Gilead Sciences (NASDAQ: GILD) received European Commission marketing authorization Monday August 24, 2026 for Trodelvy (sacituzumab govitecan-hziy) in combination with Keytruda (pembrolizumab) for first-line treatment of adults with unresectable locally advanced or metastatic triple-negative breast cancer (TNBC). Approval criteria: PD-L1 combined positive score (CPS) ≥10 and no prior systemic therapy for metastatic disease. Trodelvy mechanism: an antibody-drug conjugate (ADC) with an anti-Trop-2 monoclonal antibody linked to the SN-38 topoisomerase I inhibitor payload; when Trop-2 (trophoblast cell surface antigen 2) is expressed on tumor cells, Trodelvy binds and internalizes to release the cytotoxic SN-38 inside the cancer cell. The Keytruda addition provides checkpoint inhibitor activity against PD-L1-positive tumors. Positioning: the first and only antibody-drug conjugate plus immunotherapy combination approved for first-line metastatic TNBC in the EU's 27 member states, plus Norway, Iceland, and Liechtenstein. The FDA had already approved the same combination in June 2026 based on the same clinical evidence. The approval extends Gilead's ADC commercial franchise. The ADC combination-therapy category (ADC + checkpoint inhibitor, ADC + targeted therapy) has attracted increasing investment across oncology as ADCs establish clinical value across breast, bladder, lung, and other solid tumors; adjacent peptide-drug conjugates (PDCs) with tumor-targeting peptides plus cytotoxic payloads are also expanding as a related modality.
Merck (NYSE: MRK) and Moderna (NASDAQ: MRNA) announced Wednesday August 19, 2026 that the Phase 3 INTerpath-001 trial of intismeran autogene (V940 / mRNA-4157, an individualized neoantigen therapy) plus pembrolizumab (Keytruda) met its primary endpoint of recurrence-free survival (RFS) and the key secondary endpoint of distant metastasis-free survival (DMFS) in adults with high-risk (Stage IIB-IV) resected cutaneous melanoma compared to Keytruda alone. Mechanism: intismeran autogene is a personalized mRNA therapy that encodes up to 34 tumor-specific neoantigen peptides selected from the individual patient's tumor mutation signature. The mRNA is delivered as a lipid nanoparticle injection; cells at the injection site translate the mRNA into the neoantigen peptides, which are then presented to the immune system to generate a targeted T-cell response against the patient's tumor. The Phase 3 readout is the first positive Phase 3 for an individualized neoantigen therapy and the first Phase 3 to demonstrate substantial improvement over Keytruda alone in the adjuvant melanoma setting. Trial design: randomized, double-blind, placebo- and active-comparator-controlled global Phase 3 evaluating safety and efficacy of the combination versus Keytruda alone. Phase 2b KEYNOTE-942 five-year follow-up data presented at the 2026 ASCO Annual Meeting had shown a 49% reduction in risk of recurrence or death and a 59% reduction in risk of distant metastasis or death for the combination versus Keytruda alone, and the Phase 3 readout confirms and extends those benefits. The result validates the personalized neoantigen mRNA vaccine platform and opens a substantial commercial pathway for the Merck-Moderna collaboration in adjuvant oncology settings beyond melanoma including non-small-cell lung cancer, renal cell carcinoma, and cutaneous squamous cell carcinoma where INTerpath studies are ongoing.
Merck (NYSE: MRK) reported Q2 2026 earnings Tuesday August 4, 2026 before market open with quarterly revenue of $16.61 billion (+5% year-over-year), beating analyst consensus of $16.36 billion. Keytruda (pembrolizumab) generated $8.37 billion in Q2 sales (+5% YoY), exceeding analyst expectations of $8.27 billion; the total includes $463 million from the newly-launched more convenient injectable Keytruda formulation. Merck highlighted the July 16, 2026 LIPFENDRA (enlicitide) FDA approval as the first once-daily oral macrocyclic peptide PCSK9 inhibitor in the class, priced at $315 per month with peak sales potential of $5 billion by 2034. Full-year 2026 revenue guidance was raised to $66.3-67.3 billion from the prior $65.8-67 billion range, but adjusted EPS guidance was cut to $2.66-2.76 to reflect a one-time $5.7 billion ($2.31 per share) charge tied to the Terns Pharmaceuticals acquisition that closed in H1 2026. Merck shares rose 0.6% in early trading to $128.54. Broader pipeline highlights include continued growth of Winrevair (sotatercept for pulmonary arterial hypertension), Welireg (belzutifan for renal cell carcinoma), and Capvaxive (pneumococcal vaccine), plus the integration of Terns and Cidara acquisitions. Merck has beaten consensus in each of the trailing four quarters.
