CytomX Therapeutics (NASDAQ:CTMX) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

CytomX Therapeutics (NASDAQ:CTMX) announced its quarterly earnings data on Thursday. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01), Zacks reports. CytomX Therapeutics had a negative return on equity of 45.40% and a negative net margin of 435.21%.The company had revenue of $1.42 million for the quarter, compared to analysts’ expectations of $12.39 million.

Here are the key takeaways from CytomX Therapeutics’ conference call:

• Varseta-M dose-optimization enrollment is complete, with a 113-patient Phase I study ongoing; CytomX expects to report broader monotherapy data, including initial progression-free and overall-survival information, by year-end 2026 and start a potential registrational study in the first half of 2027.
• The company is expanding Varseta-M into earlier-line colorectal cancer through bevacizumab and 5-FU/leucovorin combinations, with initial combination data expected in the first half of 2027 and a goal of replacing irinotecan in second-line treatment.
• CytomX is broadening Varseta-M into gastric/GEJ, pancreatic, and biliary tract cancers through new Phase I expansion cohorts, potentially positioning the drug as a pan-gastrointestinal ADC.
• CytomX received a $37 million Regeneron payment in July for two additional collaboration targets, taking pro forma cash to approximately $367 million; management projects cash runway into at least the second half of 2028.
• Diarrhea remains a key development risk for Varseta-M, particularly if Grade 3 rates trend toward the high end of the company’s 10%–20% risk-benefit range, which could affect its movement into earlier treatment lines despite reported improvement with loperamide and budesonide prophylaxis.

CytomX Therapeutics Trading Up 2.7%

CTMX stock traded up $0.09 during midday trading on Friday, hitting $3.46. 2,461,314 shares of the company’s stock were exchanged, compared to its average volume of 3,128,085. The firm has a 50 day moving average price of $3.35 and a 200-day moving average price of $4.27. CytomX Therapeutics has a 12-month low of $1.72 and a 12-month high of $8.21. The stock has a market capitalization of $588.86 million, a price-to-earnings ratio of -6.92 and a beta of 2.12.

Institutional Trading of CytomX Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Orbimed Advisors LLC bought a new stake in shares of CytomX Therapeutics in the 2nd quarter worth about $19,208,000. Commodore Capital LP acquired a new stake in shares of CytomX Therapeutics in the 2nd quarter valued at about $17,462,000. Perceptive Advisors LLC bought a new stake in CytomX Therapeutics in the second quarter valued at about $15,876,000. State Street Corp raised its stake in CytomX Therapeutics by 697.1% during the fourth quarter. State Street Corp now owns 5,140,931 shares of the biotechnology company’s stock valued at $21,900,000 after buying an additional 4,495,949 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in CytomX Therapeutics during the second quarter valued at approximately $6,505,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

Analysts Set New Price Targets

CTMX has been the subject of several analyst reports. Wolfe Research began coverage on CytomX Therapeutics in a research report on Tuesday, May 19th. They issued an “outperform” rating and a $6.00 target price for the company. HC Wainwright lowered their price objective on shares of CytomX Therapeutics from $17.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Wall Street Zen upgraded shares of CytomX Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Zacks Research upgraded shares of CytomX Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of CytomX Therapeutics in a research report on Tuesday, June 16th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, CytomX Therapeutics has a consensus rating of “Buy” and a consensus target price of $12.10.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.

At the core of CytomX’s pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.