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C4 Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops novel therapeutic candidates to degrade disease-causing proteins. Its lead product candidate is Cemsidomide, an orally bioavailable monodac targeting IKZF1 and IKZF3, or IKZF1/3 to address a need across multiple lines of therapy in multiple myeloma, which has competed its phase 1. The company is also developing oncology product candidate, CFT8919, an orally bioavailable, allosteric, mutant-selective bidac degrader of epidermal growth factor receptor, with an L858R mutation in non-small cell lung cancer; and new degraders focused on inflammation, neuroinflammation, and neurodegeneration. It has strategic collaborations F. Hoffmann-La Roche Ltd and Hoffmann-La Roche Inc., Betta Pharmaceuticals Co. Ltd., and Merck KGAA. Additionally, it has a collaboration agreement with Roche Holding AG for the development of Degrader-Antibody Conjugates for cancer treatment. The company was incorporated in 2015 and is headquartered in Watertown, Massachusetts.
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C4 Therapeutics develops small-molecule targeted protein degraders intended to eliminate disease-causing proteins, primarily for oncology and other serious diseases. Long-term growth may be driven by advancement of its clinical-stage programs, expansion of its discovery platform to new targets, and collaborations that could support pipeline funding and development. Investors may find the company attractive because targeted protein degradation appears positioned to address previously intractable targets and could generate multiple development opportunities from a single platform.
The most important investment risks are high clinical and regulatory uncertainty, substantial cash burn with potential dilution, and intense competition in the targeted degradation and oncology spaces.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | -104.87M | -105.19M | -131.21M | -128.18M | -83.89M |
| Net income | -104.99M | -105.32M | -132.49M | -126.50M | -86.04M |
| Selling general administrative | 36.20M | 42.12M | 42.08M | 42.79M | 33.25M |
| Selling and marketing expenses | - | - | 7.74M | - | - |
| Gross profit | 27.97M | 35.58M | 13.02M | 31.10M | 45.78M |
| Reconciled depreciation | 1.96M | 1.82M | 1.97M | 1.68M | 1.49M |
| Ebit | -104.87M | -105.19M | -129.84M | -129.53M | -82.13M |
| Ebitda | -102.91M | -103.37M | -122.10M | -125.96M | -80.25M |
| Depreciation and amortization | 1.96M | 1.82M | 7.74M | 3.58M | 1.88M |
| Non operating income net other | - | - | - | -2.00M | -2.55M |
| Operating income | -104.49M | -119.61M | -139.03M | -129.53M | -82.13M |
| Other operating expenses | 140.44M | 155.20M | 159.79M | 160.63M | 127.92M |
| Interest expense | - | 0.00M | 1.37M | 2.22M | 2.15M |
| Tax provision | 0.12M | 0.13M | 1.28M | - | 0.00M |
| Interest income | 10.35M | 14.43M | 8.57M | 3.58M | 0.39M |
| Net interest income | 10.35M | 14.43M | 6.60M | 1.36M | -1.76M |
| Income tax expense | 0.12M | 0.13M | 1.28M | -1.68M | 2.15M |
| Total revenue | 35.95M | 35.58M | 20.76M | 31.10M | 45.78M |
| Total operating expenses | 132.46M | 155.20M | 152.05M | 160.63M | 127.92M |
| Cost of revenue | 7.97M | 7.89M | 7.74M | - | - |
| Total other income expense net | -0.38M | 14.43M | 7.82M | 1.36M | -1.76M |
