CTMX shares rise after management confirms liquidity through at least H2 2028 and targets H1 2027 for Varseta-M registrational study.
CytomX Therapeutics (CTMX) announced its cash runway now extends to at least the second half of 2028, providing financial flexibility for ongoing programs. The company also outlined plans to initiate a registrational study for its Varseta-M candidate in the first half of 2027.
The updated timeline follows Q1 2026 guidance, where management previously indicated a focus on advancing lead assets. Varseta-M, a key pipeline asset, targets a registrational study next year, aligning with earlier projections for clinical milestones.
Shares of CTMX edged higher in after-hours trading following the disclosure, reflecting investor confidence in the extended runway and development timeline.