CytomX Reports Q1 Revenue of $10.26M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 07 2026
0mins
Reports Q1 revenue $10.26M, consensus $4.68M. "CytomX has continued to gain tremendous momentum in 2026 and we remain highly focused on executing against the multiple layers of potential value creation we see for Varseta-M. Our top priority is to advance this highly differentiated, first in class EpCAM ADC into a registrational study in late-line CRC while also investing to unlock the broader potential of Varseta-M in earlier line CRC and other cancers," said Dr. Sean McCarthy, chairman and CEO of CytomX Therapeutics."
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Analyst Views on CTMX
Wall Street analysts forecast CTMX stock price to rise
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Current: 3.760
Low
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Averages
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About CTMX
CytomX Therapeutics, Inc. is a clinical-stage, oncology-focused biopharmaceutical company. The Company is focused on developing conditionally activated, masked biologics designed to be localized to the tumor microenvironment. The Company is developing a pipeline of localized biologics, through its PROBODY therapeutic platform. Its pipeline comprises therapeutic candidates across multiple treatment modalities, including ADCs, T-cell engagers, and immune modulators such as cytokines. Its clinical-stage pipeline includes CX-2051, CX-904 and CX-801. CX-2051 is a masked, conditionally activated ADC directed toward EpCAM, armed with a topoisomerase-1 inhibitor payload. CX-904 is a masked, conditionally activated T-cell-engaging bispecific antibody targeting the EGFR on tumor cells and the CD3 receptor on T cells. CX-801 is a masked interferon alpha-2b PROBODY cytokine with broad potential applicability in traditionally immuno-oncology-sensitive as well as insensitive (cold) tumors.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
CytomX Therapeutics Q1 2026 Earnings Call Insights
- Significant Clinical Progress: CytomX's Q1 2026 earnings call highlighted excellent clinical progress with Varseta-M in late-line colorectal cancer, aiming for its inclusion in standard care, with a projected registrational study start in the first half of 2027, reflecting the company's strategic ambition in oncology.
- Strong Patient Recruitment: As of now, CytomX has completed enrollment of 40 patients in dose optimization cohorts, with a total of 113 patients enrolled, and expects to provide an overall Phase I data update in the second half of this year, which will be crucial for future FDA interactions.
- Robust Financial Position: CytomX ended Q1 2026 with $346.7 million in cash and equivalents, a significant increase from $137.1 million as of December 31, 2025, demonstrating financial stability post-financing, which supports future R&D initiatives.
- Risk Management Strategies: Management emphasized that diarrhea is the principal adverse event of Varseta-M, and through updated patient management strategies, they expect to substantially reduce the incidence of high-grade diarrhea, indicating proactive risk mitigation efforts.
See More
Investment Analysis of Small vs. Large Healthcare Stocks
- Small-Cap Potential: CytomX Therapeutics, a clinical-stage company with a market cap of around $1 billion, focuses on cancer treatments and has seen its stock price skyrocket over 625% in the past year; however, it faces risks with no approved drugs and a reported net loss exceeding $20 million in 2025, highlighting the volatility of investing in smaller firms.
- Market Risks: Despite the significant price increase over the past year, CytomX's stock has dropped roughly 40% over the last five years, indicating that investors holding the stock for over four years may be facing losses, which underscores the inherent risks of small-cap healthcare investments.
- Large-Cap Stability: Johnson & Johnson, with a towering market cap of about $545 billion, achieved sales of $88.8 billion in 2024, with projections to grow to between $99.5 billion and $100.5 billion in 2026, showcasing its stable revenue streams and strong market position.
- Consistent Dividends: Johnson & Johnson not only provides stable income but has also increased its dividend for 64 consecutive years; while its sales growth may not match that of small-cap stocks, its stability and profitability make it an ideal choice for investors seeking stability and income.
See More
Investment Comparison: Small vs. Large Healthcare Stocks
- Small-Cap Potential: CytomX Therapeutics, a clinical-stage company with a market cap of around $1 billion, focuses on cancer treatments and has seen its stock price soar over 625% in the past year; however, with no approved drugs and a reported net loss of over $20 million in 2025, it exemplifies the high-risk, high-reward nature of small-cap investments.
- Investment Risks: While CytomX's stock has surged recently, it has dropped approximately 40% over the past five years, highlighting the volatility risks associated with early-stage companies, necessitating careful consideration of holding periods and potential losses by investors.
