CytomX Therapeutics price target raised to $6.50 from $5 at Piper Sandler

Piper Sandler raised the firm’s price target on CytomX Therapeutics (CTMX) to $6.50 from $5 and keeps an Overweight rating on the shares. At SITC, CytomX presented Phase I data on Probody masked IFNalpha2b CX-801 in melanoma and preclinical data on Probody CDH3 T-cell engager CX-908. CytomX will present Phase I CX-801 data in combination with KEYTRUDA in advanced melanoma patients next year. Initial Phase I data on Probody masked EpCAM ADC CX-2051 showed doses of 7.2-10mg/kg achieved an impressive 28% ORR, 94% DCR and preliminary mPFS of 5.8 months in 3rd-line+ metastatic colorectal cancer.