CTMX Stock — CytomX Therapeutics Inc.: Cash, EV, Pipeline

What they do

We are a clinical-stage, oncology-focused biopharmaceutical company dedicated to developing innovative therapies to address major unmet need in oncology. CytomX has led the field of conditionally activated, masked biologics through the development of its PROBODY technology platform.

Source: 10-K FY2025 via SEC EDGAR

Share price

$2.19

Market cap

$477.2M

Cash

$348.0M

Enterprise value

$129.2M

Balance sheet

Cash	$348.0M
Debt	$0.0M
Net cash	$348.0M
Enterprise value	$129.2M
Basic shares	218.0M shares
Fully diluted shares	242.4M shares
Fully diluted market cap	$530.9M
Cash per share	$1.60
Quarterly burn	$18.1M
Cash runway	18.3 quarters

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

Share structure

Common

217.9M

Pre-funded warrants

1.2M

Options

19.5M

RSUs

3.5M

Warrants

0.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

0.3M

FDSO

242.4M

Cap table as of 2026-07-31.

Price history

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Next catalyst

Varseta-M (CX-2051) · Dec 1-31 · guided in 24d

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDDec 1-31 in 24d	Varseta-M (CX-2051) Phase 1 monotherapy trial in colorectal cancer	Phase 1	colorectal cancer	end of 2026
GUIDEDEst. Apr 1, 2027 in 8 wks half midpoint	CX-801 Phase 1 trial in combination with KEYTRUDA in advanced melanoma	Phase 1	advanced melanoma	1H 2027
Jan 11 - Feb 22 in 14 mo	CX-2051	Phase 1	Solid Tumor, Adult	—
Apr 10 - May 22 in 17 mo	CX-801	Phase 1	Solid Tumor, Adult	—

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

Varsetatug masetecan

Phase 1 · Active Modality: conditionally activated antibody-drug conjugate (PROBODY)

Aliases Varseta-M

Target EpCAM

Partnerships AbbVie/ImmunoGen (topoisomerase-1 inhibitor payload license)

Indications

metastatic colorectal cancer (Phase 1)
gastric/GEJ cancer (Phase 1)
pancreatic ductal adenocarcinoma (Phase 1)
biliary tract cancer (Phase 1)

Catalysts

— Q4 2026
— Q3 2026

Status note Most advanced program; Phase 1 in EpCAM-expressing solid tumors since April 2024; no discontinuation disclosed.

CX-801

Phase 1 · Active Modality: masked conditionally activated cytokine (PROBODY)

Target interferon alpha-2b

Partnerships Merck (KEYTRUDA supply collaboration)

Indications

late-line melanoma (with and without KEYTRUDA) (Phase 1)

Catalysts

— H1 2027

Status note Phase 1 dose escalation since Q3 2024; no discontinuation disclosed.

CX-908

Preclinical · Active Modality: PROBODY T cell engager

Target CDH3; CD3

Partnerships Amgen (originated program)

Indications

not disclosed (Preclinical)

Status note Preclinical TCE program selected from Amgen pipeline; no discontinuation disclosed.

CX-904

Phase 1 · Terminated Modality: conditionally activated T-cell engager

Target EGFR

Partnerships Amgen (collaboration terminated)

Indications

not disclosed (Phase 1)

Status note Jointly discontinued by CytomX and Amgen in March 2025 after Phase 1; Amgen terminated rights effective Q2 2025.

Per-asset detail extracted from the 10-Q filed 2026-08-06. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	varsetatug masetecan
Lead indication	Colo-rectal Cancer
Lead phase	Phase 2
Active trials	2

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT06265688	Phase 1	Recruiting	Sponsor	CytomX Therapeutics	—	Solid Tumor, Adult	—
NCT06462794	Phase 1	Recruiting	Sponsor	CytomX Therapeutics	MRK	Solid Tumor, Adult	—

Sponsor-matched active trials from ClinicalTrials.gov (2 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 2 active trials for CytomX Therapeutics 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
Perceptive Advisors	10,439,185	+340,361	0.61%	2026-08-14
Baker Bros. Advisors	4,975,826	no change	0.09%	2026-08-14
ADAR1 Capital Management	3,365,118	-45,072	0.59%	2026-08-14
Sphera Biotech	879,000	+659,000	0.47%	2026-08-14
Ally Bridge Group	775,000	-125,000	3.75%	2026-08-14
DAFNA Capital	438,407	+208,407	0.31%	2026-08-14
Stonepine Capital	205,000	+5,000	0.59%	2026-08-17

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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CTMX — CytomX Therapeutics Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

CTMX — CytomX Therapeutics Inc.