C4 Therapeutics Inc. announced its third quarter 2025 financial results and recent business highlights. The company reported the completion of an equity offering that resulted in $125 million in gross proceeds, extending its financial runway to the end of 2028. There is also potential to earn up to an additional $225 million in proceeds. The company presented Phase 1 data of cemsidomide in combination with dexamethasone in multiple myeloma, showing a 40% overall response rate at the 75 µg dose level and a 53% overall response rate at the 100 µg dose level. One patient at the 100 µg dose level achieved a minimal residual disease (MRD) negative complete response. Cemsidomide was reported to be well-tolerated with a differentiated safety and tolerability profile. C4 Therapeutics also entered into a clinical trial collaboration and supply agreement with Pfizer to evaluate cemsidomide in combination with elranatamab. The company plans to initiate a Phase 2 MOMENTUM trial in combination with dexamethasone in the first quarter of 2026 and a Phase 1b trial in combination with elranatamab in the second quarter of 2026.