C4 Therapeutics Files 8-K: Material Agreement & Financials

TL;DR

C4 Therapeutics signed a big deal, filed financials. Big news incoming.

AI Summary

On March 4, 2024, C4 Therapeutics, Inc. announced a material definitive agreement. The company also disclosed information related to Regulation FD and filed financial statements and exhibits. The filing details are associated with accession number 0001628280-24-008339.

Why It Matters

This 8-K filing indicates C4 Therapeutics has entered into a significant agreement, which could impact its strategic direction and financial performance.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that may affect the company's stock price.

Key Players & Entities

• C4 Therapeutics, Inc. (company) — Registrant
• 0001628280-24-008339 (document_id) — Accession Number
• March 4, 2024 (date) — Date of Report
• March 1, 2024 (date) — Earliest Event Reported

FAQ

Key Financial Figures

• $0.0001 — ange on which registered Common Stock, $0.0001 par value per share CCCC The Nasdaq Glo
• $16.0 million — reed to make an upfront cash payment of $16.0 million and will fund C4T's discovery research
• $740 million — 4T is eligible to receive approximately $740 million in aggregate in discovery, regulatory,

Filing Documents

• cccc-20240304.htm (8-K) — 32KB
• cccc-20240304xexx991.htm (EX-99.1) — 13KB
• c4tlogo1a.jpg (GRAPHIC) — 9KB
• 0001628280-24-008339.txt ( ) — 190KB
• cccc-20240304.xsd (EX-101.SCH) — 2KB
• cccc-20240304_lab.xml (EX-101.LAB) — 24KB
• cccc-20240304_pre.xml (EX-101.PRE) — 13KB
• cccc-20240304_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On March 1, 2024 , C4 Therapeutics, Inc. (" C4T ") entered into a Research Collaboration and License Agreement (" License Agreement ") with Merck KGaA, Darmstadt, Germany (" MKDG "), which operates its healthcare business as EMD Serono in the U.S. and Canada, to exclusively discover two targeted protein degraders against critical oncogenic proteins that C4T has progressed within its internal discovery pipeline. Pursuant to the terms of the License Agreement, C4T grants MKDG a worldwide, exclusive license under certain of C4T's intellectual property rights to discover two targeted protein degraders against critical oncogenic proteins. MKDG is responsible for all development, regulatory approval, manufacturing and commercialization costs. Under the terms of the License Agreement, MKDG has agreed to make an upfront cash payment of $16.0 million and will fund C4T's discovery research efforts. C4T is eligible to receive approximately $740 million in aggregate in discovery, regulatory, and commercial milestone payments across the collaboration, plus tiered royalties on net sales. Royalties payable from MKDG to C4T range from mid-single digit to low-double digit percent, subject to reductions under certain circumstances as described in the License Agreement. Under the License Agreement, the royalty term for all contemplated royalties shall terminate on a product-by-product and country-by-country basis on the latest of (i) the ten (10) year anniversary of the first commercial sale of such product in such country, and (ii) the expiration of the last-to-expire licensed patent that covers such product in such country. The License Agreement includes customary representations and warranties, covenants and indemnification obligations for a transaction of this nature. The License Agreement became effective upon signing and will continue until all of MKDG's applicable payment obligations under the License Agreement have been

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On March 4, 2024 , C4T issued a press release relating to the License Agreement. A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the " Exchange Act "), or otherwise subject to the liabilities of that Section, nor shall it be deemed subject to the requirements of amended Item 10 of Regulation S-K, nor shall it be deemed incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, regardless of any general incorporation language in such filing. The furnishing of this information hereby shall not be deemed an admission as to the materiality of any such information.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits . The exhibits shall be deemed to be filed or furnished, depending on the relevant item requiring such exhibit, in accordance with the provisions of Item 601 of Regulation S-K (17 CFR 229.601) and Instruction B.2 to this form. Exhibit Number Description 99.1 Press release issued March 4, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. C4 Therapeutics, Inc. Date: March 4, 2024 By: /s/ Jolie M. Siegel Jolie M. Siegel Chief Legal Officer

View Full Filing

View this 8-K filing on SEC EDGAR