Piper Sandler analyst Edward A. Tenthoff raised the firm’s price target on CytomX Therapeutics (CTMX) to $5 from $2.50 and keeps an Overweight rating on the shares after the company reported positive initial Phase I CX-2051 data in 3rd-line+ metastatic colorectal cancer. The results compare favorably to currently approved agents. Importantly, CytomX’s masking technology allowed for a clean safety profile with no Grade 4+ TRAEs. If the early efficacy signal holds, Piper expects CytomX will meet with FDA and initiate a potentially registrational Phase II study in the first half of 2026.
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