CytomX completed a $250 million follow‑on offering after releasing Phase I data for its EpCAM‑targeting ADC, varsetatug masetecan (Varseta‑M), which showed a 32% objective response rate in colorectal cancer. The company said the proceeds will support additional trials, including a planned Phase Ib/II combination study with chemotherapy. Underwriters included Jefferies, Piper Sandler and Barclays. CytomX’s financing reflects investor appetite for ADCs with differentiated payloads and targeted delivery mechanisms, and it funds rapid advancement of Varseta‑M into later‑phase testing.