Barclays increased its price target on CytomX Therapeutics from $8 to $10 and upheld an Overweight rating. Piper Sandler previously lifted its target to $10 from $6.50, and Guggenheim initiated coverage with a Buy rating and a $10 target based on a 30% estimated success probability in third-line colorectal cancer.

Phase I data for varsetatug maseatecan demonstrated a 28% overall response rate and a 94% disease control rate at doses of 7.2–10 mg/kg, with a preliminary median progression-free survival of 5.8 months in third-line and later metastatic colorectal cancer patients.

CytomX plans to report updated results this quarter on approximately 100 metastatic colorectal cancer patients across 7.2 mg/kg, 8.6 mg/kg, and 10 mg/kg every-three-week expansion cohorts, with analysts expecting dose-dependent improvements in response rate and progression-free survival.