The partnership with Roche validates C4T's TORPEDO® platform and provides non-dilutive funding. Traders should monitor milestone achievements and potential stock movement on future announcements, especially as DACs represent a novel modality with high upside in oncology.
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Executive Summary
C4 Therapeutics announced a collaboration with Roche to develop degrader-antibody conjugates (DACs) for two oncology targets, with an option for a third. C4T receives a $20 million upfront payment and is eligible for over $1 billion in potential milestone payments and future royalties.
Key Financial Metrics
Key Facts
- C4 Therapeutics entered a collaboration with Roche to develop degrader-antibody conjugates (DACs) for oncology targets.
- C4T will receive $20 million upfront and is eligible for over $1 billion in discovery, development, and commercial milestone payments.
- Roche will handle conjugation, preclinical/clinical development, and commercialization; C4T will design degrader payloads using its TORPEDO® platform.
- The deal includes tiered royalties on future sales, subject to reductions under certain circumstances.
Financial Impact
$20 million upfront and over $1 billion in potential milestones
Risk Factors
- Milestones are contingent on successful development and regulatory progress, which are uncertain.
- Royalty terms may be reduced under certain circumstances as outlined in the agreement.
- Failure of DAC candidates in preclinical or clinical stages could negatively impact valuation.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3270765 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 14, 2026 6w ago | 144 | $4.27 $4.10 | ▼ −3.87% | ▼ −2.68% | $2.95 (−30.83%) |
Aug 14, 2026 6w ago | Institutional Cluster | $4.27 $4.10 | ▼ −3.87% | ▼ −2.68% | $2.95 (−30.83%) |
Aug 11, 2026 7w ago | 8-K | $3.62 $4.18 | ▲ +15.47% | ▲ +15.87% | $2.95 (−18.51%) |
Jun 11, 2026 16w ago | Press Release | $3.87 $3.92 | ▲ +1.29% | ▲ +0.86% | $2.95 (−23.77%) |
May 15, 2026 20w ago | 8-K | $3.22 $3.49 | ▲ +8.39% | ▲ +6.77% | $2.95 (−8.39%) |
May 12, 2026 20w ago | 8-K | $3.17 $3.22 | ▲ +1.58% | ▲ +1.50% | $2.95 (−6.94%) |
May 12, 2026 20w ago | Press Release | $3.17 $3.22 | ▲ +1.58% | ▲ +1.50% | $2.95 (−6.94%) |
Apr 9, 2026 25w ago | 8-K | $2.83 $2.90 | ▲ +2.47% | ▼ −0.71% | $2.95 (+4.24%) |
Apr 9, 2026 25w ago | Press Release | $2.83 $2.90 | ▲ +2.47% | ▼ −0.71% | $2.95 (+4.24%) |
Mar 25, 2026 27w ago | Press Release | $2.69 $2.70 | ▲ +0.37% | ▲ +0.62% | $2.95 (+9.67%) |
US Market Status
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