CytomX Therapeutics
CTMX on Nasdaq. CytomX Therapeutics develops cancer therapies for patients. Market value $562m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-14.67 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 28 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
$2.58 a share, 4% above its 1-year low
Over the past year the price has ranged from $2.48 to $8.21.
Pays no dividend
Prices from Monday’s close (5 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $37m | $53m | $101m | $138m | $76m |
| Operating margin | |||||
| Operating margin | -311.0% | -190.6% | -6.4% | 18.1% | -29.3% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.07bn | 0.07bn | 0.08bn | 0.17bn | 0.22bn |
Health checks
- Free cash flow positive0 of 5 years
- Accounting checksSkipped: company is not yet profitable
- DebtUnknown
- Revenue growth, five yearsSlow, 2.2% a year
- Buying back its own sharesNo, 230% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $1 million last quarter, down 92% on a year ago.
- A loss of $21 million, compared with a loss of $154,000 a year ago.
- It loses 476 cents on each $1 of sales, after keeping 31 cents a year earlier.
- Over the past 12 months it spent $82 million more cash than it brought in, compared with $78 million a year earlier.
- 70% more shares than a year ago. Each share owns a bit less of the company.
- Sales did not grow on a year ago in any of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $33m |
| December 2024 | $38m |
| March 2025 | $51m |
| June 2025 | $19m |
| September 2025 | $6m |
| December 2025 | $663,000 |
| March 2026 | $10m |
| June 2026 | $1m |
| Quarter to | Amount |
|---|---|
| September 2024 | $6m |
| December 2024 | $19m |
| March 2025 | $24m |
| June 2025 | -$154,000 |
| September 2025 | -$14m |
| December 2025 | -$27m |
| March 2026 | -$18m |
| June 2026 | -$21m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 16 March 2026
- Next quarterly (estimated, 10-Q)
- 5 November 2026
Who owns it
None of the long-term investors we follow own it. 179 funds in all.
Largest holders overall
- FMR$123mAdded
- Kynam Capital Management, LP$81mAdded
- BlackRock$66mAdded
- Bank of America$57mAdded
- State Street$44mAdded
- Perceptive Advisors$39mAdded
- Vanguard Capital Management$32mCut
- Point72 Asset Management, L.P.$29m
- Wellington Management Group LLP$19mAdded
- Venrock Adviser$19mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
10 investors own more than 5%.
- FMR LLCPassive investorat least 14.6%+2.2 pts(filed with 1 related holder)Since 31 December 2025
- Kynam Capital Management, LPPassive investorat least 10.0%+3.1 pts(filed with 2 related holders)Since 30 June 2026
- BlackRock, Inc.Passive investor7.6%Since 30 June 2026
- BANK OF AMERICA CORP /DE/Passive investor7.0%Since 30 June 2026
- Patrick G. EnrightPassive investorat least 7.0%−0.3 pts(filed with 5 related holders)Since 31 March 2026
- STATE STREET CORPORATIONPassive investor5.4%Since 30 June 2026
- Perceptive Advisors LLCPassive investorat least 4.6%−1.3 pts(filed with 2 related holders)Since 31 March 2026
- Venrock Healthcare Capital Partners III, L.P.Passive investorat least 4.6%−4.8 pts(filed with 6 related holders)Since 31 March 2026
- Point72 Asset Management, L.P.Passive investorat least 3.6%−1.4 pts(filed with 2 related holders)Since 30 June 2026
- BVF PARTNERS L P/ILPassive investorat least 3.5%−3.3 pts(filed with 9 related holders)Since 3 July 2025
- OrbiMed Advisors LLCPassive investorSold down below 5%Since 31 December 2025
