US Biopharmaceuticals: ASCO abstracts highlighted by MRK’s SAC-TMT & JNJ Tec updates

研报英文原文证据摘录

US Biopharmaceuticals: ASCO abstracts highlighted by MRK’s SAC-TMT & JNJ Tec updates

MM: Tecvayli

CD38-refractory RRMM is growing market segment as Darzalex (CD38) is increasingly

used as 1L induction and maintenance. In MajesTEC-9 (85% CD38 refractory), Tecvayli

increased PFS (HR 0.29; 18m PFS 70%) and OS (HR 0.60) and dramatically increased

>CR (66% vs. 17%) compared to IMiD-based regimens. The study results also saw

toxicities exhibited in past Tec trials, notably: CRS (any/Gr3+ 66%/17%) and ICANS

(4%/1%) and severe infections (42% vs 29%) were increased. MajesTEC-9 complements

earlier MajesTEC-3 (lenalidomide-refractory) and positions Tec for 2L+ use whatever 1L

regimen. However impressive, we note JNJ’s BCMA CAR-T Carvykti is similarly

efficacious, potentially more durable, with lower treatment burden, thus we believe

patient/oncologist preference could drive divergent practice in 2L+ sequencing of these

therapies.

SCCHN: Rybrevant checks box, but space is competitive

JNJ’s Rybrevant (amivantamab) reported updated OrigAMI-4 cohort 1 data in 2L+ R/M

SCCHN at ASCO, now in a fully enrolled dataset (n=102) with 9.0 months median follow-

up (cutoff Jan 6, 2026). Efficacy remains consistent with prior disclosures, with

confirmed ORR of 47% (including 4 CRs), median DoR of 7.2 months, and median PFS of

6.8 months, alongside rapid onset (median time to response ~6.6 weeks). The durability

profile appears broadly unchanged with additional follow-up, reinforcing prior

positioning of the dataset as potentially supportive of an accelerated approval strategy

based on response rate and DoR. Relative to competitors, outcomes remain numerically

favorable versus petosemtamab, though Rybrevant’s dual EGFR/MET targeting continues