The safety clearance of the 75 µg dose in the Phase 1b combo trial is a modest derisking step, but the biomarker data are too early (n=2) to change the probability of success. Watch for Phase 2 MOMENTUM initial ORR data in 2H 2027 and Phase 1b all-cohort data in mid-2027 as the next catalysts.
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Executive Summary
C4 Therapeutics presented new biomarker data at the 2026 IMS Annual Meeting showing cemsidomide drives T-cell activation and prevents T-cell exhaustion in RRMM, and the 75 µg dose level in the Phase 1b combo trial with elranatamab was declared safe, allowing dose escalation and expansion. The filing is a routine clinical update with no financial data; the biomarker data are early and from small samples (n=2 for Phase 1b), making the read-through limited.
Key Facts
- Phase 1 biomarker data in 62 RRMM patients showed cemsidomide + dexamethasone activates T cells and reprograms NK cells at 75 µg and 100 µg doses.
- Phase 1b combo trial with elranatamab: 75 µg cemsidomide dose declared safe; trial advancing to 100 µg safety cohort and 75 µg expansion cohort.
- Biomarker data from first 2 patients in Phase 1b showed cemsidomide drives CD8+ effector memory T-cell expansion/activation and prevents T-cell exhaustion.
- Data from all Phase 1b cohorts expected mid-2027.
- Cash runway expected to end of 2028, beyond key value inflection points.
- No financial results or guidance were provided in this filing.
Financial Impact
No financial data in filing. Cash runway to end of 2028 mentioned in corporate deck.
Risk Factors
- Early biomarker data (n=2 for Phase 1b) may not predict clinical outcomes in larger trials.
- Cemsidomide faces competition from other IKZF1/3 degraders (iberdomide, mezigdomide) with late-stage data.
- No financial data or guidance provided; reliance on partnership milestones and cash runway.
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-063497 |
| Document: cccc-20260925.htm | 0001628280-26-063497 |
| Document: c4timspr_92426xfinal.htm | 0001628280-26-063497 |
| Document: 0001628280-26-063497-index-headers.html | 0001628280-26-063497 |
| Document: 0001628280-26-063497-index.html | 0001628280-26-063497 |
| Document: 0001628280-26-063497.txt | 0001628280-26-063497 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 25, 2026 4w ago | 8-K | $2.98 $2.95 | ▼ −1.01% | ▼ −0.79% | $3.21 (+7.72%) |
Sep 25, 2026 4w ago | Press Release | $2.98 $2.95 | ▼ −1.01% | ▼ −0.79% | $3.21 (+7.72%) |
Aug 14, 2026 10w ago | 144 | $4.27 $4.10 | ▼ −3.87% | ▼ −2.68% | $3.21 (−24.74%) |
Aug 14, 2026 10w ago | Institutional Cluster | $4.27 $4.10 | ▼ −3.87% | ▼ −2.68% | $3.21 (−24.74%) |
Aug 11, 2026 11w ago | 8-K | $3.87 $4.18 | ▲ +8.01% | ▲ +8.41% | $3.21 (−17.05%) |
Jun 11, 2026 19w ago | Press Release | $3.87 $3.92 | ▲ +1.29% | ▲ +0.86% | $3.21 (−17.05%) |
May 15, 2026 23w ago | 8-K | $3.22 $3.49 | ▲ +8.39% | ▲ +6.77% | $3.21 (−0.31%) |
May 12, 2026 24w ago | 8-K | $3.17 $3.22 | ▲ +1.58% | ▲ +1.50% | $3.21 (+1.26%) |
May 12, 2026 24w ago | Press Release | $3.17 $3.22 | ▲ +1.58% | ▲ +1.50% | $3.21 (+1.26%) |
Apr 9, 2026 28w ago | 8-K | $2.83 $2.90 | ▲ +2.47% | ▼ −0.71% | $3.21 (+13.43%) |
US Market Status
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