C4 Therapeutics (CCCC) has received a new Buy rating, initiated by TD Cowen analyst, Tyler Van Buren.
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Tyler Van Buren’s rating is based on C4 Therapeutics’ innovative approach to drug development, particularly through its TORPEDO platform, which allows for the creation of selective and brain-penetrant degraders. The company’s lead asset, cemsidomide, shows promise as a next-generation oral degrader for relapsed/refractory multiple myeloma, with the potential to become a foundational therapy similar to existing treatments like Pomalyst and Revlimid. In clinical trials, cemsidomide has demonstrated impressive efficacy and durability, achieving a 53% overall response rate and a median duration of response exceeding nine months in heavily pretreated patients.
Furthermore, the safety profile of cemsidomide is favorable, with lower instances of severe neutropenia and fewer dose reductions compared to other treatments. The upcoming pivotal Phase II trial and the combination study with Elrexfio in Phase Ib are expected to further validate its clinical potential. Additionally, the anticipated data releases and potential market opportunities, with projected global sales reaching $1.5 billion by 2035, underscore the significant upside potential for C4 Therapeutics, supporting the Buy rating.
According to TipRanks, Van Buren is a 5-star analyst with an average return of 11.4% and a 51.87% success rate. Van Buren covers the Healthcare sector, focusing on stocks such as Soleno Therapeutics, Gilead Sciences, and Moderna.