| Net income from continuing ops | -104.99M | -105.32M | -134.92M | -128.18M | -83.89M |
| Net income applicable to common shares | - | - | - | -128.18M | -83.89M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 359.07M | 349.60M | 376.45M | 430.84M | 506.76M |
| Other current assets | 7.17M | 9.76M | 5.71M | 9.93M | 10.69M |
| Total liab | 102.49M | 133.62M | 130.34M | 141.61M | 117.16M |
| Total stockholder equity | 256.59M | 215.99M | 246.11M | 289.23M | 389.61M |
| Deferred long term liab | - | - | - | - | 24.37M |
| Other current liab | 13.31M | 19.36M | 20.63M | 2.87M | 13.61M |
| Common stock | 0.01M | 0.01M | 0.01M | 0.01M | 0.01M |
| Capital stock | 0.01M | 0.01M | 0.01M | 0.01M | 0.01M |
| Retained earnings | -738.69M | -633.70M | -528.38M | -395.89M | -267.71M |
| Other liab | - | - | - | 16.89M | 24.37M |
| Other assets | - | - | - | 4.80M | 3.82M |
| Cash | 74.60M | 55.50M | 126.59M | 29.75M | 76.12M |
| Total current liabilities | 33.03M | 45.18M | 42.77M | 44.55M | 51.25M |
| Current deferred revenue | 12.49M | 18.71M | 15.47M | 33.51M | 31.80M |
| Net debt | -14.62M | 10.26M | -55.61M | 57.40M | -33.24M |
| Short term debt | 6.37M | 5.77M | 5.22M | 6.99M | 1.33M |
| Short long term debt | - | - | - | 2.29M | - |
| Short long term debt total | 59.98M | 65.76M | 70.98M | 87.15M | 42.88M |
| Other stockholder equity | 995.22M | 849.62M | 774.62M | 689.26M | 658.09M |
| Property plant equipment | - | - | - | 7.40M | 3.11M |
| Total current assets | 258.11M | 257.77M | 271.19M | 287.56M | 325.69M |
| Long term investments | 48.56M | 22.36M | 28.01M | 60.96M | 142.20M |
| Net tangible assets | - | - | - | 289.23M | 389.61M |
| Short term investments | 173.93M | 189.41M | 127.09M | 246.40M | 233.16M |
| Net receivables | 2.40M | 3.10M | 11.80M | 1.47M | 5.72M |
| Long term debt | - | - | - | 9.20M | 10.77M |
| Inventory | - | - | - | -60.96M | - |
| Accounts payable | 0.86M | 1.33M | 1.45M | 1.17M | 4.51M |
| Accumulated other comprehensive income | 0.05M | 0.05M | -0.13M | -4.14M | -0.78M |
| Common stock total equity | - | - | - | 0.01M | 0.01M |
| Retained earnings total equity | - | - | - | -395.89M | -267.71M |
| Non currrent assets other | 55.69M | 6.10M | 2.72M | 4.80M | 3.82M |
| Non current assets total | 100.97M | 91.83M | 105.26M | 143.28M | 181.08M |
| Capital lease obligations | 59.98M | 65.76M | 70.98M | 75.67M | 32.11M |
| Long term debt total | - | - | - | 9.20M | 10.77M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Investments | -7.99M | -51.27M | 135.69M | 58.42M | -188.06M |
| Change to liabilities | - | - | - | -20.90M | -21.85M |
| Total cashflows from investing activities | -8.60M | -51.27M | 158.35M | 58.42M | -189.34M |
| Net borrowings | - | 0.00M | -12.50M | - | - |
| Total cash from financing activities | 126.40M | 45.34M | 45.49M | 1.15M | 171.40M |
| Change to operating activities | - | - | - | 4.96M | -2.63M |
| Net income | -104.99M | -105.32M | -132.49M | -128.18M | -83.89M |
| Change in cash | 19.10M | -71.09M | 97.00M | -46.37M | -104.90M |
| Begin period cash flow | 58.94M | 130.03M | 33.03M | 79.40M | 184.30M |
| End period cash flow | 78.05M | 58.94M | 130.03M | 33.03M | 79.40M |
| Total cash from operating activities | -98.69M | -65.16M | -106.84M | -105.94M | -86.97M |
| Issuance of capital stock | 126.21M | 44.37M | 57.67M | 0.00M | 169.47M |
