CytomX posts $137M cash runway to Q2 2027 as Varseta-M shows positive CRC data
CytomX ended 2025 with $137.1M cash runway to Q2 2027 and revenues down to $76.2M from $138.1M after BMS deal completion. Varseta-M Phase 1 expansion showed positive data in advanced CRC, CytomX plans FDA registrational alignment mid-year, launched bevacizumab combo and forecasts CX-801 Keytruda data by late 2026.
1. 2025 Financial Overview
CytomX closed 2025 with $137.1 million in cash, cash equivalents and investments, extending its runway to the second quarter of 2027. Total revenue fell to $76.2 million from $138.1 million in 2024 following the completion of the Bristol Myers Squibb collaboration, while operating expenses declined to $98.6 million.
2. Varseta-M Phase 1 Progress
The EpCAM PROBODY ADC varsetatug masetecan demonstrated positive expansion cohort results in advanced colorectal cancer. CytomX targets mid-2026 FDA alignment on a registrational trial, has initiated a Phase 1 bevacizumab combination and plans a Phase 1b/2 chemotherapy study by the end of 2026.
3. CX-801 Development Update
The PROBODY interferon-alpha-2b candidate CX-801 monotherapy has been well tolerated through the fourth dose level in advanced melanoma, and combination dose escalation with Keytruda is enrolling at the second dose level. Initial proof-of-concept data for the CX-801/Keytruda combo are expected by the end of 2026.
4. Collaborations and Strategic Initiatives
CytomX maintains partnerships with Amgen, Regeneron, Bristol Myers Squibb and Moderna, while its alliance with Astellas will terminate in Q2 2026. The company continues to focus on bispecific immunotherapies and has restructured operations to reduce R&D spend, optimizing cash efficiency.