Oppenheimer says shares of CytomX Therapeutics (CTMX) fell 20% yesterday after a post on a patient forum that proclaimed CX-2051’s Phase 1 trial had been halted due to gastrointestinal toxicities. However, the company announced this morning CytomX that the trial remains ongoing and continues to recruit following a meeting with the Data and Safety Monitoring Board after a single grade five event of kidney failure, the analyst tells investors in a research note. Oppenheimer is not concerned by the event in isolation. It believes believe CX-2051’s side effects are similar to irinotecan and reiterates an Outperform rating on CytomX shares. The stock in morning trading is up 3c to $1.89.
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