H.C. Wainwright has returned to coverage of NovaBridge Biosciences (NASDAQ: NBP) and assigned a Buy rating, increasing its price target to $9.00 from $7.00, the firm said in a research note released on Friday. The upgrade follows the company’s release of topline Phase 1b data for its lead asset, givastomig.
Givastomig is a bispecific antibody that targets CLDN18.2 and 4-1BB. In the Phase 1b combination study, givastomig was administered alongside nivolumab (Opdivo) and chemotherapy in patients with first-line HER2-negative metastatic gastric cancer. The analysis reported outcomes from a 54-patient cohort across two dosage levels.
At the 8 mg/kg dose, the objective response rate was 77%. At 12 mg/kg, the objective response rate was 73%. These response rates were observed across a range of PD-L1 and CLDN18.2 expression levels, according to the topline results. Median progression-free survival for the 8 mg/kg cohort was reported at 16.9 months. Six-month progression-free survival rates were 73% for patients receiving 8 mg/kg and 91% for those receiving 12 mg/kg.
Safety data from the Phase 1b combination regimen indicated no Grade 5 treatment-related adverse events. The most frequently reported lower-grade adverse events were nausea, vomiting, and fatigue. Immune-related gastritis was observed in 33% of patients overall, with Grade 3 gastritis occurring in 4% of patients at the 8 mg/kg dose and 15% of patients at the 12 mg/kg dose.
NovaBridge, previously known as I-Mab, said it plans to begin enrollment in a global, randomized Phase 2 trial that will evaluate both dosing levels versus the current standard of care in the first quarter of 2026. The Phase 2 will compare the two tested doses of givastomig as part of combination therapy to determine comparative efficacy and safety versus established treatment.
In related developments, Brookline Capital Markets has reiterated a Buy rating on NovaBridge stock and maintained an $8.00 price target following the company’s Phase 1b update. Separately, Executive Chairman Fu Wei disclosed plans to acquire up to $5 million of NovaBridge shares through open market purchases. Those purchases began on January 15 and remain ongoing; the final number of shares to be acquired was not guaranteed in the disclosure.
NovaBridge also plans to present new data for ragistomig at the European Society for Medical Oncology Immuno-Oncology Congress. That study reportedly established a revised dosing schedule that demonstrated anti-tumor activity and an improved safety profile in patients who had not responded to PD-L1 therapy.
These announcements - the analyst coverage reinstatement and target increase, the Phase 1b topline metrics, the planned Phase 2, the insider purchase plan, and the pending ragistomig data presentation - together form the basis for the recent market attention on NovaBridge and its investigational oncology portfolio.