In a report released today, Andres Y. Maldonado from H.C. Wainwright maintained a Buy rating on I-MAB (IMAB – Research Report), with a price target of $7.00.
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Andres Y. Maldonado has given his Buy rating due to a combination of factors related to I-MAB’s promising developments in gastric cancer treatment. The company’s Phase 1b data for givastomig, a Claudin 18.2 x 4-1BB bispecific antibody, demonstrated impressive overall response rates (ORR) and durable responses across various biomarker subgroups. The treatment showed a 71% ORR across all dose levels and an 83% ORR at expansion doses, with particularly strong results in patients with lower CLDN18.2 expression and PD-L1 low tumors, where other treatments typically underperform.
Furthermore, givastomig’s safety profile is notably favorable, with no dose-limiting toxicities or severe treatment-related adverse events, contrasting with the high-grade side effects of competing treatments like zolbetuximab. The drug’s ability to activate immune responses selectively within tumors without causing systemic issues is seen as a significant advancement. Additionally, expert opinions highlight givastomig’s potential to expand the treatable patient population significantly, thanks to its efficacy across a broader range of CLDN18.2 expression levels. These factors collectively support the view that givastomig could become a leading therapy in its class, justifying the Buy rating.