- Large-Cap Stability: Johnson & Johnson, with a market cap of about $545 billion, achieved sales of $88.8 billion in 2024, projected to rise to between $99.5 billion and $100.5 billion in 2026, showcasing a reliable revenue stream and the ability to consistently pay dividends, having increased its payout for 64 consecutive years.
- Investment Strategy Choice: Choosing between small-cap and large-cap stocks hinges on investors' goals and risk tolerance, with small-caps appealing to those seeking high returns and large-caps better suited for those prioritizing stability and income.
See More
CytomX Therapeutics Secures $250 Million Offering Amid Analyst Optimism
- Significant Financing: CytomX Therapeutics priced an underwritten public offering of 45,990,567 common shares at $5.30 each on March 17, 2026, expected to generate approximately $250 million in gross proceeds before discounts and expenses, enhancing the company's liquidity.
- Analyst Optimism: As of April 8, 2026, all covering analysts rate CytomX as a “Buy,” with a consensus price target of $12 indicating a 179.07% upside, reflecting strong market confidence in its future performance.
- Clear Use of Proceeds: The funds raised will be allocated for working capital, capital expenditures, general corporate purposes, and the development of Varseta-M and other pipeline programs, indicating greater flexibility in advancing clinical projects.
- Market Potential: CytomX focuses on developing conditionally activated biologics targeting the tumor microenvironment, including antibody-drug conjugates and T-cell engagers, and with the completion of this financing, the company’s competitiveness in oncology and preclinical applications will be further strengthened.
See More
CytomX Therapeutics Price Target Raised by Analysts
- Analyst Target Increases: Guggenheim raised its price target for CytomX Therapeutics from $10 to $15 while maintaining a ‘Buy’ rating, reflecting confidence in the company's growth prospects.
- Significant Market Opportunity: Jefferies analysts see a market opportunity of up to $5 billion for Varseta-M in late-line metastatic colorectal cancer, indicating the drug's substantial potential in the treatment landscape.
- Optimistic Trial Data: CytomX's early-stage trial data for Varseta-M revealed a 32% response rate at higher doses, with manageable side effects, further bolstering market confidence in the drug's efficacy.
- FDA Engagement Plans: CytomX plans to engage with the FDA mid-year to align on a potential registrational study, demonstrating the company's proactive approach to advancing Varseta-M towards market approval.
See More
CytomX Therapeutics Prices Public Offering
- Public Offering Pricing: CytomX Therapeutics announced the pricing of its public offering of securities, although specific amounts were not disclosed, this move aims to provide funding for the company's future research and operations.
- Use of Funds: The offering is expected to supply the necessary capital to drive innovation in antibody drug development, particularly in cancer treatment solutions.
- Market Reaction: The market's response to this offering remains unclear, and investors should monitor subsequent market dynamics and the company's future financial performance.
- Strategic Implications: Through this public offering, CytomX aims to strengthen its capital structure and enhance its market competitiveness to secure a more advantageous position in the biopharmaceutical industry.
See More
CytomX Therapeutics Q1 2026 Earnings Call Insights
- Significant Clinical Progress: CytomX's Q1 2026 earnings call highlighted excellent clinical progress with Varseta-M in late-line colorectal cancer, aiming for its inclusion in standard care, with a projected registrational study start in the first half of 2027, reflecting the company's strategic ambition in oncology.
- Strong Patient Recruitment: As of now, CytomX has completed enrollment of 40 patients in dose optimization cohorts, with a total of 113 patients enrolled, and expects to provide an overall Phase I data update in the second half of this year, which will be crucial for future FDA interactions.
- Robust Financial Position: CytomX ended Q1 2026 with $346.7 million in cash and equivalents, a significant increase from $137.1 million as of December 31, 2025, demonstrating financial stability post-financing, which supports future R&D initiatives.
- Risk Management Strategies: Management emphasized that diarrhea is the principal adverse event of Varseta-M, and through updated patient management strategies, they expect to substantially reduce the incidence of high-grade diarrhea, indicating proactive risk mitigation efforts.
See More
Investment Analysis of Small vs. Large Healthcare Stocks
- Small-Cap Potential: CytomX Therapeutics, a clinical-stage company with a market cap of around $1 billion, focuses on cancer treatments and has seen its stock price skyrocket over 625% in the past year; however, it faces risks with no approved drugs and a reported net loss exceeding $20 million in 2025, highlighting the volatility of investing in smaller firms.
