CytomX Therapeutics (Nasdaq:
CTMX) announced on March 16, 2026, an underwritten public offering of $250.0 million of common stock and pre-funded warrants1
The company granted underwriters a 30-day option to purchase up to an additional $37.5 million of shares of common stock at the public offering price, less underwriting discounts and commissions1
Net proceeds are expected to fund continued development of Varseta-M and other pipeline programs, with remaining proceeds allocated to capital expenditures, working capital, and general corporate purposes1
Varseta-M is a masked antibody-drug conjugate directed toward epithelial cell adhesion molecule (EpCAM) being developed for metastatic colorectal cancer3
Jefferies, Piper Sandler, Cantor, and Barclays are serving as joint bookrunning managers, with Wedbush PacGrow acting as co-manager1
A shelf registration statement (Form S-3ASR) was filed with the SEC on March 16, 2026, and became effective upon filing2
CytomX's clinical pipeline also includes CX-801, a masked interferon alpha-2b cytokine being developed for metastatic melanoma3
The company reported a confirmed overall response rate of 32% for CX-2051 at a 10 mg/kg dose with a median progression-free survival of 7.1 months, leading Oppenheimer to raise its price target to $12.003
Sources:
1. https://www.globenewswire.com/news-release/2026/03/16/3256708/37704/en/CytomX-Therapeutics-Announces-Proposed-Public-Offering-of-Common-Stock-and-Pre-Funded-Warrants.html
2. https://www.stocktitan.net/news/CTMX/cytom-x-therapeutics-announces-proposed-public-offering-of-common-2e9enm7u8dt0.html
3. https://www.investing.com/news/company-news/cytomx-launches-250m-public-offering-to-fund-drug-development-93CH-4563705