CytomX Therapeutics assumed with an Overweight at Piper Sandler

Piper Sandler analyst Edward A. Tenthoff assumed coverage of CytomX Therapeutics (CTMX) with an Overweight rating with a price target of $2.50, down from $3.25. The firm notes CytomX is enrolling the 7th cohort in the Phase I dose-escalation study of CX-2051 in metastatic colorectal cancer with initial data in Q2 2025. Clean safety data will validate this masked EpCAM ADC with any efficacy signal including stable disease a positive in lateline CRC patients, adds Piper. CytomX is also conducting Phase I dose-escalation of Probody masked interferon-alpha2b CX-801 i metastatic melanoma with initial PD data in the second half of 2025 and efficacy data in 2026.