CytomX Therapeutics (NASDAQ:CTMX) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

CytomX Therapeutics (NASDAQ:CTMX) posted its earnings results on Thursday. The biotechnology company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.04, FiscalAI reports. The company had revenue of $10.26 million during the quarter, compared to the consensus estimate of $4.68 million. CytomX Therapeutics had a negative net margin of 166.40% and a negative return on equity of 54.37%.

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

• Varseta‑M20%–32% and median progression‑free survival of ~7 months, positioning it as a potentially company‑building, first‑in‑class EpCAM ADC.
• Enrollment in dose‑optimization is complete (40 patients at 8.6 mg/kg and 10 mg/kg; 113 total in the Phase I), and management is targeting a registrational late‑line CRC study in the first half of 2027 with a comprehensive Phase I update planned in H2 2026 to inform dose selection.
• Updated adverse‑event management (prophylactic loperamide and budesonide, adjusted ideal body weight dosing) appears to lower high‑grade diarrhea (initially ~10% in early optimization patients), but longer follow‑up and broader data are needed to confirm tolerability and impact on overall survival.
• CytomX is advancing Varseta‑M into combination studies—bevacizumab combo data expected by H1 2027 and a chemo (bevacizumab + 5‑FU/leucovorin) Phase I/II starting in H2 2026—and plans Phase I expansions in other EpCAM‑expressing tumors to pursue pan‑tumor potential.
• Following a March financing, CytomX ended Q1 with $346.7M in cash and expects runway into at least H2 2028, which management says is sufficient to advance Varseta‑M into a registrational study and support planned clinical milestones.

CytomX Therapeutics Stock Down 0.5%

CytomX Therapeutics stock traded down $0.02 during midday trading on Friday, hitting $3.98. 5,054,790 shares of the stock were exchanged, compared to its average volume of 3,705,994. CytomX Therapeutics has a 52-week low of $0.91 and a 52-week high of $8.21. The stock has a market capitalization of $677.36 million, a price-to-earnings ratio of -9.71 and a beta of 2.18. The business’s 50-day moving average price is $4.66 and its 200-day moving average price is $4.53.

Insider Activity

In related news, CEO Sean A. Mccarthy sold 118,969 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $6.42, for a total transaction of $763,780.98. Following the transaction, the chief executive officer directly owned 1,078,922 shares in the company, valued at approximately $6,926,679.24. The trade was a 9.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Yu-Waye Chu sold 21,279 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $6.42, for a total transaction of $136,611.18. Following the completion of the transaction, the insider owned 189,446 shares in the company, valued at approximately $1,216,243.32. The trade was a 10.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 191,063 shares of company stock valued at $1,226,624 in the last three months. 6.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Orbimed Advisors LLC purchased a new position in CytomX Therapeutics in the second quarter valued at about $19,208,000. Commodore Capital LP purchased a new position in CytomX Therapeutics in the second quarter valued at about $17,462,000. Perceptive Advisors LLC purchased a new position in CytomX Therapeutics in the second quarter valued at about $15,876,000. State Street Corp boosted its stake in CytomX Therapeutics by 697.1% in the fourth quarter. State Street Corp now owns 5,140,931 shares of the biotechnology company’s stock valued at $21,900,000 after acquiring an additional 4,495,949 shares during the last quarter. Finally, ADAR1 Capital Management LLC boosted its stake in CytomX Therapeutics by 31.3% in the third quarter. ADAR1 Capital Management LLC now owns 4,045,414 shares of the biotechnology company’s stock valued at $12,905,000 after acquiring an additional 964,000 shares during the last quarter. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CTMX. Weiss Ratings downgraded shares of CytomX Therapeutics from a “hold (c-)” rating to a “sell (d)” rating in a research report on Thursday, March 19th. JPMorgan Chase & Co. raised shares of CytomX Therapeutics from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $7.00 to $12.00 in a research report on Monday, March 16th. Piper Sandler boosted their target price on shares of CytomX Therapeutics from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Monday, March 23rd. Wedbush boosted their target price on shares of CytomX Therapeutics from $6.00 to $11.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 17th. Finally, Jefferies Financial Group boosted their target price on shares of CytomX Therapeutics from $8.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, CytomX Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $13.44.

About CytomX Therapeutics

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.