Earnings ·
CytomX Therapeutics reported Q2 2026 financial results showing a revenue decline to $1.4 million from $18.7 million in…
CTMXCytomX Therapeutics, Inc.
CytomX Therapeutics reported Q2 2026 financial results showing a revenue decline to $1.4 million from $18.7 million in the prior year period, driven by the completion of performance obligations with Bristol Myers Squibb and lower Astellas collaboration activity. Operating expenses increased to $25.2 million due to Varseta-M manufacturing and personnel costs, resulting in a net loss of $20.7 million compared to a $154,000 loss previously. The company ended the quarter with $330.3 million in cash and investments. Pipeline updates include planned FDA interactions for Varseta-M's registrational study in colorectal cancer, expected by late 2026, with initiation targeted for early 2027. Additionally, CytomX received a $37.0 million target selection payment from Regeneron in July 2026 and appointed new board member Dr. Charles Fuchs along with executive leadership additions. The company operates as a clinical-stage biopharmaceutical firm developing conditionally activated biologics for oncology.