CytomX Therapeutics, Inc. 8-K

What Happened

• CytomX Therapeutics, Inc. announced it entered an underwriting agreement on March 17, 2026 and closed an offering on March 19, 2026. The company sold 45,990,567 shares of common stock and issued pre-funded warrants to purchase 1,179,245 additional shares.
• The public offering price was $5.30 per share and $5.29999 per pre-funded warrant. The company estimates net proceeds of approximately $234.4 million after underwriting discounts, commissions and offering expenses.
• The underwriting agreement includes a 30-day option for the underwriters to purchase up to 7,075,471 additional shares at the public offering price. The offering was made under a Form S-3 registration statement and related prospectus supplement.

Key Details

• Shares sold: 45,990,567 common shares; Pre-funded warrants: 1,179,245.
• Offering price: $5.30 per common share; $5.29999 per pre-funded warrant.
• Estimated net proceeds: ~$234.4 million (after fees and expenses).
• Underwriters’ option: up to 7,075,471 additional shares exercisable for 30 days.

Why It Matters

• The offering raises significant cash for CytomX, which the company says it will use to continue development of Varseta-M and other pipeline programs, and for general corporate and working capital needs.
• For investors, the raise reduces near-term financing risk but increases share count (dilution). The additional underwriter option could lead to further dilution if exercised.