CytomX Therapeutics, Inc. (CTMX) Earnings
CytomX Therapeutics, Inc. is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $-0.11. CTMX has beaten EPS estimates in 5 of its last 12 reported quarters (average surprise -33.5% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-0.14 | $-0.10 | +28.6% | $10M | +119.1% |
| Mar 16, 2026 | $-0.09 | $-0.22 | -135.7% | $663000 | -89.4% |
| Nov 6, 2025 | $-0.04 | $-0.09 | -125.0% | $6M | -18.6% |
| Aug 7, 2025 | $-0.06 | $-0.00 | +98.0% | $19M | +2.1% |
| Mar 6, 2025 | $-0.23 | $0.22 | +195.7% | $38M | +192.1% |
| Nov 7, 2024 | $-0.17 | $0.07 | +141.2% | $33M | +147.0% |
| Mar 11, 2024 | $0.00 | $0.01 | +134.7% | $27M | +26.5% |
| Aug 4, 2022 | $-0.36 | $-0.37 | -2.8% | $18M | +0.3% |
| May 5, 2022 | $-0.35 | $-0.37 | -5.7% | $17M | -19.3% |
| Mar 1, 2022 | $-0.25 | $-0.40 | -60.0% | $20M | +0.8% |
| Nov 4, 2021 | $-0.30 | $-0.35 | -16.7% | $18M | +1.0% |
| Aug 5, 2021 | $-0.26 | $-0.30 | -15.4% | $16M | +0.0% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
1. Sean McCarthy introduced the update on first quarter developments and guidance. Varsetta-M, a first-in-class EPCAM-targeting ADC, has excellent clinical progress. It showed confirmed overall response rate between 20 - 32% and approximately seven months of median progression-free survival in late-line metastatic CRC. Enrollment in dose optimization cohorts for Varsetta-M is complete with 40 total patients enrolled at 8.6 and 10 mg per kilogram doses, total phase one study enrollment at 113 patients. They aim to advance into a registrational study in late-line CRC in first half of 2027. Safety of Varsetta-M has shown potential to reduce high-grade diarrhea with updated patient management strategies. They are advancing Varsetta-M into combination studies, including with Bevacizumab and chemotherapy. For CX801, a masked interferon alpha 2B program in phase one development for advanced checkpoint refractory melanoma, ongoing dose escalation and combination dose escalation with Keytruda are progressing. 2. Chris Ogden walked through first quarter financial results. As of March 31, 2026, cash, cash equivalents, and investments were $346.7 million vs $137.1 million on Dec 31, 2025. Total revenue was $10.3 million vs $50.9 million in first quarter 2025. Operating expenses were $29.8 million vs $28.3 million in first quarter 2025. R&D expenses were $19.2 million, G&A expenses were $10.6 million.
Guidance
1. Projected cash runway to at least second half of 2028. 2. Expect to advance Varsetta-M into a registrational study in late-line CRC, deliver safety and efficacy data for Varsetta-M in combination with Bevacizumab and chemotherapy, and deliver initial clinical data for Varsetta-M in indications beyond CRC. 3. Capital allocation to be highly focused on Varsetta-M over near to medium term.
Analyst Q&A
Q: For Vercetta, talk about the scope of the clinical update in the second half, including PFS subgroups and OS disclosures.
A: Update in second half will be substantial, including data from full 40 patient optimization phase. Expect reasonable follow-up for PFS, will communicate patient population demographics, and anticipate first look at OS in the update.
Q: On the one-two chemo combo, nature of combination and prioritization of new Epcam-positive tumors.
A: Will evaluate Varsetta-M plus chemo plus Bev combination, don't see data from Varsetta-M plus Bev as gating to starting that work in second half. Prioritization of new Epcam-positive tumors involves working through and communicating more specificity later.
Q: To what extent reaching alignment on PIVO trial design is gated on seeing dose optimization update later this year.
A: Data from optimization cohorts will be central to conversations on dose selection for first pivotal study, next comprehensive update will include guidance on pivotal study design.
Q: Dose decision logic for 8.6 vs 10 mg per kg.
A: Both doses have great potential, efficacy metrics like ORR are important, will evaluate based on multiple metrics including efficacy and safety, with OS likely being primary endpoint in pivotal study.
Q: Second half data disclosure details, including breakout of tolerability and efficacy for optimization cohort, timing, and combination with Bev.
A: Plan to break out tolerability and efficacy for 40 patients in optimization cohort, PFS expected, OS may be immature initially. For combination with Bev, no additional formulation work needed, just adjusting dosing schedule to match Bev's clinical use.
Q: Emerging competitive profile for Varsetta-M versus other ADCs and if it's winner-takes-all.
A: Don't see it as winner-takes-all, Varsetta-M is first-in-class with ProBody therapeutic platform, has potential to be best in class for colorectal cancer.
Q: Update on grade 3 or higher diarrhea in optimized population and standardization of prophylaxis practice.
A: Data on grade 3 or higher diarrhea will be shared later in year, goal is to manage into 10 to 20% range. Prophylaxis practice is being standardized for translation into community oncology setting.