- Market Risks: Despite the significant price increase over the past year, CytomX's stock has dropped roughly 40% over the last five years, indicating that investors holding the stock for over four years may be facing losses, which underscores the inherent risks of small-cap healthcare investments.
- Large-Cap Stability: Johnson & Johnson, with a towering market cap of about $545 billion, achieved sales of $88.8 billion in 2024, with projections to grow to between $99.5 billion and $100.5 billion in 2026, showcasing its stable revenue streams and strong market position.
- Consistent Dividends: Johnson & Johnson not only provides stable income but has also increased its dividend for 64 consecutive years; while its sales growth may not match that of small-cap stocks, its stability and profitability make it an ideal choice for investors seeking stability and income.
See More
Investment Comparison: Small vs. Large Healthcare Stocks
- Small-Cap Potential: CytomX Therapeutics, a clinical-stage company with a market cap of around $1 billion, focuses on cancer treatments and has seen its stock price soar over 625% in the past year; however, with no approved drugs and a reported net loss of over $20 million in 2025, it exemplifies the high-risk, high-reward nature of small-cap investments.
- Investment Risks: While CytomX's stock has surged recently, it has dropped approximately 40% over the past five years, highlighting the volatility risks associated with early-stage companies, necessitating careful consideration of holding periods and potential losses by investors.
- Large-Cap Stability: Johnson & Johnson, with a market cap of about $545 billion, achieved sales of $88.8 billion in 2024, projected to rise to between $99.5 billion and $100.5 billion in 2026, showcasing a reliable revenue stream and the ability to consistently pay dividends, having increased its payout for 64 consecutive years.
- Investment Strategy Choice: Choosing between small-cap and large-cap stocks hinges on investors' goals and risk tolerance, with small-caps appealing to those seeking high returns and large-caps better suited for those prioritizing stability and income.
See More
CytomX Therapeutics Secures $250 Million Offering Amid Analyst Optimism
- Significant Financing: CytomX Therapeutics priced an underwritten public offering of 45,990,567 common shares at $5.30 each on March 17, 2026, expected to generate approximately $250 million in gross proceeds before discounts and expenses, enhancing the company's liquidity.
- Analyst Optimism: As of April 8, 2026, all covering analysts rate CytomX as a “Buy,” with a consensus price target of $12 indicating a 179.07% upside, reflecting strong market confidence in its future performance.
- Clear Use of Proceeds: The funds raised will be allocated for working capital, capital expenditures, general corporate purposes, and the development of Varseta-M and other pipeline programs, indicating greater flexibility in advancing clinical projects.
- Market Potential: CytomX focuses on developing conditionally activated biologics targeting the tumor microenvironment, including antibody-drug conjugates and T-cell engagers, and with the completion of this financing, the company’s competitiveness in oncology and preclinical applications will be further strengthened.
See More
CytomX Therapeutics Price Target Raised by Analysts
- Analyst Target Increases: Guggenheim raised its price target for CytomX Therapeutics from $10 to $15 while maintaining a ‘Buy’ rating, reflecting confidence in the company's growth prospects.
- Significant Market Opportunity: Jefferies analysts see a market opportunity of up to $5 billion for Varseta-M in late-line metastatic colorectal cancer, indicating the drug's substantial potential in the treatment landscape.
- Optimistic Trial Data: CytomX's early-stage trial data for Varseta-M revealed a 32% response rate at higher doses, with manageable side effects, further bolstering market confidence in the drug's efficacy.
- FDA Engagement Plans: CytomX plans to engage with the FDA mid-year to align on a potential registrational study, demonstrating the company's proactive approach to advancing Varseta-M towards market approval.
See More
CytomX Therapeutics Prices Public Offering
- Public Offering Pricing: CytomX Therapeutics announced the pricing of its public offering of securities, although specific amounts were not disclosed, this move aims to provide funding for the company's future research and operations.
- Use of Funds: The offering is expected to supply the necessary capital to drive innovation in antibody drug development, particularly in cancer treatment solutions.
- Market Reaction: The market's response to this offering remains unclear, and investors should monitor subsequent market dynamics and the company's future financial performance.
- Strategic Implications: Through this public offering, CytomX aims to strengthen its capital structure and enhance its market competitiveness to secure a more advantageous position in the biopharmaceutical industry.
See More
