WATERTOWN, Mass. — October 16, 2025 — Leads & Copy — C4 Therapeutics Inc. (C4T) (Nasdaq: CCCC) announced the pricing of an underwritten offering expected to generate $125 million in upfront proceeds. The funds will support the next phase of cemsidomide multiple myeloma development, including a registrational Phase 2 trial in combination with dexamethasone and a Phase 1b trial with elranatamab. The offering could potentially yield an additional $225 million.
The offering includes 21,895,000 shares of common stock and pre-funded warrants for up to 28,713,500 shares, offered to select institutional investors. Each share or warrant includes a Class A and Class B warrant to purchase one share at $2.22 per share.
RA Capital Management led the offering, with participation from OrbiMed, Soleus Capital, Lynx1 Capital Management, and Bain Capital Life Sciences.
The Class A warrants are exercisable until 30 days after clinical results from the Phase 1b trial of cemsidomide with elranatamab, or five years from issuance. Class B warrants are exercisable within five years, with potential for mandatory exercise based on stock appreciation.
The combined price is $2.47 per share and warrants, and $2.4699 per pre-funded warrant and warrants. C4T will use the proceeds for clinical trials of cemsidomide, research and development, and general corporate purposes.
Jefferies, TD Cowen, and Evercore ISI are acting as book-running managers for the offering, which is expected to close around October 17, 2025.
The securities were offered under an effective shelf registration statement filed with the SEC. Prospectus copies are available on the SEC website or from Jefferies LLC, TD Securities (USA) LLC, or Evercore Group L.L.C.
This announcement does not constitute an offer to sell or a solicitation of an offer to buy securities.
Contacts:
Investors: Courtney Solberg, Associate Director, Investor Relations, CSolberg@c4therapeutics.com
Media: Loraine Spreen, Senior Director, Corporate Communications & Patient Advocacy, LSpreen@c4therapeutics.com
Source: C4 Therapeutics
