C4 Therapeutics, Inc. (CCCC) Stock

C4 Therapeutics, Inc. (CCCC) is a Healthcare stock trading at $4.00 (as of 2026-08-21), with a market capitalization of $492.10M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

C4 Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing small-molecule therapeutic candidates designed to degrade disease-related proteins. Its pipeline includes MonoDAC and BiDAC degraders, such as CFT7455 and CFT8634, in clinical trials for cancers and other diseases, and it also has earlier-stage programs; it works on these therapies for patient populations with targeted conditions.

Understand C4 Therapeutics, Inc.: how it makes money

C4 Therapeutics develops clinical-stage cancer and neurodegeneration drugs that degrade disease-causing proteins, mainly through its orally bioavailable MonoDAC degrader CFT7455 (targeting IKZF1 and IKZF3) and its BiDAC degrader CFT8634 (targeting BRD9), and it earns non-commercial revenue from collaboration and milestone agreements.

The companys near-term profit model depends on partnership-driven collaboration and milestone payments rather than commercial product sales, so trial progress for its candidates (and continued partner economics) is the key driver of when cash inflows show up.

Revenue by segment (latest quarter)
Collab revenue	$0.0B
Biogen milestone	$0.0B

Business quality (Weak): Early-stage clinical development with small partnership revenue, operating losses, and operating KPIs dominated by response rates and trial participation, which means outcomes and partner payments timing are likely the main near-term uncertainties.

Bull case

Focused, targeted protein-degrader pipeline: CFT7455 is an orally bioavailable MonoDAC degrader targeting IKZF1 and IKZF3, in a Phase 1/2 trial for multiple myeloma and non-Hodgkin lymphomas.
Early response-rate signals shown in the provided operating metrics: The provided operating metrics include an Overall Response Rate at One Hundred Micrograms of 53% and at Seventy Five Micrograms of 40%.
Some partnership monetization already present: In the latest provided quarter, the company reported Revenue from Collaboration Agreements (0.01B) and Biogen Milestone Revenue (0.01B), indicating at least some non-dilutive support tied to collaborations.

Bear case

Ongoing operating losses: The latest provided financials show an operating margin of -451.6%, consistent with a company that is not yet generating sustainable operating profits.
Revenue base appears small and tied to external agreements: The provided segment revenue candidates are collaboration and milestone related, with Betta License and Supply Agreement Revenue at 0.0B in the candidate list, suggesting limited visible commercial revenue.
Clinical outcomes and durability are still uncertain: Because the primary operating KPIs provided are response-rate based in early-dose contexts, future results and confirmation in later settings remain key risks.

Valuation — source: SEC EDGAR (first-party)
Price	$4.00
Market Cap	$492.10M
Price / Book	1.99
Price / Sales	16.31
FCF Yield	-34.3%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$35.95M
Net Margin	-292.1%
Revenue Growth (YoY)	1.0%
EPS Growth (YoY)	-16.4%
FCF Growth (YoY)	52.0%

Financial Health — source: SEC EDGAR
Altman Z-Score	-0.80 (distress)

Valuation vs Sector & Industry
Sector P/E (Healthcare)	21.7
Industry P/E (Pharmaceutical Products)	17.2

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	MORGAN STANLEY ($23.86M)
Institutional Holders Tracked	10

Company
Sector	Healthcare
Industry	Pharmaceutical Products
CEO	Andrew J. Hirsch
Employees	110
Country	US
IPO Date	2020-10-02

Related Companies (Business model: Biotech (Clinical / Commercial-Stage); 8 closest by market cap; US-domiciled)

Data as of 2026-08-21.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.