Amgen (AMGN) Citi’s 2026 Virtual Oncology Leadership Summit summary

Strategic oncology R&D priorities

• Focus on delivering transformative therapies, not marginal benefits, in both hard-to-treat solid tumors and select hematological malignancies.

• Two main pillars: T-cell engagers and precision small molecule therapies, with selective exploration of ADCs.

• Long-term investment in T-cell engagers, with unique approvals in both hematological and solid tumors.

• Selective external investments to complement internal pipeline and drive transformational science.

• Biologics and chemistry strengths guide modality choices, with a pragmatic approach to new technologies.

Product portfolio and clinical development

• IMDELLTRA fully approved for second-line or later small cell lung cancer, with commercial momentum and broad U.S. adoption.

• Multiple phase III trials ongoing for IMDELLTRA in first-line metastatic, maintenance, and limited-stage small cell lung cancer.

• IMDELLTRA being explored for other tumor types, including neuroendocrine prostate cancer and EGFR mutant lung cancer with small cell transformation.

• LUMAKRAS available for second-line lung and third-line colorectal cancer; phase III trials underway for earlier lines and combination regimens.

• BLINCYTO advancing into earlier lines and subcutaneous formulations, with ongoing phase III studies and expansion into autoimmune indications.

Pipeline innovation and differentiation

• Xaluritamig targets prostate cancer with a novel immune mechanism, aiming for survival benefit and broad patient eligibility without biomarker gating.

• Phase III trials for xaluritamig designed for both post- and pre-taxane settings, with a focus on chemo-free regimens and overall survival endpoints.

• Early-stage studies for xaluritamig in neoadjuvant, biochemical recurrence, and hormone-sensitive prostate cancer underway.

• Xaluritamig also being tested in Ewing sarcoma due to high target expression and unmet need.

• AMG 193 in development for MTAP-null solid tumors, with focus on lung and GI cancers and combination strategies.