Xencor's (XNCR) upcoming dose-expansion data readout for XmAb819 to treat clear cell renal cell carcinoma has potential for improved response rates and more mature durability results, Wedbush Securities said in a Friday research report.

XmAb819 has been evaluated in a more pretreated population, and meaningful activity in this setting could establish differentiation in efficacy and drive upside, according to the note.

If the expansion cohort maintains the 25% overall response rate and 70% disease control rate already observed in dose-escalation, while dose-escalation cohorts show progression-free survival in line with or modestly above the established 6- to 7-month range, the drug remains on track for its registrational path, supporting continued appreciation of the stock, analysts wrote.

Wedbush reiterated its outperform rating and a $30 price target on the stock.

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