We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties. You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies. In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
CytomX (CTMX) to Report Q4 Earnings: Here's What to Expect
Read MoreHide Full Article
CytomX Therapeutics (CTMX - Free Report) is expected to report fourth-quarter and full-year 2023 results soon. In the last reported quarter, the company beat earnings expectations by 123.53%.
Factors to Note
CytomX does not have any marketed product. Investor focus on the fourth-quarter 2023 earnings call will be on updates regarding key cancer immunotherapeutic candidates, CX-904 and BMS-986288.
CX-904 is an EGFR-CD3 T-cell engager, developed in partnership with Amgen (AMGN - Free Report) , while BMS-986288 is a non-fucosylated CTLA-4 targeting Probody therapeutic, developed with Bristol Myers Squibb (BMY - Free Report)
Initial dose escalation data from the phase I study on CX-904 in patients with advanced solid tumors that have known EGFR expression is anticipated in the second half of 2024. CytomX has a global co-development alliance with Amgen for CX-904.
BMS-986288 is being evaluated in phase II proof-of-concept studies for microsatellite stable colorectal cancer and non-small cell lung cancer. In 2023, Bristol Myers Squibb prioritized the BMS-986288 program as its lead next-generation CTLA-4 program. Bristol Myers Squibb expects data from the studies to be available in 2024.
Last month, the company announced that the FDA had cleared its investigational new drug (IND) applications to begin phase I clinical studies on its wholly-owned oncology candidates, CX-2051 and CX-801. CX-2051 is an antibody drug conjugate (ADC) targeting EpCAM, which is a high potential oncology target. CX-801 is a conditionally activated interferon alpha-2b. Interferon-alpha 2b is an immunotherapeutic cytokine. Phase I studies on both programs are expected to start in the first half of 2024.
The years 2024 and 2025 are expected to be milestone-rich for CytomX as it believes it will generate proof of concept clinical data across its lead programs. These will allow it to begin registrational studies on the candidates.
Earnings Surprise History
The company’s earnings beat estimates in three of the last four quarters while missing in one. The company has a four-quarter earnings surprise of 45.44%, on average.
CytomX Therapeutics’ stock has declined 23.2% in the past year compared with a decrease of 7.2% for the industry.
Image Source: Zacks Investment Research
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for CytomX this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here.
Earnings ESP: CytomX’s Earnings ESP is 0.00% as both the Zacks Consensus Estimate and the Most Accurate Estimate are pegged at 2 cents per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: CytomX has a Zacks Rank #3.
Stock to Consider
Here is a drug/biotech stock that has the right combination of elements to beat on earnings this time around:
Sarepta Therapeutics’ stock has risen 16.5% in the past year. Sarepta Therapeutics beat earnings estimates in each of the last four quarters. SRPT delivered a four-quarter earnings surprise of 48.67%, on average. Sarepta is slated to report its fourth-quarter earnings on Feb 28.
Image: Bigstock
CytomX (CTMX) to Report Q4 Earnings: Here's What to Expect
CytomX Therapeutics (CTMX - Free Report) is expected to report fourth-quarter and full-year 2023 results soon. In the last reported quarter, the company beat earnings expectations by 123.53%.
Factors to Note
CytomX does not have any marketed product. Investor focus on the fourth-quarter 2023 earnings call will be on updates regarding key cancer immunotherapeutic candidates, CX-904 and BMS-986288.
CX-904 is an EGFR-CD3 T-cell engager, developed in partnership with Amgen (AMGN - Free Report) , while BMS-986288 is a non-fucosylated CTLA-4 targeting Probody therapeutic, developed with Bristol Myers Squibb (BMY - Free Report)
Initial dose escalation data from the phase I study on CX-904 in patients with advanced solid tumors that have known EGFR expression is anticipated in the second half of 2024. CytomX has a global co-development alliance with Amgen for CX-904.
BMS-986288 is being evaluated in phase II proof-of-concept studies for microsatellite stable colorectal cancer and non-small cell lung cancer. In 2023, Bristol Myers Squibb prioritized the BMS-986288 program as its lead next-generation CTLA-4 program. Bristol Myers Squibb expects data from the studies to be available in 2024.
Last month, the company announced that the FDA had cleared its investigational new drug (IND) applications to begin phase I clinical studies on its wholly-owned oncology candidates, CX-2051 and CX-801. CX-2051 is an antibody drug conjugate (ADC) targeting EpCAM, which is a high potential oncology target. CX-801 is a conditionally activated interferon alpha-2b. Interferon-alpha 2b is an immunotherapeutic cytokine. Phase I studies on both programs are expected to start in the first half of 2024.
The years 2024 and 2025 are expected to be milestone-rich for CytomX as it believes it will generate proof of concept clinical data across its lead programs. These will allow it to begin registrational studies on the candidates.
Earnings Surprise History
The company’s earnings beat estimates in three of the last four quarters while missing in one. The company has a four-quarter earnings surprise of 45.44%, on average.
CytomX Therapeutics, Inc. Price and EPS Surprise
CytomX Therapeutics, Inc. price-eps-surprise | CytomX Therapeutics, Inc. Quote
CytomX Therapeutics’ stock has declined 23.2% in the past year compared with a decrease of 7.2% for the industry.
Image Source: Zacks Investment Research
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for CytomX this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here.
Earnings ESP: CytomX’s Earnings ESP is 0.00% as both the Zacks Consensus Estimate and the Most Accurate Estimate are pegged at 2 cents per share. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: CytomX has a Zacks Rank #3.
Stock to Consider
Here is a drug/biotech stock that has the right combination of elements to beat on earnings this time around:
Sarepta Therapeutics (SRPT - Free Report) has an Earnings ESP of +306.25% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Sarepta Therapeutics’ stock has risen 16.5% in the past year. Sarepta Therapeutics beat earnings estimates in each of the last four quarters. SRPT delivered a four-quarter earnings surprise of 48.67%, on average. Sarepta is slated to report its fourth-quarter earnings on Feb 28.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.