The company's financial position appears increasingly vulnerable, with retained earnings plummeting to -$763.8M and total assets contracting from $398.4M in 2024Q1 to $328.9M in 2026Q1.
| Total Current Assets | 245.37M | 258.11M | 257.77M | 271.19M | 287.56M | 325.69M | 381.01M | 96.77M | 123.53M |
| Cash & Short-Term Investments | 235.67M | 248.54M | 244.9M | 253.68M | 276.15M | 309.28M | 371.69M | 90.55M | 36.31M |
| Cash Only | 61.27M | 74.6M | 55.5M | 126.59M | 29.75M | 76.12M | 181.73M | 90.55M | 36.31M |
| Short-Term Investments | 174.4M | 173.93M | 189.41M | 127.09M | 246.4M | 233.16M | 189.96M | 0 | 0 |
| Accounts Receivable | 2.88M | 2.4M | 3.1M | 11.8M | 1.47M | 5.72M | 4.48M | 4.62M | 86.44M |
| Days Sales Outstanding | 36.6 | 24.38 | 31.82 | 207.49 | 17.29 | 45.57 | 49.3 | 78.92 | 1.63K |
| Inventory | 0 | 0 | 0 | 0 | -60.96M | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 6.82M | 7.17M | 9.76M | 5.71M | 70.89M | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 83.49M | 100.97M | 91.83M | 105.26M | 143.28M | 181.08M | 19.13M | 21.49M | 22.96M |
| Property, Plant & Equipment | 43.58M | 45.28M | 63.38M | 71.09M | 77.52M | 35.05M | 16.55M | 18.92M | 20.38M |
| Fixed Asset Turnover | 0.71x | 0.79x | 0.56x | 0.29x | 0.40x | 1.31x | 2.01x | 1.13x | 0.95x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 107.79M | 0 | 22.36M | 28.01M | 60.96M | 142.2M | 0 | 0 | 2.58M |
| Other Non-Current Assets | 3.86M | 55.69M | 6.1M | 6.17M | 4.8M | 3.82M | 2.58M | 2.58M | 0 |
| Total Assets | 328.86M | 359.07M | 349.6M | 376.45M | 430.84M | 506.76M | 400.14M | 118.26M | 146.49M |
| Asset Turnover | 0.11x | 0.10x | 0.10x | 0.06x | 0.07x | 0.09x | 0.08x | 0.18x | 0.13x |
| Asset Growth % | -45.96% | 2.71% | -7.13% | -12.62% | -14.98% | 26.65% | 238.35% | -19.27% | - |
| Total Current Liabilities | 27.25M | 33.03M | 45.18M | 42.77M | 44.55M | 51.25M | 43.85M | 33.64M | 23.95M |
| Accounts Payable | 773K | 858K | 1.33M | 1.45M | 1.17M | 4.51M | 5.68M | 5.38M | 1.15M |
| Days Payables Outstanding | 262.45 | 39.27 | - | 68.22 | - | - | 26.44 | - | 14.73 |
| Short-Term Debt | 6.52M | 6.37M | 0 | 0 | 2.29M | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 62.36M | 12.49M | 18.71M | 15.47M | 16.62M | 31.8M | 27.6M | 20.7M | 19.11M |
| Other Current Liabilities | 5.64M | 13.31M | 9.3M | 9.39M | 3.11M | 5.5M | 4.19M | 3.33M | 1.26M |
| Current Ratio | 9.00x | 7.81x | 5.71x | 6.34x | 6.46x | 6.36x | 8.69x | 2.88x | 5.16x |
| Quick Ratio | 9.00x | 7.81x | 5.71x | 6.34x | 7.82x | 6.36x | 8.69x | 2.88x | 5.16x |
| Cash Conversion Cycle | -225.85 | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 67.36M | 69.46M | 88.44M | 87.57M | 97.06M | 65.91M | 75.5M | 196.58M | 202.29M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 9.2M | 10.77M | 10.05M | 0 | 0 |
| Capital Lease Obligations | 217.64M | 53.62M | 59.98M | 65.76M | 70.97M | 30.78M | 11.83M | 12.87M | 13.75M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -13.75M |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 111M | 111M |
| Total Liabilities | 94.61M | 102.49M | 133.62M | 130.34M | 141.61M | 117.16M | 119.35M | 230.22M | 226.24M |
| Total Debt | 58.45M | 59.98M | 65.76M | 70.98M | 87.15M | 42.88M | 22.92M | 13.75M | 14.48M |
| Net Debt | -2.83M | -14.62M | 10.26M | -55.61M | 57.4M | -33.24M | -158.81M | -76.8M | -21.83M |
| Debt / Equity | 0.25x | 0.23x | 0.30x | 0.29x | 0.30x | 0.11x | 0.08x | - | - |
| Debt / EBITDA | -0.53x | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.03x | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | -94.57x | -56.84x | -38.11x | -49.19x | - | - |
| Total Equity | 234.25M | 256.59M | 215.99M | 246.11M | 289.23M | 389.61M | 280.79M | -111.96M | -79.75M |
| Equity Growth % | -27.07% | 18.8% | -12.24% | -14.91% | -25.76% | 38.75% | 350.79% | -40.39% | - |
