PHILADELPHIA, PA — Context Therapeutics Inc. (Nasdaq: CNTX) is discontinuing development of one cancer drug candidate and concentrating capital on two clinical programs as its second-quarter net loss widened to $14.6 million and cash declined to $43 million.
The clinical-stage biotechnology company will end development of CT-95, an MSLN x CD3 T-cell engaging bispecific antibody, and focus its resources on CTIM-76 and CT-202. Initial clinical readouts from the prioritized programs are expected beginning in the second quarter of 2027.
Context reported $43 million in cash and cash equivalents as of June 30, down from $66 million at the end of 2025. The company expects its existing cash to fund operations into the fourth quarter of 2027.
The quarterly net loss increased from $8.8 million a year earlier as research and development spending rose to $12.5 million from $7.8 million.
The higher R&D expense included a $6.5 million in-process research and development charge tied to consideration paid to amend Context’s licensing agreement with BioAtla Inc. for CT-202. The May amendment eliminated future milestone and royalty obligations owed under the agreement.
General and administrative expenses increased to $2.4 million from $1.9 million, reflecting higher professional fees and personnel-related costs. Other income declined to $400,000 from $900,000, primarily because of lower interest income on cash balances.
CTIM-76, which targets CLDN6 and CD3, is being evaluated as a monotherapy in a Phase 1 trial involving patients with platinum-resistant ovarian cancer.
The Food and Drug Administration granted CTIM-76 Fast Track designation in April for patients with platinum-resistant ovarian cancer who have received all standard-of-care therapies. Context presented interim Phase 1a safety, tolerability and efficacy data from weekly dosing in June.
The company plans to evaluate every-three-week dosing in less heavily pretreated patients during the second half of 2026, followed by initiation of a Phase 1b dose-expansion trial in the first quarter of 2027. Initial Phase 1a safety, tolerability and efficacy data from the new dosing schedule are expected in the second quarter of 2027.
Chief Executive Officer Martin Lehr stated that the change is intended to generate “a larger and more commercially relevant dataset” for CTIM-76.
Context is also preparing to begin clinical testing of CT-202, a Nectin-4 x CD3 T-cell engager targeting Nectin-4-positive urothelial, colorectal and triple-negative breast cancers.
Australian regulators cleared the company in April to initiate a first-in-human Phase 1 trial. Context expects to dose the first patient during the third quarter, with initial Phase 1a topline safety, tolerability and early efficacy results expected in the second half of 2027.
“We also expect to dose the first patient in our Phase 1 clinical trial evaluating CT-202 in patients with Nectin-4-positive urothelial, colorectal, and triple-negative breast cancers in the third quarter of 2026,” Lehr stated.
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