24/7 Market News Snapshot 12 May, 2025 – CytomX Therapeutics, Inc. (NASDAQ:CTMX)

May 12, 2025

DENVER, Colo., 12 May, 2025 (www.247marketnews.com) – (NASDAQ:CTMX) are discussed in this article.
CytomX Therapeutics, Inc. (NASDAQ:CTMX) is witnessing significant momentum in the market, with its stock price soaring approximately 52.52% in pre-market trading, reaching $1.416, up from the previous close of $0.928. The pre-market activity was marked by a robust trading volume of 7.25 million shares, indicating heightened investor interest and positive market sentiment. This surge appears to be linked to recent developments or clinical advancements that have ignited enthusiasm among traders and analysts alike, positioning CTMX as a compelling investment opportunity in the biotechnology sector.

In addition to this market interest, CytomX has announced an underwritten public offering of 76,923,076 shares of its common stock at a price of $1.30 per share. This offering is expected to raise approximately $100 million in gross proceeds, which will be utilized for ongoing research and development, general corporate necessities, and working capital needs. The transaction is anticipated to close on May 13, 2025, subject to customary closing conditions.

The offering is being managed by respected investment firms, including Longitude Capital and OrbiMed, with significant participation from other prominent entities like Venrock Healthcare Capital Partners and RTW Investments. The securities are being issued under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC), with a prospectus supplement available for interested investors.

CytomX continues to focus on developing innovative, conditionally activated biologics aimed at improving cancer treatment outcomes. Its PROBODY® therapeutic platform is central to its mission, creating masked biologics that enhance both the safety and efficacy of therapies. With promising clinical candidates advancing through development, CytomX is poised to potentially redefine treatment approaches within the oncology landscape.

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