CTMX Earnings Prediction
The chart below shows how CTMX performed 10 days before and after its earnings report, based on data from the past quarters. Typically, CTMX sees a -4.67% change in stock price 10 days leading up to the earnings, and a -1.37% change 10 days following the report. On the earnings day itself, the stock moves by +0.93%. This data can give you a slight idea of what to expect for the next quarter's release.
CTMX Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
33.43M
26.71%
33.12%
Gross Margin
--
--
--
Operating Margin
12.30%
4.95%
-136.55%
Net Margin
17.16%
51.32%
-165.95%
EPS
0.07
75.00%
-187.50%
No Data Available
CTMX Earnings Analysis
CytomX Therapeutics, Inc. Corporation (CTMX.O) Earnings Conference Call
Positive
Revenue Surge in Q3: 1. Increased Revenue: CytomX reported revenue of $33.4 million for Q3 2024, a significant increase from $26.4 million in Q3 2023, driven primarily by collaborations with Bristol-Myers Squibb and Moderna.
Cash Reserves Stability: 2. Strong Cash Position: As of September 30, 2024, CytomX ended the quarter with $118 million in cash, cash equivalents, and investments, which is expected to fund operations through the end of 2025.
Clinical Trial Progress: 3. Advancement in Clinical Trials: The company is actively enrolling patients in the fifth dose escalation cohort of CX-2051's Phase 1 study just six months into the trial, indicating strong progress in clinical development.
Active Development Programs: 4. Promising Pipeline: CytomX has over 15 active discovery and development programs, with three currently in Phase 1 clinical development, positioning the company for multiple clinical readouts in 2025.
Colorectal Cancer Market Potential: 5. Potential Market Opportunity: CX-2051 targets EpCAM, which is highly expressed in over 90% of colorectal cancer patients, representing a significant addressable market of approximately 300,000 patients in the U.S. alone.
Negative
Cash Reserves Decline: 1. Decreased Cash Reserves: CytomX ended Q3 2024 with $118 million in cash, down from $137 million at the end of Q2 2024, indicating a decline in financial liquidity.
Rising Operating Expenses: 2. Increased Operating Expenses: Operating expenses rose to $29.3 million in Q3 2024, an increase of $6.1 million compared to Q3 2023, reflecting higher costs without a proportional increase in revenue.
R&D Expense Increase: 3. R&D Expense Growth: R&D expenses for Q3 2024 were $21.4 million, up $4.9 million from the same quarter in 2023, driven by increased clinical and manufacturing costs for CX-2051 and CX-904.
Phase 1b Decision Postponed: 4. Delayed Phase 1b Decision: The decision regarding the initiation of Phase 1b for CX-904 is postponed due to ongoing dose escalation, indicating potential delays in advancing the program.
Limited Revenue Expansion: 5. No Immediate Revenue Growth: Despite a revenue increase to $33.4 million in Q3 2024 from $26.4 million in Q3 2023, the growth was primarily due to collaborations, not from new product sales or market expansion.
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CTMX Earning Call Sentiment
CytomX Therapeutics, Inc. (CTMX) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
CTMX.O
-2.24%Positive
The earnings call reveals increased operating and R&D expenses, indicating financial strain, despite revenue growth. The Q&A highlights regulatory and clinical development risks, with management providing unclear responses on timelines. Lack of guidance on future milestones and economic uncertainties further weigh negatively. While revenue increased, the absence of clear positive catalysts or partnerships, coupled with competitive pressures and supply chain challenges, suggests a negative sentiment. The cash balance decrease and lack of immediate shareholder return plans also contribute to a negative outlook.