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
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.