C4 Therapeutics Multiple Myeloma Candidate Scores FDA Orphan Drug Tag

by Vandana Singh, Benzinga Editor

August 12, 2021 6:39 AM | 1 min read | Make a Comment

The FDA has granted Orphan Drug Designation to C4 Therapeutics Inc CCCC CFT7455 for multiple myeloma.
CFT7455 is an orally bioavailable MonoDAC degrader targeting IKZF1/3.
In June, C4 Therapeutics initiated a Phase 1/2 trial for CFT7455 to primarily investigate the safety, tolerability, and anti-tumor activity.
The Company will enroll approximately 160 patients.
For Q2, C4 Therapeutics reported revenue of $9.8 million, compared to $9.7 million a year ago, reflecting revenue recognized under collaboration agreements with Roche, Biogen, and Calico.
Cash, cash equivalents, and marketable securities as of June 30 were $498.7 million sufficient to fund expenses for at least two years.
Price Action: CCCC shares closed at $35.91 on Wednesday.
Related content: Benzinga's Full FDA Calendar.