Not long ago, GameStop (NYSE:GME) stock soared and then tanked on the meme-stock waves. A company that went along for the ride was CytomX Therapeutics (NASDAQ:CTMX), as CytomX Therapeutics stock took a round trip from $1.80 to $5.80 and back. Serious investors should consider buying shares of CytomX Therapeutics.

CytomX Therapeutics develops cancer-treatment candidates through the company’s PROBODY therapeutic platform. This company is trying to save lives and is not a meme or a joke. In fact, CytomX Therapeutics is working diligently with a famous Big Pharma company on a crucial collaboration, so let’s delve into the details right now.

CytomX Therapeutics Partners With a Pharma Giant

Here’s what you need to know. CytomX Therapeutics is teaming up with Merck (NYSE:MRK) on a clinical trial. Together, they’ll assess CytomX Therapeutics’ cytokine, CX-801, in a combination therapy with Merck’s anti-PD-1 therapy, Keytruda (pembrolizumab), to treat tumors.

This is certainly exciting from a medical standpoint. Wayne Chu, chief medical officer of CytomX Therapeutics, emphasized that this proposed combination therapy is intended to treat “a broad range of tumor types.”

Furthermore, CytomX Therapeutics CEO Sean McCarthy proposed that the combination therapy could be a “highly effective regimen to significantly improve the outcomes of patients with cancer.”

This could be a game changer and a life changer, since CytomX Therapeutics will have access to Merck’s vast capital and human resources in this collaboration.

CytomX Therapeutics Pivots to Profitability

Merck wouldn’t team up with a company that’s falling apart at the seams. Granted, biotech businesses can be risky ventures. However, there’s evidence that CytomX Therapeutics is in excellent fiscal condition.

For one thing, CytomX Therapeutics recorded revenue of $41.463 million in 2024’s first quarter. That’s up 76.4% year over year compared to the $23.499 million that CytomX Therapeutics generated in the year-earlier quarter.

Moreover, CytomX Therapeutics reported Q1-2024 total comprehensive income of $13.686 million. This shows vast improvement over the company’s total comprehensive loss of $3.295 million in 2023’s first quarter.

CytomX Therapeutics grew its revenue substantially and pivoted to profitability. Thus, CytomX Therapeutics is capable of firming up its financials even while tirelessly advancing potentially lifesaving treatments.

CytomX Therapeutics Stock: No Need to Obsess Over Memes Now

There’s no need to think about meme stocks when you’re learning about CytomX Therapeutics. This company is serious and is doing important work with Merck now. Plus, CytomX Therapeutics is on solid ground from a financial standpoint.

So, please don’t put CytomX Therapeutics in the same category as GameStop. Instead, consider the medical progress that CytomX Therapeutics and Merck could make in 2024 and afterwards. With that in mind, serious investors should think about buying CytomX Therapeutics stock while it’s below $2.50.

On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.