Goldman Sachs Americas Healthcare: ASCO Weekend Takeaways
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Goldman Sachs published a comprehensive review of key clinical trial data released during the ASCO weekend, highlighting significant advancements across multiple oncology therapeutic areas. In non-small cell lung cancer (NSCLC), a PD-1 inhibitor combined with chemotherapy demonstrated a notable progression-free survival (PFS) benefit in the first-line setting, achieving a hazard ratio (HR) of 0.62.
In breast cancer, an antibody-drug conjugate (ADC) targeting HER2-positive patients met its primary endpoint in a Phase III trial, boasting an objective response rate (ORR) of 78% and a median PFS of 15.2 months. Additionally, CAR-T therapy in relapsed or refractory multiple myeloma exhibited an 85% ORR, with 40% of patients achieving a complete response (CR).
The report also flagged preliminary efficacy for a DLL3-targeting bispecific antibody in small cell lung cancer, yielding a 72% disease control rate. A KRAS G12C mutation targeted therapy showed a 43% ORR in Phase II NSCLC trials. While acknowledging rising competition in the ADC space, Goldman Sachs identifies opportunities for therapies with differentiated targets. The bank maintained its Buy rating on a biotechnology company with a target price of $150, driven by positive PD-1 data, and reiterated a Buy on a cell therapy company with a $200 target.