CytomX Therapeutics, Inc. Q3 FY2025 earnings call

• Welcomed Rachael Lester as Chief Business Officer. - CX-2051: Positive Phase I data in CRC, enrollment in Phase I study approaching 100 patients, planning Phase Ib study with bevacizumab in Q1 2026, assessing additional indications. - CX-801: Phase I progress in melanoma, biomarker data to be presented at SITC, monotherapy dose escalation advanced. - New program CX-908: Preclinical data presented at SITC, highlighting masked T-cell Engager potential.

As of September 30, 2025, cash, cash equivalents, and investments were $143.6 million compared to $158.1 million at the end of Q2 2025. Total revenue for the quarter was $6 million, down from $33.4 million in Q3 2024, primarily due to completion of performance obligations in the Bristol Myers Squibb collaboration. Operating expenses were $21.7 million vs. $29.3 million in Q3 2024. R&D expenses were $15.3 million, a decrease of $6.1 million, and G&A expenses were $6.4 million, a decrease of $1.5 million.

• Cash balance expected to fund operations to at least Q2 2027. - Disciplined capital allocation focused on CX-2051 and CX-801 milestones. - Planned Q1 2026 update for CX-2051, including broad progress and combination strategies. - Initiation of Phase Ib study with bevacizumab in Q1 2026.

Forward-looking statements subject to inherent uncertainties and risks outlined in SEC filings. Risks include those related to clinical development, regulatory approvals, and market acceptance of products.

Q: What should we expect from ORR and PFS in CX-2051 readout?

A: Integrated confirmed response rate was 28% in May, PFS was 5.8 months preliminary, with room for data maturation.

Q: Strategy for CX-2051 and bevacizumab combination?

A: Beginning combination study in Q1 2026, concurrent with monotherapy dose selection.

Q: Thoughts on other tumor types for CX-2051?

A: Excited about pan-tumor potential, expect updates on additional indications in 2026 while focusing on CRC.