should last into the latter part of the decade, giving some breathing room to reach several key clinical readouts, but the underlying pattern is still one of steady cash burn that will need to be managed carefully as programs advance or expand.

Competitive Edge

Competitive Edge C4 Therapeutics operates in a cutting-edge but increasingly crowded niche: targeted protein degradation. It is one of a small group of specialized players pursuing this approach, alongside better-known peers and traditional oncology drug developers. Its main competitive strengths are its proprietary TORPEDO platform, its emphasis on convenient oral drugs, and a growing track record of moving multiple programs into the clinic. Strategic collaborations with large pharmaceutical companies add both validation and access to external expertise. The main competitive challenges are its smaller scale, the presence of strong rivals in the same modality, and the need to show clear clinical advantages over both existing therapies and other degraders.

Innovation and R&D

Innovation and R&D Innovation is the core of the C4 story. The TORPEDO platform is designed to systematically engineer molecules that do not just block disease-causing proteins but remove them entirely, potentially opening up targets that older drug technologies cannot reach. The company has translated this into a pipeline of drug candidates focused mainly on difficult cancers, including multiple myeloma, lymphomas, BRAF-driven tumors, and a particular form of lung cancer. Several of these programs are already in human trials, with important data expected over the next couple of years. Partnerships with major pharma on new concepts like degrader–antibody conjugates further underline the depth of the research engine, but all of this still needs strong clinical proof before it turns into durable value.

Summary

C4 Therapeutics is a pre-commercial, research-driven biotech built around a sophisticated protein degradation platform. Financially, it looks like a typical clinical-stage company: small and irregular revenue, sizable ongoing losses, and steady cash burn, partially offset by a history of fundraising and partnerships. The balance sheet and stated cash runway provide time to reach several important trial readouts, but continued success in securing either partner support or capital will matter if development takes longer or broadens. Strategically, the company has a credible position in a high-potential field, anchored by its TORPEDO platform, a focused oncology pipeline, and blue-chip collaborators. The main uncertainties are classic biotech risks: whether the science converts into clear clinical benefits, how it stacks up against competing approaches, and how management balances ambition with financial discipline over the next few years.

NEWS

November 25, 2025 · 7:00 AM UTC

C4 Therapeutics to Participate in the 8th Annual Evercore Healthcare Conference

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November 6, 2025 · 7:00 AM UTC

C4 Therapeutics Reports Third Quarter 2025 Financial Results and Recent Business Highlights

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October 16, 2025 · 7:08 AM UTC

C4 Therapeutics Announces Pricing of $125 Million Underwritten Offering

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October 1, 2025 · 7:00 AM UTC

C4 Therapeutics Announces Clinical Trial Collaboration and Supply Agreement with Pfizer for the Combination of Cemsidomide and Elranatamab for the Treatment of Relapsed/Refractory Multiple Myeloma

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September 20, 2025 · 11:00 AM UTC

C4 Therapeutics Presents Cemsidomide Phase 1 Multiple Myeloma Data Supporting Potential Best-in-Class Profile at the International Myeloma Society Annual Meeting

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