CytomX Therapeutics Announces $250 Million Offering

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CytomX Therapeutics, a leader in the field of masked, conditionally activated biologics, announced the pricing of a $250 million underwritten public offering of its common stock and pre-funded warrants. The company plans to use the net proceeds to continue the development of its pipeline programs, including Varseta-M for metastatic colorectal cancer and CX-801 for metastatic melanoma.

Why it matters

This offering will provide CytomX with additional capital to advance its pipeline of novel cancer therapies, which utilize the company's proprietary PROBODY platform to develop safer and more effective treatments. As a clinical-stage oncology-focused biopharmaceutical company, CytomX's ability to raise funds is crucial for the continued development and potential commercialization of its drug candidates.

The details

CytomX is selling 45,990,567 shares of common stock at $5.30 per share, as well as pre-funded warrants to purchase 1,179,245 shares of common stock. The company also granted the underwriters a 30-day option to purchase up to an additional 7,075,471 shares. The offering is expected to close on March 19, 2026, subject to customary closing conditions.

• The offering was priced on March 17, 2026.
• The offering is expected to close on March 19, 2026.

What’s next

The offering is expected to close on March 19, 2026, subject to customary closing conditions.