10-K · March 16, 2026
CytomX Therapeutics, a clinical-stage biopharmaceutical company, reported a significant decline in revenue and continued losses as it focuses on developing its PROBODY platform for oncology. The company experienced a…
Earnings analysis · 10-Q
CTMX earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
CytomX Therapeutics reported decreased revenue of $10.3 million in Q1 2026, down 80% from $50.9 million in Q1 2025. The company continues to incur significant losses, with a diluted EPS of -$0.46, compared to $0.27 in…
Read full summary
CytomX Therapeutics reported decreased revenue of $10.3 million in Q1 2026, down 80% from $50.9 million in Q1 2025. The company continues to incur significant losses, with a diluted EPS of -$0.46, compared to $0.27 in the previous year. Cash reserves increased to $346.7 million following a public offering. Management is focused on advancing their clinical pipeline while facing significant operating expense challenges.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.46
What stood out
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Revenue Decline
Revenue decreased to $10.3M in Q1 2026 from $50.9M in Q1 2025.
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Increased Operating Losses
Operating loss of $40.4M reported, compared to a loss of $14.3M in Q1 2025.
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Higher Cash Position
Cash, cash equivalents, and short-term investments increased to $346.7M from $137.1M at year-end 2025.
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R&D Investment Rise
R&D expenses increased to $19.2M in Q1 2026, slightly up from $18.9M in Q1 2025.
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Ongoing Clinical Trials
Continued investment in Varseta-M and CX-801 in clinical trials is ongoing.
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EPS Impact
Diluted EPS for Q1 2026 was -$0.46, a decline from earnings of $0.27 in Q1 2025.
What to watch
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Significant Revenue Shortfall
Revenue of $10.3M in Q1 2026 was far below the $50.9M reported in Q1 2025.
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High Operating Losses
Net cash used in operating activities was -$25.5M, up from $21.0M in Q1 2025.
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Regulatory Approval Risks
FDA's changing policies and potential delays in obtaining approvals could affect clinical candidates.
Management's outlook
Management did not provide explicit quantitative guidance for future periods.
Earlier filings 4
10-Q · November 6, 2025
CytomX Therapeutics reported a significant decline in revenue and increased losses for Q3 2025 compared to both the prior quarter and the previous year. Revenue fell to $5.963 million, a decrease of 83% from $33.432…
10-Q · August 7, 2025
CytomX Therapeutics reported a decline in Q2 2025 revenue to $18.7 million, a decrease from $25.1 million in Q2 2024, attributed mainly to reduced collaboration revenue. Operating expenses also dropped significantly,…
10-Q · May 12, 2025
CytomX Therapeutics reported robust Q1 2025 results, showcasing a significant increase in revenue and earnings per share compared to both the prior period and prior year. Revenue surged to $51 million, a 24% increase…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.