CytomX reports $348m cash, runway into 2028, as colorectal drug holds FDA Fast Track

CytomX Therapeutics ended the third quarter of 2026 with $348.0 million in cash, which the company says is enough to fund operations into the second half of 2028. It disclosed the figure on 5 November alongside a pipeline update focused on Varseta-M (varsetatug masetecan).

Varseta-M is a masked antibody drug conjugate aimed at EpCAM. The US Food and Drug Administration granted it Fast Track status in August for relapsed or refractory metastatic colorectal cancer. Fast Track is the agency's route for speeding the development and review of treatments for serious conditions with unmet need, and it allows more frequent contact with regulators.

The next milestone is an update from the Phase 1 monotherapy study, which CytomX expects to present in January 2027. The company also said a first registrational study could begin in the first half of 2027. It framed that start as a possibility, not a firm commitment, and the January data will likely shape the decision.

The announcement gave no details on trial design, patient numbers or partnering plans, so the commercial opportunity for Varseta-M cannot yet be sized from the company's disclosures.