In a recent transaction, Marcia Belvin, the Senior Vice President and Chief Scientific Officer of CytomX Therapeutics, Inc. (NASDAQ:CTMX), sold 12,795 shares of the company's common stock. The transaction, dated March 19, 2024, involved shares sold at a price of $2.0855, totaling approximately $26,683.
The sale was conducted to satisfy tax or other government withholding obligations associated with the vesting of restricted stock units, as noted in a footnote of the filing. Following the transaction, Belvin's direct ownership in CytomX Therapeutics includes 168,579 shares, which takes into account 109,166 restricted stock units.
CytomX Therapeutics, based in South San Francisco, California, operates in the pharmaceutical preparations industry. The company's business address and the reporting owner's mailing address are both located at 151 Oyster Point Blvd., Suite 400, South San Francisco, CA, 94080.
The sale was publicly reported in a Form 4 document filed with the Securities and Exchange Commission on March 21, 2024, with the signature of Lloyd Rowland, Attorney-in-Fact for Marcia Belvin, confirming the accuracy of the report on the same date.
InvestingPro Insights
As CytomX Therapeutics, Inc. (NASDAQ:CTMX) experiences changes in insider ownership, investors are closely monitoring the company's financial health and market performance. According to real-time data from InvestingPro, CytomX Therapeutics has a market capitalization of $151.7 million. Despite not being profitable in the last twelve months, the company has seen a significant uptick in its stock price, with a 1-month price total return of 56.55% and a 3-month return of 60.99%.
InvestingPro Tips for CytomX Therapeutics highlight that the company holds more cash than debt on its balance sheet, providing a level of financial stability. However, analysts have raised concerns about the company's cash burn rate and do not expect it to be profitable this year. With a substantial revenue growth of 90.38% in the last twelve months as of Q4 2023, the company's growth trajectory is notable, but it is yet to translate into net income, which is expected to drop this year.
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