CytomX Stock Hits 2-Month High After Upbeat Q1 Earnings, Promising Early Data For Cancer Drug

Shares of CytomX Therapeutics hit their highest levels in nearly two months on Monday after the company posted better-than-expected first-quarter earnings and revealed promising early trial results for its lead oncology candidate.

CytomX posted quarterly earnings per share of $0.27, which surpassed analyst estimates of $0.13. 

Its revenue climbed to $50.92 million, also beating analyst estimates of $35.42 million.

CytomX shares surged by 129.4% on Monday, reaching $2.13.

The company revealed early Phase 1 trial results showing positive outcomes for CX-2051, an EpCAM-directed Probody antibody-drug conjugate targeting late-line colorectal cancer (CRC).

The CTMX-2051-101 Phase 1 study provided these results after beginning the trial in April 2024. 

The clinical research on April 7 included 25 patients with metastatic CRC who received CX-2051 treatment through seven different dose levels during three-week intervals.

Among the 18 patients receiving therapeutic doses of the CX-2051 treatment, 28% reached confirmed partial response according to RECIST v1.1 standards, which surpasses the standard response rates of low to mid-single digits associated with third-line or later colorectal cancer treatments. 

Patients on CX-2051 received 10 mg/kg, where three out of seven achieved confirmed partial responses. 

The Disease Control Rate (DCR) reached 94% across these doses while the median progression-free survival stood at 5.8 months. 

Ten patients stayed on study treatment at the point of data cutoff out of 18 participants.

CEO Sean McCarthy, D.Phil., expressed his optimism about the results while confirming that CX-2051 continues to be the company's number one strategic focus. 

McCarthy said that the findings establish EpCAM as a valuable target in cancer treatment and enable CX-2051 to advance into CRC applications and various other EpCAM-expressing cancer types.

The current dose expansion phase will lead CytomX to start a Phase 2 study in early 2026.

Additionally, CytomX priced its 76.9 million share secondary offering at $1.30 per share.

On Stocktwits, retail sentiment was ‘extremely bullish’ amid a 4,567% increase in 24-hour message volume.

One user expressed confidence that the stock could reach $3.50 the following day. 

Another noted the rarity of a stock rising after a company issues a secondary offering at a significantly lower price.

The stock has risen 100.9% so far in 2025.

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