Street View: Pfizer lung cancer drug miss a setback, but hopes persist in earlier treatment

Pfizer

23/06/2026 12:05

** Pfizer PFE.N said late on Monday that a key experimental cancer drug from its $43 billion Seagen acquisition failed to significantly improve survival versus chemotherapy in a late-stage lung cancer trial of previously treated patients.

A SETBACK, NOT A CLOSED DOOR
** J.P. Morgan ("neutral") says the trial failure is a negative for the drug, sigvotatug vedotin, and that investors will likely want to see first-line data before assigning value to it
** RBC Capital Markets ("sector perform," PT: $25) says the trial is "a clear setback," though the stronger survival trend in patients who had received only one prior therapy could support testing sigvotatug vedotin in earlier-line combinations
** Citi ("neutral," PT: $27) says the overall miss is "disappointing" but "not program-ending," as the stronger trend in second-line patients supports continued evaluation in earlier-line lung cancer
** BMO Capital Markets ("outperform," PT: $34) says the miss was "likely largely priced in," adding that signs of efficacy in second-line patients "leave the door open" for the first-line trial
** Guggenheim says they are "disappointed but not surprised by the result given how difficult it has been for other agents to show an overall survival benefit over docetaxel"

 (Reporting by Kunal Das in Bengaluru)
 ((Kunal.Das2@thomsonreuters.com;))