H.C. Wainwright Reiterates Neutral Rating on Crescent Biopharma Inc (CBIO)

H.C. Wainwright analyst Mitchell S. Kapoor reiterated a Neutral rating and {REMOVEPT} price target on Crescent Biopharma Inc (NASDAQ: CBIO).

The analyst commented: 'Our earlier CR-001 thesis depended on Summit's (SMMT; Buy) ivonescimab opening new 1L NSCLC markets and displacing Merck's (MRK; not rated) Keytruda (pembrolizumab), giving an ivo-like fast follower a clear regulatory and commercial path. That path continues to narrow. At ASCO, OptiTROP-Lung05 showed sac-TMT + pembro producing a PFS HR of 0.35 overall, 0.28 in both non-squamous and TPS 1-49% disease, an ORR of 70.2% vs. 42.0%, and an immature OS HR of 0.55. Lung06 now adds a positive Phase 3 PFS result against pembro + pemetrexed/platinum in PD-L1-negative non-squamous disease. HARMONi-6’s OS HR of 0.66 in China squamous disease does not provide definitive confidence; HARMONi-3 still must show that ivo can reproduce globally against Keytruda-based controls Merck is beating with sac-TMT. HARMONi-3 squamous final PFS and interim OS in 2H26 remain the next external readthrough, followed by ASCEND POC data in 1Q27. We reiterate our Neutral rating without a price target."

For an analyst ratings summary and ratings history on Crescent Biopharma Inc click here. For more ratings news on Crescent Biopharma Inc click here.

Shares of Crescent Biopharma Inc closed at $15.67 yesterday.

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