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888C4 Therapeutics C4 Therapeutics Reports Recent Business Highlights and Second Quarter 2021 Financial Results August 11 , 2021 - Dosed First Patient in Phase 1/2 Clinical Trial of CFT7455 , a novel IKZF1 / 3 Degrader , in Hematologic Malignancies ; Data Expected in 2022 - - Received Orphan Drug Designation for CFT7455 for the Treatment of Multiple Myeloma - - Initiated Investigational New Drug ( IND ) -Enabling Activities for CFT8919 , A Selective Degrader of EGFR L858R - - Strengthened Balance Sheet with Public Offering Yielding Gross Proceeds of $ 180.8 Million ; Cash , Cash Equivalents and Marketable Securities of $ 499M as of June 30 , 2021 WATERTOWN , Mass . , Aug. 11 , 2021 ( GLOBE NEWSWIRE ) -- C4 Therapeutics , Inc. ( C4T ) ( Nasdaq : CCCC ) , a clinical - stage biopharmaceutical company pioneering a new class of small - molecule medicines that selectively destroy disease - causing proteins through degradation , today reported business highlights and financial results for the second quarter of 2021 . " In the second quarter , C4T made meaningful progress on our ambitious goals and became a clinical - stage company with the initiation of the CFT7455 Phase 1/2 trial , which has the potential to deliver improved outcomes for patients with hematologic malignancies , " said Andrew Hirsch , chief executive officer at C4 Therapeutics . " We believe C4T's differentiated approach to targeted protein degradation can alter existing paradigms for cancer treatment . With a focus on advancing our research portfolio , we initiated IND - enabling activities for CFT8919 , a potent and selective degrader of EGFR L858R , the driver mutation in more than a third of mutant EGFR lung cancer tumors . Backed by a strong balance sheet , following a successful follow - on offering , we remain on track to deliver four clinical - stage programs by the end of 2022. " SECOND QUARTER 2021 AND RECENT BUSINESS HIGHLIGHTS CFT7455 : CFT7455 is an orally bioavailable MonoDACTM degrader targeting IKZF1 / 3 for the treatment of multiple myeloma ( MM ) and non - Hodgkin's lymphomas ( NHL ) , including peripheral T - cell lymphoma and mantle cell lymphoma . • Received Orphan Drug Designation : In August 2021 , the Food and Drug Administration ( FDA ) granted Orphan Drug Designation to CFT7455 for the treatment of multiple myeloma . • Dosed First Patient in Phase 1/2 Clinical Trial : In June 2021 , C4T announced the dosing of the first patient in our Phase 1/2 clinical trial of CFT7455 in MM and NHL , including peripheral T - cell lymphoma and mantle cell lymphoma . • Presented at the 16th Annual International Conference on Malignant Lymphoma : In June 2021 , C4T presented pre - clinical data demonstrating CFT7455 binds to cereblon with high affinity , thereby inducing potent and deep degradation of IKZF1 in pre - clinical NHL models , and achieved improved in vivo potency and efficacy when compared to approved and investigational IKZF1 / 3 degraders . CFT8919 : CFT8919 is a potent and mutant - selective BiDACTM degrader of epidermal growth factor receptor ( EGFR ) in non - small cell lung cancer ( NSCLC ) . • Advanced CFT8919 towards Clinical Development : In May 2021 , C4T announced its decision to advance CFT8919 toward IND - enabling studies . • Presented at the Keystone Symposium on Targeted Protein Degradation : In June 2021 , C4T presented pre - clinical data showing single agent CFT8919 is active in both in vitro and in vivo models of EGFR L858R - driven NSCLC without resistance - causing secondary mutations in EGFR , as well as in similar models that harbor secondary resistance mutations such as EGFR T790M and C797S . Corporate • Completed Successful Public Offering : In June 2021 , C4T announced the launch and closing of an underwritten public offering of 4,887,500 shares of its common stock , including the exercise in full by the underwriters of their option to purchase additional shares of common stock , at a public offering price of $ 37.00 per share . The aggregate gross proceeds from the offering , before deducting underwriting discounts and commissions and offering expenses , were approximately $ 180.8 million . • Appointed Lauren White as Chief Financial Officer : In May 2021 , C4T appointed Lauren White as chief financial officer . Ms. White joined C4T from Novartis , where she served most recently as vice president and global head of business planning and analysis at Novartis Institutes for BioMedical Research .