CytomX Therapeutics Inc

CytomX Therapeutics announced second quarter 2026 financial results and a business update highlighted by progress of its lead candidate varsetatug masetecan, or Varseta-M, an EpCAM-directed antibody drug conjugate. The company expects a Phase 1 monotherapy data update in advanced colorectal cancer by the end of 2026 and plans to initiate a registrational study in the first half of 2027. Varseta-M is also being evaluated in combination with bevacizumab in late-line metastatic colorectal cancer, with a Phase 1/2 chemotherapy combination study in second-line disease set to start in the fourth quarter of 2026, and monotherapy expansion cohorts in gastric, pancreatic, and biliary tract cancers are initiating in the third quarter of 2026. CytomX expanded its Regeneron collaboration in masked bispecific immunotherapies, receiving a $37.0 million target selection payment in July 2026 for two additional programs, with total potential milestones under the collaboration now up to approximately $4.0 billion. The company reported cash, cash equivalents and investments of $330.3 million as of June 30, 2026, which does not include the $37.0 million received in July, and expects its cash runway to extend to at least the second half of 2028.

CytomX Therapeutics expanded its research collaboration with Regeneron to develop next-generation conditionally-activated bispecific cancer therapies. Under the expanded agreement, CytomX will receive a $37 million target selection payment for two new programs, and Regeneron secured an option for six additional targets, bringing the total potential value of the collaboration to approximately $4 billion in milestones plus tiered royalties. The partnership combines CytomX's PROBODY masking platform with Regeneron's Veloci-Bi technology to create treatments that remain inactive until reaching the tumor microenvironment. Regeneron will fund subsequent preclinical, clinical, and commercialization activities. The expansion builds on the companies' initial 2022 alliance.