C4 Therapeutics (CCCC)
Develops targeted-protein degraders for oncology through TORPEDO.
Something off on this page? Send us feedback.
Clinical-stage work centers on small-molecule targeted-protein degraders created through TORPEDO, alongside internal oncology programs and partner collaborations. With no marketed-product portfolio, the company expects collaboration arrangements to provide revenue for the next several years.
Uses the cell's protein-recycling system to remove disease-causing proteins rather than merely inhibit them. Its TORPEDO discovery and optimization platform is designed to generate MonoDAC molecular glues, BiDAC heterobifunctional degraders, and degrader-antibody-conjugate payloads for oncology research.
Internal oncology programs include cemsidomide. The clinical-stage business combines these programs with agreements involving Merck KGaA, Merck, Betta, Roche, and Biogen, rather than a marketed-product portfolio.
Headquartered in Watertown, Massachusetts, the company traces its scientific origin to Dana-Farber research. Existing agreements had not yielded royalties at the time of the filing. Collaboration arrangements are expected to provide revenue for the next several years.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Feb 26, 2026 | Barclays | Target | Target: $5 | Target: $7 |
| Dec 17, 2025 | Barclays | Reiterate | Rating: —Target: $10 | Target: $5 |
| Sep 23, 2025 | Wells Fargo | Reiterate | Rating: —Target: $12 | Target: $10 |
| Sep 22, 2025 | Barclays | Target | Target: $8 | Target: $10 |
| Sep 15, 2025 | Stephens & Co. | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $253.7M · Total debt $56.9M · Total assets $359.4M · Shareholders' equity $247.3M
- Revenue
- $6.6M
- Operating income
- −$26.4M
- Net income
- −$23.6M
No dividends on record.
| Institutions | ≈ 106.62% | 117.89M shares | |
|---|---|---|---|
| 158 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 2.80% | 3.09M shares | |
| 10 holders · as of Sep 21, 2026 | |||
| Adds to | 109.42% | ||
110.57M company shares as of Aug 26, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (123.03M in the company's Sep 22, 2026 report, 110.57M elsewhere); stakes use the report.
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 109.42%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Morgan StanleyInstitution | 8.02% | 8.87M | as of Jun 30, 2026 |
Ra Capital Management, L.P.Institution | 7.24% | 8.00M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 7.14% | 7.90M | as of Jun 30, 2026 |
LYNX1 Capital Management LPInstitution | 6.63% | 7.33M | as of Jun 30, 2026 |
Squadron Capital Management LLCInstitution | 6.51% | 7.20M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jan 16, 2026 | Leonard Reyno | officer: Chief Medical Officer | −10,000 | $2.22 |
- Bristol-Myers Squibb
IKZF1/3 CELMoDs advancing in relapsed/refractory myeloma
- Nurix Therapeutics
Clinical protein degraders across B-cell cancers and discovery
- Monte Rosa Therapeutics
Molecular-glue degraders in oncology and other serious diseases
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| C4 Therapeutics | $3.31 | 0.00% | $364.9M | — | — | 10.4 | +2.8% |
| Bristol-Myers Squibb | $62.31 | +0.10% | $127.91B | 13.8 | 9.7 | 2.6 | +5.7% |
| Nurix Therapeutics | $25.67 | −0.04% | $2.64B | — | — | 71.7 | −79.5% |
| Monte Rosa Therapeutics | $12.78 | +1.35% | $1.04B | — | — | 36.1 | −61.2% |
| Median | 13.8 | 9.7 | 36.1 | −61.2% |