CTMX
HealthcareCytomX Therapeutics, Inc. · Biotechnology · $600M
What is CytomX Therapeutics, Inc.?
CytomX Therapeutics is a clinical-stage oncology biopharmaceutical company built around a proprietary platform technology designed to make cancer antibody therapies more targeted and less toxic. Headquartered in South San Francisco, California, the company focuses exclusively on cancer treatment.
CytomX generates revenue primarily through strategic collaborations with larger pharmaceutical partners, licensing its Probody technology rather than selling approved drugs. The Probody platform conditionally activates antibody therapeutics inside tumor environments, aiming to reduce side effects common with traditional cancer antibodies. Partners including Bristol-Myers Squibb, AbbVie, Amgen, Pfizer, and Astellas Pharma fund development in exchange for access to this platform, while CytomX advances its own pipeline of antibody drug conjugates and immuno-oncology candidates through clinical trials.
CytomX Therapeutics was founded in 2015 and is headquartered in South San Francisco, California.
- Probody technology platform — conditionally activated antibody therapeutics for oncology
- CX-2009 — ADC targeting CD166 in Phase II for breast cancer
- CX-2029 — ADC in Phase II for lung, head and neck, and other solid tumors
- BMS-986249 and BMS-986288 — CTLA-4 Probody drugs developed with Bristol-Myers Squibb
- Strategic collaboration agreements with major pharma partners
Is CTMX a Good Stock to Buy?
UQS Score rates CTMX as Poor overall, reflecting the challenges typical of pre-revenue clinical-stage biotechs.
The Risk pillar stands out as the relative bright spot within CTMX's profile — a notable distinction for a company at this stage of development. This suggests the balance sheet carries characteristics that partially cushion near-term financial exposure, which is meaningful for a pipeline-dependent business.
Quality, Moat, Growth, and Valuation all register as weak or elevated concerns, consistent with a company that has no approved products, depends on partnership milestones, and carries an Elevated valuation relative to its current fundamentals.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does CTMX pay dividends?
No — CytomX Therapeutics, Inc. does not currently pay a dividend.
CytomX does not pay a dividend, which is standard for clinical-stage biopharmaceutical companies. All available capital is directed toward advancing the Probody pipeline and funding clinical trials. Investors in CTMX are effectively betting on future pipeline milestones and partnership value rather than income generation.
When does CTMX report earnings?
CytomX Therapeutics reports financial results on a quarterly cadence, consistent with US-listed public companies.
As a pre-commercial biotech, CytomX's quarterly reports center on cash runway, collaboration revenue from partners, and clinical trial progress rather than product sales. Pipeline updates and partnership milestone announcements tend to move the stock more than traditional earnings metrics.
For the most current quarterly results and pipeline updates, visit CytomX Therapeutics' investor relations page directly.
CTMX Price History
-33.5% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in CytomX Therapeutics, Inc.?
Based on CytomX Therapeutics, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
CTMX Long-term Outlook
The fundamental outlook for CTMX is shaped by its Weak Growth pillar and Elevated Valuation, suggesting the market is pricing in significant future success that the current pipeline has yet to validate. The Good Risk pillar provides some stability, but the path to value creation depends heavily on clinical trial readouts and the ability to expand or renew collaboration agreements with pharmaceutical partners.
Growth drivers
- Positive Phase II data from CX-2009 or CX-2029 could unlock milestone payments and expand partnerships
- Probody platform licensing to additional large pharma partners
- Advancement of earlier-stage candidates like CX-904 and CX-2043 into later trials
Key risks
- Clinical trial failure in any lead program could significantly impair the company's value
- Elevated valuation leaves limited margin of safety if pipeline progress stalls
- Dependence on collaboration partners for funding creates revenue concentration risk
CTMX vs Peers
CytomX operates in a crowded clinical-stage oncology space alongside other small-cap biotechs pursuing differentiated therapeutic platforms.
MeiraGTx focuses on gene therapy rather than antibody platforms, targeting inherited retinal and neurological diseases alongside oncology.
Compass Therapeutics pursues multi-specific antibody approaches in immuno-oncology, competing in the broader antibody therapeutic space without a conditional-activation platform.
Design Therapeutics targets genetic diseases driven by repetitive DNA sequences, differentiating itself from CytomX's oncology-only antibody focus.
Frequently Asked Questions
What does CytomX Therapeutics do?
