Merck & Co Stock Price, News & Analysis

Merck (NYSE: MRK) has announced that its top executives will participate in the Morgan Stanley 22nd Annual Global Healthcare Conference on September 5, 2024. Robert M. Davis, chairman and CEO, and Dr. Dean Y. Li, executive VP and president of Merck Research Laboratories, are scheduled for a fireside chat at 2:35 p.m. EDT.

This event presents an opportunity for investors, analysts, media, and the public to gain insights into Merck's strategies and developments. The company, known as MSD outside the US and Canada, will provide a live audio webcast of the presentation, making it accessible to a wide audience. This participation underscores Merck's commitment to transparency and engagement with stakeholders in the healthcare industry.

Merck (NYSE: MRK) has announced the discontinuation of two Phase 3 trials: KEYNOTE-867 and KEYNOTE-630. The KEYNOTE-867 trial, evaluating KEYTRUDA with stereotactic body radiotherapy (SBRT) for early-stage non-small cell lung cancer (NSCLC), was halted due to lack of improvement in event-free survival and overall survival compared to placebo plus SBRT. Additionally, higher rates of adverse events were observed in the KEYTRUDA combination.

The KEYNOTE-630 trial, assessing KEYTRUDA for adjuvant treatment of high-risk locally advanced cutaneous squamous cell carcinoma (cSCC), was stopped for futility. The study did not show statistical significance in recurrence-free survival, and overall survival results did not favor KEYTRUDA over placebo. Merck will share the ongoing data analyses with the scientific community and regulatory agencies.

Merck (NYSE: MRK) has initiated Shorespan-007, a pivotal Phase 3 clinical trial for bomedemstat, an investigational oral LSD1 inhibitor, for treating essential thrombocythemia (ET) patients who haven't received cytoreductive therapy. This trial, comparing bomedemstat to the standard chemotherapy hydroxyurea, will enroll about 300 patients globally. The primary endpoint is durable clinicohematologic response rate.

Bomedemstat is also being studied in Shorespan-006, another Phase 3 trial for ET patients intolerant to hydroxyurea. It has received FDA Orphan Drug and Fast Track Designations for ET and myelofibrosis treatment. Merck recently presented updated data from the Phase 2b Shorespan-003 trial at the ASH Annual Meeting in December 2023.

Merck (NYSE: MRK) has received European Commission approval for WINREVAIR™ (sotatercept) to treat adult patients with pulmonary arterial hypertension (PAH) in WHO Functional Class II-III. WINREVAIR is the first activin signaling inhibitor therapy for PAH approved in Europe, designed to improve exercise capacity when used with other PAH therapies.

The approval is based on the Phase 3 STELLAR trial, which showed significant improvements in six-minute walk distance and reduced risk of death or clinical worsening. WINREVAIR demonstrated an 82% reduction in the risk of death or clinical worsening compared to background therapy alone.

WINREVAIR is administered as a subcutaneous injection every 3 weeks and can be self-administered with proper training. This approval is valid in all 27 EU member states, Iceland, Liechtenstein, and Norway.

Merck (NYSE: MRK) has announced a definitive agreement to acquire CN201, a novel investigational clinical-stage bispecific antibody, from Curon Biopharmaceutical for an upfront payment of $700 million in cash. The deal includes potential milestone payments of up to $600 million. CN201 is a next-generation CD3xCD19 bispecific antibody currently in Phase 1 and Phase 1b/2 clinical trials for treating relapsed or refractory non-Hodgkin's lymphoma and B-cell acute lymphocytic leukemia.

Preliminary data suggests CN201 has activity in patients with relapsed or refractory B-cell hematologic malignancies and is well-tolerated. Merck plans to evaluate CN201 for B-cell malignancies and autoimmune diseases. The transaction is expected to close in Q3 2024, subject to regulatory approval. Merck anticipates recording a pre-tax charge of approximately $750 million, or $0.28 per share, in non-GAAP results upon closing.

Merck (NYSE: MRK) has announced the discontinuation of its Phase 3 KeyVibe-008 trial, which was evaluating a fixed-dose combination of vibostolimab and pembrolizumab (KEYTRUDA®) with chemotherapy for first-line treatment of extensive-stage small cell lung cancer (ES-SCLC). The decision was based on a recommendation from an independent Data Monitoring Committee after a pre-planned analysis showed the primary endpoint of overall survival met pre-specified futility criteria. Additionally, patients in the experimental arm experienced higher rates of adverse events compared to the control arm.

Despite this setback, Merck remains committed to advancing research in lung cancer treatment. The company is pursuing multiple registration-enabling studies, including the IDeate-Lung02 Phase 3 trial with Daiichi Sankyo, evaluating ifinatamab deruxtecan in relapsed SCLC. Merck is also exploring combinations with MK-6070, a DLL3-targeting T-cell engager, in SCLC patients.

Daiichi Sankyo (TSE: 4568) and Merck (NYSE: MRK) have expanded their global collaboration to include MK-6070, an investigational DLL3-targeting T-cell engager. The companies will jointly develop and commercialize MK-6070 worldwide, except in Japan where Merck retains exclusive rights. This agreement builds on their existing partnership for three DXd antibody drug conjugates.

MK-6070 targets DLL3, highly expressed in small cell lung cancer (SCLC) and neuroendocrine tumors. The companies plan to evaluate MK-6070 in combination with ifinatamab deruxtecan (I-DXd) for SCLC patients. Merck will receive a $170 million upfront payment, and the companies will share R&D costs, commercialization expenses, and profits globally, except in Japan.

Daiichi Sankyo and Merck have initiated the IDeate-Lung02 phase 3 trial for ifinatamab deruxtecan (I-DXd) in patients with relapsed small cell lung cancer (SCLC). This trial will evaluate the efficacy and safety of I-DXd compared to physician's choice of chemotherapy. I-DXd is a potential first-in-class B7-H3 directed antibody drug conjugate (ADC) jointly developed by both companies.

SCLC is an aggressive form of lung cancer with poor prognosis, accounting for 15% of lung cancer cases. The trial's initiation is based on promising results from a subgroup analysis of the IDeate-PanTumor01 phase 1/2 trial presented at the 2023 World Conference on Lung Cancer. This marks the second pivotal study in the Daiichi Sankyo-Merck collaboration, following the REJOICE-Ovarian01 phase 2/3 study for raludotatug deruxtecan.

Merck (NYSE: MRK) reported strong second-quarter 2024 financial results with total worldwide sales of $16.1 billion, a 7% increase year-over-year. Excluding foreign exchange impacts, growth was 11%. KEYTRUDA sales grew 16% to $7.3 billion. GAAP EPS was $2.14, while Non-GAAP EPS was $2.28. The company successfully launched WINREVAIR in the US and received a positive EU opinion for adults with PAH. Merck also achieved significant milestones with its vaccines and announced positive trial results for clesrovimab.

Merck completed acquisitions of EyeBio and Elanco’s Aqua Business and raised its full-year 2024 financial outlook to $63.4-$64.4 billion in sales and expects Non-GAAP EPS between $7.94 and $8.04. The outlook reflects a one-time charge of $1.3 billion for the EyeBio acquisition.

Quarterly results highlighted a 7% increase in pharmaceutical sales driven by oncology, cardiovascular, and vaccine growth, despite declines in diabetes and virology segments. Animal Health sales rose 2%, with notable increases in Livestock products. GAAP net income was $5.46 billion compared to a loss of $5.98 billion last year.