Refile: CytomX posts 2025 loss as revenue falls bigger-than-expected 45%

CytomX Therapeutics

16/03/2026 11:16

Removes extraneous word in second bullet of Overview section

Overview

US oncology biopharma's 2025 revenue fell about 45% and missed analyst expectations

Company posted a net loss for 2025 as decline in operating expenses was not enough to offset drop in revenue

Positive Phase 1 data for Varseta-M in colorectal cancer, FDA interactions targeted for 2026

Outlook

CytomX aims to align with FDA in 2026 on potential Varseta-M registrational study design for CRC

Company expects initial CX-801 and KEYTRUDA combination data in melanoma by end of 2026

CytomX expects cash runway to last until second quarter of 2027

Result Drivers

COLLABORATION REVENUE DECLINE - Revenue fell mainly due to completion of obligations in the Bristol Myers Squibb collaboration and lower estimated completion in Moderna, Astellas, and Regeneron collaborations

COST CONTROL - Operating expenses declined after a January 2025 restructuring and reduced spending on CX-904, partially offset by higher manufacturing and clinical costs for Varseta-M

Company press release: ID:nGNX94mg7K

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
Miss
$76.20 mln
$83.48 mln (9 Analysts)
FY Net Income
-$17.37 mln
FY Cash & Investments
$124.39 mln
FY Operating Expenses
$98.57 mln
FY Operating Income
-$22.36 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 1 "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 $10.00, about 113.7% above its March 13 closing price of $4.68

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.)