Context Therapeutics Reports Full Year 2024 Operating and Financial Results

Key Takeaways:

• Context Therapeutics reported $94.4 million in cash reserves, expected to fund operations into 2027.
• The company dosed its first patient with CTIM-76 in January 2025.
• Strategic acquisitions of CT-95 and CT-202 expanded their cancer treatment pipeline.
• Upcoming Phase 1 trials and anticipated data releases in 2025 and 2026.
• Increased R&D expenses reflect investment in innovative therapies.

Financial Strength Fuels Cancer Research

Context Therapeutics has announced its financial results for the year ended December 31, 2024, revealing a robust cash position of $94.4 million. This significant increase from $14.4 million the previous year is expected to fund the company’s operations into 2027. The strong financial footing underscores Context’s commitment to advancing its clinical programs in cancer immunotherapy.

“With the expansion of our pipeline through the acquisition of CT-95 and the in-licensing of CT-202, as well as significant progress in our candidate, CTIM-76, we have positioned ourselves to make meaningful advancements in the treatment of solid tumors,” said Martin Lehr, CEO of Context Therapeutics.

Progress in Clinical Trials

A major milestone was achieved in January 2025 when the first patient was dosed with CTIM-76, a T cell-engaging bispecific antibody targeting CLDN6-positive ovarian, endometrial, and testicular cancers. The initiation of this Phase 1 clinical trial represents a critical step in assessing the potential of CTIM-76 as a novel treatment option.

The company anticipates sharing initial clinical data from the CTIM-76 trial in the first half of 2026. Additionally, Context plans to begin dosing patients in a Phase 1 trial for CT-95, targeting mesothelin-expressing cancers, in the second quarter of 2025, with initial data expected in mid-2026.

Strategic Pipeline Expansion

In 2024, Context Therapeutics expanded its pipeline through strategic acquisitions and licensing agreements. In July, the company completed the acquisition of CT-95, a potentially first-in-class Mesothelin x CD3 T cell-engaging bispecific antibody that has received investigational new drug (IND) clearance from the U.S. Food and Drug Administration.

Furthermore, in September 2024, Context announced an exclusive worldwide license agreement with BioAtla, Inc. to develop and commercialize CT-202, a Nectin-4 x CD3 T cell-engaging bispecific antibody. An IND application for CT-202 is expected to be filed in mid-2026.

Investment in Innovation

The company’s research and development expenses increased to $22.7 million in 2024, up from $17.8 million in 2023. This rise was primarily driven by $14.75 million in in-process research and development charges related to the acquisition of CT-95 and the in-licensing of CT-202. These investments reflect Context’s dedication to advancing innovative therapies in oncology.

General and administrative expenses remained stable at $7.2 million for 2024, compared to $7.3 million the previous year. The net loss for the year was $26.7 million, slightly higher than the $24.0 million reported in 2023, attributable to the increased R&D expenditures.

Leadership and Corporate Developments

Context Therapeutics strengthened its leadership team in 2024 and early 2025 with key appointments aimed at supporting the company’s growth. In August 2024, Claudio Dansky Ullmann, M.D., was appointed as Chief Medical Officer. The board of directors welcomed Dr. Karen Smith and Dr. Luke Walker in September 2024, followed by Andy Pasternak’s appointment as Chairman in January 2025.

The company also announced plans to present a poster highlighting first dose selection and preclinical results for CT-95 at the upcoming American Association for Cancer Research (AACR) Annual Meeting in April 2025.

A Forward-Looking Outlook

As Context Therapeutics progresses into 2025, the company remains focused on delivering innovative therapies that address critical unmet medical needs in oncology. “Our focus remains on delivering innovative therapies that address critical unmet medical needs in oncology,” concluded CEO Martin Lehr.