C4 Therapeutics Q2 revenue beats estimates, helped by Roche collaboration
C4 Therapeutics Q2 revenue beats estimates, helped by Roche collaboration
Overview
US biopharma firm's Q2 revenue rose slightly, beating analyst expectations
Q2 net loss per share was $0.18, better than analyst estimates
Revenue growth driven by new Roche collaboration; expenses declined on lower personnel costs
Outlook
Company expects to complete Phase 2 MOMENTUM trial enrollment in Q1 2027
Initial Phase 2 MOMENTUM trial data expected in 2H 2027
Company expects current cash to fund operations to end of 2028
Result Drivers
ROCHE COLLABORATION - Q2 revenue growth was primarily driven by revenue recognized under the new Roche DAC collaboration agreement
LOWER PERSONNEL COSTS - Decrease in R&D and G&A expenses was mainly due to reduced personnel costs from lower stock-based compensation
Company press release: ID:nGNX2XGwkb
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $6.60 mln | $4 mln (4 Analysts) |
Q2 Loss Per Share | Beat | $0.18 | $0.23 (5 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for C4 Therapeutics, Inc. is $11.00, about 203.9% above its August 10 closing price of $3.62
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)