C4 Therapeutics Inc (CCCC)

[B RY]

Jan 29, 2024. "JP Morgan upgraded C4 Therapeutics (NASDAQ:CCCC) to neutral, citing its improved pipeline outlook.

The investment bank said it was upgrading the stock after taking a “deeper look” at data released in December from a Phase 1 study for CFT7455, “having gained more comfort with the case for differentiation from key IMiD/CELMoD competitors, namely mezigdomide.”

JP Morgan said if the company can provide a sustained case for differentiation over mezigdomide with additional data readouts, it sees the drug “being a strategically attractive complement to existing multiple myeloma franchises.”

The bank said that it based the upgrade on its “cautiously optimistic CFT7455 outlook along with initial promising data for CFT1946 in BRAFi resistant tumors,” which offers “additional pipeline optionality.”
https://seekingalpha.com/news/4059658-jp-morgan-upgrades-c4-therapeutics-to-neutral-cites-pipeline