CytomX Therapeutics Inc. (NASDAQ:CTMX) shares are up during Monday’s premarket session as the company announced positive Phase 1 expansion data for its EpCAM PROBODY ADC, varsetatug masetecan (Varseta-M).

Positive Data For Colorectal Cancer Patients

The latest data revealed on Monday confirmed response rates in expansion cohorts of 32% at a 10 mg/kg Q3W dose and 20% at an 8.6 mg/kg Q3W dose, with an estimated progression-free survival of 7.1 months at the higher dose.

The disease control rate was 88% (49/56) across the expansion doses of 7.2 – 10 mg/kg in late-line metastatic colorectal cancer patients.

The safety profile of Varseta-M appears manageable, with a Grade 3 diarrhea rate of 10% reported in ongoing dose optimization cohorts.

CytomX Therapeutics Development Strategy

The company has prioritized 8.6 mg/kg and 10 mg/kg doses for further evaluation for a registrational study.

Dose optimization at 8.6 mg/kg and 10 mg/kg utilizing AIBW dosing and updated prophylaxis for adverse event management is ongoing.

At the doses of 11 mg/kg Q3W and 12 mg/kg Q3W, which were not expanded for further evaluation, the overall response rate was 30% (3/10).

The company is planning FDA interactions to discuss the registrational trial design. It has initiated a Phase 1 study evaluating a combination with Avastin (bevacizumab).

The company expects to initiate a Phase 1b/2 study of Varseta-M in combination with bevacizumab and chemotherapy by the end of 2026.

CytomX Therapeutics Stock Performance And Technical Signals

CytomX Therapeutics has shown impressive performance over the past 12 months, with shares increasing by 639.45%.

Currently, the stock is trading 39% above its 20-day simple moving average (SMA) and 59.1% above its 100-day SMA, indicating strong momentum and a bullish trend.

The RSI is at 40.59, which is considered neutral territory, suggesting that the stock is neither overbought nor oversold.

Meanwhile, the MACD shows a value of -0.1367, below its signal line of -0.0651, indicating bearish pressure on the stock.

The combination of neutral RSI and bearish MACD suggests mixed momentum, indicating that while the stock has shown strength, caution may be warranted in the short term.

  • Key Resistance: $6.50
  • Key Support: $5.00

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $7.25. Recent analyst moves include:

  • Guggenheim: Buy (Maintains Target to $10.00) (Mar. 9)
  • Cantor Fitzgerald: Overweight (Raises Target to $10.00) (Feb. 4)
  • Barclays: Overweight (Raises Target to $10.00) (Feb. 4)

CTMX Price Action: CytomX Therapeutics shares were up 66.45% at $7.78 at the time of publication on Monday. The stock is trading at a new 52-week high, according to Benzinga Pro data.

Image via Shutterstock