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Investing.com -- JPMorgan said Zymeworks Inc could see upside following the release of early Phase 1 data for its folate receptor α-targeting ADC, ZW191, next week. The brokerage placed the stock on a positive catalyst watch ahead of presentations at the AACR-NCI-EORTC International Conference.
ZW191 is being tested in ovarian, endometrial and non-squamous non-small cell lung cancers in a dose-escalation study of roughly 145 patients.
JPMorgan said the first data cut could provide insights into early efficacy, safety and the therapeutic window, though duration of response may be too early to assess.
The abstract will be released Wednesday at 1 p.m. ET, with a poster presentation on Thursday at 12:30 p.m. ET and a company-hosted webcast at 3:30 p.m. ET.
JPMorgan noted that much of Zymeworks’ pipeline upside is not yet reflected in the stock.
Reflecting the anticipated catalyst and updated assumptions on ZW191’s probability of success, JPMorgan raised its December 2026 price target to $23 from $20.