12 Best Biotech Penny Stocks To Invest In Now

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7. C4 Therapeutics, Inc. (NASDAQ:CCCC)

Number of Hedge Fund Investors: 21

Stock Price as of December 26: $3.87

C4 Therapeutics, Inc. (NASDAQ:CCCC) is a clinical-stage biopharmaceutical company dedicated to the discovery and development of novel therapies for the treatment of cancer and other serious diseases. The company’s innovative approach centers on the use of targeted protein degradation, a cutting-edge technology that aims to eliminate disease-causing proteins by hijacking the body’s natural protein disposal system.

C4 Therapeutics, Inc. (NASDAQ:CCCC) is developing CFT1946, an oral degrader targeting mutated BRAF, a key driver in various solid tumors, including melanoma, colorectal cancer, and lung cancer. The company presented early data from a phase 1 study at the European Society for Medical Oncology (ESMO) 2024 meeting. The data showed promising results, with no dose-limiting toxicities and two confirmed partial responses out of 27 evaluable patients. The trial is ongoing, with additional cohorts being enrolled, including patients with melanoma and those receiving CFT1946 in combination with cetuximab for colorectal cancer. Multiple readouts from this phase 1 study are expected in 2025, which could provide further validation of CFT1946’s potential.

C4 Therapeutics, Inc.’s (NASDAQ:CCCC) lead candidate, cemsidomide, formerly CFT7455 plays a crucial role in the survival and proliferation of certain blood cancers. The company has been advancing cemsidomide through a phase 1/2 clinical trial, initially focusing on patients with heavily pretreated multiple myeloma. The company is partnering with leading pharmaceutical companies to enhance its research and development capabilities. The partnership with Merck, in particular, has been instrumental in providing both financial support and scientific expertise.

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