C4 Therapeutics (CCCC) AI Stock Analysis

• Market Cap: $183.17M
• Dividend Yield: N/A
• Average Volume (3M): 1.28M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.33
• Revenue Growth: -10.57%
• EPS Growth: 1.98%
• Country: US
• Employees: 110
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.44
• Shares Outstanding: 96,914,420
• 10 Day Avg. Volume: 983,407
• 30 Day Avg. Volume: 1,280,320
• PEG Ratio: 0.06
• Price to Book (P/B): 1.16
• Price to Sales (P/S): 7.02
• P/FCF Ratio: -3.82
• Enterprise Value/Market Cap: 0.68
• Enterprise Value/Revenue: 4.13
• Enterprise Value/Gross Profit: 4.39
• Enterprise Value/Ebitda: -1.03
• 1Y Price Target: $6.00
• Price Target Upside: 217.46% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: $2.00 ▲(5.82% Upside)

The score is held back primarily by weak financial performance—large ongoing losses, significant cash burn, and declining equity—despite a balance sheet that is not overly levered. Technicals are neutral with mixed trend signals, and valuation is constrained by a negative P/E and no dividend support.

Positive Factors

Proprietary Platform

C4T's TORPEDO platform is a durable competitive asset: targeted protein degradation is a differentiated modality that can address undruggable targets. If broadly applicable, the platform enables multiple programs and licensing/partnering optionality, supporting long-term value creation.

Clear Clinical Roadmap & Partnerships

A defined multi-year development plan with near-term Phase 2 starts, planned pivotal aims and established collaborations materially reduces execution uncertainty. Strategic alliances with major pharma increase access to resources, validation and potential non-dilutive funding across crucial clinical milestones.

Manageable Leverage

Debt-to-equity near 0.40 is moderate for a development-stage biotech and implies the balance sheet retains flexibility versus highly levered peers. While equity declined, the current leverage level supports ability to finance near-term programs without immediate extreme balance-sheet strain.

Negative Factors

Heavy Cash Burn

Sustained negative operating and free cash flow means the company consumes substantial cash to fund R&D. Persistent burn increases reliance on external financing, raises dilution or debt risk, and can constrain program pacing if capital markets or partner funding weaken.

Large Operating Losses

Deep operating losses and a declining top line signal that operational performance is not yet self-sustaining. Without meaningful revenue diversification or successful clinical readouts, negative margins will persist, pressuring capital needs and limiting ability to fund growth internally.

Eroding Equity & Rising Financing Risk

A material drop in equity paired with rising leverage reflects accumulated losses and prior financing; this reduces the company's cushion against setbacks. The trend heightens the probability of further dilutive raises or increased debt dependence to support the pipeline, elevating long-term financing risk.

C4 Therapeutics Business Overview & Revenue Model

Company Description

C4 Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops novel therapeutic candidates to degrade disease-causing proteins for the treatment of cancer, neurodegenerative conditions, and other diseases. Its lead product candidate is CFT7455, an orally bioavailable MonoDAC degrader of protein that is in Phase 1/2 trial targeting IKZF1 and IKZF3 for multiple myeloma and non-Hodgkin lymphomas, including peripheral T-cell lymphoma and mantle cell lymphoma. The company is also developing CFT8634, an orally bioavailable BiDAC degrader of BRD9, a protein target for synovial sarcoma and SMARCB1-deleted solid tumors; CFT1946, an orally bioavailable BiDAC degrader targeting V600X mutant BRAF to treat melanoma, non-small cell lung cancer (NSCLC), colorectal cancer, and other solid malignancies; CFT8919, an orally bioavailable, allosteric, and mutant-selective BiDAC degrader of epidermal growth factor receptor, or EGFR, with an L858R mutation in NSCLC; and earlier stage programs comprising RET degraders for the treatment of various cancers. C4 Therapeutics, Inc. has strategic collaborations with F. Hoffmann-La Roche Ltd and Hoffmann-La Roche Inc.; Biogen MA, Inc.; and Calico Life Sciences LLC. The company was incorporated in 2015 and is headquartered in Watertown, Massachusetts.

How the Company Makes Money

C4 Therapeutics generates revenue primarily through partnerships and collaborations with pharmaceutical companies that seek to leverage its proprietary protein degradation technology. The company may receive upfront payments, milestone payments tied to the achievement of specific development goals, and royalties on sales of products developed through these collaborations. Additionally, C4 Therapeutics may engage in grant funding or government contracts to support research and development efforts. The success of its revenue model is heavily reliant on the advancement of its drug candidates through clinical trials and their eventual commercialization in partnership with established pharmaceutical companies.

C4 Therapeutics Financial Statement Overview

Summary

Financials reflect a development-stage biotech: revenue is volatile and down TTM (-12.1%), operating losses are very large (TTM EBIT -$129.8M; net income -$119.1M), and cash burn remains heavy (TTM FCF -$95.1M). The balance sheet is comparatively steadier with manageable leverage (~0.40 debt-to-equity), but equity has declined (from $216.0M to $154.4M), increasing financing risk if burn persists.

