CytomX Therapeutics, Inc. Q4 FY2024 earnings call

• Pipeline progress: 2024 was productive with two new programs, CX-2051 and CX-801, advanced into clinic. CX-2051 is first-in-class masked ADC for EPCAM in CRC, with phase one study ongoing. CX-801 is masked interferon alpha 2b in phase one for advanced melanoma. - Collaborations: Achieved $5 million milestone in STELLUS T cell Engager collaboration. Partnerships with Bristol Myers Squibb, Amgen, etc. - Strategic priorities: Prioritized programs and streamlined organization, extending cash runway to Q2 2026.

In 2024, total revenue was $138.1 million compared to $101.2 million in 2023. Total operating expenses were $113.1 million in 2024 vs $107.7 million in 2023. R&D increased to $83.4 million in 2024 from prior year, driven by milestone payment for CX-2051 Phase one start. G&A expenses were $29.7 million in 2024, essentially flat from prior year.

• Cash runway extended to Q2 2026. - Expectation of initial clinical data for CX-2051 and CX-801 in 2025. - Focus on progressing lead programs CX-2051 and CX-801 to deliver value to shareholders.

Forward-looking statements subject to inherent uncertainties and risks difficult to predict, as outlined in recent public filings with SEC.

Q: Roger Song asked about CX-2051 patient enrollment and first half data update.

A: Sean McCarthy said it would be a meaningful update including safety profile characterization and initial assessment of antitumor activity.

Q: Joe Catanzaro asked about dosing cohorts and patient selection criteria.

A: Sean McCarthy explained about dosing cohorts and enrolling broad CRC patient population without pre-selection based on KRAS status or liver metastases.

Q: Anupam Rama's representative asked about EPCAM expression literature.

A: Sean McCarthy noted broad literature on EPCAM expression in CRC and other tumors.

Q: Peter Lawson asked about CRC focus and success bar.

A: Sean McCarthy discussed CRC focus reasons and success bar including safety, tumor stabilization, and potential responses in late-line CRC.

Q: Mitchell Kapoor asked about Phase 1a CRC data presentation and dosing comparison.

A: Sean McCarthy said options for data presentation are open and discussed dosing escalation and comparison to nonhuman primate models