The announcement of the initial Phase 1a clinical data update for CX-904 is directly related to CytomX Therapeutics and is a significant event that could influence investor sentiment and the company's stock price. Positive data could lead to increased investor confidence and a potential rise in stock price, while negative or inconclusive data could have the opposite effect. Given the direct involvement of CTMX in this development, the relevance and importance of this news are high.