C4 Therapeutics reported Q2 2024 revenue of $12.0 million, a 351% increase from $2.7 million in Q2 2023, driven by an $8.0 million milestone payment from Biogen and contributions from new collaborations. Research and development expenses decreased 21% to $23.8 million, while general and administrative expenses declined 6% to $9.7 million. The company ended the quarter with $295.7 million in cash and equivalents.The company continues to advance its clinical programs, including cemsidomide (CFT7455) in multiple myeloma and non-Hodgkin lymphomas, and CFT1946 for BRAF V600X mutant solid tumors. New strategic collaborations were established with MKDG in March 2024 for two targeted protein degraders and with Merck in December 2023 for degrader-antibody conjugates, expanding the company's partnership portfolio.Management implemented a restructuring plan in January 2024 to reduce operating costs, including a 30% workforce reduction. The company believes its current cash position will fund operations into 2027. Multiple clinical and strategic milestones are anticipated as C4 Therapeutics continues developing its targeted protein degradation platform and advancing its pipeline of novel therapeutics.

C4 Therapeutics reported Q2 2024 revenue of $12.0 million, a 351% increase from $2.7 million in Q2 2023, driven by an $8.0 million milestone payment from Biogen and contributions from new collaborations. Research and development expenses decreased 21% to $23.8 million, while general and administrative expenses declined 6% to $9.7 million. The company ended the quarter with $295.7 million in cash and equivalents.The company continues to advance its clinical programs, including cemsidomide (CFT7455) in multiple myeloma and non-Hodgkin lymphomas, and CFT1946 for BRAF V600X mutant solid tumors. New strategic collaborations were established with MKDG in March 2024 for two targeted protein degraders and with Merck in December 2023 for degrader-antibody conjugates, expanding the company's partnership portfolio.Management implemented a restructuring plan in January 2024 to reduce operating costs, including a 30% workforce reduction. The company believes its current cash position will fund operations into 2027. Multiple clinical and strategic milestones are anticipated as C4 Therapeutics continues developing its targeted protein degradation platform and advancing its pipeline of novel therapeutics.