CYTOMX THERAPEUTICS INC

Merck discontinued KeyVibe and KEYFORM programs for vibostolimab and favezelimab after clinical setbacks. Both drugs, tested with Keytruda, failed to meet primary endpoints in late-stage studies. Keytruda remains Merck's top revenue driver, with sales over $21 billion in 2024. Merck's stock has underperformed, losing 8.3% year to date.

Jazz Pharmaceuticals' intravenous drug zanidatamab (Ziihera) receives FDA accelerated approval for HER2-positive biliary tract cancer, marking the first dual HER2-targeted, chemotherapy-free therapy in the U.S. The approval is based on a 52% objective response rate in a phase IIb study, with a commercial launch expected by year-end. Jazz is also conducting phase III and late-stage studies for gastroesophageal adenocarcinoma and metastatic breast cancer.

Alphina Therapeutics appoints Nick Galli as CEO, with Barbara S. Fox becoming board chair. Galli brings 20 years of experience in strategy and business development, aiming to advance Alphina's NAMPT inhibitor program for solid tumor treatments.

The ADC market, driven by technological advancements and personalized medicine, is expected to reach ~USD 26 billion by 2030 with a CAGR of ~14%. North America leads due to high cancer incidence and strong biopharmaceutical sector. Key players include F. Hoffmann-La Roche Ltd, DAIICHI SANKYO COMPANY, LIMITED, and Pfizer Inc. The market is dynamic, influenced by regulatory frameworks and innovation in linker technologies and payloads.

CytomX Therapeutics excels with its Probody® technology, targeting tumor microenvironments with proteolytically-activated antibodies, backed by a strong IP portfolio and experienced leadership. Despite high R&D costs and regulatory challenges, opportunities in cancer therapeutics and personalized medicine offer growth potential amidst intense competition and market volatility.