Agilent Gains FDA Approval for SK006 Diagnostic with Seven Indications, HSBC Targets $180
On February 12, Agilent received FDA clearance for PD-L1 IHC 22C3 pharmDx (Code SK006) as sole companion diagnostic identifying epithelial ovarian, fallopian tube or primary peritoneal carcinoma patients eligible for KEYTRUDA and represents seventh FDA-approved indication. HSBC initiated coverage with a Buy rating and $180 target implying ~47% upside.
1. FDA Approval for PD-L1 IHC 22C3 pharmDx
On February 12, the FDA cleared Agilent’s PD-L1 IHC 22C3 pharmDx, Code SK006, for use as a companion diagnostic in epithelial ovarian, fallopian tube and primary peritoneal carcinoma. This authorization enables pathologists to assess PD-L1 expression at diagnosis and supports patient selection for KEYTRUDA therapy in these indications.
2. Expansion of KEYTRUDA Companion Diagnostics
This clearance marks the seventh FDA-approved indication for Agilent’s diagnostic in connection with KEYTRUDA, reinforcing the company’s leadership in immune-oncology testing. As the only authorized companion diagnostic for these cancer types, SK006 is positioned to capture a growing segment of the oncology diagnostics market.
3. Analyst Coverage with Buy Rating
HSBC initiated coverage with a Buy rating and set a $180 price target, reflecting an anticipated 47% upside. The analyst cited Agilent’s global leadership in life sciences and diagnostics, forecasting sustained bottom-line growth driven by expanding FDA approvals and application-focused solutions.