10 Cheap Growth Stocks to Buy Now

7. CytomX Therapeutics Inc. (NASDAQ:CTMX)

Price to Earnings ratio: 3.86

CytomX Therapeutics Inc. (NASDAQ:CTMX) is a clinical-stage biopharmaceutical company focused on developing innovative oncology treatments using its PROBODY therapeutic technology platform. CTMX is one of the best cheap growth stocks to buy.

​In January 2025, CytomX Therapeutics Inc. (NASDAQ:CTMX) announced a strategic realignment to focus on its lead program, CX-2051. It is a PROBODY antibody-drug conjugate (ADC) targeting EpCAM for advanced metastatic colorectal cancer. This initiative included a 40% reduction in workforce, primarily affecting non-partnered early research and administrative functions, aiming to extend the company’s cash runway into the second quarter of 2026.

CytomX Therapeutics Inc. (NASDAQ:CTMX) reported strong revenue growth in Q3 2024, with total revenue rising to $33.4 million from $26.4 million in Q3 2023. This was primarily due to increased research collaboration with Bristol Myers Squibb. However, operating expenses also increased, with R&D expenses climbing to $21.4 million from $16.5 million a year prior, driven by higher clinical and manufacturing costs for CX-2051 and CX-904. General and administrative expenses also rose slightly to $8.0 million due to higher professional service costs. The company ended the quarter with $117.6 million in cash, down from $137.2 million in Q2 2024. It remains confident that existing capital will fund operations through the end of 2025.