CytomX Therapeutics, Inc. (CTMX) reported new positive clinical data for its lead antibody-drug conjugate, Varsetatug masetecan (Varseta-M), alongside its full-year 2025 financial results, underscoring continued progress across its PROBODY platform.
The company is developing Varseta-M as a potential new treatment option for patients with late-line metastatic colorectal cancer, a population with limited therapeutic choices.
The latest Phase 1 expansion data for Varseta-M, confirmed response rates of 32% at the 10 mg/kg dose and 20% at the 8.6 mg/kg dose in patients with late-line metastatic colorectal cancer. Median progression-free survival reached 7.1 months and 6.8 months at the two doses, respectively. CytomX said the therapy continued to demonstrate a manageable safety profile, with Grade 3 diarrhea reduced to 10% in dose-optimization cohorts using updated prophylaxis.
The company plans to meet the U.S. FDA mid-year to discuss a potential registrational trial design for Varseta-M in late-line colorectal cancer. A Phase 1 combination study with Bevacizumab has already begun, and a Phase 1b/2 study combining Varseta-M with Bevacizumab and chemotherapy is expected to start by the end of 2026. The company also intends to expand testing into additional EpCAM-expressing cancers in the second half of 2026.
Beyond Varseta-M, the company's pipeline includes:
-CX-801, a masked interferon alpha-2b PROBODY cytokine, is in Phase 1 testing for advanced melanoma. Initial data from CX-801 combination study with KEYTRUDA are expected by the end of 2026.
- And multiple partnered discovery-stage programs with Amgen, Bristol Myers Squibb, Regeneron and Moderna.
On the financial side, for the full year 2025, CytomX reported revenue of $76.2 million, down from $138.1 million in 2024, reflecting the completion of certain collaboration obligations.
Operating expenses decreased to $98.6 million compared to $113.1 million the prior year, driven by lower research and development spending following a restructuring in early 2025.
The company posted a net loss of $17.3 million for 2025, compared with net income of $31.8 million in 2024.
CytomX ended 2025 with $137.1 million in cash, cash equivalents and investments, providing a projected cash runway into the second quarter of 2027.
We last alerted our readers when CytomX was trading at $5.41 on February 19, 2026.CTMX has traded between $0.40 and $6.35 over the past year. The stock closed Friday's trading session (March 13, 2026) at $4.68, down 3.90%. In pre-market trading the stock is up $7.11, up 51%, touching a new 52-week high.
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