C4 Therapeutics reported Q3 2024 revenue of $15.4 million, up from $11.1 million in Q3 2023, driven by an $8.0 million milestone payment from Biogen and $6.9 million from new collaborations with MKDG, Merck and Betta Pharma. Net loss narrowed to $24.7 million compared to $27.0 million in the prior year quarter. Cash, cash equivalents and marketable securities totaled $284.4 million as of September 30, 2024.The company continues to advance its clinical programs, with positive data from cemsidomide (CFT7455) Phase 1/2 trial in multiple myeloma and non-Hodgkin lymphomas. CFT1946 showed proof of mechanism in BRAF V600 mutant solid tumors at ESMO 2024. Strategic collaborations expanded with new partnerships with MKDG ($16 million upfront) and Merck ($10 million upfront) for protein degrader development.Research and development expenses increased to $31.8 million in Q3 2024 from $28.3 million in Q3 2023, primarily due to clinical trial progress. The company implemented a restructuring plan in January 2024 reducing workforce by 30% to optimize costs. Management expects current cash runway to fund operations into 2027 based on existing programs and partnerships.

C4 Therapeutics reported Q3 2024 revenue of $15.4 million, up from $11.1 million in Q3 2023, driven by an $8.0 million milestone payment from Biogen and $6.9 million from new collaborations with MKDG, Merck and Betta Pharma. Net loss narrowed to $24.7 million compared to $27.0 million in the prior year quarter. Cash, cash equivalents and marketable securities totaled $284.4 million as of September 30, 2024.The company continues to advance its clinical programs, with positive data from cemsidomide (CFT7455) Phase 1/2 trial in multiple myeloma and non-Hodgkin lymphomas. CFT1946 showed proof of mechanism in BRAF V600 mutant solid tumors at ESMO 2024. Strategic collaborations expanded with new partnerships with MKDG ($16 million upfront) and Merck ($10 million upfront) for protein degrader development.Research and development expenses increased to $31.8 million in Q3 2024 from $28.3 million in Q3 2023, primarily due to clinical trial progress. The company implemented a restructuring plan in January 2024 reducing workforce by 30% to optimize costs. Management expects current cash runway to fund operations into 2027 based on existing programs and partnerships.