Merck's post-Keytruda NSCLC play advances as rivals close in at ASCO

Thursday's release of American Society of Clinical Oncology meeting abstracts moved few stocks meaningfully, but two non-small cell lung cancer readouts stood out — a 6% Friday gain for Merck on its TROP2 antibody-drug conjugate, and a more measured response to BioNTech/BMS's PD-L1 x VEGF bispecific.

Merck & Co. Inc. (NYSE:MRK) and partner Sichuan Kelun-biotech Biopharmaceutical Co. Ltd. (HKEX:6990) (科伦博泰) reported Phase III OptiTROP-Lung05 data for their TROP2 ADC sacituzumab tirumotecan (sac-TMT). The study paired sac-TMT with Keytruda pembrolizumab in PD-L1 positive advanced non-small cell lung cancer (NSCLC), and the findings in the ASCO abstract marked the second win that week for the program...