C4 Therapeutics (CCCC) Jefferies Global Healthcare Conference 2026 summary

Key program updates and clinical data

• Lead program cemsidomide shows a 36% overall response rate, with up to 53% at the highest dose in heavily pretreated patients, and a differentiated safety profile with low neutropenic complications and dose reductions.

• MOMENTUM phase II study targets fourth-line-plus patients, aiming for registrational intent, with initial data expected in H2 2027 and regulatory endpoints in mid-2028.

• Phase I-B combination study with elranatamab (Pfizer's BCMA BiTE) is underway, with full data anticipated mid-2027 and ongoing updates during dose escalation.

Strategic positioning and market landscape

• Development strategy focuses on late-line settings and combination regimens, leveraging cemsidomide's efficacy and tolerability to address evolving treatment paradigms in multiple myeloma.

• Market opportunity for cemsidomide estimated at $1–1.5 billion in fourth-line and up to $4 billion with second-line combinations.

• No plans for head-to-head studies against existing IKZF1/3 degraders; strategy is to secure late-line labels and establish broad combinability.

Safety, efficacy, and differentiation

• Cemsidomide demonstrates lower rates of dose reductions (6%) and G-CSF use (36%) compared to competitors, supporting a favorable safety profile.

• Consistent grade 4 neutropenia rates across dose cohorts, with efficacy expected to translate to larger, global populations.

• Strategy aims to combine optimal efficacy and safety, differentiating from other agents that trade off between these attributes.