Kelun-Biotech Announces Phase III Trial of Sac-TMT in Combination with KEYTRUDA® (pembrolizumab) as First-Line Treatment for PD-L1-Positive NSCLC Met Primary Endpoint

On November 24, 2025 Sichuan Kelun-Biotech Biopharmaceutical Co., Ltd. (the "Company", 6990.HK) reported that the Independent Data Monitoring Committee (IDMC) concluded that the Phase III clinical study (OptiTROP-Lung05) of the company’s TROP2 ADC sacituzumab tirumotecan (sac-TMT, also known as SKB264/MK-2870), in combination with MSD’s anti-PD-1 therapy KEYTRUDA[1] (pembrolizumab), as a first-line treatment for PD-L1-positive advanced non-small cell lung cancer (NSCLC), has demonstrated a statistically significant and clinically meaningful improvement in progression-free survival (PFS), the study’s primary endpoint. A positive trend in overall survival was also observed. This is the first Phase III clinical trial of ADC combined with immune checkpoint inhibitor to achieve its primary endpoint in the first-line treatment of NSCLC.

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OptiTROP-Lung05 is a randomized, open-label, multicenter Phase III clinical study evaluating the efficacy and safety profile of sac-TMT in combination with pembrolizumab versus pembrolizumab monotherapy as first-line treatment of patients with PD-L1-positive locally advanced or metastatic NSCLC with PD-L1 TPS ≥ 1%. At a pre-specified interim analysis, the sac-TMT combination therapy demonstrated a statistically significant and clinically meaningful improvement in PFS. Based on the results from the interim analysis, the Company plans to communicate with the Center for Drug Evaluation (CDE) of the National Medical Products Administration of China regarding the submission of a supplemental new drug application (sNDA) of sac-TMT.

Sac-TMT is already approved in China for the treatment of EGFR-mutant NSCLC in the second-line and later settings and has achieved dual benefits in PFS and overall survival (OS) in the EGFR-TKI-resistant lung cancer population, making it the first ADC to show statistically significant and clinically meaningful improvements in both PFS and OS compared to platinum doublet chemotherapy. These research findings have been published in internationally renowned journals, The New England Journal of Medicine and The BMJ.

Sac-TMT is currently being evaluated in ten registrational studies in lung cancer, including five registrational studies in China and five global multicenter Phase III studies.

About sac-TMT

Sac-TMT, a core product of the Company, is a novel human TROP2 ADC in which the Company has proprietary intellectual property rights, targeting advanced solid tumors such as NSCLC, BC, GC, gynecological tumors, among others. Sac-TMT is developed with a novel linker to conjugate the payload, a belotecan-derivative topoisomerase I inhibitor with a drug-to-antibody-ratio (DAR) of 7.4. Sac-TMT specifically recognizes TROP2 on the surface of tumor cells by recombinant anti-TROP2 humanized monoclonal antibodies, which is then endocytosed by tumor cells and releases the payload KL610023 intracellularly. KL610023, as a topoisomerase I inhibitor, induces DNA damage to tumor cells, which in turn leads to cell-cycle arrest and apoptosis. In addition, it also releases KL610023 in the tumor microenvironment. Given that KL610023 is membrane permeable, it can enable a bystander effect, or in other words kill adjacent tumor cells.

In May 2022, the Company licensed the exclusive rights to MSD (the tradename of Merck & Co., Inc, Rahway, NJ, USA) to develop, use, manufacture and commercialize sac-TMT in all territories outside of Greater China (which includes Mainland China, Hong Kong, Macao and Taiwan).

To date, three indications for sac-TMT have been approved and marketed in China for the treatment of adult patients with unresectable locally advanced or metastatic triple negative breast cancer (TNBC) who have received at least two prior systemic therapies (at least one of them for advanced or metastatic setting), EGFR mutation-positive locally advanced or metastatic non-squamous NSCLC following progression on EGFR-TKI therapy and platinum-based chemotherapy and EGFR mutant-positive locally advanced or metastatic non-squamous NSCLC who progressed after treatment with EGFR-TKI therapy. Sac-TMT is the first TROP2 ADC drug approved for marketing in lung cancer globally. In addition, the sNDA for sac-TMT for the treatment of adult patients with unresectable locally advanced, metastatic HR+/HER2- BC who have received prior endocrine therapy and other systemic treatments in the advanced or metastatic setting was accepted by the Center for Drug Evaluation (CDE) of the National Medical Products Administration (NMPA), and was included in the priority review and approval process.

As of today, the Company has initiated 9 registrational clinical studies in China. MSD has initiated 15 ongoing Phase 3 global clinical studies of sac-TMT as a monotherapy or with pembrolizumab or other anti-cancer agents for several types of cancer. These studies are sponsored and led by MSD.

(Press release, Kelun, NOV 24, 2025, View Source [SID1234660921])

Nuvalent Announces Closing of Public Offering of Common Stock and Full Exercise by Underwriters of Option to Purchase Additional Shares from Selling Stockholders

On November 24, 2025 Nuvalent, Inc. (Nasdaq: NUVL), a clinical-stage biopharmaceutical company focused on creating precisely targeted therapies for clinically proven kinase targets in cancer, reported the closing of its previously announced underwritten public offering of 4,950,496 shares of Class A common stock at a price to the public of $101.00 per share. The offering closed on November 20, 2025. The gross proceeds to Nuvalent from the offering were approximately $500.0 million, before deducting underwriting discounts and commissions and other offering expenses.

