Gil Blum, an analyst from Needham, maintained the Buy rating on I-MAB (IMAB – Research Report). The associated price target was raised to $5.00.
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Gil Blum has given his Buy rating due to a combination of factors related to the promising clinical data of I-MAB’s treatment, givastomig. The initial results from the ESMO GI abstract reveal that givastomig, when combined with nivo and chemotherapy, achieved an objective response rate (ORR) of 83% in frontline GEC patients, which is significantly higher than the approximately 40% ORR observed with zolbetuximab and chemotherapy in the SPOTLIGHT study. This suggests that givastomig clears the initial efficacy benchmarks, despite the small sample size and limited follow-up period.
Furthermore, the ongoing clinical trial shows encouraging progress with eight out of seventeen patients continuing therapy after a median follow-up of nine months, and the median progression-free survival (mPFS) has not yet been reached. The enrollment for the dose expansion cohorts is progressing faster than anticipated, with results expected in the first half of 2026. These factors collectively contribute to the positive outlook and justify the Buy rating for I-MAB’s stock.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $7.00 price target.