CytomX ended Q1 2026 with $346.7 million in cash, cash equivalents and investments, up from $137.1 million at year-end 2025 following a $250 million equity offering in March. Total revenue fell to $10.3 million from $50.9 million in Q1 2025, driven by completed performance obligations, while operating expenses rose slightly to $29.9 million.

The company completed enrollment of 40 patients in the Varseta-M Phase 1 dose optimization cohorts at 8.6 mg/kg and 10 mg/kg Q3W, aiming to finalize monotherapy dose selection. Additional dose optimization data are expected in the second half of 2026, supporting a potential registrational study in late-line colorectal cancer planned to start in H1 2027.

Varseta-M combination studies include an ongoing Phase 1 trial with bevacizumab, with initial data due by H1 2027, and a Phase 1/2 chemotherapy combination study set to initiate in H2 2026. In other programs, CX-801 in advanced melanoma is progressing through dose escalation and combinations with pembrolizumab, while collaborations with Amgen, Regeneron and Moderna advance research in immunotherapies.