Merck (NYSE: MRK) Q2 2026 earnings pre-day positioning ahead of the Tuesday August 4, 2026 before-market-open report. Zacks analyst consensus: $16.33 billion revenue, $1.36 diluted EPS (down 36.2% year-over-year from $2.13 in Q2 2025). Analyst focus areas: Keytruda (pembrolizumab) sales trajectory (Zacks estimate $8.06 billion Q2, driven by earlier-stage indication uptake and continued metastatic-setting momentum) ahead of the 2028 US patent cliff that ends Keytruda exclusivity; the initial commercial ramp of LIPFENDRA (enlicitide) oral macrocyclic peptide PCSK9 inhibitor following the July 16, 2026 FDA approval, with peak sales potential estimated at $5 billion by 2034 and analyst commentary describing the safety label as 'the cleanest in the class'; contribution from Winrevair (sotatercept for pulmonary arterial hypertension), Welireg (belzutifan for renal cell carcinoma), and Capvaxive (pneumococcal vaccine); and the integration of the Terns Pharmaceuticals and Cidara Therapeutics acquisitions closed in H1 2026. Merck has beaten earnings expectations in each of the trailing four quarters with a 7.75% average earnings surprise; analyst attention also on potential FY 2026 revenue guidance revision from the prior $65.8-67 billion range and non-GAAP EPS guidance from $5.04-5.16.
Merck (NYSE: MRK) reports Q2 2026 earnings Tuesday August 4, 2026 before market open with Zacks analyst consensus at $16.33 billion revenue and $1.36 diluted EPS (-36.2% year-over-year from $2.13 in Q2 2025). Analyst focus areas: Keytruda (pembrolizumab) sales trajectory with the Zacks estimate at $8.06 billion Q2, driven by earlier-stage indication uptake and continued metastatic-setting momentum ahead of the 2028 US patent cliff; the initial commercial launch of LIPFENDRA (enlicitide) macrocyclic peptide oral PCSK9 inhibitor following the July 16, 2026 FDA approval at $315/month list price ($10.50 per tablet), with peak sales potential estimated at $5 billion by 2034; the emerging contribution of Winrevair (sotatercept for pulmonary arterial hypertension), Welireg (belzutifan for renal cell carcinoma and VHL disease), and Capvaxive (pneumococcal vaccine); and pipeline signal from the Terns Pharmaceuticals and Cidara Therapeutics acquisitions completed in H1 2026. Merck has beaten earnings expectations in each of the trailing four quarters with a 7.75% average earnings surprise. Beyond Q2 specifically, analyst attention will focus on the FY 2026 revenue guidance ($65.8-67 billion range on the prior call) and non-GAAP EPS guidance ($5.04-5.16 range) for revisions.
Dana-Farber Cancer Institute researchers led by David Reardon (Director, Center for Neuro-Oncology) and Catherine Wu (Chief, Division of Stem Cell Transplantation and Cell Therapies) presented Phase 1 data at ASCO 2026 on NeoVax — a personalized neoantigen peptide vaccine — combined with pembrolizumab in newly diagnosed glioblastoma. The study excluded dexamethasone (an immune suppressant) and added pembrolizumab to enhance anti-tumor activity. Vaccine-stimulated anti-tumor activity was still evident in some patients after one year, with vaccine-specific T cells migrating into the brain and tumors following vaccination. The MGMT-methylated patient subgroup showed median survival meaningfully exceeding historical observations, though the authors emphasized this requires cautious interpretation given the lack of a randomized comparator arm. The timing of pembrolizumab administration didn't affect immune-response stimulation, but pembrolizumab-before-NeoVax-priming may extend overall survival. NeoVax adds to the personalized neoantigen vaccine cohort (BioNTech autogene cevumeran, Moderna intismeran autogene, Evaxion EVX-01) anchoring the broader peptide cancer vaccine field.