has parted ways with for the joint development of their cancer programmed-cell death 1 ligand-1 (PD-L1) therapy, acasunlimab (BNT311/GEN1046), as it reports major Q2 losses. The German pharmaceutical giant of €807.8m ($885m) for Q2, in a 5 August press release.
The company also shared that its Q2 revenue has dropped to €128.7m, compared to €167.7m in 2023.
BioNTech cited the drop in global Covid-19 vaccine sales as the reason for the drop in revenue. However, despite the losses, the company maintained that its full expected revenue for 2024 should still be on track for €2.5bn-€3.
1bn. The financial report also revealed BioNTech’s plans to quit the development of acasunlimab (BNT311/GEN1046), leaving the programme for Genmab to commandeer. BioNTech has chosen not to participate in the drug’s Phase III development despite the release .
The bispecific antibody is currently in a Phase II randomised study (NCT05117242), investigating its use for non-small cell lung cancer. Interim data from the trial demonstrated that the drug showed a 12-month overall survival rate of 69% and a median overall survival of 17.5 months in combination with MSD’s Keytruda (pembrolizumab).
Genmab will present updated data from the study at the World Conference on Lung Cancer being held on 7 to 10 September The split arrives after BioNTech and Genmab expanded their clinical collaboration in 2022 to research, develop and commercialise novel monospecific antibody candidates for various canc.