C4 Therapeutics’ Price Target Raised to $30 as Phase 2 Trial Doses First Patient and Issues 85,480 Options
Brookline raised C4 Therapeutics' price target from $20 to $30 as the first patient was dosed in the Phase 2 cemsidomide/dexamethasone MOMENTUM trial and a Phase 1b cemsidomide/elranatamab study begins in Q2. Company approved inducement grant of 85,480 stock options at its March 9 closing price, vesting over four years.
1. Price Target Increase and Trial Progress
On February 23, Brookline Capital boosted C4 Therapeutics’ price target from $20 to $30, reflecting confidence in the safety and tolerability profile of cemsidomide. That same day the first patient was dosed in the Phase 2 MOMENTUM trial evaluating cemsidomide with dexamethasone for relapsed or refractory multiple myeloma, with a Phase 1b cemsidomide/elranatamab combination study slated to begin in the second quarter.
2. Inducement Grant Details
On March 9, the board approved an inducement grant of 85,480 non-qualified stock options to a new employee, exercisable at the closing price of that date. The options vest over a four-year period, with 25% vesting at the first anniversary and the remainder vesting in equal monthly installments thereafter.