- Seven Fleet Capital Management LPPassive investorSold down below 5%Since 31 March 2026
- Seven Fleet Partners LPPassive investorSold down below 5%Since 13 May 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
- TANG CAPITAL MANAGEMENT, LLCPassive investorSold down below 5%Since 31 December 2025
- JANUS HENDERSON GROUP PLCPassive investorSold down below 5%Since 31 December 2024
| Holder | Stake | Since | |
|---|---|---|---|
FMR LLC Passive investor | at least 14.6%+2.2 pts (filed with 1 related holder) | 31 December 2025 | |
Kynam Capital Management, LP Passive investor | at least 10.0%+3.1 pts (filed with 2 related holders) | 30 June 2026 | |
BlackRock, Inc. Passive investor | 7.6% | 30 June 2026 | |
BANK OF AMERICA CORP /DE/ Passive investor | 7.0% | 30 June 2026 | |
Patrick G. Enright Passive investor | at least 7.0%−0.3 pts (filed with 5 related holders) | 31 March 2026 | |
STATE STREET CORPORATION Passive investor | 5.4% | 30 June 2026 | |
Perceptive Advisors LLC Passive investor | at least 4.6%−1.3 pts (filed with 2 related holders) | 31 March 2026 | |
Venrock Healthcare Capital Partners III, L.P. Passive investor | at least 4.6%−4.8 pts (filed with 6 related holders) | 31 March 2026 | |
Point72 Asset Management, L.P. Passive investor | at least 3.6%−1.4 pts (filed with 2 related holders) | 30 June 2026 | |
BVF PARTNERS L P/IL Passive investor | at least 3.5%−3.3 pts (filed with 9 related holders) | 3 July 2025 | |
OrbiMed Advisors LLC Passive investor | Sold down below 5% | 31 December 2025 | |
Seven Fleet Capital Management LP Passive investor | Sold down below 5% | 31 March 2026 | |
Seven Fleet Partners LP Passive investor | Sold down below 5% | 13 May 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 | |
TANG CAPITAL MANAGEMENT, LLC Passive investor | Sold down below 5% | 31 December 2025 | |
JANUS HENDERSON GROUP PLC Passive investor | Sold down below 5% | 31 December 2024 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 4 sold $2m, $1m of it under preset trading plans.
- Ogden ChristopherChief Financial OfficerSold
- Date
- 15 June 2026
- Shares
- 1,624
- Price
- $3.05
- Value
- $4,953
- Chu Yu-WayeChief Medical OfficerSold
- Date
- 17 March 2026
- Shares
- 21,279
- Price
- $6.42
- Value
- $136,611
- McCarthy Sean A.CEO, DirectorSoldunder a preset trading plan
- Date
- 17 March 2026
- Shares
- 118,969
- Price
- $6.42
- Value
- $763,781
- BELVIN MARCIASVP, Chief Scientific OfficerSold
- Date
- 17 March 2026
- Shares
- 31,492
- Price
- $6.42
- Value
- $202,179
- Ogden ChristopherChief Financial OfficerSold
- Date
- 17 March 2026
- Shares
- 19,323
- Price
- $6.42
- Value
- $124,054
- McCarthy Sean A.CEO, DirectorSoldunder a preset trading plan
- Date
- 6 November 2025
- Shares
- 101,793
- Price
- $4.54
- Value
- $462,140
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 15 June 2026 | Ogden Christopher Chief Financial Officer | Sold | 1,624 | $3.05 | $4,953 |
| 17 March 2026 | Chu Yu-Waye Chief Medical Officer | Sold | 21,279 | $6.42 | $136,611 |
| 17 March 2026 | McCarthy Sean A. CEO, Director | Sold under a preset trading plan | 118,969 | $6.42 | $763,781 |
| 17 March 2026 | BELVIN MARCIA SVP, Chief Scientific Officer | Sold | 31,492 | $6.42 | $202,179 |
| 17 March 2026 | Ogden Christopher Chief Financial Officer | Sold | 19,323 | $6.42 | $124,054 |
| 6 November 2025 | McCarthy Sean A. CEO, Director | Sold under a preset trading plan | 101,793 | $4.54 | $462,140 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 16 Mar 2026, plus the 10-Q filed 6 Aug 2026 and 6 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.