5 Best Debt Free Penny Stocks to Invest In

3. CytomX Therapeutics, Inc. (NASDAQ:CTMX)

Number of Hedge Fund Holders: 17

San Francisco, California-based CytomX Therapeutics, Inc. (NASDAQ:CTMX) is a leading clinical-stage biopharmaceutical company focused on the research and development of therapeutics for treatment of cancer. The company is working on the development of a novel class of conditionally activated biologic candidates based on its therapeutic technology platform Probody.

On January 5, CytomX Therapeutics, Inc. (NASDAQ:CTMX) announced a collaboration and licensing agreement with Moderna, Inc. (NASDAQ:MRNA) to create mRNA-based conditionally activated therapies. CytomX Therapeutics, Inc. (NASDAQ:CTMX) will receive an upfront payment of $35 million with the potential to receive up to $1.2 billion in future development, regulatory, and commercial milestone payments.

CytomX Therapeutics, Inc. (NASDAQ:CTMX) has also established strategic collaborations other leading oncology companies including AbbVie Inc. (NYSE:ABBV), Amgen, Inc.(NASDAQ:AMGN), Bristol-Myers Squibb Company (NYSE:BMY), and Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN).