BMO Capital reiterates an Outperform rating on C4 Therapeutics with a $16 price target saying the company announced positive Phase 1 dose escalation for CFT7455 as a monotherapy and in combination with dexamethasone in heavily pretreated multiple myeloma patients. While the dataset is still early, BMO is “very encouraged” by the clinical activity of the monotherapy and combination with dexamethasone in a highly refractory population, the analyst tells investors in a research note. The firm says the update sets up C4 well for share appreciation on further updates in 2024 given current valuation and the size of the multiple myeloma market for a “differentiated” IKZF1/3 degrader.
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- C4 Therapeutics Announces Positive Data from CFT7455 Phase 1 Trial in Relapsed/Refractory Multiple Myeloma
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