CytomX Therapeutics (CTMX) Jefferies Global Healthcare Conference 2026 summary

Platform and strategic collaborations

• Probody therapeutic platform enables masking of therapeutic antibodies, positioning as a leader in this field.

• Announced a major expansion of the immunotherapy bispecifics collaboration with Regeneron, including two new targets and a $37 million upfront payment.

• Eligible for up to $4 billion in R&D, development, and commercial milestones from the Regeneron deal, now covering about 10 targets.

• Regeneron may select up to six additional targets, further strengthening financials over the next few years.

• Raised nearly $400 million in equity-based and non-dilutive capital in the past year.

Lead program: Varseta-M (CX-2051) clinical progress

• Varseta-M, an anti-EpCAM ADC, shows strong activity in late-line colorectal cancer, with pan-tumor potential.

• Phase I data: response rates of 20%-32% in heavily pretreated (4th/5th line) CRC patients, compared to 1%-2% for standard of care.

• Median progression-free survival reached seven months, a significant improvement over the typical two to three months.

• No EpCAM-related toxicities observed; main adverse event is Grade 3 diarrhea, reduced from 20% to 10% with dual prophylaxis (loperamide and budesonide).

• Dose optimization cohorts focus on 8.6 and 10 mg/kg every three weeks, with ongoing efforts to refine dosing and AE management.

Forward-looking development and regulatory plans

• Planning to launch the first registrational trial for Varseta-M in the first half of 2027.

• Next phase I update by year-end will include data from 113 patients and a 40-patient dose optimization cohort.

• Ongoing discussions with FDA to finalize dose selection and registrational strategy.

• Considering late-line (4th line) and third-line registrational studies, with potential for faster market entry via the 4th line.

• Combination studies with bevacizumab and chemotherapy are underway to move Varseta-M into earlier lines of therapy.