BioNTech & BMS Pumitamig Shows Encouraging Phase 2 Efficacy in NSCLC, High Response Rates Across PD-L1 Levels
BNTX sits 22% above its 52-week low of $79.52.
Summary
BioNTech and Bristol Myers Squibb announced encouraging interim Phase 2 data for their bispecific drug pumitamig in non-small cell lung cancer (NSCLC). The ROSETTA Lung-02 trial showed high objective response rates (57.1% in non-squamous, 68.4% in squamous NSCLC) and a 100% disease control rate, with efficacy observed across all PD-L1 expression levels and a manageable safety profile. This positive pipeline news, presented at ASCO, follows BioNTech's pre-announcement on May 22nd and provides a much-needed positive development amidst recent negative news for the company. The drug is now advancing into multiple Phase 3 trials, which will be critical to watch for further validation.
At the time of this announcement, BNTX was trading at $97.04 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $24.3B. The 52-week trading range was $79.52 to $124.00. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.