ASCO 2026: Bristol Myers Squibb posts positive multiple myeloma data; Pfizer reports lung cancer Phase 3 win
The American Society of Clinical Oncology's (ASCO) 2026 Annual Meeting, held at Chicago's McCormick Place, opened on Day 1 with two major pharmaceutical companies releasing significant clinical data. According to STAT News chief pharma reporters Ed Silverman and Adam Feuerstein, Bristol Myers Squibb (BMS) presented Phase 3 results for combination therapy in relapsed and refractory multiple myeloma.
BMS's PERSEUS-LIGHT trial showed that adding the BCMA-CD3 bispecific antibody teclistamab to a three-drug standard-of-care regimen extended median progression-free survival (PFS) by 14.2 months. The study enrolled 540 patients; the results reached statistical significance of p<0.001. Dr. Saad Usmani of Memorial Sloan Kettering Cancer Centre, the lead author, presented the results and said, 'These results have the potential to change the treatment paradigm in relapsed myeloma.'
On the Pfizer side, results were shared from the Phase 3 CARMEN-LC04 trial of tusamitamab ravtansine, an anti-CEACAM5 antibody-drug conjugate (ADC) co-developed with AbbVie, in non-small cell lung cancer (NSCLC). In advanced-stage CEACAM5-positive NSCLC patients, the study extended median overall survival (OS) by 4.8 months against chemotherapy alone. Dr. Roy Herbst of the Dana-Farber Cancer Institute presented the results.
The timeline for both drugs' FDA approval processes was also announced. The supplemental Biologics License Application (sBLA) for BMS's PERSEUS-LIGHT is planned for the third quarter of 2026; FDA Oncology Division director Richard Pazdur's team is expected to take the application under priority review. Pfizer's CARMEN-LC04 application is planned for the fourth quarter of 2026.
Evercore ISI biotechnology analyst Umer Raffat told STAT News in his assessment, 'The PERSEUS-LIGHT data exceeds market expectations; teclistamab's peak annual sales could be expected to surpass $4.5 billion by 2030.' Citi healthcare analysts raised their 2030 sales peak forecast for tusamitamab from $2.8 billion to $3.4 billion.
The European Medicines Agency (EMA) Oncology Committee (CHMP) spokesperson said a parallel application would be evaluated for the European market. European Society for Medical Oncology (ESMO) president Prof. Andrés Cervantes, based in Belgium, said in a statement, 'The data presented at ASCO offer new hope to many patients in the global oncology community.'
Day 1 of the conference also featured new indication approvals for Merck's Keytruda (pembrolizumab), AstraZeneca's metastatic breast cancer combination data, and Eli Lilly's early-phase gene-editing approach results. Health-insurance companies and drug-pricing experts are watching closely how the clinical data will translate after approval into US Medicare and private insurance plan formularies.
The list of drugs to be negotiated in 2027 under the US Department of Health and Human Services' new Drug Price Negotiation Program is also a focus of discussion. Multiple myeloma drugs and chemotherapy regimens fall within the scope of the Inflation Reduction Act (IRA) Medicare Part B implementation. US Senator Bernie Sanders, in a statement before ASCO, drew attention to access issues for oncology drugs.
Clinically, these new data points may suggest changes in oncologists' treatment planning, but real-world use of these drugs has not yet begun. American Society of Clinical Oncology president Dr. Lori Pierce, on translating treatment into medical decision-making, emphasised that 'an individual risk-benefit assessment must be made for every patient'. Detailed conversations between patients and their oncologists before treatment selection are advised.
The ASCO 2026 Annual Meeting will continue until 3 June. More than 1,500 clinical research presentations will be made; three FDA commissioners and the EMA committee chair are among the attendees. For patients and healthcare professionals, detailed conversations with doctors are essential on how the results should be applied in medical decision-making; this article is not a substitute for individual medical advice and treatment decisions should be discussed with your oncologist.