CCCC Stock — C4 Therapeutics Inc.: Cash, EV, Pipeline

What they do

We are a clinical-stage biopharmaceutical company dedicated to delivering on the promise of targeted protein degradation, or TPD, science to create a new generation of small-molecule medicines that transform patients’ lives. Leveraging our proprietary TORPEDO platform, we efficiently design and optimize small molecule protein degraders that are highly active against their desired targets by harnessing the body’s natural process for destroying unwanted proteins.

Source: 10-K FY2025 via SEC EDGAR

Share price

$3.10

Market cap

$381.4M

Cash

$274.7M

Enterprise value

$106.7M

Balance sheet

Cash	$274.7M
Debt	$0.0M
Net cash	$274.7M
Enterprise value	$106.7M
Basic shares	131.3M shares
Fully diluted shares	273.7M shares
Fully diluted market cap	$848.6M
Cash per share	$2.09
Quarterly burn	$1.6M
Cash runway	190.9 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-07.

Share structure

Common

123.0M

Pre-funded warrants

28.7M

Options

11.9M

RSUs

5.6M

Warrants

101.2M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

3.3M

FDSO

273.7M

Cap table as of 2026-06-30.

Price history

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Next catalyst

cemsidomide · Nov 11 - Dec 23 in 4d · Phase 1 · Multiple Myeloma; Lymphoma, Non-Hodgkin's

Recently reported

cemsidomide Mixed · 2026-09-25

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Nov 11 - Dec 23 in 4d	cemsidomide	Phase 1	Multiple Myeloma; Lymphoma, Non-Hodgkin's	—
GUIDEDEst. Jul 16, 2027 in 7 mo guidance midpoint	cemsidomide Phase 1b trial in combination with elranatamab (all cohorts data)	Phase 1b	Not disclosed	mid-2027
GUIDEDEst. Sep 30, 2027 in 8 mo half midpoint	cemsidomide Phase 2 MOMENTUM trial (initial investigator-assessed ORR)	Phase 2	Not disclosed	H2 2027
Jan 12 - Feb 23 in 27 mo	Cemsidomide	Phase 1	Multiple Myeloma (MM)	—
Apr 12 - May 24 in 42 mo	Cemsidomide	Phase 2	Multiple Myeloma; Relapsed/Refractory Multiple Myeloma	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

Cemsidomide

Phase 1 · Active Modality: molecular glue degrader

Target IKZF1, IKZF3

Partnerships Pfizer: clinical trial collaboration & supply agreement (Sep 2025); Pfizer supplies elranatamab at no cost; company sponsors and conducts the trial

Indications

Multiple myeloma (Phase 1)

Status note IKZF1/3 degrader (MonoDAC). Most advanced product candidate per filing. Ongoing/planned Phase 1b trial in combination with dexamethasone and elranatamab in second-line or later multiple myeloma.

CFT8919

Phase 1 · Active Modality: protein degrader

Target EGFR (L858R mutant)

Partnerships Betta Pharma: exclusive Greater China license (May 2023); $10M upfront, up to $357M milestones; C4 retains rest-of-world rights

Indications

not disclosed (Phase 1)

Status note Allosteric, mutant-selective BiDAC degrader of EGFR L858R (target/modality per 10-K fallback). Phase 1 trial referenced in primary; Betta Pharma conducts clinical development in Greater China, C4 retains ex-Greater China rights.

Per-asset detail extracted from the 10-Q filed 2026-08-11. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Cemsidomide
Lead indication	Multiple Myeloma; Relapsed/Refractory Multiple Myeloma
Lead phase	Phase 2
Active trials	3

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07284758	Phase 2	Recruiting	Sponsor	C4 Therapeutics, Inc.	—	Multiple Myeloma; Relapsed/Refractory Multiple Myeloma	H2 2027 Est. Sep 30, 2027 · half midpoint
NCT04756726	Phase 1	Active, not recruiting	Sponsor	C4 Therapeutics, Inc.	—	Multiple Myeloma; Lymphoma, Non-Hodgkin's	—
NCT07280013	Phase 1	Recruiting	Sponsor	C4 Therapeutics, Inc.	—	Multiple Myeloma (MM)	—

Sponsor-matched active trials from ClinicalTrials.gov (3 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 3 active trials for C4 Therapeutics, Inc. on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
RA Capital Management	8,000,000	no change	0.32%	2026-08-14
Ikarian Capital	2,433,000	+2,433,000	1.86%	2026-08-14
ADAR1 Capital Management	291,957	+248,957	0.06%	2026-08-14
OrbiMed Advisors	0	-856,353	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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CCCC — C4 Therapeutics Inc. ☆