Cytomx Therapeutics nasdaq Ctmx Stock Explodes over 200 What's the Buzz

CytomX Therapeutics (NASDAQ: CTMX) Stock Explodes Over 200% – What’s The Buzz?

CytomX Therapeutics (NASDAQ: CTMX) stock skyrocketed over 200% in intraday trading Wednesday after the company released an update about its upcoming earnings report.

CytomX Therapeutics (CTMX), the biopharmaceutical firm, recently announced plans to release its earnings report for the first quarter of 2024 after the market closes on May 8, 2024. In addition, it will host a conference call on the same day, commencing at 5:00 p.m. ET, to provide further insights into its financial performance and strategic developments.

Investors are keenly awaiting key metrics such as earnings per share (EPS) and revenue, which are anticipated to be pivotal indicators of the company’s financial performance. Analysts on Wall Street expect an EPS of -6 cents, alongside revenue reaching $22.02 million for the quarter.

In the fourth quarter of 2023, CytomX Therapeutics reported an EPS of 1 cent and revenue of $26.6 million, offering a reference point for evaluating its quarterly performance.

Furthermore, CytomX plans to provide a clinical update on its Phase 1a trial of CX-904, a promising cancer treatment under development by the company in collaboration with Amgen (NASDAQ: AMGN).

CytomX Therapeutics (NASDAQ: CTMX) Stock Reaction

CTMX stock soared 214.72% to close at $5.13 on Wednesday. Its value has risen by 214.72% this week. Trading activity has witnessed 203,218,221 (203.21 million) shares changing hands, well above the average daily volume of 928.95K.