C4 Therapeutics rises after quarterly revenue beat
CCCC•Quarterly loss narrower than expected
C4 reported a Q2 loss of 18 cents per share versus analysts' average loss estimate of 23 cents per share, according to LSEG data.
Including the session's move, the stock was up 89.5% year to date.
Collaboration with Roche boosts revenue
C4 said the boost was primarily related to revenue recognized under the new collaboration agreement with Swiss drugmaker Roche ROPC.S.
The companies are partnering to create highly targeted cancer drugs, combining two different technologies to make a new kind of medicine called a Degrader-Antibody Conjugate.
Shares rise after revenue beats estimates
Shares of drug developer C4 Therapeutics CCCC.O rose 2.5% to $3.68 after the company reported quarterly revenue that topped analysts' expectations.
C4 said its Q2 revenue of $6.6 million beat analysts' average expectation of $4 million.