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On November 20, 2025, the underwriters exercised in full their option to purchase an additional 742,574 shares of Class A common stock (the "Additional Shares") from Deerfield Healthcare Innovations Fund, L.P. and Deerfield Private Design Fund IV, L.P. (together, the "Selling Stockholders") at the public offering price less underwriting discounts and commission. The sale of the Additional Shares by the Selling Stockholders closed on November 24, 2025. Nuvalent did not receive any proceeds from the sale of the Additional Shares by the Selling Stockholders.

J.P. Morgan, Jefferies, TD Cowen and Cantor acted as joint book-running managers for the offering.

The shares were offered by Nuvalent pursuant to an automatically effective shelf registration statement that was filed with the Securities and Exchange Commission ("SEC") on March 16, 2023. The offering was made only by means of a prospectus and prospectus supplement that form a part of the registration statement. A final prospectus supplement relating to and describing the terms of the offering has been filed with the SEC and may be obtained for free by visiting the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus can be obtained from: J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at [email protected] and [email protected]; Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, NY 10022, by telephone at (877) 821-7388, or by email at [email protected]; TD Securities (USA) LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by email at [email protected]; or Cantor Fitzgerald & Co., Attention: Equity Capital Markets, 110 East 59th Street, 6th Floor, New York, New York 10022, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

(Press release, Nuvalent, NOV 24, 2025, View Source [SID1234660920])

Pin Therapeutics Initiates First-Patient Dosing of CK1α Degrader PIN-5018 in Phase 1 Trial

On November 24, 2025 Pin Therapeutics, a clinical-stage biotechnology company specializing in targeted protein degradation, reported that it has administered the first dose of its CK1α-selective degrader PIN-5018 in a Phase 1 clinical trial. The first patient enrolled has adenoid cystic carcinoma (ACC), a rare malignancy with limited treatment options.

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PIN-5018 is an oral CK1α degrader developed based on the novel hypothesis of "synthetic activation of p53." The company is evaluating PIN-5018 as both a monotherapy and in multiple combination regimens. The Phase 1 study employs a dose-escalation design to assess safety, pharmacokinetics (PK), and target engagement/pharmacodynamics (PD). Pin Therapeutics also plans to expand development into additional indications.

PIN-5018 Achieves Complete Response in ACC PDX Models
The company highlighted compelling preclinical data in ACC, a disease with no approved standard-of-care therapy. In two patient-derived xenograft (PDX) models, treatment with PIN-5018 resulted in a complete response (CR) in one model and marked tumor regression in the other, demonstrating robust antitumor activity and supporting clinical translation.

Expansion Planned into mCRPC, Colorectal Cancer, and Other Rare Tumors
Pin Therapeutics notes that CK1α plays a key biological role in resistance mechanisms that emerge during androgen receptor (AR) inhibitor therapy. Based on this insight, the company is pursuing a strategy aimed at enabling rapid entry into the first-line (1L) setting for metastatic castration-resistant prostate cancer (mCRPC) through combination therapy with an AR signaling inhibitor (ARSI). In colorectal cancer, the company is advancing a clinical program based on the innovative concept of "synthetic activation of WNT signaling."

Advancing Mechanism-Based Precision Oncology
Pin Therapeutics emphasized its commitment to mechanism-based precision oncology across its entire pipeline by applying sophisticated biological mechanisms. Ongoing initiatives include mode-of-action studies, integrated PK/PD analysis, and biomarker development to identify the most appropriate patient populations for each indication.

"Our goal is to leverage our innovative degradation modality and novel biological frameworks to provide meaningful therapeutic options for cancer patients with limited or no existing treatments," Pin Therapeutics CEO Hyunsun Jo said. "We look forward to demonstrating the clinical value of PIN-5018 across multiple tumor types."

(Press release, Pin Therapeutics, NOV 24, 2025, View Source [SID1234660919])

IDEAYA Biosciences to Participate in Upcoming December 2025 Investor Relations Events

On November 24, 2025 IDEAYA Biosciences, Inc. (NASDAQ: IDYA), a precision medicine oncology company committed to the discovery and development of targeted therapeutics, reported its participation in the upcoming investor relations events.

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Citi’s 2025 Global Healthcare Conference
Tuesday, December 2nd, 2025 at 9:00 AM ET

Fireside chat with Yujiro S. Hata, President and Chief Executive Officer, hosted by Yigal D. Nochomovitz, Ph.D., Director, SMid Cap Biotech Analyst
8th Annual Evercore Healthcare Conference
Wednesday, December 3rd, 2025 at 10:50 AM ET

Fireside chat with Yujiro S. Hata, President and Chief Executive Officer, hosted by Jonathan Miller, Managing Director, Biotech and Pharma Equity Research
A live audio webcast of the conference events, as permitted by the conference host, will be available at the "Investors/Events" section of the IDEAYA website at View Source and/or through the conference host. A replay of available webcasts will be accessible for 30 days following the live event.

(Press release, Ideaya Biosciences, NOV 24, 2025, View Source [SID1234660918])

AbbVie to Present at the Piper Sandler 37th Annual Healthcare Conference

On November 24, 2025 AbbVie (NYSE: ABBV) reported it will participate in the Piper Sandler 37th Annual Healthcare Conference on Wednesday, December 3, 2025. Management will participate in a fireside chat at 7:30 a.m. Central time.

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A live audio webcast of the presentation will be accessible through AbbVie’s Investor Relations website at investors.abbvie.com. An archived edition of the session will be available later that day.

(Press release, AbbVie, NOV 24, 2025, View Source [SID1234660917])