STAT+: Closely watched Pfizer lung cancer drug falls short in clinical trial

Pfizer announced on Monday that its experimental drug, sigvotatug vedotin, failed to meet its primary endpoint in a clinical trial for a common form of lung cancer. The drug was being investigated as a potential replacement for docetaxel, a chemotherapy agent first approved in 1996. Pfizer had significant expectations for sigvotatug vedotin, with CEO Albert Bourla identifying it as a potential growth driver for the company later this decade. Analysts also viewed the trial data readout as a significant event for the oncology sector, with one doctor expressing optimism about the drug's prospects. Pfizer acquired sigvotatug vedotin as part of its $43 billion acquisition of biotechnology firm Seagen in 2023.