| Book Value per Share | 1.86 | 3.10 | 3.11 | 4.96 | 5.92 | 8.46 | 6.52 | -2.60 | -1.89 |
| Total Shareholders' Equity | 234.25M | 256.59M | 215.99M | 246.11M | 289.23M | 389.61M | 280.79M | -111.96M | -79.75M |
| Common Stock | 10K | 9K | 7K | 6K | 5K | 5K | 4K | 0 | 1K |
| Retained Earnings | -763.82M | -738.69M | -633.7M | -528.38M | -395.89M | -267.71M | -183.82M | -117.49M | -83.39M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -6.14M |
| Accumulated OCI | -322K | 50K | 53K | -127K | -4.14M | -775K | 13K | 0 | -2.5M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Capital structure dilution risk
As reported in financial statements, C4 Therapeutics' total assets have declined from $398.4M in 2024Q1 to $328.9M in 2026Q1, reflecting a consistent erosion of the balance sheet as the company consumes capital to fund its ongoing clinical development programs and operational overhead.
The downward trend in total assets suggests that the company is liquidating its resource base faster than it can replenish it through milestone-driven revenue or external financing. This trajectory warrants close monitoring, as the diminishing asset base may limit the company's future flexibility to pivot or extend its clinical runway.
Based on reported figures, the company's cash and equivalents fell to $61.3M in 2026Q1, a significant reduction from the $126.6M held in 2023Q4, indicating that the current liquidity buffer is rapidly depleting relative to the company's persistent quarterly operating cash burn.
While the current ratio remains elevated at 9.00, this metric is heavily influenced by the timing of deferred revenue and does not accurately reflect the company's ability to fund long-term R&D. Investors should interpret this liquidity profile as a signal that the company may face imminent pressure to secure non-dilutive partnerships or execute equity offerings.
According to recent SEC filings, retained earnings have plummeted to -$763.8M as of 2026Q1, illustrating the substantial cumulative cost of maintaining the TORPEDO platform and advancing clinical candidates without a self-sustaining commercial product to offset the heavy R&D investment.
The consistent decline in equity value suggests that the company's primary method of funding operations has been through the consumption of shareholder capital. This trend implies that future value creation is entirely dependent on the successful clinical validation of the pipeline, as the current equity structure offers little cushion against further operational setbacks.
As indicated by the $25.6M in deferred revenue reported in 2026Q1, the balance sheet contains a significant liability that represents future performance obligations rather than cash, which may mislead investors regarding the company's true financial health and its ability to generate near-term cash inflows.
This liability suggests that a portion of the company's reported revenue is tied to future research milestones, which are inherently uncertain and subject to clinical trial outcomes. Consequently, the balance sheet may appear more stable than it actually is, as these obligations require continued R&D expenditure that could further strain the company's limited cash reserves.
Quick answers to the most common questions about buying CCCC stock.
As of 2025, C4 Therapeutics, Inc. (CCCC) had total assets of $359.1M including $258.1M in current assets.
C4 Therapeutics, Inc. (CCCC) carries total debt of $60.0M, offset by $248.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
C4 Therapeutics, Inc. (CCCC) has total shareholders' equity (book value) of $256.6M ($3.10 book value per share). Book value represents the net worth of the company belonging to common stock holders.
C4 Therapeutics, Inc. (CCCC) reported a current ratio of 7.81x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.