SCHEDULE: Venrock Group Discloses 9.4% Stake in CytomX Therapeutics

A group of Venrock entities and individuals reported a 9.4% beneficial ownership stake in CytomX Therapeutics, Inc. as of September 30, 2025.

Summary

• Reporting Persons, including Venrock Healthcare Capital Partners III, L.P., VHCP Co-Investment Holdings III, LLC, Venrock Healthcare Capital Partners EG, L.P., VHCP Management III, LLC, VHCP Management EG, LLC, Nimish Shah, and Bong Koh, collectively beneficially own 15,561,500 shares of CytomX Therapeutics, Inc. common stock.
• This represents 9.4% of the total outstanding common stock of CytomX Therapeutics, Inc.
• The percentage is based on 165,069,647 shares outstanding as of September 30, 2025, as reported in CytomX Therapeutics, Inc.'s Quarterly Report on Form 10-Q filed on November 6, 2025.
• The Reporting Persons share both voting and dispositive power over all 15,561,500 shares.
• This is an Amendment No. 1 to a Schedule 13G.

Sentiment

Score: 5

Explanation: Neutral. This is a factual disclosure of beneficial ownership, not a performance report or strategic announcement from the issuer. The continued significant stake by a healthcare capital firm could be seen as a minor positive signal of confidence, but the filing itself is purely informational.

Positives

• An institutional investor group, Venrock Healthcare Capital Partners, maintains a significant 9.4% beneficial ownership stake in CytomX Therapeutics, Inc., which can be interpreted as a signal of continued confidence in the company.

Negatives

• No explicit negative information regarding the issuer's performance or outlook is contained within this beneficial ownership report.

Future Outlook

Not applicable. This filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance from the issuer.

Management Comments

• The Reporting Persons certify that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, nor in connection with any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.

Industry Context

This filing indicates continued significant institutional investment in CytomX Therapeutics by a specialized healthcare capital firm, which is common in the biotechnology sector where long-term capital is often required for drug development and commercialization.

Comparison to Industry Standards

• This is a standard disclosure of a significant ownership stake by an institutional investor group, consistent with regulatory requirements for reporting beneficial ownership exceeding 5%.

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake provides transparency regarding major investors and their collective holdings in the company.

Key Dates

Recommendation

This Schedule 13G filing primarily serves as a disclosure of beneficial ownership by a group of Venrock entities and individuals, indicating a significant, but not new, institutional stake in CytomX Therapeutics. It does not contain operational or financial performance data, nor does it signal any intent to influence control. Therefore, based solely on this filing, a 'hold' recommendation is appropriate, suggesting investors maintain their current position while awaiting more comprehensive financial or strategic updates from the company itself. The continued presence of a specialized healthcare capital firm as a major shareholder might be viewed as a stable factor, but it doesn't warrant a change in investment posture without further information.

Keywords

CytomX Therapeutics, CMTX, Venrock Healthcare Capital Partners, Schedule 13G, Beneficial Ownership, Institutional Investor, Biotechnology, Healthcare Investment