C4 Therapeutics rallies after premium-priced $125 mln equity offering

C4 Therapeutics

16/10/2025 18:59

** Shares of C4 Therapeutics CCCC.O up 25% to $2.78 on Thurs after co raises equity at a premium

    ** Massachusetts-based biopharma firm early Thurs said it sold about 50.6 mln shares, including about 28.7 mln pre-funded warrants, to a select group of investors for $125 mln gross raise

    ** Combined offering price of $2.47 compares to stock's last sale of $2.22 on Weds

    ** If all accompanying warrants and pre-funded warrants are exercised, C4 could raise about $350 mln

    ** It intends to use net offering proceeds to primarily fund clinical trials of its drug cemsidomide, and other R&D activities

    ** Earlier this month, co said it's partnered with Pfizer PFE.N to test cemsidomide with Pfizer's elranatamab in patients with multiple myeloma, a type of blood cancer

    ** C4 has ~71.2 mln shares outstanding

    ** Jefferies, TD Cowen and Evercore acting as joint bookrunners for the offering

** With the advance on the session, CCCC down 23% YTD

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))