Oppenheimer raised the firm’s price target on ArriVent Biopharma (AVBP) to $44 from $39 and keeps an Outperform rating on the shares. ArriVent announced a positive update from firmonertinib’s Phase 1b PACC study with 10M longer follow-up, with results meeting the firm’s prior best-case scenario, with the 240mg Firmo dose improving confirmed overall response rate to 68.2%, and showing a mean progression free survival of 16M and median duration of response of 14.6M, with a manageable safety profile, the analyst tells investors in a research note.
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