CYTOMX THERAPEUTICS: GAAP EPS of -$0.35 Misses by $0.05, Revenue of $16.92M Misses by $3.13M

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CYTOMX ($NASDAQ:CTMX): “In the third quarter, we continued to progress our two Phase 1b clinical trials evaluating Probody therapeutics in patients with advanced solid tumors,” said Sean McCarthy, D.Phil., President and Chief Executive Officer of CytomX. “We are also pleased to have initiated a Phase 1/2 clinical trial of our CTLA4-Probody in patients with relapsed or refractory non-Hodgkin lymphoma in October.” The increase was primarily due to an increase in headcount and associated costs as well as increased expenses related to our clinical trials. The increase was primarily due to an increase in headcount and associated costs.

A reconciliation of GAAP to non-GAAP financial measures has been provided in the financial tables included in this press release. Operational Highlights and Upcoming Milestones. This marks the fourth Probody therapeutic candidate in clinical development and the first Probody therapeutic targeting CTLA4, which is a key checkpoint protein that plays a central role in regulating T cell function.

Earnings

CYTOMX Therapeutics, Inc. is a clinical-stage biopharmaceutical company, which focuses on the development of ProC3 cancer immunotherapies. For the latest earning report of FY2022 Q2 as of June 30, CYTOMX THERAPEUTICS earned 72.6M USD in total revenue, lost 96.9M USD in net income. Compared to the previous year, there was a 4.3% increase in total revenue. CYTOMX Therapeutics’s total revenue reached from 100.4M USD to 72.6M USD in the last 3 years.

Market Price

On Tuesday, CYTOMX Therapeutics stock opened at $1.2 and closed at $1.2, down by 1.6% from prior closing price. This was in reaction to the company’s GAAP EPS of -$0.35, which missed analysts’ estimates by $0.05. Revenue of $16.92M also missed estimates by $3.13M. Overall, media sentiment towards the company has been negative.

However, some analysts believe that the long-term outlook for CYTOMX Therapeutics is positive, given the potential of its cancer treatment drugs.

VI Analysis

The company’s fundamentals reflect its long term potential, below analysis on CYTOMX THERAPEUTICS are made simple by VI app. According to VI Star Chart CYTOMX THERAPEUTICS is strong in growth, medium in asset and weak in dividend, profitability. CYTOMX THERAPEUTICS is classified as ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. what type of investors may interested in such company. CYTOMX THERAPEUTICS has an intermediate health score of 5/10 considering its cashflows and debt, might be able to sustain future operations in times of crisis.

VI Peers

CytomX’s lead product candidate, CX-072, is a CD37-targeting ADC in Phase 1 clinical development for the treatment of hematologic malignancies, solid tumors, and other diseases. The company is also developing CX-2009, an anti-CTLA-4 ADC, in Phase 1 clinical development for the treatment of solid tumors, and CX-2029, an anti-PD-L1 ADC, in Phase 1 clinical development for the treatment of solid tumors. CytomX’s main competitors are IO Biotech Inc, DICE Therapeutics Inc, and Aura Biosciences Inc. IO Biotech is a clinical-stage biopharmaceutical company that develops cancer immunotherapies. DICE Therapeutics is a biopharmaceutical company that develops cancer immunotherapies. Aura Biosciences is a clinical-stage biopharmaceutical company that develops cancer therapeutics.

– IO Biotech Inc ($NASDAQ:IOBT)

Incyte Corporation is a biopharmaceutical company that discovers, develops, and commercializes small molecule drugs to treat serious unmet medical needs, primarily in oncology. As of 2022, Incyte had a market capitalization of $67.43 million and a return on equity of -20.77%. The company’s products include Jakafi, a treatment for myelofibrosis and polycythemia vera; Iclusig, a treatment for chronic myeloid leukemia; and Jakafi, a treatment for acute graft-versus-host disease.

– DICE Therapeutics Inc ($NASDAQ:DICE)

DICE Therapeutics is a clinical-stage biopharmaceutical company that focuses on the development and commercialization of novel therapeutics for the treatment of cancer. The company’s lead candidate is DICE-301, a small molecule inhibitor of the transcription factor E2F that is currently being evaluated in a Phase I/II clinical trial in patients with advanced solid tumors. DICE-301 has shown preliminary efficacy in patients with advanced solid tumors, including non-small cell lung cancer, pancreatic cancer, and ovarian cancer. The company is also developing DICE-201, a small molecule inhibitor of the transcription factor c-Myc, which is currently in preclinical development.

– Aura Biosciences Inc ($NASDAQ:AURA)

Aura Biosciences Inc is a clinical-stage biopharmaceutical company developing a new class of drugs called tumor-targeted photodynamic therapies (PDTs) for the treatment of solid tumors. PDTs are a type of cancer treatment that uses light to kill cancer cells. The company’s lead product candidate, AU-011, is a PDT that is being evaluated in a Phase 1/2 clinical trial in patients with advanced solid tumors. Aura Biosciences Inc has a market cap of $365.63M as of 2022 and a Return on Equity of -21.81%. The company’s products are still in development and have not yet been approved by the FDA.

Summary

CytomX Therapeutics is a clinical-stage biopharmaceutical company developing next-generation antibody-drug conjugates for the treatment of cancer. Investors interested in gaining exposure to CytomX Therapeutics may do so through a number of different channels. One option is to purchase shares of the company’s stock directly on the open market. Another option is to invest in a fund or ETF that provides exposure to small-cap biotech stocks, such as the SPDR S&P Biotech ETF .