Barclays sees ‘significant potential’ in CytomX’s CX-2051 despite safety event

After CytomX disclosed an update on its lead pipeline program, CX-2051, and shared information on patient enrollment and a Grade 5 acute kidney injury in the Phase 1 trial, Barclays analyst Peter Lawson spoke to management, who noted that the adverse event occurred in a patient with a complex medical history. The firm sees the safety event as “unfortunate,” but continues to see “significant potential” in CX-2051 and is encouraged by enrollment trends and interest in the trial, the analyst tells investors. Barclays maintains an Overweight rating and $3.50 price target on CytomX shares.