SOUTH SAN FRANCISCO - CytomX Therapeutics, Inc. (NASDAQ:CTMX), a clinical-stage biopharmaceutical company specializing in conditionally activated biologics, today announced the appointment of Dr. Zhen Su to its board of directors. Dr. Su, a seasoned physician executive with a wealth of experience in oncology therapeutic development, joins the company's leadership to provide strategic guidance for its PROBODY® therapeutic pipeline.
Dr. Su currently serves as CEO of Marengo Therapeutics and has played a pivotal role in advancing Marengo's lead asset into clinical trials, as well as establishing a significant $1.6 billion partnership with Ipsen.
His previous roles include senior vice president and global head of the oncology business franchise at Merck KGaA, chief medical officer at EMD Serono, and leadership positions at Sanofi (EPA:SASY) (NASDAQ:SNY) and GlaxoSmithKline (NYSE:GSK). Dr. Su's academic background includes time on the faculty of Duke University Medical School and as director of the cell and gene therapy program at the University of Florida.
Sean McCarthy, D.Phil., CEO and chairman of CytomX, expressed enthusiasm for Dr. Su's appointment, highlighting his alignment with the company's vision of transforming lives through safer, more effective therapies. Dr. Su's expertise is expected to be instrumental in guiding CytomX's growth and its pipeline of novel biologics, which includes therapeutic candidates such as antibody-drug conjugates, T-cell engagers, and immune modulators.
CytomX's proprietary technology aims to localize treatment to the tumor microenvironment, potentially improving the safety and efficacy of cancer therapies. The company's clinical-stage pipeline features several promising candidates, including CX-904, CX-2051, and CX-801, which target various aspects of cancer treatment.
Dr. Su expressed his eagerness to contribute to CytomX's mission, citing the company's innovative approach and the potential of its PROBODY® platform to meet significant unmet needs in oncology.
The information in this article is based on a press release statement from CytomX Therapeutics, Inc.
InvestingPro Insights
CytomX Therapeutics, Inc. (NASDAQ:CTMX) has made a strategic move with the appointment of Dr. Zhen Su to its board of directors. This addition comes at a time when the company's financial health and market performance are of particular interest to investors. Here are some insights based on recent data from InvestingPro:
InvestingPro Data shows that CytomX holds a market capitalization of $153.73 million. Despite facing challenges such as a negative P/E ratio of -283.75 and a significant expected drop in net income this year, the company has demonstrated substantial revenue growth over the last twelve months as of Q4 2023, with an impressive increase of 90.38%.
InvestingPro Tips indicate that CytomX has been experiencing a strong return over the past week, month, and three months, with the one-month price total return reaching 56.55% and a six-month price total return of 69.4%. Moreover, the company holds more cash than debt on its balance sheet, which can be a reassuring sign for investors considering the company's financial stability.
However, it's worth noting that analysts do not anticipate CytomX will be profitable this year, and the company has not been profitable over the last twelve months. Also, CytomX does not pay a dividend to shareholders, which might be a consideration for income-focused investors.
For those interested in a deeper analysis, InvestingPro offers additional insights and metrics. By using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are 9 additional InvestingPro Tips available for CytomX, which can be found at https://www.investing.com/pro/CTMX, providing a comprehensive overview of the company's financial health and stock performance.
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