C4 Therapeutics (CCCC) Barclays 28th Annual Global Healthcare Conference summary

Company overview and strategic focus

• Focuses on targeted protein degradation to address high unmet medical needs, with two clinical programs: cemsidomide for multiple myeloma and CFT8919 for non-small cell lung cancer.

• Cemsidomide is in Phase 2 (MOMENTUM) for multiple myeloma, with a Phase 1B combination study with elranatamab starting in Q2.

• CFT8919 is in Phase 1 in China, targeting EGFR L858R mutations; data expected this quarter to inform next steps.

• Discovery efforts include internal programs in inflammation, neuroinflammation, and neurodegeneration, plus collaborations with Roche, Merck KGaA, and Biogen.

• Financial runway extends through 2028, supporting key milestones including MOMENTUM data in 2027.

Clinical data and development plans

• Cemsidomide shows a potential best-in-class profile with optimized catalytic activity, selectivity, and pharmacokinetics, dosed in micrograms.

• First-in-human study showed a 53% response rate in heavily pretreated multiple myeloma patients, including those exposed to CAR-T and T-cell engagers.

• Demonstrated meaningful anti-myeloma responses at all dose levels with a favorable safety profile and a 48-hour half-life.

• MOMENTUM trial is global (US and Western Europe), enrolling fourth-line-plus patients, with regulatory intent and independent safety monitoring.

• Study powered to detect a 40%+ response rate with at least six months' duration, aiming for accelerated approval.

Differentiation and competitive landscape

• Cemsidomide is positioned as the only IKZF1/3 degrader with robust post-BCMA activity and high response rates in patients previously treated with advanced therapies.

• The growing late-line multiple myeloma population due to earlier use of CAR-T and BiTEs expands the addressable market.

• Combination with elranatamab aims to enhance depth and durability of response, leveraging immune modulation and lessons from prior BiTE combination studies.

• Optimized dosing schedule (14 days on/14 days off) is tailored to cemsidomide’s pharmacology, differentiating it from competitors with shorter half-lives.