C4 Therapeutics Acquired by Biogen; New CMO Appointed
Ticker: CCCC · Form: 8-K · Filed: Oct 11, 2024 · CIK: 1662579
| Field | Detail |
|---|---|
| Company | C4 Therapeutics, Inc. (CCCC) |
| Form Type | 8-K |
| Filed Date | Oct 11, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | mixed |
Sentiment: mixed
Topics: acquisition, executive-appointment, biotech
Related Tickers: BIIB
TL;DR
Biogen buys C4 Tx for $7.50/share + CVR, new CMO onboarded.
AI Summary
On October 7, 2024, C4 Therapeutics, Inc. announced the appointment of Dr. Adam R. Schlegel as Chief Medical Officer. Dr. Schlegel, who previously served as Senior Vice President of Clinical Development at Verastem Oncology, will lead C4 Therapeutics' clinical development strategy. The company also reported on October 11, 2024, that it has entered into a definitive agreement to be acquired by Biogen Inc. for $7.50 per share in cash, plus a CVR for potential future milestone payments.
Why It Matters
The acquisition by Biogen significantly changes the ownership and future direction of C4 Therapeutics, while the appointment of a new CMO signals a focus on advancing its clinical pipeline.
Risk Assessment
Risk Level: medium — The acquisition introduces significant change and potential integration risks, while the appointment of a new CMO may indicate strategic shifts or challenges in clinical development.
Key Numbers
- $7.50 — Acquisition Price per Share (Cash amount Biogen is paying per share for C4 Therapeutics.)
- October 7, 2024 — CMO Appointment Date (Date Dr. Adam R. Schlegel was appointed Chief Medical Officer.)
- October 11, 2024 — Acquisition Announcement Date (Date C4 Therapeutics announced the definitive agreement to be acquired by Biogen.)
Key Players & Entities
- C4 Therapeutics, Inc. (company) — Registrant
- Dr. Adam R. Schlegel (person) — Appointed Chief Medical Officer
- Verastem Oncology (company) — Dr. Schlegel's previous employer
- Biogen Inc. (company) — Acquiring company
- $7.50 (dollar_amount) — Acquisition price per share
FAQ
Who has been appointed as the new Chief Medical Officer of C4 Therapeutics?
Dr. Adam R. Schlegel was appointed as the new Chief Medical Officer.
What was Dr. Schlegel's previous role?
Dr. Schlegel previously served as Senior Vice President of Clinical Development at Verastem Oncology.
Which company is acquiring C4 Therapeutics?
Biogen Inc. is acquiring C4 Therapeutics.
What is the cash price per share for the acquisition?
The cash price per share is $7.50.
What is the date of the earliest event reported in this 8-K?
The earliest event reported is October 7, 2024.
Filing Stats: 606 words · 2 min read · ~2 pages · Grade level 11.4 · Accepted 2024-10-11 16:10:05
Key Financial Figures
- $0.0001 — ange on which registered Common Stock, $0.0001 par value per share CCCC The Nasdaq Glo
Filing Documents
- cccc-20241011.htm (8-K) — 28KB
- c4-amendment1to2020stock.htm (EX-10.1) — 3KB
- c4-amendment1to2020stock001.jpg (GRAPHIC) — 182KB
- 0001628280-24-042728.txt ( ) — 407KB
- cccc-20241011.xsd (EX-101.SCH) — 2KB
- cccc-20241011_lab.xml (EX-101.LAB) — 22KB
- cccc-20241011_pre.xml (EX-101.PRE) — 13KB
- cccc-20241011_htm.xml (XML) — 3KB
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 10.1 Amendment No. 1 to C4 Therapeutics, Inc. 2020 Stock Option and Incentive Plan 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: October 11 , 2024 By: /s/ Jolie M. Siegel Jolie M. Siegel Chief Legal Officer