CytomX Therapeutics Files 2023 10-K

TL;DR

CytomX filed its 2023 10-K. Lots of agreements with big pharma like BMS & AbbVie. Check it out.

AI Summary

CytomX Therapeutics, Inc. filed its 2023 10-K on March 11, 2024, reporting on its fiscal year ending December 31, 2023. The company is involved in pharmaceutical preparations and has various agreements, including those with Bristol Myers Squibb Company and AbbVie Ireland Unlimited Company. Key dates mentioned relate to stock issuances and agreement effective periods.

Why It Matters

This filing provides a comprehensive overview of CytomX Therapeutics' financial health, business operations, and strategic partnerships for the past fiscal year, which is crucial for investors and stakeholders to assess the company's performance and future prospects.

Risk Assessment

Risk Level: medium — As a biotechnology company, CytomX Therapeutics is subject to inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period for the 10-K)
• 2024-03-11 — Filing Date (Date the 10-K was submitted to the SEC)

Key Players & Entities

• CytomX Therapeutics, Inc. (company) — Filer of the 10-K
• 2023-12-31 (date) — Fiscal year end
• 2024-03-11 (date) — Filing date
• Bristol Myers Squibb Company (company) — Collaborator
• AbbVie Ireland Unlimited Company (company) — Collaborator

FAQ

Key Financial Figures

• $0.00001 — nge on which registered Common Stock, $0.00001 par value CTMX The Nasdaq Global Se
• $1.72 — lobal Select Market on June 30, 2023 of $1.72 per share. Shares of the registrant's c

Filing Documents

• ctmx-20231231.htm (10-K) — 3105KB
• ctmx-ex19_1.htm (EX-19.1) — 147KB
• ctmx-ex23_1.htm (EX-23.1) — 6KB
• ctmx-ex31_1.htm (EX-31.1) — 13KB
• ctmx-ex31_2.htm (EX-31.2) — 13KB
• ctmx-ex32_1.htm (EX-32.1) — 11KB
• ctmx-ex97_1.htm (EX-97.1) — 81KB
• img36236167_0.jpg (GRAPHIC) — 8KB
• img216791825_0.jpg (GRAPHIC) — 8KB
• img240975503_0.jpg (GRAPHIC) — 113KB
• img240975503_1.jpg (GRAPHIC) — 108KB
• img240975503_2.jpg (GRAPHIC) — 25KB
• img240975503_3.jpg (GRAPHIC) — 136KB
• 0000950170-24-029191.txt ( ) — 12741KB
• ctmx-20231231.xsd (EX-101.SCH) — 1731KB
• ctmx-20231231_htm.xml (XML) — 1831KB

Business

Business 4 ITEM 1A.

Risk Factors

Risk Factors 30 ITEM 1B. Unresolved Staff Comments 73 ITEM 1C. Cybersecurity 73 ITEM 2.

Properties

Properties 74 ITEM 3.

Legal Proceedings

Legal Proceedings 74 ITEM 4. Mine Safety Disclosures 74 PART II ITEM 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 75 ITEM 6. [Reserved] 75 ITEM 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 76 ITEM 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 85 ITEM 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 86 ITEM 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 117 ITEM 9A.

Controls and Procedures

Controls and Procedures 117 ITEM 9B. Other Information 118 ITEM 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 118 PART III ITEM 10. Directors, Executive Officers and Corporate Governance 119 ITEM 11.

Executive Compensation

Executive Compensation 119 ITEM 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 119 ITEM 13. Certain Relationships and Related Transactions, and Director Independence 119 ITEM 14. Principal Accountant Fees and Services 119 PART IV ITEM 15. Exhibits and Financial Statement Schedules 120 ITEM 16. Form 10-K Summary 124

Forward-Looking Statements

Forward-Looking Statements This Annual Report on Form 10-K contains certain forward-looking statements that involve risks and uncertainties. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance. These statements are often, but not always, made through the use of words or phrases such as "may," "might," "should," "could," "predict," "potential," "believe," "expect," "continue," "will," "anticipate," "seek," "estimate," "intend," "plan," "projection," "would," "annualized" and "outlook," or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, management's beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, estimates and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. A number of important factors could cause our actual results to differ materially from those indicated in these forward-looking statements, including those factors identified in "Risk Factors" or "Management's Discussion and Analysis of Financial Condition and Results of Operations" or the following: our expectations regarding the potential benefits, activity, effectiveness and safety of our product candidates and therapeutics developed utilizing our PROBODY conditionally activated platform technology; the initiation, timing, progress and results

Bus iness

Item 1. Bus iness Overview We are a clinical-stage, oncology-focused biopharmaceutical company focused on developing novel, conditionally activated biologics designed to be localized to the tumor microenvironment. We aim to build a commercial enterprise to maximize our impact on the treatment of cancer. By pioneering a novel class of localized biologic drug candidates, powered by our PROBODY therapeutic technology platform, we lead the field of conditionally activated oncology therapeutics and have established biologics localization as a strategic area of research and development. Our vision is to transform lives with safer, more effective therapies with the goal of addressing major unmet needs in oncology. Our proprietary, versatile, multi-modality PROBODY technology platform is designed to enable conditional activation of biologic therapeutic candidates within the tumor microenvironment while minimizing drug activity in healthy tissues and circulation. Our platform is built on a strong foundation of tumor biology expertise including deep knowledge of tumor-associated enzymes known as proteases. Proteases are tightly controlled in normal tissues but often dysregulated and active in tumor microenvironments where they play important roles in cancer cell migration, invasion and metastasis. Leveraging our deep scientific knowledge, we conceived of and constructed our PROBODY therapeutic platform which allows us to genetically engineer biologic therapeutic candidates to contain protease-cleavable masks. Our masking strategy is designed to reduce binding of biologic drugs to their targets until the mask is removed by proteases in the tumor microenvironment, providing more selective targeting of the tumor. We are employing our leading, conditional activation platform technology to address some of the biggest challenges in oncology biologics research and development. These include the validation of potential new targets for antibody-drug conjugates ("ADCs"), openin

View Full Filing

View this 10-K filing on SEC EDGAR