Income Statement

Revenue has been volatile and is down in TTM (Trailing-Twelve-Months) (-12.1% growth) after a modest increase in 2024, indicating inconsistent top-line momentum. While gross profit remains positive in recent periods, operating performance is deeply negative (TTM EBIT of -$129.8M and net income of -$119.1M), and net margins remain highly loss-making, reflecting a business still in heavy investment mode. The key strength is the ability to generate gross profit on revenue, but persistent large operating losses and uneven revenue trajectory weigh heavily on the score.

Balance Sheet

Leverage appears manageable for a development-stage biotech, with debt-to-equity at ~0.40 in TTM (Trailing-Twelve-Months) (up from ~0.30 in 2024), suggesting rising reliance on debt but not extreme balance-sheet strain. However, equity has declined meaningfully (from $216.0M in 2024 to $154.4M in TTM), consistent with ongoing losses, and returns on equity are sharply negative. Overall, the balance sheet is a relative strength versus profitability, but the trend in equity and increasing leverage are notable risks.

Cash Flow

Cash burn remains heavy, with TTM (Trailing-Twelve-Months) operating cash flow of -$94.5M and free cash flow of -$95.1M, highlighting continued funding needs. Cash flow losses broadly track accounting losses (free cash flow to net income ~1.01x), which is a positive sign of earnings quality, but it also underscores that losses are translating into real cash outflows. Free cash flow burn improved versus 2024 (less negative), yet absolute cash consumption is still substantial.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	30.11M	35.58M	20.76M	31.10M	45.78M	33.20M
Gross Profit	28.34M	35.58M	13.02M	31.10M	45.78M	-45.24M
EBITDA	-120.98M	-103.37M	-122.10M	-124.28M	-80.25M	-58.83M
Net Income	-119.08M	-105.32M	-132.49M	-128.18M	-83.89M	-66.33M
Balance Sheet
Total Assets	265.49M	349.60M	376.45M	430.84M	506.76M	400.14M
Cash, Cash Equivalents and Short-Term Investments	191.88M	244.90M	253.68M	276.15M	309.28M	371.69M
Total Debt	61.46M	65.76M	70.98M	87.15M	42.88M	22.92M
Total Liabilities	111.08M	133.62M	130.34M	141.61M	117.16M	119.35M
Stockholders Equity	154.41M	215.99M	246.11M	289.23M	389.61M	280.79M
Cash Flow
Free Cash Flow	-95.07M	-65.34M	-108.55M	-111.44M	-88.24M	-67.90M
Operating Cash Flow	-94.48M	-65.16M	-106.84M	-105.94M	-86.97M	-67.25M
Investing Cash Flow	85.80M	-51.27M	158.35M	58.42M	-189.34M	-190.50M
Financing Cash Flow	7.84M	45.34M	45.49M	1.15M	171.40M	348.93M

C4 Therapeutics Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.89
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CCCC, the sentiment is Negative. The current price of 1.89 is below the 20-day moving average (MA) of 2.11, below the 50-day MA of 2.24, and below the 200-day MA of 2.13, indicating a bearish trend. The MACD of -0.08 indicates Positive momentum. The RSI at 39.25 is Neutral, neither overbought nor oversold. The STOCH value of 26.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CCCC.

C4 Therapeutics Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SLS	56 Neutral	$544.13M	-12.30	-84.33%	―	―	59.04%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
MCRB	50 Neutral	$123.30M	22.07	15.95%	―	448.44%	―
CCCC	47 Neutral	$183.17M	-1.02	-59.98%	―	-10.57%	1.98%
ELDN	44 Neutral	$161.43M	-1.64	-95.49%	―	―	72.35%
TVGN	41 Neutral	$56.51M	-1.58	―	―	―	-234.46%

C4 Therapeutics Corporate Events

C4 Therapeutics Unveils Multi-Year Cemsidomide Clinical Strategy

On January 14, 2026, C4 Therapeutics outlined a multi-year strategy centered on advancing its lead IKZF1/3 degrader cemsidomide toward potential best-in-class status in multiple myeloma, alongside a refocused discovery effort on novel targets in validated inflammatory and neuro-inflammatory pathways. The company plans to start the Phase 2 MOMENTUM trial of cemsidomide plus dexamethasone in the first quarter of 2026 using a 100 µg dose, initiate a Phase 1b study with elranatamab in the second quarter of 2026, and work toward pivotal data readouts and a potential U.S. new drug application in fourth-line or later multiple myeloma by year-end 2028, supported by Phase 1 data from 2025 showing overall response rates of 40% and 53% at the two highest dose levels. C4T also detailed a goal to begin a Phase 3 trial of cemsidomide in combination with a BCMA bispecific antibody by early 2028, use data from its CFT8919 program in China to guide ex-China development in 2026, and file up to three investigational new drug applications from its internal discovery pipeline by 2028. The company reported that its cash runway extends to the end of 2028, providing funding through several clinical and partnership milestones, including advancement of collaborations with Merck KGaA, Roche and Biogen, positioning C4T to strengthen its presence in targeted protein degradation and potentially enhance value for patients and investors if the planned trials and discovery initiatives succeed.

The most recent analyst rating on (CCCC) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on C4 Therapeutics stock, see the CCCC Stock Forecast page.