Biotech - HNSCC KOL Sees GMAB’s Peto Well-Positioned; Competition Elevates Need for Differentiated Data & Execution

研报英文原文证据摘录

Biotech - HNSCC KOL Sees GMAB’s Peto Well-Positioned; Competition Elevates Need for Differentiated Data & Execution

Truist Securities

Equity Research Report June 22, 2026

HEALTHCARE: Biotechnology

Biotech - HNSCC KOL Sees GMAB’s Peto

Well-Positioned; Competition Elevates Gregory Renza, M.D.

212-419-4617 Need for Differentiated Data & Execution Gregory.Renza@truist.com

We hosted a HNSCC KOL call last week focused on GMAB’s petosemtamab ("peto")

and the EGFR landscape. Key takeaways: (1) KOL views EGFR bispecifics as more

Supawat Thongthip, Ph.D. similar than different at this stage; (2) In 2L+, peto appears applicable across HPV+ and

212-401-4429 HPV- though amivantamab is competitive given the subQ & faster timeline; (3) Peto is Supawat.Thongthip@truist.com

well positioned with LiGeR-HN1 upsizing viewed as a sensible de-risking step in 1L; (4)

Ficerafusp alfa’s deep CR is intriguing though PFS/OS durability remain key questions;

Anish Nikhanj, Ph.D. and (5) ADC and PD-(L)1 x VEGF are relatively unvalidated in HNSCC. Overall, we

212-326-3106 remain constructive on peto, though see differentiation and execution as increasingly Anish.Nikhanj@truist.com

important.

5 Page Document

Please contact us or your Truist Securities sales representative for a replay of

our head & neck cancer (HNSCC) KOL call.

Reasons for this report EGFR bispecific landscape - KOL views the class as broadly in-line on the early

✓ Truist Securities Hosted Event Takeaways efficacy profile which may place greater emphasis on execution. At a high level, our

KOL views the emerging EGFR bispecific class across petosemtamab, amivantamab, ✓ KOL Feedback Included

and ficerafusp alfa as more similar than different though clearly better than historical

cetuximab-based regimens.