CytomX Therapeutics Inc (CTMX)
NASDAQ:CTMX
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CytomX Therapeutics
(NASDAQ:CTMX)
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Rating:46Neutral
Price Target:
$4.00
▼(-17.01% Downside)
Action:ReiteratedDate:04/01/26
The score is held down primarily by weak financial fundamentals (heavy ongoing cash burn and volatile earnings) and only modest technical momentum. Offsetting factors include a constructive earnings call with encouraging efficacy/safety improvements and improved liquidity from the equity raise, though dilution risk remains.
Positive Factors
Masked PROBODY platform
CytomX's masked PROBODY approach yields low free payload exposure and dose-proportional PK, supporting a wider therapeutic window. This structural technology advantage enables targeting difficult antigens with reduced off-tumor toxicity, bolstering long-term differentiation and partner interest.
Negative Factors
Persistent cash burn
Sustained, large negative operating and free cash flows mean the business remains dependent on external financing unless R&D spending is cut or revenue materially improves. This structural cash-burn dynamic elevates dilution and execution risk over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Masked PROBODY platform
CytomX's masked PROBODY approach yields low free payload exposure and dose-proportional PK, supporting a wider therapeutic window. This structural technology advantage enables targeting difficult antigens with reduced off-tumor toxicity, bolstering long-term differentiation and partner interest.
Read all positive factors
CytomX Therapeutics (CTMX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$912.27M
Dividend YieldN/A
Average Volume (3M)10.71M
Price to Earnings (P/E)―
Beta (1Y)2.49
Revenue Growth-44.82%
EPS Growth-97.67%
CountryUS
Employees119
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)N/A
Shares Outstanding216,177,300
10 Day Avg. Volume5,226,101
30 Day Avg. Volume10,705,750
Financial Highlights & Ratios
PEG Ratio0.24
Price to Book (P/B)5.93
Price to Sales (P/S)7.71
P/FCF Ratio-7.75
Enterprise Value/Market Cap0.75
Enterprise Value/Revenue8.94
Enterprise Value/Gross Profit9.00
Enterprise Value/Ebitda-35.12
Forecast
1Y Price Target
$13.67Price Target Upside183.54% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)-0.45
Revenue Forecast (FY)$21.48M
CytomX Therapeutics Business Overview & Revenue Model
Company Description
CytomX Therapeutics, Inc. operates as an oncology-focused biopharmaceutical company in the United States. The company develops antibody therapeutics based on its Probody technology platform for the treatment of cancer. The company's product candid...
How the Company Makes Money
As a clinical-stage biotechnology company, CytomX has historically generated revenue primarily from strategic collaborations rather than from product sales (as it does not have a widely marketed commercial product). Key revenue streams typically i...
CytomX Therapeutics Earnings Call Summary
Earnings Call Date:Mar 16, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
Positive — The call presented robust and clinically meaningful efficacy signals (ORR up to 32%, median PFS 6.8–7.1 months), compelling target validation, and clear reductions in the main severe toxicity (grade 3 diarrhea) through a combined strategy of AIBW dosing and dual prophylaxis. Remaining risks are primarily the need for larger/mature data (optimization cohorts, OS), ongoing management of diarrhea/electrolyte events, and confirmation of these early safety gains in bigger populations and combinations. Overall, the highlights materially outweigh the lowlights and support an optimistic near-term development trajectory.Positive Updates
Confirmed Objective Response Rates (ORR)
Strong antitumor activity with confirmed ORR of 32% at 10 mg/kg and 20% at 8.6 mg/kg in late-line metastatic CRC expansion cohorts.
Negative Updates
Diarrhea Remains Principal Adverse Event
Although reduced with optimization, treatment-related diarrhea remains the main AE of interest; grade 3 diarrhea still observed at 10% in early optimization cohorts and was 29% in earlier expansion cohorts.
Read all updates
Q4-2025 Updates
Positive
Negative
Confirmed Objective Response Rates (ORR)
Strong antitumor activity with confirmed ORR of 32% at 10 mg/kg and 20% at 8.6 mg/kg in late-line metastatic CRC expansion cohorts.
