Adagene falls after presenting interim results from study of ADG126

Shares of Adagene (ADAG) are sharply lower in Wednesday morning trading after the company announced data from its presentation at the American Society of Clinical Oncology, or ASCO, 2024 Gastrointestinal Cancers Symposium, taking place January 18-20. Key highlights from the poster with a November 30, 2023 data cutoff include: Results from dose escalation and dose expansion cohorts of ADG126 in combination with Merck’s (MRK) anti-PD-1 therapy Keytruda demonstrated “a best-in-class safety profile” for ADG126 at doses from 6 mg/kg to 10 mg/kg in heavily pre-treated advanced/metastatic patients: Limited dose-dependent toxicities were observed and Grade 3 TRAEs occurred in 5/46 patients, with no Grade 4 or 5 TRAEs and a discontinuation rate of 6.5%. In dose escalation across tumor types, two partial confirmed responses, or PRs, were observed among the three patients treated with ADG126 10 mg/kg Q3W, which triggered expansion cohorts at this dosing regimen. One of the patients had PD-1 refractory cervical cancer and the other had endometrial cancer. Both confirmed PRs are sustained after more than 55 weeks of treatment. In dose expansion of patients with MSS CRC, 12 evaluable patients without liver metastases were treated at the active, potent dose of 10 mg/kg Q3W: Two confirmed PRs were observed in nine of these patients without peritoneal and liver metastases, resulting in an overall response rate of 22% in this subset. An additional seven of these nine patients experienced stable disease, or SD, for an overall disease control rate 100%. Observation of these clinical activities triggered further expansion into Stage 2 of the Simon’s 2-stage design for this dose level, which is currently ongoing with data anticipated throughout 2024. In a preliminary PFS analysis of those MSS CRC patients free of liver and peritoneal metastasis, a median PFS of seven months was observed in those treated with ADG126 10 mg/kg at two dosing frequencies pooled together. The durable clinical activity of ADG126 in combination with pembrolizumab will continue to be evaluated as a larger cohort of subjects becomes evaluable at the 10 mg/kg Q3W dose level. Commenting on the results, Heinz Josef-Lenz, MD, FACP, Associate Director for Clinical Research and Co-leader of the Translational Science Program at the USC Norris Comprehensive Cancer Center, said, “I believe that CTLA-4 is an essential part of an effective immunotherapy for MSS CRC, yet physicians have been limited by the safety challenges from first generation options. The clinical profile of ADG126 in combination with pembrolizumab presents a great opportunity for MSS CRC patients that otherwise have limited immunotherapy options available.” At 11:15 am ET, Adagene shares have dropped $1.76, or 46%, to $2.04.