Latham & Watkins Advises CytomX Therapeutics on US$250 Million Offering of Common Stock and Pre‑Funded Warrants

CytomX Therapeutics, Inc. (Nasdaq: CTMX), a leader in the field of masked, conditionally activated biologics, has announced the pricing of an underwritten public offering of 45,990,567 shares of its common stock at a public offering price of US$5.30 per share and, in lieu of common stock to certain investors, pre‑funded warrants to purchase 1,179,245 shares of common stock. The gross proceeds to CytomX from the offering are expected to be US$250 million, before deducting underwriting discounts and commissions and estimated offering expenses. In addition, CytomX granted the underwriters a 30‑day option to purchase up to an additional 7,075,471 shares of its common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on March 19, 2026, subject to customary closing conditions. All of the shares of common stock and pre‑funded warrants are being sold by CytomX.

Latham & Watkins LLP represents CytomX Therapeutics in the offering with a corporate team led by Bay Area partners Mark Roeder and John Williams, with associates Greg Van Buiten, Sheen Moaleman,* Bridget Carmody, and Isaac Gonzalez. Advice was also provided on intellectual property matters by Bay Area partner Kate Hillier, with associate Dylan O’Connor; on data privacy matters by Bay Area partner Heather Deixler, with associate Chad Leiper; on healthcare matters by Bay Area partner Betty Pang; on FDA matters by Washington, D.C. partner Nathan Beaton, with associate Evan Miller; on tax matters by Bay Area partner Grace Lee, with associate Dennis Poehland; and on executive compensation, employment, and benefits matters by Bay Area partner James Metz.

*Admitted to practice in New York only.