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On Tuesday, CytomX Therapeutics announced a public offering of 45.9 million shares at $5.30 per share, pre-funded warrants to purchase 1.179 million shares.

CytomX Therapeutics (CTMX) has generated significant excitement with strong early data for varsetatug masetecan in refractory colorectal cancer. Phase 1 results show 20–32% response rates and median PFS of 6.8–7.1 months, outperforming current treatments in this setting. CTMX is executing a $250 million equity raise, extending its cash runway and positioning for registrational studies, but remains pre-commercial.

SOUTH SAN FRANCISCO, Calif., March 17, 2026 (GLOBE NEWSWIRE) -- CytomX Therapeutics, Inc. (Nasdaq:CTMX), a leader in the field of masked, conditionally activated biologics, today announced the pricing of an underwritten public offering of 45,990,567 shares of its common stock at a price to the public of $5.30 per share and, in lieu of common stock to certain investors, pre-funded warrants to purchase 1,179,245 shares of common stock. The gross proceeds to CytomX from the offering are expected to be $250 million, before deducting underwriting discounts and commissions and estimated offering expenses. In addition, CytomX granted the underwriters a 30-day option to purchase up to an additional 7,075,471 shares of its common stock at the public offering price, less underwriting discounts and commissions. The closing of the offering is expected to occur on March 19, 2026, subject to customary closing conditions. All of the shares of common stock and pre-funded warrants are being sold by CytomX.

CytomX Therapeutics stock surges 44% after phase I data for Varseta-M in heavily pretreated metastatic CRC show rising response rates and strong disease control.

CytomX Therapeutics (CTMX +44.44%), a biotech company that develops conditionally activated biologics for cancer treatment, closed Monday at $6.75, up 44.23%. The stock is jumping after releasing Phase 1 Varseta-M data in metastatic colorectal cancer and subsequent upbeat analyst reactions.

SOUTH SAN FRANCISCO, Calif., March 16, 2026 (GLOBE NEWSWIRE) -- CytomX Therapeutics, Inc. (Nasdaq:CTMX), a leader in the field of masked, conditionally activated biologics, today announced that it has commenced an underwritten public offering of $250.0 million of shares of common stock and, in lieu of common stock to certain investors, pre-funded warrants.

CytomX Therapeutics, Inc. receives a speculative Buy upgrade following promising new mCRC data for lead asset Varseta-M (CX-2051). Varseta-M shows a clear dose response and manageable safety profile with prophylactic measures, supporting the potential for a pivotal trial in 2027. CTMX valuation is highly dependent on Varseta-M in 3L+ mCRC, with risk-adjusted NPV modeled at $894M and a fully diluted fair value estimated at $7.15 per share.