C4 Therapeutics, Inc. CCCC
We are a clinical-stage biopharmaceutical company dedicated to delivering on the promise of targeted protein degradation, or TPD, science to create a new generation of small-molecule medicines that transform patients' lives. Leveraging our proprietary TORPEDO platform, we efficiently design and optimize small molecule protein degraders that are highly active against their desired targets by harnessing the body's natural process for destroying unwanted proteins. Our strategy is to develop degraders that modulate clinically validated disease pathways with best-in-class or first-in-class potential to address significant unmet patient needs. To date, our degraders have demonstrated oral bioavailability and catalytic activity, and we have also leveraged our capability to design compounds that are brain penetrant.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $35.9M | $35.6M | $20.8M | $31.1M | $45.8M | — | — | — |
| R&D | $104.2M | $110.6M | $117.7M | $117.8M | $94.7M | $78.4M | $48.1M | — |
| SG&A | $36.2M | $42.1M | $42.1M | $42.8M | $33.3M | $15.2M | $8.8M | — |
| Total operating expenses | $151.2M | $155.2M | $159.8M | $160.6M | $127.9M | $93.6M | $56.8M | — |
| Operating income | -$115.2M | -$119.6M | -$139.0M | -$129.5M | -$82.1M | -$60.4M | -$35.5M | — |
| Pre-tax income | -$104.9M | -$105.2M | -$131.2M | -$128.2M | -$83.9M | -$67.0M | -$33.3M | — |
| Income tax | $121.0K | $131.0K | $1.3M | $0 | $0 | $626.0K | $804.0K | — |
| Net income | -$105.0M | -$105.3M | -$132.5M | -$128.2M | -$83.9M | -$66.3M | -$34.1M | — |
| EPS, basic | -1.27 | -1.52 | -2.67 | -2.62 | -1.82 | -5.83 | -31.03 | — |
| EPS, diluted | -1.27 | -1.52 | -2.67 | -2.62 | -1.82 | -5.83 | -31.03 | — |
| Shares, diluted (wtd. avg.) | 82.9M | 69.4M | 49.6M | 48.9M | 46.0M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $74.6M | $55.5M | $130.0M | $33.0M | $79.4M | $184.3M | $90.5M | $38.9M |
| Short-term investments | — | — | — | — | $233.2M | $190.0M | — | — |
| Receivables | $2.4M | $3.1M | $11.8M | $1.5M | $5.7M | $4.5M | $4.6M | — |
| Total current assets | $258.1M | $257.8M | $271.2M | $287.6M | $325.7M | $381.0M | $96.8M | — |
| Property, plant and equipment | $4.7M | $5.8M | $7.1M | $7.4M | $3.1M | $3.3M | $4.5M | — |
| Total assets | $359.1M | $349.6M | $376.5M | $430.8M | $506.8M | $400.1M | $118.3M | — |
| Accounts payable | $858.0K | $1.3M | $1.4M | $1.2M | $4.5M | $5.7M | $5.4M | — |
| Short-term debt | — | — | $0 | $2.3M | $0 | — | — | — |
| Total current liabilities | $33.0M | $45.2M | $42.8M | $44.5M | $51.2M | $43.9M | $33.6M | — |
| Long-term debt | — | — | $0 | $9.2M | $10.8M | $10.1M | — | — |
| Total liabilities | $102.5M | $133.6M | $130.3M | $141.6M | $117.2M | $119.3M | $119.2M | — |
| Retained earnings | -$738.7M | -$633.7M | -$528.4M | -$395.9M | -$267.7M | -$183.8M | -$117.5M | — |
| Total equity | $256.6M | $216.0M | $246.1M | $289.2M | $389.6M | $280.8M | -$112.0M | -$79.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$98.7M | -$65.2M | -$106.8M | -$105.9M | -$87.0M | -$67.2M | $55.6M | — |
| Depreciation and amortisation | $1.5M | $1.5M | $1.6M | $1.7M | $1.5M | $1.6M | $1.6M | — |
| Stock-based compensation | $19.1M | $29.7M | $27.2M | $30.0M | $21.5M | $3.4M | $1.6M | — |
| Capital expenditure | $607.0K | $180.0K | $1.7M | $5.5M | $1.3M | $650.0K | $1.3M | — |
| Investing cash flow | -$8.6M | -$51.3M | $158.3M | $58.4M | -$189.3M | -$190.5M | -$1.6M | — |
| Financing cash flow | $126.4M | $45.3M | $45.5M | $1.1M | $171.4M | $348.9M | $244.0K | — |
| Buybacks | $193.0K | $194.0K | $110.0K | $0 | — | $194.0K | $30.0K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-028104.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | $45.8M | $31.1M | $20.8M | $35.6M | $35.9M |
| Gross profit | — | — | — | — | — | — | — | — |
| Net income | — | -$34.1M | -$66.3M | -$83.9M | -$128.2M | -$132.5M | -$105.3M | -$105.0M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Regulation FD disclosure Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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