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Investing.com - H.C. Wainwright has reiterated its Buy rating and $7.00 price target on I-Mab (NASDAQ:IMAB), following positive Phase 1b trial results for the company’s cancer treatment. The price target represents a 55% upside from the current trading price of $4.52, with the stock already showing remarkable momentum with a 431% year-to-date return according to InvestingPro data.
The clinical-stage biopharmaceutical company reported an 83 percent objective response rate for givastomig when combined with nivolumab and mFOLFOX6 in first-line metastatic gastric cancers at the 8 and 12 mg/kg doses. Patient responses deepened over time, with a six-month progression-free survival rate of 82 percent.
The treatment demonstrated a manageable safety profile, with adverse events primarily attributed to the chemotherapy backbone and limited immune-related toxicity. These doses are now advancing into the expansion phase of testing.
I-Mab completed a financing round in August 2025 that extends its cash runway into the fourth quarter of 2028, providing sufficient funding to carry givastomig through a randomized Phase 2 trial.
The company also strengthened its intellectual property position through the acquisition of Bridge Health, eliminating royalty obligations and future milestone liabilities on the CLDN18.2 parental antibody used in the treatment.
In other recent news, I-Mab has made significant strides in its cancer treatment developments. The company completed enrollment ahead of schedule for its Phase 1b trial of givastomig, a bispecific antibody, in combination with nivolumab and mFOLFOX6 for Claudin 18.2-positive gastric cancers. This trial enrolled 40 patients across two dosage levels, with results expected in the first quarter of 2026. Additionally, I-Mab announced the acquisition of Bridge Health Biotech Co., Ltd., securing upstream rights to the CLDN18.2 parental antibody, which will eliminate future royalty obligations and reduce milestone payments.
The company reported an impressive 83% response rate for givastomig in its gastric cancer study, as presented at the European Society for Medical (TASE:BLWV) Oncology Gastrointestinal Cancers Congress in Barcelona. Furthermore, data from a first-in-human study published in Clinical Cancer Research showed an 18% objective response rate for givastomig in heavily pretreated patients. H.C. Wainwright reiterated its buy rating for I-Mab, citing strong Phase 1b data that demonstrated a 71% overall response rate for givastomig across all dose levels. These developments highlight I-Mab’s continued progress in its cancer therapy research.
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