CytomX Therapeutics develops cancer-fighting antibody therapies using its proprietary Probody technology platform. The platform is designed to activate antibodies selectively inside tumor tissue, potentially reducing side effects. The company advances its own pipeline while licensing the technology to major pharmaceutical partners including Bristol-Myers Squibb, AbbVie, Amgen, and Pfizer.
Does CTMX pay dividends?
No, CytomX does not pay a dividend. The company is in the clinical stage with no approved products, so capital is reinvested into research, clinical trials, and platform development. Dividend payments are not typical for companies at this stage of the biopharmaceutical lifecycle.
When does CTMX report earnings?
CytomX reports on a standard quarterly schedule. Because it is pre-commercial, the most watched figures are cash position and collaboration revenue rather than product sales. For exact reporting dates, check CytomX Therapeutics' investor relations page.
Is CTMX a good stock to buy?
UQS Score rates CTMX as Poor overall. The profile reflects the realities of a clinical-stage biotech — no approved products, weak quality and growth metrics, and an elevated valuation. The relative strength in the Risk pillar is a partial offset. Investors should weigh pipeline risk carefully before forming a view.
Is CTMX overvalued?
The UQS Valuation pillar for CTMX is rated Elevated, meaning the current market price appears high relative to the company's underlying fundamentals. For a pre-revenue biotech, valuation is largely driven by pipeline expectations rather than current earnings, which amplifies both upside and downside risk.
How does CTMX compare to its competitors?
Among small-cap clinical-stage peers like MeiraGTx, Compass Therapeutics, and Design Therapeutics, CytomX is distinguished by its Probody conditional-activation platform and its network of large pharma collaborations. Each peer pursues a different therapeutic modality, making direct comparison dependent on pipeline stage and partnership quality rather than revenue metrics.
What is CTMX's market cap bracket?
CytomX Therapeutics is classified as a small-cap stock. This places it in a segment of the market characterized by higher volatility, lower liquidity relative to large-caps, and greater sensitivity to binary clinical events such as trial results or partnership announcements.
Who founded CytomX Therapeutics?
CytomX Therapeutics was founded in 2015. Founding and leadership details are publicly available through the company's official website and SEC filings, which provide the most accurate and current information on the company's history and executive team.
Is CTMX a long-term quality investment?
As a long-term quality indicator, the UQS Score rates CTMX as Poor. The Weak readings across Quality, Moat, and Growth pillars suggest the company has not yet established the durable business characteristics associated with long-term compounders. Long-term value creation depends entirely on clinical and commercial success that remains unproven.
What is the main competitive advantage of CytomX Therapeutics?
CytomX's core differentiator is its Probody platform, which conditionally activates antibody therapeutics within tumor microenvironments. This approach aims to improve the therapeutic window of cancer antibodies. The platform's appeal to multiple large pharma partners suggests external validation, though the technology has yet to produce an approved drug.
What sector does CTMX belong to?
CytomX Therapeutics operates in the Healthcare sector, specifically within oncology-focused biopharmaceuticals. It sits in the clinical-stage subsegment, meaning it has no commercially approved products and generates revenue primarily through research collaboration agreements rather than drug sales.
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Pro Analysis
CTMX — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 11, 2026 | 19.9 | 16.7 | 14.0 | 7.5 | 71.3 | 0.0 | +4.2 |
| May 10, 2026 | 15.7 | 0.0 | 14.0 | 7.5 | 71.3 | 0.0 | -4.1 |
| Apr 2, 2026 | 19.8 | 16.7 | 14.0 | 7.5 | 71.2 | 0.0 | — |
CTMX — Pillar Breakdown
Quality
— 16.7/100 (25%)CytomX Therapeutics, Inc. currently shows below-average quality metrics, suggesting challenges with profitability.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 7.5/100 (20%)CytomX Therapeutics, Inc. faces growth headwinds with declining or stagnant revenue trends.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Risk
— 71.3/100 (15%)CytomX Therapeutics, Inc. maintains a reasonable risk profile with manageable debt levels.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 0.0/100 (15%)CytomX Therapeutics, Inc. appears expensively valued relative to its fundamentals and growth prospects.
Moat
— 14/100 (25%)CytomX Therapeutics, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for CTMX.
Score Composition
Financial Data
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How is the CTMX UQS Score Calculated?
The UQS (Unified Quality Score) for CytomX Therapeutics, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses CytomX Therapeutics, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether CytomX Therapeutics, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.