Read all positive updates
Company Guidance
On the call CytomX reported that as of the Jan 16, 2026 data cut the Phase I Varseta‑M program had enrolled 93 patients (up from 73), including 60 treated at prioritized expansion doses of 7.2, 8.6 and 10 mg/kg q3w; dose‑optimization using adjusted ideal body weight (AIBW) plus mandatory loperamide and budesonide has 20 of a target 40 patients enrolled. Efficacy: confirmed ORRs of 32% at 10 mg/kg and 20% at 8.6 mg/kg, with median PFS improving from 5.8 months to ~6.8–7.1 months (median follow‑up >8 months; 16 patients on treatment, several >11 months). Safety: grade 3 diarrhea fell from 29% in escalation/expansion to 10% (2/20) in early optimization, with a parallel reduction in grade 3 hypokalemia, treatment‑related discontinuations 11%, and median time to onset of grade 3 diarrhea ≈5 weeks. PK: dose‑proportional, half‑life 6–8 days, unconjugated CAMP59 ≈1–3% of total, DAR=8. Planned milestones: registrational study start H1 2027; additional data and registrational design in H2 2026.CytomX Therapeutics Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
45
Neutral
Cash Flow
24
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 76.20M | 138.10M | 101.21M | 53.16M | 37.31M |
| Gross Profit | 76.20M | 138.10M | 101.21M | 53.16M | 37.31M |
| EBITDA | -18.19M | 26.76M | -4.31M | -98.89M | -113.34M |
| Net Income | -17.37M | 31.87M | -569.00K | -99.32M | -115.87M |
Balance Sheet | |||||
| Total Assets | 151.57M | 120.53M | 201.79M | 260.89M | 339.41M |
| Cash, Cash Equivalents and Short-Term Investments | 137.05M | 100.62M | 174.51M | 193.65M | 305.23M |
| Total Debt | 4.24M | 9.38M | 13.97M | 18.06M | 21.67M |
| Total Liabilities | 52.56M | 120.99M | 249.24M | 346.64M | 339.87M |
| Stockholders Equity | 99.01M | -456.00K | -47.45M | -85.75M | -459.00K |
Cash Flow | |||||
| Free Cash Flow | -75.81M | -86.54M | -56.88M | -112.53M | -120.64M |
| Operating Cash Flow | -75.59M | -86.23M | -56.03M | -110.79M | -119.03M |
| Investing Cash Flow | -59.74M | 99.70M | -150.67M | 98.26M | 22.49M |
| Financing Cash Flow | 110.45M | 7.52M | 30.23M | 648.00K | 110.21M |
CytomX Therapeutics Technical Analysis
Positive
4.82
Price Trends
4.95
Negative
4.74
Positive
3.74
Positive
Market Momentum
-0.07
Negative
53.45
Neutral
77.65
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CTMX, the sentiment is Positive. The current price of 4.82 is above the 20-day moving average (MA) of 4.47, below the 50-day MA of 4.95, and above the 200-day MA of 3.74, indicating a neutral trend. The MACD of -0.07 indicates Negative momentum. The RSI at 53.45 is Neutral, neither overbought nor oversold. The STOCH value of 77.65 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CTMX.
CytomX Therapeutics Risk Analysis
CytomX Therapeutics disclosed 74 risk factors in its most recent earnings report. CytomX Therapeutics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
CytomX Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $682.13M | -8.29 | -41.94% | ― | 60.24% | 78.37% | |
54 Neutral | $1.37B | -37.98 | -444.41% | ― | ― | -13.14% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $245.01M | -1.44 | -29.13% | ― | -51.43% | 20.51% | |
49 Neutral | $479.62M | -2.55 | -1849.88% | ― | 209.14% | 11.31% | |
49 Neutral | $327.42M | -1.33 | -33.20% | ― | 105.62% | -10.24% | |
46 Neutral | $912.27M | -33.83 | -19.77% | ― | -44.82% | -97.67% |
* Healthcare Sector Average
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CytomX Therapeutics Corporate Events
Business Operations and StrategyPrivate Placements and Financing
CytomX Therapeutics Raises $234 Million in Equity Offering
Positive
Mar 19, 2026
On March 17, 2026, CytomX Therapeutics, Inc. entered into an underwriting agreement with a syndicate of banks to offer 45,990,567 shares of common stock at $5.30 per share and pre-funded warrants to purchase 1,179,245 shares at $5.29999 each. The ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.