C4 Therapeutics, Inc.

Listed Company

CCCCCIK 0001662579NasdaqNon-AcceleratedSmaller ReportingBiological Products, (No Diagnostic Substances)DelawareFY ends Dec 31

Period

FY 2025

Revenue

$35.95M

Net Income

$-105.00M

Total Assets

$359.07M

Equity

$256.59M

Shares Out

97.58M

Op. Cash Flow

$-98.69M

Business

C4 Therapeutics, Inc. is a clinical-stage biopharmaceutical company that discovers and develops targeted protein degradation small-molecule therapies using its proprietary TORPEDO platform. It designs MonoDAC and BiDAC degraders—oral, catalytic, and often CNS-penetrant small molecules—targeting disease-causing proteins such as IKZF1/3, BRAF V600, and EGFR L858R and advances these candidates through preclinical and clinical development. Its operations comprise solely‑owned oncology discovery and clinical programs and multiple partner collaborations and licensing arrangements. It conducts global clinical trials, uses third‑party manufacturers, and pursues commercialization via partners and direct channels in the U.S., Europe, Greater China and other markets.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue from collaboration agreements	36	36	21	31	46
Research and development	104	111	118	118	95
General and administrative	36	42	42	43	33
Impairment loss on right-of-use asset	11	0	—	—	—
Restructuring	0	2	0	—	—
Total operating expenses	151	155	160	161	128
Loss from operations	−115	−120	−139	−130	−82
Interest and other income, net	10	14	10	4	387,000
Total other income, net	10	14	8	1	−2
Loss before income taxes	−105	−105	−131	−128	−84
Income tax expense	−100,000	−131,000	−1	0	—
Net loss	−105	−105	−133	−128	−84
Net loss per share basic (in dollars per share)	−1.27	−1.52	−2.67	−2.62	−1.82
Net loss per share diluted (in dollars per share)	−1.27	−1.52	−2.67	−2.62	−1.82
Weighted-average number of shares - basic (in shares)	83	69	50	49	46
Weighted-average number of shares - diluted (in shares)	83	69	50	49	46
Unrealized (loss) gain on marketable securities	−3,000	180,000	4	−3	−788,000
Comprehensive loss	−105	−105	−128	−132	−85

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	75	55	127	30	76
Marketable securities, current	174	189	127	246	233
Accounts receivable	2	3	12	1	6
Prepaid expenses and other current assets	7	10	6	10	11
Total current assets	258	258	271	288	326
Marketable securities, non-current	49	22	28	61	142
Property and equipment, net	5	6	7	7	3
Right-of-use asset	41	58	64	70	32
Restricted cash	3	3	3	3	3
Other assets	4	3	3	2	544,000
Total assets	359	350	376	431	507
Accounts payable	858,000	1	1	1	5
Accrued expenses and other current liabilities	13	19	21	20	14
Deferred revenue, current	12	19	15	17	32
Operating lease liability, current	6	6	5	5	1
Total current liabilities	33	45	43	45	51
Deferred revenue, net of current	16	28	22	17	24
Operating lease liability, net of current	54	60	66	71	31
Total liabilities	102	134	130	142	117
Commitments and contingencies (See Note 6 and Note 9)	—	—	—	—	—
Preferred stock, par value of $0.0001 per share; 10,000,000 shares authorized, and no shares issued or outstanding as of December 31, 2025 and 2024, respectively	0	0	0	0	0
Common stock, par value of $0.0001 per share; 300,000,000 and 150,000,000 shares authorized as of December 31, 2025 and December 31, 2024, and 96,914,418 and 70,625,899 shares issued and outstanding as of December 31, 2025 and 2024, respectively	9,000	7,000	6,000	5,000	5,000
Additional paid-in capital	995	850	775	689	658
Accumulated other comprehensive income	50,000	53,000	−127,000	−4	−775,000
Accumulated deficit	−739	−634	−528	−396	−268
Total stockholders equity	257	216	246	289	390
Total liabilities and stockholders equity	359	350	376	431	507

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation expense	19	30	27	30	22
Depreciation and amortization	2	2	2	2	1
Reduction in carrying amount of right-of-use asset	6	6	6	6	1
Accretion of premium on marketable securities	−3	−5	−4	714,000	2
Other	99,000	6,000	77,000	0	—
Accounts receivable	701,000	9	−10	4	−1
Prepaid expenses and other current and long-term assets	1	−4	3	388,000	−6
Accounts payable	−468,000	−119,000	273,000	−3	−1
Accrued expenses and other current liabilities	−6	−1	1	5	4
Operating lease liability	−6	−5	−5	−507,000	−888,000
Deferred revenue	−19	10	4	−23	−25
Net cash used in operating activities	−99	−65	−107	−106	−87
Proceeds from maturities of marketable securities	219	233	290	283	350
Purchase of marketable securities	−227	−284	−130	−220	−538
Purchases of property and equipment	−607,000	−180,000	−2	−5	−1
Net cash used in investing activities	−9	−51	158	58	−189
Proceeds from exercises of stock options	107,000	778,000	58,000	777,000	2
Payments for repurchase of common stock for tax withholding	−193,000	−194,000	−110,000	0	—
Other	274,000	382,000	368,000	370,000	−109,000
Net cash provided by financing activities	126	45	45	1	171
Net change in cash, cash equivalents and restricted cash	19	−71	97	−46	−105

Filings

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