C4 Therapeutics Launches Cemsidomide Trials, Reports $268.3M Cash Runway
C4 Therapeutics closed Q1 2026 with $268.3 million in cash, equivalents and marketable securities, extending its cash runway to the end of 2028, while reporting revenue of $6.2 million. The company initiated new Phase 1b and Phase 2 cemsidomide trials and received a $20 million upfront Roche collaboration payment.
1. Q1 Financial Results
C4 Therapeutics reported first-quarter 2026 revenue of $6.2 million, down from $7.2 million year-over-year. The company held $268.3 million in cash, cash equivalents and marketable securities as of March 31, providing funding through the end of 2028.
2. Clinical Development Progress
During Q1, C4 initiated a Phase 1b trial combining cemsidomide with elranatamab and advanced enrollment in the Phase 2 MOMENTUM trial of cemsidomide plus dexamethasone in relapsed refractory multiple myeloma. Planning is underway for an additional combination Phase 1b trial with approved therapies, expected to begin in the first half of 2027.
3. Roche Collaboration Expansion
In April 2026, C4 expanded its partnership with Roche through a new collaboration focused on degrader-antibody conjugates. The agreement included a $20 million upfront payment to support joint research and development of the DAC modality.