Crescent's Tumor Treatment Validated by Akeso Trial Results, Wedbush Says
Crescent Biopharma's (CBIO) potential treatment for advanced solid tumors CR-001 has been validated by the results of Akeso's phase 3 trial for ivonescimab, Wedbush said in a Monday note.Interim analysis showed that ivonescimab reduced the risk of death by 27% in PD-L1-positive locally advanced or metastatic non-small cell lung cancer, compared with pembrolizumab, with an improvement in median overall survival of 8.2 months, the note said."We view the HARMONi-2 OS confirmation as continued, and increasingly definitive, class validation for CBIO's CR-001," the report said.CR-001 is currently being evaluated in a phase 1/2 trialacross multiple solid tumor types, including 1L/2L NSCLC, gastric, and gynecological cancer patients, the note said, adding that initial CR-001 data are expected in Q1 of 2027.Wedbush kept its outperform rating and a price target of $27.Price: $20.16, Change: $+0.75, Percent Change: +3.86%
