Exhibit 99.1

 

 

CytomX Announces Full-Year 2016 Financial Results

 

SOUTH SAN FRANCISCO, Calif., March 2, 2017 (GLOBE NEWSWIRE) --

CytomX Therapeutics, Inc. (Nasdaq:CTMX), a biopharmaceutical company developing investigational Probody™ therapeutics for the treatment of cancer, today reported full-year 2016 financial results. 

 

As of December 31, 2016, CytomX had cash and cash equivalents and short-term investments of $181.9 million. Based upon its current operating plan, the Company expects its existing capital resources will be sufficient to fund operations into 2019.

 

“Over the past year, CytomX has transformed from a research organization to a clinical-stage company, bringing us one step closer to realizing our vision of transforming lives with safer and more effective therapies,” said Sean McCarthy, D.Phil., president and chief executive officer of CytomX Therapeutics. “With our lead program, CX-072, in the clinic and CX-2009 closely behind, together with our world-class pharmaceutical partnerships, we are advancing a broad and deep pipeline of differentiated Probody therapeutics that are focused on some of the most compelling targets for the treatment of cancer.”

 

2016 Business Highlights and Recent Developments

 

PROCLAIM-CX-072 (PD-L1 Probody) Program

 

Enrollment is underway in the PROCLAIM clinical study of CX-072, a PD-L1-targeting Probody therapeutic for the treatment of cancer patients.  

 

Clinical data is expected to begin to emerge in late 2017, and throughout 2018.

 

CX-2009 (CD166 Probody Drug Conjugate) Program

 

Following completion of GMP manufacturing and GLP toxicity studies in 2016, the IND filing for CX-2009 remains on track for the first half of 2017.

 

CX-2009 is a first-in-class Probody drug conjugate targeting the highly expressed tumor antigen, CD166.

 

Clinical data is expected to begin to emerge in late 2017, and throughout 2018.

 

Partnerships

 

CytomX continues to forge biopharmaceutical partnerships that retain meaningful downstream rights to extend the reach of our technology and in order to fund its wholly-owned programs.

 

As part of our ongoing collaboration, Bristol-Myers Squibb selected the third and fourth targets and selected a CTLA-4 clinical candidate for a total of $25


The following information was filed by Cytomx Therapeutics, Inc. (CTMX) on Thursday, March 2, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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