CytomX Therapeutics (CTMX) shares more than doubled in recent Monday trading after it reported better-than-expected Q1 results and "positive" interim trial results.

Earlier, the company posted Q1 earnings of $0.27 per diluted share, up from $0.17 a year earlier. Analysts polled by FactSet expected $0.12.

Revenue for the quarter ended March 31 was $50.9 million, up from $41.5 million a year earlier. Analysts surveyed by FactSet expected $35.5 million.

CytomX also reported "positive" interim data from a phase 1 study of CX-2051 in patients with advanced colorectal cancer. It plans phase 2 study initiation in H1 of 2026.

"CX-2051 remains the company's top strategic priority and is positioned to rapidly advance towards later stage development,"

Chief Executive Sean McCarthy said.

Separately, CytomX said it priced an underwritten offering of about 76.9 million shares at $1.30 per share to raise roughly $100 million. It expects to close the offering May 13.

Net proceeds will be used for research and development, general corporate purposes and working capital needs, the firm said.

Price: 1.91, Change: +0.98, Percent Change: +105.72