C4 Therapeutics Q1 revenue beats estimates on Biogen milestone payment

C4 Therapeutics

12/05/2026 12:09

Overview

US biopharma firm's Q1 revenue declined yr/yr but beat analyst expectations

Adjusted EPS for Q1 beat analyst expectations

Company expanded partnership with Roche for degrader-antibody conjugate research

Outlook

Company expects cash, cash equivalents and marketable securities to fund operations to end of 2028

C4 Therapeutics plans to initiate an additional Phase 1b trial in first half of 2027

Company expects to provide update on dose escalation progress from Phase 1b trial in 2H 2026

Result Drivers

MERCK COLLABORATION END - Revenue declined mainly due to the conclusion of the Merck research collaboration and prioritization of one KRAS project under the Merck KGaA collaboration

BIOGEN MILESTONE PAYMENT - Revenue was partially offset by a $2 mln milestone earned from Biogen during Q1

Company press release: ID:nGNXbJl4kW

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$6.20 mln
$3.33 mln (6 Analysts)
Q1 EPS
Beat
-$0.20
-$0.37 (7 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "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 $7.00, about 120.8% above its May 11 closing price of $3.17

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)