Pfizer Inc. (PFE): Sig Vedotin 2L Trial Falls Short; Focus Shifts to 2Q26 Earnings Call

Research evidence excerpt

Pfizer Inc. (PFE): Sig Vedotin 2L Trial Falls Short; Focus Shifts to 2Q26 Earnings Call

Equity Research

23 June 2026 | 6:00AM EDT

Pfizer Inc. (PFE): Sig Vedotin 2L Trial Falls Short; Focus Shifts to 2Q26

Earnings Call

After the close yesterday (June 22), PFE announced that the Ph3 trial of Sig Vedotin Asad Haider, CFA

+1(212)902-0691 | asad.haider@gs.com

in 2L+ NSCLC (SigVie-002, a potential first-in-class ADC targeting integrin-beta 6 Goldman Sachs & Co. LLC

(IB6), expressed in over 90% of NSCLC tumors, where the company had recently Nick Jennings

amended the protocol for the trial for statistical reasons to preserve alpha) fell short +1(415)249-7412nick.jennings@gs.com|

of showing a statistically significant improvement in Overall Survival (the primary Goldman Sachs & Co. LLC

Jeff Suendpoint) vs docetaxel chemotherapy (the established standard of care in this +1(212)357-9930 | jeff.su@gs.com

setting). Despite relatively low expectations — given the company’s recent framing Goldman Sachs & Co. LLC

of the 2L SV mono trial as a higher bar/lower POS vs. the SV combination with MRK’s

Keytruda in the larger 1L setting as more derisked — we see this as a notable

pipeline setback given this was one of PFE’s most important Ph3 programs from its

$43bn Seagen acquisition in 2023.

Overall, PFE is framing the topline readout constructively with regard to the outlook

for the ongoing Ph3 trial evaluating SV in combination with MRK’s Keytruda in 1L

NSCLC with PD-L1 TPS ≥50%. As somewhat of a silver lining, PFE highlighted that in

patients who received only 1 prior line of systemic therapy, which represents

two-thirds of the study population, a stronger trend was observed for OS and PFS for

SV over docetaxel, and the safety profile of SV was reported as manageable and