C4 Therapeutics (CCCC) investor relations material

Clinical pipeline and development milestones

• Advancing two clinical degraders: cemsidomide for multiple myeloma (MM) and CFT8919 for non-small cell lung cancer (NSCLC).

• Cemsidomide is in Phase 2 (MOMENTUM trial) for 4L+ MM and Phase 1b in combination with elranatamab for 2L+ MM, with enrollment expected to complete in Q1 2027.

• Initial Phase 2 ORR data for cemsidomide expected in 2H 2027, with a new drug application submission targeted by end of 2028.

• Discovery strategy now focuses on inflammation, neuroinflammation, and neurodegeneration (INN) with plans to deliver up to three INDs by 2028.

• Cash runway projected through end of 2028, supporting execution beyond key value inflection points.

Cemsidomide clinical and commercial potential

• Cemsidomide shows a best-in-class profile among IKZF1/3 degraders, with a differentiated safety and efficacy profile in heavily pre-treated MM patients.

• Demonstrated 53% ORR at the highest dose and 36% ORR across all doses in Phase 1, with minimal dose reductions and no discontinuations related to the drug.

• Positioned for accelerated approval in both 2L+ (in combination) and 4L+ (with dexamethasone) MM settings.

• Estimated peak revenue opportunity for cemsidomide is $2.5–$4B, with potential to increase through additional combinations.

• Addresses a large and growing MM market, with high unmet need in later lines of therapy.

Strategic collaborations and discovery platform

• Ongoing collaborations with Roche, Merck KGaA, and Biogen have advanced multiple programs to preclinical and clinical milestones.

• Delivered two development candidates (IRAK4 and BTK) for non-oncology targets, both now in Phase 1 clinical development.

• By year-end 2026, at least one new development candidate is expected to be delivered to a collaboration partner.

• Discovery platform leverages targeted protein degradation (TPD) for CNS-penetrant degraders in INN diseases.

• Focused on targets in validated pathways (IL-23/IL-17, Type 1 IFN, MAPK, PI3K/AKT, NF-kB) with broad application to CNS and inflammatory diseases.