| Depreciation | 1.96M | 1.82M | 1.88M | 1.68M | 1.49M |
| Change to inventory | - | - | - | - | -2.63M |
| Change to account receivables | 0.70M | 8.70M | -10.33M | 4.24M | -1.23M |
| Sale purchase of stock | -0.19M | -0.19M | -0.11M | 0.78M | 2.04M |
| Other cashflows from financing activities | 0.27M | 1.16M | 0.43M | 0.37M | 1.94M |
| Change to netincome | - | - | - | 30.02M | 21.51M |
| Capital expenditures | 0.61M | 0.18M | 1.71M | 5.50M | 1.28M |
| Change receivables | - | - | - | 4.24M | -1.23M |
| Cash flows other operating | - | - | - | 5.78M | -5.59M |
| Cash and cash equivalents changes | - | - | - | -46.37M | -104.90M |
| Change in working capital | -29.28M | 7.65M | -6.94M | -16.78M | -30.09M |
| Stock based compensation | 19.10M | 29.66M | 27.23M | 30.02M | 21.51M |
| Other non cash items | 14.52M | 1.03M | 3.48M | 7.32M | 2.13M |
| Free cash flow | -99.30M | -65.34M | -108.55M | -111.44M | -88.24M |
Sector: Healthcare Industry: Biotechnology
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| CCCC C4 Therapeutics Inc |
-0.16 4.75% |
3.21 | - | - | 8.12 | 1.14 | 2.86 | -0.42 |
| NVO Novo Nordisk A/S |
0.45 1.12% |
40.45 | 41.58 | 31.15 | 2.13 | 32.99 | 2.11 | 4.70 |
| VRTX Vertex Pharmaceuticals Inc |
-5.73 1.03% |
553.15 | 30.22 | 24.27 | 10.36 | 6.50 | 9.99 | 24.66 |
| REGN Regeneron Pharmaceuticals Inc |
33.37 3.60% |
961.26 | 29.07 | 20.12 | 7.57 | 3.82 | 6.95 | 19.42 |
| ARGNF argenx SE |
- -% |
900.30 | 45.77 | 31.25 | 13.84 | 7.12 | 11.38 | 36.06 |
C4 Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops novel therapeutic candidates to degrade disease-causing proteins. Its lead product candidate is Cemsidomide, an orally bioavailable monodac targeting IKZF1 and IKZF3, or IKZF1/3 to address a need across multiple lines of therapy in multiple myeloma, which has competed its phase 1. The company is also developing oncology product candidate, CFT8919, an orally bioavailable, allosteric, mutant-selective bidac degrader of epidermal growth factor receptor, with an L858R mutation in non-small cell lung cancer; and new degraders focused on inflammation, neuroinflammation, and neurodegeneration. It has strategic collaborations F. Hoffmann-La Roche Ltd and Hoffmann-La Roche Inc., Betta Pharmaceuticals Co. Ltd., and Merck KGAA. Additionally, it has a collaboration agreement with Roche Holding AG for the development of Degrader-Antibody Conjugates for cancer treatment. The company was incorporated in 2015 and is headquartered in Watertown, Massachusetts.
490 Arsenal Way, Watertown, MA, United States, 02472
617 231 0700
104
| Name | Title | Year Born |
|---|---|---|
| Mr. Andrew J. Hirsch | CEO, Pres & Director | 1971 |
| Dr. Kenneth C. Anderson M.D., Ph.D. | Co-Founder, Independent Director & Member of Scientific Advisory Board | 1951 |
| Ms. Lauren A. White | Chief Financial Officer | NA |
| Dr. Stewart Fisher | Chief Scientific Officer | 1967 |
| Ms. Jolie M. Siegel J.D. | Chief Legal Officer | 1977 |
| Dr. Adam S. Crystal M.D., Ph.D. | Chief Medical Officer | 1977 |
| Dr. Nathanael S. Gray Ph.D. | Co-Founder & Member of Scientific Advisory Board | NA |
| Ms. Kendra Adams | Sr. VP of Communications & Investor Relations | NA |
| Kristina Zambouras | Director of HR | NA |
| Ms. Kelly Schick | Chief People Officer | NA |
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