CytomX Q1 revenue falls but beats analyst expectations

CytomX Therapeutics

07/05/2026 21:52

Overview

US oncology biopharma's Q1 revenue fell yr/yr but beat analyst expectations

Company posted a net loss for Q1, with no analyst consensus for EPS

CytomX completed $250 mln equity offering, ending Q1 with $346.7 mln in cash and investments

Outlook

Company expects data from Varseta-M dose optimization in 2H 2026 to inform registrational trial

Initial data from Varseta-M and bevacizumab combination study expected by 1H 2027

Initial clinical data for CX-801 with KEYTRUDA in advanced melanoma projected by end of 2026

Result Drivers

REVENUE DECLINE - Co said lower Q1 revenue was mainly due to completion of collaboration obligations with Bristol Myers Squibb and Amgen

R&D SPENDING - Research and development expenses rose due to increased manufacturing activities for Varseta-M

Company press release: ID:nGNXbyT0D

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$10.30 mln
$4.71 mln (8 Analysts)
Q1 EPS
-$0.10


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "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 CytomX Therapeutics Inc is $13.50, about 226.9% above its May 6 closing price of $4.13

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.)