Cytomx Therap | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 10.26 M
I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2026 Q1, the actual value is USD 10.26 M, beating the estimate of USD 4.683 M.
EPS: As of FY2026 Q1, the actual value is USD -0.1.
EBIT: As of FY2026 Q1, the actual value is USD -21.16 M.
Q1 2026 Financial Results
Total Revenue
[CytomX Therapeutics, Inc.] reported total revenue of $10.3 million for the first quarter ended March 31, 2026, a decrease compared to $50.9 million for the first quarter of 2025 . This decline was primarily due to the completion of performance obligations in collaborations during 2025 .
Operational Expenses
Total operating expenses increased to $29.9 million for Q1 2026 from $28.3 million in Q1 2025 . Research and Development Expenses: Rose to $19.2 million in Q1 2026, up from $18.9 million in Q1 2025 . General and Administrative Expenses: Increased to $10.7 million in Q1 2026 from $9.4 million in Q1 2025 .
Income/Loss from Operations
The company reported an income loss from operations of - $19.672 million for Q1 2026, a shift from an income of $22.621 million in Q1 2025 .
Interest Income
Interest income for Q1 2026 was $1.490 million, an increase from $0.955 million in Q1 2025 .
Net Income/Loss Attributable to Common Stockholders
Net loss attributable to common stockholders was - $18.248 million for Q1 2026, compared to a net income of $23.525 million for Q1 2025 .
Balance Sheet Highlights (as of March 31, 2026)
Cash, Cash Equivalents and Investments
Cash, cash equivalents and investments totaled $346.7 million, significantly up from $137.1 million as of December 31, 2025 . This increase includes $234.2 million in net proceeds from an equity follow-on offering completed in March 2026, which generated gross proceeds of $250 million .
Total Assets
Total assets were $359,358 thousand as of March 31, 2026, compared to $151,566 thousand as of December 31, 2025 .
Total Liabilities
Total liabilities decreased to $39,414 thousand as of March 31, 2026, from $52,558 thousand as of December 31, 2025 .
Total Stockholders’ Equity
Total stockholders’ equity increased to $319,944 thousand as of March 31, 2026, from $99,008 thousand as of December 31, 2025 .
Outlook
[CytomX Therapeutics, Inc.] expects its cash runway to extend to at least the second half of 2028 . Additional Phase 1 Varseta-M data is anticipated in the second half of 2026 to inform monotherapy dose selection and potential registrational trial design in late-line colorectal cancer . The company plans FDA interactions in 2026 to align on the potential first registrational study for Varseta-M monotherapy in advanced colorectal cancer, aiming to start in the first half of 2027, and projects initial clinical data for CX-801 in combination with KEYTRUDA® in advanced melanoma by the end of 2026 .