Pfizer Inc. *Slides* Key Phase III EZH2 Prostate Cancer Data Coming Soon... We See 50-65% POS

研报英文原文证据摘录

Pfizer Inc. *Slides* Key Phase III EZH2 Prostate Cancer Data Coming Soon... We See 50-65% POS

Global Research

19 July 2026ab

Pfizer Inc. Equities

United States*Slides* Key Phase III EZH2 Prostate Cancer Data

Coming Soon… We See 50-65% POS Pharmaceuticals

12-month rating Neutral

12m price target US$27.00PFE is expected to report Phase III data for the EZH2 program mevrometostat in

second-line metastatic castrate resistant prostate cancer (mCRPC) in H2/26. This

is the first of three Phase III studies for this program (MEVPRO-1) that PFE started based Price (17 Jul 2026) US$25.05

on very promising Phase I randomized controlled data showing 14 months mPFS with RIC: PFE.N BBG: PFE US

EZH2 + Xtandi vs. 6 months with Xtandi alone. We see a POS of ~50-65% or higher in

the 2L setting based on promising Phase I data though we note there are a few Trading data and key metrics

differences to flag going from Phase I to Phase III including a different dosing regimen 52-wk range US$28.55-23.29

and control arm. Overall -- PFE stock has pulled back on the year and there are currently Market cap. US$143b

low expectations for the pipeline so we think there could be meaningful upside of ~5% Shares o/s 5,699m (COM)

or more on a positive study -- and could give more conviction in the other two Phase IIIs Free float 100%

which are being run in frontline mCRPC and in metastatic castrate-sensitive prostate Avg. daily volume ('000) 10,147

cancer. Avg. daily value (m) US$257.9

Common s/h equity (12/26E) US$88.9b

**Please see inside for our deep dive SLIDES & Preview** P/BV (12/26E) 1.6x

Net debt to EBITDA (12/26E) 2.2x

We believe the stock could move by ~5-10% on the study vs. more limited

EPS (UBS, diluted) (USD)

downside of 2-3%. We currently model ~$1.8B in peak sales vs. consensus $1.4B on a