CCCC - C4 Therapeutics GAAP EPS of -$0.41 in-line revenue of $3.04M misses by $6.24M
2024-05-08 11:26:56 ET
- C4 Therapeutics press release ( NASDAQ: CCCC ): Q1 GAAP EPS of -$0.41 in-line.
- Revenue of $3.04M (-19.1% Y/Y) misses by $6.24M .
- Cash, cash equivalents and marketable securities as of March 31, 2024 were $299.2 million, compared to $281.7 million as of December 31, 2023. The increase was primarily the result of proceeds received in January 2024 from the sale of shares of our common stock to a subsidiary of our partner Betta Pharmaceuticals and proceeds from settlement of shares under our at the market offering arrangement, both of which were previously disclosed. These inflows were partially offset by cash used in operating activities.
- C4T expects that its cash, cash equivalents and marketable securities as of March 31, 2024 will be sufficient to fund planned operating expenses and capital expenditures into 2027.