Guggenheim initiates coverage on Crescent Biopharma with 'buy'
Guggenheim starts coverage on drugmaker Crescent Biopharma CBIO.O with "buy"; sets PT at $35
Says CBIO has a compelling investment thesis as it awaits long-term data for its experimental lung cancer treatment, CR-001, in Q1 2027
Says this will provide a clear comparable to Summit's SMMT.O ivonescimab, which belongs to a similar class of drugs
CBIO's proprietary antibody-drug conjugate (ADC) pipeline, known as "guided-missile" cancer drugs, could generate independent value as monotherapy and be synergistic with CR-001 in earlier solid tumor treatment settings - Brokerage
"We see CBIO as set up to be awarded significant value both from what the company is replicating and what the company is pioneering" - Brokerage
As of last close, CBIO stock down 52.37% in the past 12 months
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