CCCC C4 Therapeutics, Inc.
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Executive Summary
C4 Therapeutics entered a research collaboration and license agreement with Roche to develop degrader-antibody conjugates (DACs) for two undisclosed oncology targets, with an option for a third. The deal includes a $20 million upfront payment and over $1 billion in potential milestone payments plus royalties. This partnership leverages C4T's TORPEDO platform and Roche's ADC expertise.
Key Financial Metrics
Actionable Insight
The significant upfront payment and substantial milestone potential provide non-dilutive funding for C4T's pipeline development. The partnership with Roche validates C4T's technology platform. The deal structure with Roche's right to terminate for convenience introduces some execution risk.
Key Facts
- C4 Therapeutics and Roche entered a collaboration agreement for degrader-antibody conjugates (DACs)
- Roche will develop, manufacture, and commercialize DACs directed to two initial undisclosed oncology targets
- C4T receives $20 million upfront payment
- C4T is eligible to receive over $1.0 billion in aggregate milestone payments
- C4T will receive tiered royalties on net sales ranging from mid-single digit to low-double digit percent
- Roche has the right to terminate the agreement for convenience with 90 days notice
Financial Impact
$20 million upfront payment and over $1.0 billion in potential milestone payments
Risk Factors
- Roche can terminate the agreement for convenience with 90 days notice
- The success of the collaboration depends on achieving specified research and development milestones
- The upfront payment is modest compared to the potential milestone payments
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-024336 |
| Document: aprilcorporatedeck_final.htm | 0001628280-26-024336 |
| Document: cccc-20260409xexx991.htm | 0001628280-26-024336 |
| Document: 0001628280-26-024336-index-headers.html | 0001628280-26-024336 |
| Document: 0001628280-26-024336-index.html | 0001628280-26-024336 |
| Document: 0001628280-26-024336.txt | 0001628280-26-024336 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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May 15, 2026
25d ago
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8-K
| $3.22 $3.49 | ▲ +8.39% | ▲ +6.77% | $3.59 (+11.49%) |
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May 12, 2026
28d ago
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8-K
| $3.17 $3.22 | ▲ +1.58% | ▲ +1.50% | $3.59 (+13.25%) |
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May 12, 2026
28d ago
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Press Release
| $3.17 $3.22 | ▲ +1.58% | ▲ +1.50% | $3.59 (+13.25%) |
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Apr 9, 2026
8w ago
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8-K
| $2.83 $2.90 | ▲ +2.47% | ▼ −0.71% | $3.59 (+26.86%) |
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Apr 9, 2026
8w ago
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Press Release
| $2.83 $2.90 | ▲ +2.47% | ▼ −0.71% | $3.59 (+26.86%) |
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Mar 25, 2026
10w ago
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Press Release
| $2.69 $2.70 | ▲ +0.37% | ▲ +0.62% | $3.59 (+33.46%) |
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Feb 28, 2026
14w ago
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Institutional Cluster
| $3.17 $3.59 | ▲ +13.25% | ▲ +14.46% | $3.59 (+13.25%) |
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Feb 26, 2026
14w ago
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8-K
| $2.78 $3.03 | ▲ +8.99% | ▲ +10.12% | $3.59 (+29.14%) |
US Market Status
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